Keyword: savings

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  • This is what happens when you get rid of 75% of your stuff

    09/27/2016 10:13:41 PM PDT · by aquila48 · 61 replies
    Market Watch ^ | Sept 27, 2016 | ALESSANDRA MALITO
    The way Cait Flanders got her financial house in order should probably come with a “Try this at your own risk” warning. First, the Canadian blogger paid off $30,000 in student and credit card debt. A year later, Flanders threw out 75% of her belongings and put herself on a strict two-year shopping ban. Since then, she’s learned a lot about money, budgeting, and why we spend — she even lost 30 pounds. Now she has some tips to share. After becoming financially free, Flanders still didn’t feel satisfied with the way she was handling her money, so in 2014,...
  • A Half Of Millennials Live Paycheck To Paycheck, Most Don't Think They Will Ever Be Millionaires

    08/03/2016 6:10:00 PM PDT · by vannrox · 40 replies
    Zero Hedge ^ | 4AUG16 | Tyler Durden
    A Half Of Millennials Live Paycheck To Paycheck, Most Don't Think They Will Ever Be Millionaires by Tyler Durden Aug 3, 2016 7:59 PM 0 SHARES In a stark refutation of Obama's "recovery" narrative, most millennials don't see a bright future for their personal finances. Take the case of Shaun Luberski, a 21-year-old recent graduate of Temple University, who is skeptical she will be able to save $1 million by the time she retires. Ms. Luberski landed a full-time job as an account coordinator at Philadelphia magazine and works various side jobs in marketing and promotions.  A big problem plaguing...
  • The Next Recession Is Coming - Expect Around 0% Returns For The Next 7 Years

    07/29/2016 10:14:23 AM PDT · by blam · 20 replies
    The Market Oracle ^ | 7-29-2016 | John Mauldin
    Jul 29, 2016 John Mauldin The next recession is coming, and it will be severe. My friend Ed Easterling of Crestmont Research just updated his Economic Cycle Dashboard and sent me a personal email with some of his thoughts. Here is his chart (click on it to see a larger version). The current expansion is the fourth longest since 1954… but also the weakest. Since 1950, average annual GDP growth in recovery periods has been 4.3%. This time, average GDP growth has been only 2.1% for the seven years following the Great Recession. That means the economy has grown a...
  • Wealth Confiscation for the Digital Age: the New “Cash Tax”

    05/11/2016 1:35:23 PM PDT · by Lorianne · 21 replies
    Wolf Street ^ | 10 May 2016 | Brian Hunt
    “Negative interest rates” have become a phenomenon with economists and the media. But I’m writing to tell you something about negative interest rates you haven’t heard. You certainly won’t hear about it in the mainstream press. What’s coming at you is a historic event. It’s something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years. If you know what’s coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this...
  • The market is going to suck for the next 10 years, you're going to have to double your life savings

    04/27/2016 5:26:17 PM PDT · by SeekAndFind · 37 replies
    Business Insider ^ | 04/27/2016 | Rachel Butt
    The "golden age" of stock market returns is over.That's the summary of a big piece of research from the McKinsey Global Institute (MGI), which estimated returns over the next 20 years in US and Western European markets under two scenarios. The first assumes that today's slow-growth environment remains, while the second models faster growth as technology improves.It concluded that in neither case would returns match those of the past 30 years. For US and European stocks, the difference between past and future annual returns could range from 1.5 percentage points to 4 percentage points. The gap for fixed-income could be...
  • Cancelled Dish, What to do with savings?

