I’m Taking Away Your Allowance

Q: My husband will not quit spending. He has purchased several vehicles, only to trade them in for less than we owed on them. During our 18-year marriage, we have refinanced our house six times to pay off loans and credit cards. When we refinanced this last time, I refused to pay any of his credit cards or loans off. I would not have even considered refinancing again, but the low rates were appealing. That was 21/2 years ago. I …

Check the Math: Social Security Is a Good Deal

It’s a question lots of people have about Social Security: Do you get back as much as you put in? But this question only gets at part of the story: Social Security is a kind of insurance, not just an investment. It protects you and your family from things nobody wants to think about — death and disability. In other words, it contributes to well being and peace of mind in ways that may be impossible to measure. A few …

Have Social Security Questions? New Path to Fast Answers

If you’re like most people at a certain life stage, you probably have more questions than answers when it comes to navigating the Social Security maze. The good news is that whatever your question, the odds are that someone else has asked it already. AARP has logged more than 11,000 questions about Social Security – and now there is an online tool to give you the answers on topics relevant for you. Curious how your retirement benefit is calculated? Would …

Gen X and Y Saving More, Earlier Than Boomer Parents

Call it generational rebellion at its finest: It seems all the gloomy retirement forecasting for boomers has been inspiring their kids to save more. Workers in Gen X and Gen Y are both starting retirement savings earlier and more likely to make automatic contributions than members of the boomer generation, according to a new survey.

Dreaming Of An Easy Retirement? Calculators Can Help Get You There

We talk about retiring and visions of frolicking on a sun-drenched beach with coconut-infused cocktails give way to anxiety and even fear. Retirement is close enough to smell and taste and touch. But will we ever feel assured that we’ve saved enough to live comfortably and pretty much in the same manner as when we worked? The average retirement age has crept up gradually over the years, from 62 in the mid-1990s to 64 for men, and from 60 to …

Half of Americans Die With Virtually No Money

Many of us boomers and older adults fear that we’ll retire with too little saved, and that over time, we’ll outlive our savings and die with empty pockets. Well, a study has now confirmed our worst fears:  46 percent of people die with either no financial assets, or less than $10,000. Many of these households didn’t own a home (or gave up ownership later in life) and relied almost entirely on Social Security benefits for income, according to the recent analysis of households …