AT&T to Refund Money for Services You Didn’t Order

AT&T Mobility will refund $80 million to customers for billing them for horoscopes and other mobile services they didn’t order, federal and state regulators announced today. The phone carrier also must pay $25 million in penalties. “Mobile cramming” occurs when a carrier bills for services by outside vendors that the customer didn’t authorize. About 20 million consumers are victims annually, regulators said. “It’s the largest cramming settlement in history,” said Tom Wheeler, chairman of the Federal Communications Commission, at a news …

W.Va. Senate Candidates Call for Lifting Social Security Salary Cap

West Virginia’s two major-party candidates for the U.S. Senate support raising the Social Security wage base limit from its current level of $117,000, and in an Oct. 7 debate both voiced concern over the long-term financing of the program. “I am supportive of raising the cap to $240,000” or in that vicinity, said West Virginia Secretary of State Natalie Tennant, a Democrat. “I would be willing to raise the cap over $200,000,” said U.S. Rep. Shelley Moore Capito, her Republican opponent. …

How to Be Really Rich With Less Money

Most people define their net worth in dollars. As a financial planner, I define net worth in time. Allow me to explain. When I ask people to tell me what money means to them, I hear words like freedom, security and independence. Money, and having enough of it, allows us to do whatever it is that makes us happy. Reframing wealth as time turns some millionaires into paupers, and it makes those with $250,000 in 401(k) savings into the very …

Are You Saving Enough for Health Care in Retirement?

You’ve heard this before, I know, and yet it remains as disturbing as ever. Health care costs, along with housing, are likely to be your biggest expenses in retirement. Boston-based Fidelity Investments found that premiums, deductibles and other out-of-pocket expenses could cost a 65-year-old couple retiring today a jaw-dropping $220,000 – and that’s in addition to Medicare premiums. Some boomers are heeding that forewarning: In a survey of 1,002 workers age 50 and older, 62 percent say they’re socking away money for …

Geoffrey Holder: Much More than a 7Up Pitchman

TV commercials for 7Up made a powerful impression on us in the 1970s and ’80s in large part because of the pitchman: A handsome gentleman clad in an elegant white suit and hat, who spoke in stentorian tones infused with a Caribbean lilt. Lounging in a straw chair, Geoffrey Holder touted the no-caffeine virtues of the “Uncola” as he poured and sipped a glass of the bubbly beverage, and at the end, drove home his point by leaning back his …

Financial Planning for People With Dementia

As boomers move into their late 60s and beyond, the country is likely to experience a growing number of individuals with dementia who have difficulty managing their financial affairs. This means financial advisers must be trained to recognize the early signs of cognitive impairment among clients and then plan for deteriorating mental health that may occur over many years. In addition, policymakers must bolster protections against financial exploitation to protect older consumers with dementia. >> 10 Items Where Coupons Save …