    04/22/2016 7:57:49 AM PDT · by DrJeff · 61 replies
    FR | 22 April, 2016 | DrJeff
    Cancelled DishTV today. I have "cut the cord" on and off for many years, and it's time again. I was paying $60/month on a discount plan and it went up to $120 for the same programming. I'm just not getting that kind of benefit from the cable channels. On a personal level, I don't see the value. A recent article found that more than 1,000,000 [US] consumers cancelled paid TV subscriptions in 2015, according to SNL Kagan, a division of S&P Global Market Intelligence. Last year's decline was four times greater than the losses of 2014, and it represents the...
  • Sound the Alarm: New Obama Regulations Will Push Private Retirement Savings Into Government Accounts

    04/09/2016 5:29:50 PM PDT · by Libloather · 104 replies
    Townhall ^ | 4/08/16 | Katie Pavlich
    If you thought Obamacare was terrifying, just wait until you read about what President Obama's regulatory agencies are planning to do with your retirement savings. According to an alarming report in the Wall Street Journal, government regulators at the Labor Department will be implementing new rules at the end of the year that will eventually force private retirement investments into government accounts. How? By making private investment options, specifically IRAs, too burdensome, a liability and expensive. Bolding is mine.
  • Study: No Consent Divorces Favor Women

    02/23/2016 7:35:26 PM PST · by Tolerance Sucks Rocks · 18 replies
    Chateau Heartiste ^ | February 23, 2016 | CH
    Courtesy of reader BK, a link to an economic analysis of woman-coddling divorce laws.
  • Retired Kansas teacher 'leaves $2 million in here savings

    02/13/2016 8:37:28 AM PST · by keving · 5 replies
    Daly Mail ^ | 2/13/2016 | Alexandra Genova
    A different way being helping others
  • Most Americans are one paycheck away from the street

    01/06/2016 5:59:18 PM PST · by free_life · 55 replies
    MarketWatch ^ | Jan 6, 2016 | Quentin Fottrell
    Some 63% of people can't deal with a $500 emergency. Americans are starting 2016 with more job security, but most are still theoretically only one paycheck away from the street. Approximately 63% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair, according to a survey released Wednesday of 1,000 adults by personal finance website Bankrate.com, up slightly from 62% last year. Faced with an emergency, they say they would raise the money by reducing spending elsewhere (23%), borrowing from family and/or friends (15%) or using credit cards to bridge...
  • The Year Obama Tried To Kill Your 529 College Savings Plan

    01/01/2016 9:19:34 AM PST · by Kaslin · 27 replies
    Townhall.com ^ | January 1, 2016 | John Kartch
    At the start of 2015 President Obama had a goal: use the blunt force of taxation to effectively kill 529 college savings plans. With great pride, Americans from all walks of life rely on 529 accounts to help put their kids, grandkids, nieces and nephews through college. Earnings grow tax-free and distributions are tax-free provided the funds are used for qualified college expenses. But this year Obama decided it was time to tax the earnings in 529s while pushing people toward a government program designed by his administration's best and brightest central planners. It was a spectacular failure. The public...
  • Pushing Aside 401(k)’s for Mandatory Savings Plans

    12/17/2015 1:48:41 PM PST · by QT3.14 · 71 replies
    NYT ^ | December 11, 2015 | Mark Miller
    Tony James and Teresa Ghilarducci are unlikely allies. He is president of Blackstone, the giant private equity firm; she’s a labor economist who has long advocated replacing 401(k)’s with a universal, federally managed saving plan.But the two have teamed up to push what they are calling Guaranteed Retirement Accounts, a government-sponsored plan that would require participation and contributions from any employer without its own 401(k). They both view the 401(k) defined contribution retirement system as a faulty experiment that covers too few workers, generates inadequate savings and replaces too little income in retirement.
  • Yikes: More Than Half of Millennials Have Less Than $1000 in Savings

    12/13/2015 8:30:27 AM PST · by Kaslin · 106 replies
    Townhall.com ^ | December 13, 2015 | Christine Rousselle
    A new survey of Millennials (those between the ages of 18 and 34) by How Much shows that more than half of them have less than $1,000 in savings.
  • 8 Depressing Stats About America’s Retirement Savings

