It’s bad enough being scammed out of your money once. But some older consumers are being conned a second time by so-called asset recovery companies promising to help recover the money lost in the initial fraud, the Consumer Financial Protection Bureau (CFPB) warns.
Small businesses would be able to band together to create a joint 401(k) retirement plan, and some part-time workers could participate in their employer’s plan, under proposals to be included in President Obama’s final budget to Congress.
If you recently changed your password to “starwars” in honor of the blockbuster movie, congratulations. Your new password is among the world’s worst — or rather, one of the most hackable.
A friend sent me the following article from the USA Today insert of his local paper. The article proclaimed “ The 60/40 stock-and-bond portfolio mix is dead in 2016” and went on to explain that with bond interest rates near historical lows, one should reach for higher returns by taking more risk with stocks. The article quoted one adviser who suggested investors in their 60s invest 70 to 80 percent of their portfolio in stocks.
The U.S. Department of Labor is paving the way for states to sponsor retirement plans for millions of private-sector workers who don’t have such programs on the job.
Workers are often confused about Social Security, which can lead them to shortchange themselves later when claiming benefits.
Perhaps you’ve heard that low-cost passive index mutual funds tend to perform better than funds in which managers actively pick stocks. By my calculations, however, over any given year, roughly 42 percent of actively managed funds outperform the low-cost index. So buying the index fund seems to be shooting for being only slightly better than average. Yet don’t most of us want to be an A student at the top of the class?
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