Eileen Ambrose

Stock Gains Push 401(k)s to Record Highs

Posted on 02/18/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsLast year’s gangbuster stock market pushed 401(k) savings account balances to record highs, according to two major retirement account providers. Fidelity Investments says the average account balance at the end of last year reached $89,300, a 15.5 percent increase over the year before. For workers age 55 and older, balances averaged $165,200. Many workers roll over their 401(k) into an individual retirement account when they leave a job.  Adding up the balances of those who have both a 401(k) and …

There’s a New ID Theft Victim Every 2 Seconds

Posted on 02/7/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsAbout the time it takes to read this sentence, another three people have become victims of identity theft. A victim is created every two seconds, according to a new survey by Javelin Strategy & Research Study. The California-based research group reported some troublesome statistics: The number of ID theft victims last year reached 13.1 million, up by more than 500,000 from the previous year. And more than one of four cases involved “account takeover fraud.” >> Sign up for the AARP …

MyRA — Thumbs Up or Thumbs Down?

Posted on 01/30/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsA day after President Barack Obama gave the go-ahead for the Treasury Department to create a “starter” savings account, experts are weighing whether it will be worthwhile or just another ignored investment tool. Critics note, for instance, that the so-called myRA will do little to overcome the huge shortfall in retirement savings among so many workers. The conservatively invested accounts, though they won’t lose money, won’t make much of a return, either. And the myRA is voluntary, so it’s unclear …

Obama’s MyRA Gets Early Go Ahead

Posted on 01/29/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsPresident Barack Obama is moving quickly to make good on his pledge to create a new “starter” savings program for workers without a retirement plan on the job. He announced in his State of the Union speech Tuesday night that he would use his executive authority to establish a so-called myRA (my retirement account) that would allow workers to direct a portion of their pay into an account that invests in government securities. On Wednesday afternoon, he signed a presidential memorandum to …

Hackers Go Upscale, Infiltrate Neiman Marcus Accounts

Posted on 01/13/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsHackers have gone from low-end to high-end retail, as luxury merchant Neiman Marcus became the latest to announce that it’s a victim of a data breach. This comes on the heels of a disclosure last month by Minneapolis-based discounter Target, which reported hackers gained access to payment card data on about 40 million credit and debit accounts between Nov. 27 and Dec. 15.  On Friday, Target updated its breach investigation, saying the names, mailing addresses, email addresses and phone numbers …