    11/28/2015 6:15:46 AM PST · by SeekAndFind · 89 replies
    Fund Reference ^ | 11/27/2015 | BY MICHAEL JOHNSTON
    Only a small percentage of Americans are positioning themselves for a smooth transition to retirement. Based on the composition of the financial media, one may imagine that the bulk of American households are consumed with avoiding psychological investing traps and choosing between the various forms of smart beta. Unfortunately, however, these “challenges” are only applicable to a small segment of the population that has meaningful financial assets (or a realistic plan to acquire them). Below are eight statistics that better illustrate the status of American retirement savings, pulled from multiple recent studies.33.7: Percentage of U.S. Households with an IRA According...
  • Banks are seriously discussing negative interest rates for normal people's savings

    10/24/2015 5:12:37 PM PDT · by SeekAndFind · 92 replies
    Business Insider ^ | 10/24/2015 | Jim Edwards
    The concept of earning interest on money in the bank is so deeply ingrained into economic life that few people even know that the opposite can happen too: Banks can take a percentage of cash from your account in the form of negative interest rates, under certain conditions. Normally, this doesn't happen. Banks want your cash, and pay you interest on it, because the more deposits they have, the more they can lend it to others who pay them even more on their investments. But interest rates in Europe are so close to zero — and economic activity is so...
  • Baby Boomers are going to struggle to retire

    10/13/2015 12:44:27 PM PDT · by 100American · 160 replies
    http://myirionline.org/ ^ | 2015 | Insured Retirement Institute
    The Insured Retirement Institute has concluded, baby boomers "face a dangerous combination of being under-saved and long-lived." The IRI found four in 10 baby boomers have nothing saved for retirement, and 37% of those who do have savings have less than $100,000 put away. This spells trouble for the average 65-year old male and female who have a 50% chance of living until at least 87 and 89, respectively. The IRI says someone who retires at the age of 65 today will need more than $1 million for retirement while someone who waits until age 70 to retire will need...
  • The Real Reason People Don't Save Enough for Retirement

    10/02/2015 6:30:09 AM PDT · by SeekAndFind · 48 replies
    The Atlantic ^ | 10/02/2015 | TERESA GHILARDUCCI
    Aesop would have had a straightforward explanation for why some people just can’t manage to save up for retirement: Some people are born ants—industrious and in possession of great willpower—while others are grasshoppers, living only for today. Millennia later, sorting workers into personality-specific boxes is still the preferred way of thinking about how to get people to put more money into savings. An otherwise thoughtful survey of over 1,000 individuals and interviews with 50 people by the MetLife Mature Markets Institute identifies no fewer than 10 different variations on the grasshopper: There are “Snoozers,” “Oversleepers,” “Stewers,” “Brewers.” And then there...
  • Nearly one-third of Americans have no retirement savings

    05/28/2015 6:32:55 PM PDT · by SeekAndFind · 49 replies
    The Week ^ | 05/27/2015
    Only 63 percent of Americans have saved any money for retirement within the past year, according to a Federal Reserve survey released Wednesday.The survey of 5,800 Americans, conducted last fall, found that 31 percent of Americans have no retirement savings or pension plans. And among adults older than 45, almost 25 percent of respondents didn't have retirement savings. Thirty-eight percent of respondents, meanwhile, said they don't plan on retiring and will "keep working as long as possible," USA Today reports.
  • How to Save $1 Million In Your 401(k)

    04/25/2015 8:04:12 AM PDT · by TurboZamboni · 44 replies
    MarketWatch ^ | 3-31-15 | Andrea Coombes
    Got $1 million in your 401(k)? Some savers might be surprised how feasible that savings goal is if they put their mind — and their money — to it. Of course, if you don’t have $1 million saved, you’re definitely not alone. Just 0.42 percent of all 401(k) participants in the Employee Benefit Research Institute’s database had $1 million or more in their account at the end of 2013. EBRI’s data covers 26.4 million savers. Similarly, just a tad more than 72,000 retirement savers, or 0.56 percent of the 13 million plan participants in its database, had $1 million or...
  • Law that Made School Employees Pay More for Health Insurance Saved $1.3 Billion

