Home & Family | Money & Savings | Your LifeMore than 20 years ago, Celia Nathan’s mother became very depressed. As she was flying from Maryland to Savannah, Ga. to see her mother, Celia read a book a friend had given her about depression. The book described recreation therapy and how it helped those with depression. Celia, always an active person, said she was immediately hooked. “I thought here’s a profession where you’re helping people and also involves recreation!” she told me recently. So she kept exploring the field and …
Bulletin Today | News RoundupsWhat’s a worse financial plan than taking a loan from your retirement savings? Taking a loan from your retirement savings and not paying it back. Yet a growing number of Americans are doing just that, according to a new study from financial services firm Navigant Economics. Defaults on 401(k) loans totaled $37 billion in recent years.
Bulletin Today | News RoundupsWhile most Americans with 401(k)s or individual retirement accounts embrace a “set it and forget it” philosophy, some anxious retirement savers are getting increasingly aggressive with their investments, according to the Los Angeles Times. Worried about the toll the past decade has taken on their savings, Americans nearing retirement are day trading mutual funds and stock options in a bid to make up for lost time.
Bulletin Today | News RoundupsReverse mortgages are not being used as Congress intended, according to a new report from the government watchdog agency Consumer Financial Protection Bureau (CFPB). Reverse mortgages were created to provide an income options for retirees. But these mortgages are increasingly being taken out by younger borrowers, which could decrease long-term retirement security. Borrowers also tend to take lump-sum payments that can be used up quickly.
Home & Family | Money & Savings | Your LifeAre you a caregiver, like me, who thinks about everyone besides yourself? Could you use a day to feel pampered? I know how it is, running around with to-do lists. At 41, I’m already beginning to think about my future, but with my crazy schedule I hardly have time to think about where I’ll be in one year, let alone 10 years…. Thankfully, I know some great folks inside AARP that are helping to make my decisions easier. And now …
Bulletin Today | News RoundupsIf you have children, you’ve probably thought about who would care for them should something happen to you. But have you thought of who might care for aging parents? Today’s society demands “new considerations” when it comes to estate planning, says the BMO Retirement Institute. The group’s new report, “Estate planning in the 21st century: New considerations in a changing society,” instructs Americans to review estate plans to factor in parents, pets and technology.