It’s Tax Day! Don’t Forget to File

If you’re rushing to get your taxes done before today’s midnight deadline, take some comfort that you’re not alone. The Internal Revenue Service expects to receive about 35 million returns in the last week or so before the filing deadline. At this point, the time for most moves to lessen your tax bite is long over, although even on this deadline day you may have one more opportunity. It’s still possible to make a 2013 contribution to a deductible individual retirement …

Why Your Children Should Help Pay for College

Spring means college admissions, and we still recall the agonizing wait for the mail carrier. A thin envelope brought bad news, a thick envelope acceptance. Today, though, the “envelope” arrives via email – and that’s not all that’s changed. These days, the sticker price for private colleges starts at about $40,000 a year, going much higher for a prestigious institution; in-state schools run about half that. Nearly as soon as the anxiety on the admissions front dissipates, it’s replaced by …

Who’s Feeling Better About Retirement?

Last year’s rising stocks and recovering real estate market appear to have increased workers’ retirement confidence as well. According to an annual survey of 1,000 workers by the Employee Benefit Research Institute, 18 percent say they were very confident they’d be able to retire comfortably. That may not seem like much, but it’s a 5 percentage-point jump from a year earlier. Jack VanDerhei, EBRI’s research director and an author of the study, says the rise in confidence was among those …

AOL Reverses 401(k) Policy After Blowback

Like boomers (and all workers, for that matter) don’t have enough to worry about when it comes to saving enough for retirement. Now actions by AOL’s Tim Armstrong may be setting a dangerous example for other companies to follow. First, the chief executive of AOL told employees Thursday he was changing the company’s 401(k) match to a year-end lump sum contribution rather than contributions throughout the year. Leave before Dec. 31, 2014 (voluntarily or involuntarily), and you lose out on …

Is Your State a … Weakling?

Politico Magazine has tallied the numbers, and the Oscar for best state goes to … New Hampshire. Actually, the magazine’s ranking is pegged to a different winter event: the president’s annual State of the Union address. Here’s what Politico‘s Margaret Slattery has to say: Tuesday, President Obama, if precedent holds, will declare that the state of America’s union is “strong.” Is it? One way to judge is by the state of the states of the union: How strong are they, and, …

Tools to Shore Up Retirement Savings

The road to retirement may seem uncomfortably short, particularly if you’re in your 50s and haven’t saved much. The latest Federal Reserve data shows that households with people ages 55 to 64 have accumulated a median $120,000 in retirement savings. That amounts to about $400 to $500 a month in income, according to a CNBC report, on top of the average monthly Social Security benefit of $1,294. If you’re 10 to 15 years out from your projected retirement date, it’s …