    04/16/2015 6:42:32 AM PDT · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 4/14/2015 | Tom Gantert
    Statewide caps on government employee health insurance have saved Michigan public school districts a total of $1.3 billion since the 2010-11 school year, according to an analysis done by the Mackinac Center for Public Policy. The caps were implemented by a 2011 law. Districts spent $1.91 billion on employee health insurance in 2010-11, the year before Gov. Rick Snyder signed the new law. It imposed either a “hard cap” on how much schools could spend on health insurance, or required employees to pay at least 20 percent of the premiums. The cost to school districts has dropped each year since,...
  • 47% of American households save nothing

    04/08/2015 1:48:29 PM PDT · by SeekAndFind · 39 replies
    Business Insider ^ | 03/25/2015 | Shane Ferro
    This could be the scariest chart in the world, from Deutsche Bank's Torsten Slřk. Nearly half of American households don't save any of their money. If it it isn't obvious, this has a broad range of implications. People who don't save won't have any buffer should the economy turn and they lose their jobs. Longer term, people who don't save won't have the capacity to retire. It's not good.
  • Half of U.S. Households Struggle to Save Even a Few Cents

    03/30/2015 10:32:15 AM PDT · by ilovesarah2012 · 72 replies
    nbcnews.com ^ | March 30, 2015
    Brother, can you spare a nickel? For roughly half of American households they answer is "barely," according to the results of a new survey by Bankrate.com. About half reported they are setting aside no more than 5 percent of their income in savings. One in five said they're not even able to save a penny. The highest savings rates were reported by those in the middle of the income ladder; more than a third of households earnings between $50,000 - 75,000 said they're saving more than 10 percent of their incomes, a higher rate than those in the highest-income bracket....
  • Here's how much you should have saved up for retirement by now

    03/12/2015 7:52:29 AM PDT · by SeekAndFind · 55 replies
    Business Insider ^ | 03/12/2015 | Sam Ro
    You probably want to retire at some point. But before you can get there, you have to be able to answer a few questions.For example, how much money should you have already saved up if you want to retire by age 65?JPMorgan Asset Management's 2015 "Guide to Retirement" has a handy retirement savings checkpoint guide to help you with that one.To get a crude idea of how much you should have saved, find the age nearest to your age and then go across to the column with the salary nearest to your current salary. Then multiply the number you land...
  • Uncle Sam Is Coming After Your Savings

    01/26/2015 7:35:15 AM PST · by reaganaut1 · 45 replies
    Bloomberg | January 23, 2015 | Megan Mcardle
    No excerpt allowed from Bloomberg, column here.
  • Obama Wants to Tax Your Savings...Really

    01/26/2015 4:44:53 AM PST · by Kaslin · 24 replies
    Townhall.com ^ | January 26, 2015 | John Ransom
    As I have noted previously bond yields continue to go lower, and Investment News reports that it has some bond managers worried that it means that the country will suffer a bout of deflation this year, which mean that the economy, might be, could be, holy cow, a little weaker than expected. Wow. You donÂ’t say? Investment News reports that bond yields are a pretty accurate predictor of which way consumer prices will be going. And in this case the yields are saying consumer prices will be going down. ThatÂ’s good news for those of us who still buy things...
  • FORGET GOLD: Here Are 11 Odd Items People Use To Store Their Wealth

    10/22/2014 7:23:19 AM PDT · by blam · 46 replies
    BI ^ | 10-22-2014 | Akin Oyedele
    Akin Oyedele October 22, 2014"Gold gets dug out of the ground in Africa or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." That's what Warren Buffett said back in 1998. Gold has long been considered a safe-haven investment. However, the price of gold has performed dismally in recent years. For those who don't trust the conventional financial markets, there are alternative more unorthodox ways to put away wealth. We put together a list of some...
  • Biden Says Hoarders Are Retarding Economy

