A recent study found that a record number of people (around 28%) with 401(k) retirement funds had loans (averaging $7,860) outstanding on them in 2010, meaning that these same folks will not have as much money set aside when it does come time to retire. That’s why a pair of Senators have introduced legislation that would make it more difficult for people to tap their 401(k)s. [More]
Decisions You Need To Make About Retirement
By February 2, 2011
At some point, whether by your own choice or that of those who pay you, you’re most likely going to have to call it a career and move on to a life of shuffleboard and early-bird specials. [More]
The 10 Worst States For Retirement
By December 10, 2010
Most of us won’t be retiring anytime soon. But for those few who will be saying goodbye to the workforce forever in the next few years, the people at TopRetirements.com have put together their list of the worst states in which to live out your golden years. [More]
Fidelity Sent Me Someone Else's $300,000 Retirement Savings
By May 24, 2010
Douglas received an unexpected delivery from UPS last week: a check from Fidelity Investments made out to Vanguard Fiduciary Trust Company for over $300,000, along with a bunch of 401(k) rollover paperwork that included the real account holder’s address, date of birth, SSN, and phone number. [More]
When It's Time To Start Running Out The Clock On Life, Tucson Is The Place
By March 17, 2010
BusinessWeek came out with a list of the most affordable places to retire, and my hometown of Tucson topped the rankings. This is a big deal for Tucson, given it normally doesn’t top any national statistical categories other than impoverished education systems and cholla stings. [More]
5 Financial Tasks For Baby Boomers
By January 18, 2010
MSN Money offers financial goal-setting advice for Baby Boomers that can just as easily be applied to any other stage of life. [More]
Soon-To-Be-Ex Bank Of America CEO Has $53 Million Pension
By October 3, 2009
Ken Lewis is probably a little bummed out that he will no longer be the CEO of Bank of America — but how sad can he be with a $53 million pension?
These Places Are So Cheap They May Actually Allow You To Retire There
By September 30, 2009
U.S. News & World Report names the 10 “Best Affordable Places To Retire.”
Retirement Savings Before College Savings
By September 17, 2009
These days many parents are struggling with saving any amount of money. So imagine the difficulty of trying to tackle the seemingly insurmountable tasks of saving for college and retirement simultaneously. No question, it’s a tall order. To give parents some options to consider, US News offers suggestions for dealing with this double-headed financial dragon as follows:
Common 401(k) Mistakes To Avoid
By September 15, 2009
Christian personanl finance blog Redeeming Riches offers four revelations on how you may be mistreating your 401(k).
Setting a Retirement Number and Determining if You're Going to Make It
By September 11, 2009
After the past year’s economic slump, it’s safe to say that most of our retirement accounts are not what they used to be. So how do you know if the stock market crash has derailed your retirement or not? Of course, the first step in the process is knowing how much money you’ll need for those future days on the golf course. Personal finance blog Wise Bread says we all have two main options for determining our retirement numbers, namely:
Old Workers Vs. Young In A Tough Labor Market
By September 10, 2009
Forget about mall-walking and midday bingo games. It seems that workers over 55 just aren’t interested in retiring. This is problematic for the young people who, under different circumstances, would have replaced them in the workforce.
Should You Have a Mortgage in Retirement?
By August 14, 2009
A growing personal finance debate centers around whether or not individuals should have a mortgage when they retire. A surprising number of retirees maintain a mortgage — 4 in 10 in 2007 — but is this good financial management?
Either Have The Temerity To Hold Stocks Or Get Out Of The Market
By August 9, 2009
One of the first studies of the recent market splat found that the investors most likely to be crushed thought they were investing for the long haul, only to be forced into cashing out at the worst possible time. According to the study, cleverly titled “When Everyone Runs for the Exit,” there are only two good ways to react to a liquidity crisis: hold onto your portfolio and trust that it will recover, or fold immediately to limit your losses.
The Five Universal Financial Truths
By August 2, 2009
Saving can be boiled down to a few universal financial truths. The sooner you know and internalize them, the sooner you can start enjoying a responsible, sustainable lifestyle.
Why You Should Pay Off That Mortgage Before You Retire
By July 28, 2009
If you planned on retiring soon you’ve probably had to readjust your expectations. But even if you’re still on target to take it easy soon, you should reconsider until you’ve paid off your mortgage.
LendingTree Launches Financial Advice Website
By July 23, 2009
MoneyRight, a new website from LendingTree, seems at first aimed to take on Mint.com in the easy-to-read/use financial snapshot category of web services. However, it also offers financial advice based on your current situation and future goals.
AARP Tells You How To Love Your Money The Old-Fashioned Way
By July 15, 2009
It’s not such a great time to be heading into retirement, which may be a reason prospective retirees may want to glance through the AARP’s 50 Ways To Love Your Money PDF.
