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Recent Money & SavingsPosts

Some Student Borrowers Face Default If Co-Signer Dies

Posted on 04/22/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsMany parents and grandparents are aware of the hazards of cosigning an education loan, putting themselves on the hook to repay if the student doesn’t. Now another wrinkle has emerged that can end up hurting student borrowers: Under the terms offered by most private lenders, institutions can demand that borrowers immediately repay a loan in full if the cosigner dies or files for bankruptcy. These so-called auto-defaults can occur even if the borrower has been keeping up with payments. And …

Inside the Grandparents Scam: A Con Artist Reveals All

Posted on 04/21/2014 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsDonald and Ola Mae got scammed doing what any grandparent would do. Peter got them because he knew that love, indeed, conquers all. The secret to Peter’s success, like that of any scammer, was to get Donald and Ola Mae to think with their hearts instead of their heads — to get them “under the ether,” as it is called. Think with your emotions and you don’t think rationally, and that’s what turns targets into victims. That’s why the Grandparents Scam …

Those Free Dinner Seminars May Give You Heartburn

Posted on 04/21/2014 by | AARP Blog Author | Comments

Money & Savings | Your LifeEver get those invitations for a free financial seminar at a restaurant? “Nothing will be sold — we only want to educate you on your financial future,” is the typical pitch. Most specify that “financial professionals may not attend.” However, I recently received one that didn’t exclude me, and decided to see what I might learn about my financial future. Here’s my experience and what you need to know. First, this wasn’t just some seminar at a local restaurant; this …

Where to Report Scams (and Why It’s Important)

Posted on 04/18/2014 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsSilence is golden, at least for scammers. Say nothing and their bilking can continue until you and others are bled dry. Speak up and it can stop. Take, for example, another impressive yet little-publicized bust recently announced by the Federal Trade Commission. It ended a telemarketing scheme believed to have scammed more than $20 million from tens of thousands of older Americans. The agency alleges that for 31 months, a network of scammers in the U.S. and Canada cold-called retirement-age Americans …

High Fees Can Sap Over $100,000 From Your 401(k) Plan

Posted on 04/17/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsSome 52 million Americans rely on their 401(k) savings plans as a key part of their retirement. Now, the Washington-based Center for American Progress says in a new study that high investment fees could cost the typical worker $100,000 or more over the course of a four-decade career. That may force some to stay on the job at least three years longer than they’d planned just to make up for that loss. Given the fact that many older workers are having a difficult …

Planning for a Strong Financial Future

Posted on 04/15/2014 by | AARP Blog Author | Comments

Money & SavingsBy Lee Baker, CFP One of my favorite things as a child was reading comic books. To be honest, if I had more free time, I would probably read them now. Like me, most of you probably remember the Charles Atlas ads in comic books and other magazines. You know the story: A bully kicks sand in a skinny kid’s face. Deciding to do something about it, the skinny kid sends for a free book from Charles Atlas that promises …