    09/07/2014 9:43:29 AM PDT · by John Semmens · 46 replies
    Semi-News/Semi-Satire ^ | 5 Sep 2014 | John Semmens
    Citing a paper released this week by the St. Louis Federal Reserve, Vice-President Joe Biden blamed American consumers for the sluggish economy. “The government is doing everything it can to try to stimulate the economy,” Biden contended. “The federal government is spending every dollar it can get its hands on. The Federal Reserve is manufacturing new dollars at an unprecedented pace. But consumers are just sitting on their cash.” “Hoarding cash makes no sense,” the Veep argued. “The dollar’s purchasing power is being diluted on a daily basis by government policies. Spending your dollars before they lose even more value...
  • 36% of adults lack retirement savings -- 14% of them 65 or over

    08/18/2014 12:13:58 PM PDT · by SeekAndFind · 57 replies
    Los Angeles Times ^ | 08/18/2014 | By JIM PUZZANGHERA
    More than a third of American adults have no retirement savings, including 14% of those 65 years of age or older, according to a new study released Monday. The low savings rate for people at or approaching retirement age is alarming, said Greg McBride, chief financial analyst for Bankrate.com, which conducted the survey. About a quarter -- 26% -- of those age 50 to 64 haven't started saving for retirement, the survey said; the figure was 33% of people who are 30- to 49-years-old. Overall, 36% of those 18 years or older have not started saving for retirement, according to...
  • Almost 20 percent of people near retirement age have no retirement savings

    08/08/2014 8:25:21 PM PDT · by SeekAndFind · 53 replies
    Washington Post ^ | 08/08/2014 | By Jonnelle Marte
    One in five people who are near retirement age have zero money saved. Yes, you read that correctly. The sobering statistic was one of many released by the Federal Reserve on Thursday as part of its report on the economic well-being of U.S. households, which surveyed more than 4,100 people online last year between mid-September and early October. The study offered a stark reminder that as more Americans are made responsible for their own retirement, most are not saving nearly enough. Overall, 31 percent of people said they have zero money saved for retirement and do not have a pension....
  • Nearly Half Of Us Couldn't Live A Month On Our Savings

    04/01/2014 9:01:03 PM PDT · by blam · 46 replies
    BI ^ | 4-1-2014 | Trae Bodge
    Nearly Half Of Us Couldn't Live A Month On Our Savings Trae Bodge , RetailMeNot's The Real Deal Apr. 1, 2014, 5:56 PM April is Financial Literacy Month (and dreaded tax time), so let’s talk about your financial know-how. Are you financially prepared if you need to stop working for a few months due to a layoff or illness? Do you know how much money you have lying around? What about your kids? Are you setting them on a path to financial health? RetailMeNot recently polled more than 1,000 Americans and found that overall consumers are doing pretty well on...
  • Want To Retire With $1 Million? Here's How Much You Need To Be Saving Right Now (Based on your age)

    03/24/2014 6:37:38 PM PDT · by SeekAndFind · 60 replies
    Business Insider ^ | 03/24/2014 | ANDY KIERSZ
    We recently pointed out that starting to save early for retirement is extremely helpful, and also a useful chart showing how much you should have saved at different stages of your career to ensure a comfortable retirement. To show how these ideas work, we figured out how much money you would have to set aside monthly, starting at different ages, and under different rates of return, to end up with $1,000,000 in savings when you are ready to retire at 65. Here is how much you would need to save each month at a 6% annual rate of return, starting...
  • Consider free cash from feds

    02/24/2014 2:15:42 AM PST · by Cincinatus' Wife · 21 replies
    The Pittsburg Tribue-Review ^ | February 23, 2014 | Gail MarksJarvis
    If you have a modest income, you've probably been asking yourself how you will ever be able to find the money to start saving. So here it is: Provided your income is low enough, the federal government will pay you to stash money away for your retirement — giving you as much as $1,000. The deal comes through what's known as the “saver's credit.” You can find it buried in the tax return you do each year, and if you use the free tax preparation software the government gives people with incomes below $58,000, locating the saver's credit will be...
  • Obama plan: Cut tax breaks for richest retirement savers

