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Senior Editor, Money Team

Eileen Ambrose


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

Payday Loan Fees Often Exceed the Amount Borrowed

Posted on 03/25/2014 by | Senior Editor, Money Team | Comments

Money & SavingsIf you need more evidence that payday loans can be a debt trap, look no further than today’s report by the Consumer Financial Protection Bureau. The agency found that 4 out of 5 payday loans are renewed or rolled over within two weeks after the end of their term. In half of these cases, the borrower renews the loan at least 10 times in a row. And repeat borrowing may be more expensive than many borrowers may realize. Fees in …

Feeling Better About Retirement? Survey Says Many Do

Posted on 03/18/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsLast year’s rising stocks and recovering real estate market appear to have increased workers’ retirement confidence as well. According to an annual survey of 1,000 workers by the Employee Benefit Research Institute, 18 percent say they were very confident they’d be able to retire comfortably. That may not seem like much, but it’s a 5 percentage-point jump from a year earlier. Jack VanDerhei, EBRI’s research director and an author of the study, says the rise in confidence was among those …

Senate Deal on Jobless Benefits Won’t Bring Fast Relief

Posted on 03/14/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsOne of the hurdles blocking the extension of unemployment insurance benefits for about 2 million long-term unemployed workers has been eliminated. A small group of Republicans and Democrats in the Senate on March 13 reached an agreement that would extend benefits for another five months – gathering enough support to prevent a filibuster by opponents. The extension would be retroactive to Dec. 28, 2013, when benefits expired. Legislators who have been against extending benefits cite the cost, which runs about …

Are You a Social Security Double-Dipper?

Posted on 03/11/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsWhen and how you claim Social Security benefits has a huge financial impact on your retirement, although many older Americans aren’t aware of all their options and lose out on some serious money, according to a survey released today by Financial Engines. The Sunnyvale, Calif.-based company found that single retirees potentially miss out on $100,000 or more over the course of their retirement, while for married couples the amount is $250,000 or higher. Financial Engines’ findings come from a recent …

Roth IRA Estate Benefits Curtailed in Obama Budget

Posted on 03/6/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsBuried in the details of President Barack Obama’s 2015 budget are tax changes that could upend many people’s estate and retirement planning. The president is proposing significant changes to the Roth IRA, which has become a popular way for higher-income investors to leave money to heirs tax-free. “The Obama team put this out in an effort to simplify tax law when it comes to retirement accounts,” says Matt Curfman, a financial planner with Richmond Brothers Inc. in Jackson, Mich. “Thank …

Obama’s Budget Offers Tax Credits to More Workers

Posted on 03/4/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsMore lower-income people, and more older workers, would be eligible for the earned income tax credit (EITC) under President Barack Obama’s proposed fiscal 2015 budget, although this expansion would come at a cost to the wealthiest Americans. The president’s budget would expand the EITC for workers without children. The maximum credit for childless workers in 2015 is $503, and the credit fully phases out once income reaches $14,790 for singles and $20,290 for joint filers. The White House says the …