retirement savings

States Step Up for Retirement Security

Posted on 07/16/2013 by | AARP Blog Author | Comments

PoliticsAre you saving (enough) for retirement? The numbers paint a worrisome picture – for Americans, our families and the nation. Three-quarters of Americans age 55-64 had less than $30,000 in their retirement accounts as of 2010. And, more than 70 million American workers do not have any type of employer-sponsored retirement plan. Clearly, we need some help to get on the road to retirement savings – and more effective ways to save money for our future. This is where the …

For Many Small Business Owners, Retirement Savings Take a Backseat

Posted on 07/11/2013 by | General News | Comments

Bulletin Today | Money & SavingsBy Joyce M. Rosenberg, Business Writer, The Associated Press Kari Warberg Block calls it her day of reckoning. It was the day 10 years ago that she realized she had saved nothing for her retirement. “I started thinking about all the money that had run through my hands over the years, millions of dollars,” says Block, owner of Earth-Kind, a manufacturer of rat and mice repellent. “I was sick to my stomach.” For many small business owners, the golden years …

Education Crisis: Student Loan Rates Soar

Posted on 07/3/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsFor college students like my son who rely on federal student loans to help finance their higher education, and for older workers who’ve returned to school in an effort to boost their job opportunities, these are anxious times. Just one month before the fall semester begins, Congress on Monday failed to stop student loan interest rates from doubling. Now interest rates on subsidized Stafford loans, which are part of  students’ financial aid package, stand at 6.8 percent. That’s double the …

Retirement Savings: Are We There Yet?

Posted on 07/2/2013 by | Money and Work | Comments

Bulletin Today | WorkOK, so maybe you won’t be buying a second home in Aspen in retirement. But a new analysis of our 401(k) plans suggests we’re inching closer to other retirement goals, like saving enough money so that we won’t have to wrestle the cat for food when we’re older. Though it may not seem like enough just yet, our 401(k) balances have hit their highest levels in seven years, an average of $81,240 in 2012, according to human resources consultant Aon …

Millions of Near-Retirees Have No Savings

Posted on 06/21/2013 by | Money and Work | Comments

Bulletin Today | WorkAn examination of how Americans are preparing for retirement finds that, overwhelmingly, they aren’t. As many as 18.3 million households with workers ages 45 to 64 have no retirement savings whatsoever, according to a new report from the National Institute on Retirement Security. When their entire net worth was taken into account (including real estate and other assets), about one-third still fell short of what they’ll need to maintain their standard of living in retirement. “The retirement savings gap — what …

Average 401(k) Balances for 55-Plus: $255,000

Posted on 06/17/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsHell-o 401(k). So nice to see you increasing in value. Here’s hoping for a record second quarter just like the first. Strong employee/employer contributions and a rocking stock market boosted the average 401(k) balance during the first three months of the year. It hit $255,000 for participants age 55 and older who worked at their current employer for 10 years or more, according to a Fidelity Investments quarterly analysis of its 401(k) accounts, which had more than 12 million participants. …