    02/21/2014 10:56:56 AM PST · by reaganaut1 · 60 replies
    Market Watch ^ | February 21, 2014 | Robert Powell
    President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. According to the report, the proposals are designed to direct more of...
  • Exclusive: EU executive sees personal savings used to plug long-term financing gap

    02/14/2014 10:36:17 AM PST · by BradtotheBone · 17 replies
    Reuters ^ | Wed Feb 12, 2014 6:00pm EST | Huw Jones
    (Reuters) - The savings of the European Union's 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says. The EU is looking for ways to wean the 28-country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other investment. "The economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment," said the document, seen by Reuters. The...
  • As 'Retirement Gap' Concerns Reach Across Partisan Divide, Senators Propose Savings Solutions

    02/14/2014 3:08:26 AM PST · by Cincinatus' Wife · 40 replies
    Roll Call ^ | February 12, 2014 | David Harrison
    When President Barack Obama introduced a new retirement savings plan during his State of the Union speech last month, the Republican response was uncharacteristically muted. Although Republicans were upset about the president’s new reliance on executive authority to push his agenda, they had few harsh words about the details of the retirement idea. Dubbed MyRA, Obama’s initiative is intended to allow workers who do not have access to other workplace savings plans to open an account overseen by the government that would invest in low-risk Treasury bonds. It’s a relatively modest proposal, one that would be entirely voluntary for employers...
  • Prepare For When The New MyRA Becomes "TheirRA"

    02/10/2014 11:11:19 AM PST · by blam · 10 replies
    Market Oracle ^ | 2-10-2014 | Peter Krauth
    Prepare For When The New MyRA Becomes "TheirRA" Personal_Finance / Pensions & Retirement Feb 10, 2014 - 06:47 PM GMTPeter KrauthBy: Money_Morning Personal Finance Peter Krauth writes: In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to "help" Americans build a nest egg, coining it the "MyRA." Something immediately felt wrong about the proposal... but I couldn't put my finger on it. So I researched the new MyRA and found details to help you understand just how it works. But I also saw some potential dangers there that you need to prepare...
  • The shape of 401k's to come

    02/08/2014 4:26:40 AM PST · by Libloather · 33 replies
    MSN ^ | 2/07/14 | Mark Miller
    **SNIP** The biggest change will be a new emphasis on retirement readiness, rather than simply getting workers to join a plan and contribute. The idea is to focus on actual retirement outcomes, and it reflects apprehension about the large number of Americans who are approaching retirement unprepared. If that's something you're worried about, it turns out your boss shares your concern. The 2013 Retirement Confidence Survey by the Employee Benefits Research Institute (EBRI) found that just 13 percent of workers are very confident they will have enough money to live comfortably in retirement. And a 401k benchmarking survey released last...
  • California's — And America's — Pension Debacle On Its Way: Watch Your Wallets

    02/06/2014 6:36:25 AM PST · by SeekAndFind · 9 replies
    IBD ^ | 02/06/2014 | Mark Bucher
    Hold on to your wallets, folks. Without a powerful intervention, California may soon become the first big domino to fall in America's public pension debacle. To help prevent catastrophe, the California Public Policy Center (CPPC) has just made public a new database detailing the size and scope of the state's outsized expenditures on public employees — the largest ever compiled in California. Legislators and voters should take note, because California can't afford another round of fact-free partisan warfare. As recently reported in the New York Times, the fate of California cities such as Desert Hot Springs — where civic bankruptcy...
  • MyRA? Oops! CEO: Name of Obama’s New IRA Program Already Taken

    02/01/2014 9:07:55 AM PST · by rktman · 38 replies
    CNSNews ^ | 1/30/2014 | Barbara Hollingsworth
    The president of a South Dakota-based financial services company says he was startled to hear President Obama call his new government-sponsored retirement program "MyRA" in Tuesday’s State of the Union address because that’s the same name as his firm’s four-year-old “keynote” investment product.
  • IMF paper warns of 'savings tax' and mass write-offs as West's debt hits 200-year high

