This week, we unveiled our new Saving for Retirement ad campaign to empower Americans to take control of their financial futures. In fact, two in five households headed by Americans ages 55-64 have no assets saved for retirement, according to the National Institute on Retirement Security.
Whom do you turn to when you need advice on managing your personal finances? A family member? A close friend? Or do you have a financial planner on speed dial? When there is mention of a financial planner, people often think it’s a service for the wealthy. It’s time to debunk that myth. Financial planners are not only for those with lots of money, they are for anyone needing to get financial matters in order. If you don’t think it’s true, check out one of the free Financial Planning Days events happening in your city from Oct. 3 through Nov. 7.
Some people might prefer bathing the dog to sitting down and creating a f inancial plan. However, adults who take the time to develop a comprehensive financial plan are more likely to manage their money successfully, and are more confident about reaching their goals, like saving for retirement or paying off credit-card debt, according to a report released Wednesday.
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.
Thinking about your eventual retirement? If you're relatively well-off, you're probably confident that your tax-deferred savings will provide your major source of income. But if you're at the other end of the income ladder, you're more likely to count on Social Security benefits to tide you over.
More than 20 years ago, Celia Nathan's mother became very depressed. As she was flying from Maryland to Savannah, Ga. to see her mother, Celia read a book a friend had given her about depression. The book described recreation therapy and how it helped those with depression. Celia, always an active person, said she was immediately hooked. "I thought here's a profession where you're helping people and also involves recreation!" she told me recently.
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