By Laurence Kotlikoff, Forbes.com Social Security benefit provisions are so devilishly complex that I’ve come to believe that Satan, himself, had a hand in their construction. The ‘simple’ formula for determining the total benefits received by a married spouse involves 10 distinct mathematical functions, one of which is in four dimensions. And there are additional […]
By Chuck Saletta, The Motley Fool On Tuesday, The Congressional Budget Office updated its annual projections on the health of Social Security and its Trust Funds. In essence, if you’re still working and you’re depending on that program to cover your retirement — you’ll be in for a shock. Or three. Shocker No. 1: It’s […]
By Hedrick Smith, Forbes.com Most people assume they’re savvy about 401(k)s, but here are three surprises for Boomers counting on 401 (k)s as their future financial lifejackets: (1) how it got started – accidentally; (2) how much they should regularly save to build a safe retirement nest egg; and (3) how big a bite mutual […]
By Steve Vernon, CBS MoneyWatch News Analysis (MoneyWatch) Among the policies lawmakers are considering as part of the “fiscal cliff” talks in Washington is to change how the government measures inflation in Social Security payments. President Barack Obama has proposed adopting what is known as a “chained” Consumer Price Index, or CPI, as part of […]
By Allan Roth, CBS MoneyWatch (MoneyWatch) The foremost question for Americans approaching retirement age is when to start collecting Social Security. It’s a complex topic, and personal finance expert Mike Piper does an excellent job of clarifying the decisions in his short book, Social Security Made Simple. Here are three key points to keep in […]
By Dan Caplinger, The Motley Fool Economists say that we’re in a recovery, but try telling that to ordinary middle-class Americans. As hard as it is to make ends meet right now, Americans are extremely pessimistic about ever getting to retire with any kind of financial security. A recent survey from Wells Fargo (WFC) […]
By Samuel Weigley and Alexander E.M. Hess, 24/7 Wall St. 10. Colorado 401(k) balance to annual income: 42.6% Median balance: $23,583 (23rd lowest) 401(k) growth 2008-2011: 29.4% (18th highest) Debt to income: 744% (13th highest) Average total debt: $221,648 (10th highest) Despite a median household income of $55,387, almost $5,000 above the national median income, […]
By Michael B. Sauter, Alexander E.M. Hess and Samuel Weigley, 24/7wallst.com Several years after from the financial crisis of 2008, state pension funds continue to languish. According to data released this week by Milliman, Inc. and by the Pew Center on the States, there was an $859 billion gap between the obligations of the country’s 100 […]
Consider adding these three retirement resolutions to make 2012 a successful year of investing.
Here are some important emerging trends that might not have made the headlines, but they still require your attention in the months and years to come.