1 In 4 Older Adults Can’t Come Up With $2,000

The deep recession ended four years ago, but the financial fallout remains for many older Americans. Some are so strapped that if an unexpected expense like a  major car or house repair arose in the next month, more than 1 in 4 adults age 55 or older couldn’t muster $2,000 to pay for it. Tapping into their home equity for financial help isn’t an option for 1 in 12 in that age group. They owe more on their home than …

Retiring Later? Join the Club

The brutal economic downturn that began in 2008 and the subsequent sluggish recovery has thrown a cold splash of reality on many Americans’ dreams of a comfortable, stress-free retirement. So it’s probably not much of a surprise that Americans are now retiring at an older age than they did just a few years ago, and that most of us expect to keep working to age 65 or older. The big surprise, though, according to Gallup’s newly released annual economic and …

Ready, Set, Retire. Or Not.

How can we be brave enough to retire when our nest eggs aren’t moving in the right direction fast enough? Many of us older workers are still smarting from financial crisis and the toll it took on our net worth. We watched our retirement savings fall and start to inch their way back. But we’ve also been told, time and again by financial experts, that we need to stay on the job longer to save as much as we can so …

401(k) Accounts Head North Amid Market Gains

Need a pick-me-up to go with your morning cup of coffee? Try checking out your 401(k) account. It should be fatter today. As the stock market continues to climb, so do our retirement accounts. In the last week, in fact, our portfolio balances likely increased by much more than we expected. [Retirement shortfall? See how to get back on track.] The Dow Jones index is up by nearly 2 percent in the last week, flirting with the high 14,000 mark. …

How Much Do You Need to Retire? Ask Your Employer.

Unless you’ve saved  11 times your final pay ($550,000 if you were earning $50,000), don’t even think about retiring. And because few of us haven’t saved close to that, a growing number of employers are making it a bigger priority to help their workers plan adequately for retirement, a new survey says. As pension plans vanish and 401(k)s gyrate with the stock market, we know too well that workers are under more pressure than ever to save for their future. So Aon …

Meet This $50,000 Retirement Contest Winner

“Learning about retirement planning has never been so much FUN!” Fun? Some people might use other “f” words. Maybe winning $50,000 would help change your mind. It was a game-changer for one woman (more on her in a minute). For many, retirement planning falls between somewhat intimidating to downright frustrating, or maybe even depressing – especially if you are, or have been, out of work. Those are just a few reasons why AARP’s financial security education team decided to inject some …