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Senior Editor, Money Team

Eileen Ambrose

Biography:

Eileen Ambrose is a senior editor and writer for the Money Team. She previously was a personal finance columnist with the Baltimore Sun.

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Eileen Ambrose'sPosts

Lawmakers Urged to Act Soon to Shore Up Social Security

Posted on 07/28/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe financial outlook for Social Security remains largely unchanged from last year, with the combined trust funds that pay benefits to retirees and workers with disabilities expected to exhaust reserves in 2033, according to a government report released today. After that date, money coming into the system would be enough to cover 77 percent of benefit obligations, according to the Social Security trustees report. At a news conference on Monday afternoon, Treasury Secretary Jack J. Lew said Social Security and Medicare are …

Money-Market Funds Just Got Safer..Or Did they?

Posted on 07/25/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsAfter years of debate, the Securities and Exchange Commission this week finally adopted new rules designed to shore up the stability of the $2.6 trillion money market  industry. The question now is, will it help? While the changes largely affect institutional investors, one provision also applies to small investors by temporarily restricting their access to their money if a fund has liquidity problems. For decades money market funds were seen as reliably boring, investing in government securities or high-grade corporate debt. Though the funds’ …

Are Medical Credit Cards Unhealthy for Finances?

Posted on 07/23/2014 by |Senior Editor, Money Team | Comments

Money & SavingsYou need some expensive medical care yet don’t have the insurance or money to pay for it. Should you use a medical credit card that’s pitched at some doctors’ offices? A new report by the nonprofit Consumer Action warns that some of these cards can be unhealthy for your finances. They usually offer a zero percent introductory rate, though after that period, card terms can vary greatly. The problem is that these terms often are difficult to uncover. So patients …

Facebook No Friend of Its 401(k), Survey Says

Posted on 07/22/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsConocoPhillips Co. has the best 401(k) plan for workers, while Facebook Inc., Amazon.com Inc. and Whole Foods Market Inc. offer some of the worst, according to a Bloomberg News survey of the 250 largest public companies in the country. In fact, ConocoPhillips’ plan is so generous – contributing 9 percent of workers’ pay if workers kick in 1 percent – that after 35 years an employee can end up a multimillionaire, Bloomberg said. According to the Houston-based oil and gas producer’s own …

Who Weathered the Recession the Best?

Posted on 07/3/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsMany Americans are still reeling from the last recession, although the oldest among us weathered the economic decline better than other age groups. That’s according to a recent report by the Census Bureau that looked at how Americans ages 65 and up fared during and after the 2007-2009 recession. These older consumers were somewhat buffered by more conservative investment strategies as well as high homeownership and a resistance to squeezing all equity out of their property by refinancing. It wasn’t …

Learn How Creditors Can Snatch Your (Inherited) IRA

Posted on 06/13/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsA U.S. Supreme Court ruling has just made estate planning a lot more cumbersome for some high-net-worth parents who want to leave tax-free money in a Roth IRA to a child. Retirement accounts are protected from creditors in bankruptcy cases so people don’t wind up destitute in old age. However, the court unanimously ruled on Thursday that this is not the case for those who inherit IRAs. The court decision involves a case of a woman who inherited about $450,000 in an IRA from her mother …