Retirement Planning Gets Tough for Some Workers

As if retirement planning wasn’t challenging enough, employees of at least two big companies are facing difficult news this holiday season. Workers at Hostess are wondering how they’ll make do without the full pensions they’d counted on in retirement since the company underfunded its employees’ pension plan by at least $55 million. (Some reports put that amount as high as $2 billion.) The makers of Twinkies used that money to keep the business operating. But after a labor dispute, Hostess announced …

In Sync on Finances: Not Parents and Adult Kids

No one wants to be a burden on their kids in retirement. But how parents and their adult children view some of the more pressing issues that aging brings – such as caring for sick elders or helping them financially during their retirement years – seems to be in conflict. Fidelity Investments asked 975 parents age 55 and older, and their adult children age 30 and up, whether the two generations talked in-depth about issues related to health and money …

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.