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Money & Savings

Informative Money and Saving blog from AARP. Check out our posts on money advice, financial tips, news, and more.

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Recent Money & SavingsPosts

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 …

E-ZPass to ID Theft?

Posted on 07/18/2014 by |AARP Blog Author | Comments

Bulletin Today | Money & SavingsPerfectly timed to the busy travel season, scammers are behind phony emails supposedly sent by the “E-ZPass Service Center” or “E-ZPass Collection Agency.” So beware. Whether or not you have an E-ZPass account, the bogus message may make its way into your inbox, prompting you to click a link.   Don’t take the bait. Not only will you be asked to provide sensitive personal and financial information, but clicking that link may also install malware onto your computer that could …

Senate Panel Holds Hearing on Scams Aimed at Seniors

Posted on 07/17/2014 by |AARP Blog Author | Comments

Money & SavingsBy Kristin Keckeisen, Fraud Watch Network campaign manager Finally, some much-needed attention to the long-running grandparent scam. The Senate Special Committee on Aging held a hearing on July 16th as part of an ongoing series highlighting fraud’s devastating impact on seniors. Among the witnesses: an 81-year-old Ohio resident who lost more than $7,000 to a con artist impersonating his grandson. The grandparent, or “family emergency,” con is simple — and effective. Scammers troll obituaries and social media sites to glean personal …

Payday Lender Ordered to Pay $10 Million Over Collection Practices

Posted on 07/14/2014 by |AARP Blog Author | Comments

Bulletin Today | Money & SavingsAce Cash Express, one of the nation’s largest payday lenders, has agreed to pay a $10 million settlement over its collection practices. The Consumer Financial Protection Bureau said that Ace, based in Irving, Tex., must refund $5 million to customers who fell victim to such practices from March 2011 to September 2012; it must also pay a $5 million civil penalty. Payday loans are taken out by people who need quick cash between paychecks. Companies such as Ace Cash Express have been known …

Tax Scammers Up Ante With Robocalls

Posted on 07/11/2014 by |AARP Blog Author | Comments

Bulletin Today | Money & SavingsIn the four months since it made history as “the largest scam of its kind,” a now infamous IRS imposter telephone scam has escalated with a recent new spin. As fraudsters continue to pose as agents with that agency or the U.S. Treasury Department in “live” calls that threaten arrest or deportation, along with the seizure of property, businesses and driver’s licenses, they’ve recently upped the ante to now also incorporate robocalls in this widespread ruse. Either way, the story is …

Boomers: Save ‘Til It Hurts

Posted on 07/10/2014 by |Online Executive Producer | Comments

Money & SavingsOwn Your Tomorrow. OK, so even though that’s the tagline for Charles Schwab’s new advertising campaign, the message also rings true for the millions of Americans age 50 and older who need to keep their saving for retirement on track and take their financial future into their own hands. As part of an Opinion Leader speaker series at the Washington, D.C., headquarters of AARP, incoming CEO Jo Ann Jenkins and Charles Schwab Foundation President Carrie Schwab-Pomerantz discussed the roles that employers, schools and …