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Recent Money & SavingsPosts

Here’s How Wrong Recent Financial Headlines Have Been

Posted on 03/18/2014 by | AARP Blog Author | Comments

Money & SavingsOver the past five years, U.S. stocks have tripled in value. For example, the Wilshire 5000 total return index increased from 27.50 to 82.62. Yet paranoia about the market has caused many investors to miss out. The chart below shows the return an investor would have received just by owning a total U.S. stock index fund and reinvesting the dividends. A total U.S. stock index fund essentially owns every publicly held company based in the U.S. Though the chart tracks …

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 …

Rate Reset for Some Homeowners May Trigger Defaults

Posted on 03/12/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsThe home foreclosure crisis that swept through the nation during the Great Recession may not be over for thousands of troubled borrowers. Some homeowners who sought help from the government’s Home Affordable Modification Program (HAMP) are about to see their mortgage payments rise this year. In some cases, those payments could eventually go up by more than $1,000 a month, according to the Washington Post. The loan modification program lowered monthly mortgage interest rates for some 1.3 million at-risk homeowners …

401(k) Fees Need More Transparency, Labor Dept. Says

Posted on 03/11/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsMemo to 401(k) savings plan service providers: You’re ignoring the intent of Labor Department disclosure rules when you bury the expenses and fees for those plans in a mountain of paperwork, using language only legal experts can decipher. If investors don’t know or understand how much they’re paying in fees associated with different investment options, for example, how can they know if they’re overpaying for certain funds and limiting retirement balances from increasing more fully? Phyllis C. Borzi, the assistant secretary of …

How to Spot Scam Emails

Posted on 03/11/2014 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsIt used to be easy to spot scam emails. They were littered with grammatical and spelling errors, and their so-called Scammer Grammar was anything but what you’d expect from well-educated “barristers,” Nigerian kings or executives from respected American corporations. Well, the typos may remain — and not only because foreign-based fraudsters with weak command of English are often behind emails that hide malware-laden links or phish for sensitive information that could lead to identity theft. Now, tech-savvy tricksters are purposely misspelling certain words …

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 …