Bulletin TodayEmployees contributed more to their 401(k) plans in 2011, according to Fidelity Investments, and matching contributions from employers were up, too. But despite this uptick in contributions, the year-end average for Fidelity’s 401(k) participants was down.
The Takeaway: U.S. Retirement Assets Declining Again; Payroll Tax Deadlock Ends; World’s Oldest Yoga Teacher
Bulletin TodayAmericans’ retirement assets lost a total value of $1.4 trillion last quarter, the first decline since the depths of the recession three years ago, according to a new report … After initially rejecting the measure, House Republican leaders yesterday agreed to a two-month payroll tax cut extension—and, with it, an extension of federal unemployment benefits and a temporary ‘doc fix’ … And Bernice Bates, 91, has been named the world’s oldest yoga teacher by Guinness World Records.
Money & SavingsStocks plunge. The fear’s back. Market mayhem. Just scanning financial headlines is enough to make you sick to your stomach – figuratively or literally. And people who are retired or close to it have more reason to worry. But the experts seem to have a clear message: don’t panic (and remember to be thankful for Social Security). We’re not suggesting a tattoo… A pep talk, and some practical advice, would probably make more sense. Watch Surviving a Market Downturn or How to …
Bulletin TodayIs America ready for more “old” men? That’s the discussion that’s taking place in Room for Debate over on NYTimes.com. As the number of men over 65 has increased by 21 percent in the last decade “what are the implications – the benefits and the costs – of having more men around longer?” Women generally outlive men, so how would our lives change with more older men in the country? Will you have to support both parents instead of one? …
PoliticsYesterday’s mass sell-off was one of the worst days in the Dow’s history as the credit crunch claimed a new victim in the Lehman Brothers.