    01/05/2014 3:25:47 AM PST · by Neil E. Wright · 20 replies
    Telegraph UK ^ | January 02,2014 | Ambrose Evans-Pritchard
    Much of the Western world will require defaults, a savings tax and higher inflation to clear the way for recovery as debt levels reach a 200-year high, according to a new report by the International Monetary Fund. The IMF working paper said debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, either negotiated 1930s-style write-offs or the standard mix of measures used by the IMF in its “toolkit” for emerging market blow-ups. “The size of the problem suggests that restructurings will be needed, for example, in the periphery of Europe,...
  • ObamaCare Raises Health Insurance Premiums, Especially For The Young [Consequences Happen]

    12/19/2013 2:50:46 PM PST · by SES1066 · 10 replies
    Forbes Magazine ^ | 12/05/2013 | Matthew Herper
    The Affordable Care Act has dramatically increased the cost of buying a health insurance plan on the individual market in California, Texas, Florida, New York, Illinois, Georgia, and North Carolina, states that account for more than half of America’s uninsured adults, according to a study by Sector & Sovereign, a sell-side firm that focuses on advising investors what sectors to put their money in. Worse, the firm argued in a note earlier this week, the increases in cost are most substantial for the young. According to S&S, the average deductible – the amount of money you spend out of pocket...
  • Canada to phase out home mail delivery to cut big losses

    12/17/2013 12:41:41 PM PST · by TurboZamboni · 44 replies
    Rooters ^ | 12-11-13 | David Ljunggren
    Dec 11 (Reuters) - Canada's postal service will phase out urban home delivery within five years and hike the cost of postage stamps to try to stem soaring losses, the post office said on Wednesday. Canada Post, like the U.S. Postal Service, is suffering as customers switch to digital communications. In August it said it was on track to run short of cash by the middle of 2014 unless major changes were made. The government-owned corporation - which has a mandate to be self-financing - last month reported a third-quarter loss of C$109 million ($103 million) before tax and said...
  • Many blacks and Latinos have no retirement savings, study shows

    12/10/2013 5:29:43 AM PST · by reaganaut1 · 54 replies
    Washington Post ^ | December 9, 2013 | Michael A. Fletcher
    Fewer than half of blacks and Latino workers have retirement plans on the job, leaving the vast majority of them with no savings designated for their golden years, according to a report to be released Tuesday. Americans of all races face the growing prospect of downward mobility in retirement, the report said, but the problem is particularly acute for blacks and Hispanics. More often than not, blacks and Latinos benefit little from the tax breaks and other policy initiatives aimed at bolstering retirement security because they typically have no money to save for retirement in IRAs and other vehicles outside...
  • The US needs to retire daylight savings and just have two time zones—one hour apart.

    11/01/2013 3:31:05 PM PDT · by Sergio · 90 replies
    Quartz ^ | November 1, 2013 | Allison Schrager
    Daylight saving time ends Nov. 3, setting off an annual ritual where Americans (who don’t live in Arizona or Hawaii) and residents of 78 other countries including Canada (but not Saskatchewan), most of Europe, Australia and New Zealand turn their clocks back one hour. It’s a controversial practice that became popular in the 1970s with the intent of conserving energy. The fall time change feels particularly hard because we lose another hour of evening daylight, just as the days grow shorter. It also creates confusion because countries that observe daylight saving change their clocks on different days. It would seem...
  • Slow Obamacare site repairs may limit coverage, savings

    10/29/2013 2:45:10 PM PDT · by NormsRevenge · 8 replies
    Yahoo! News ^ | 10/28/13 | Lewis Krauskopf and David Morgan - Reuters
    (Reuters) - If technical problems with the U.S. government's new healthcare website are not fixed in November, hundreds of thousands of Americans could lose easy access to lower-cost coverage, jeopardizing the Obama administration's goal of making affordable insurance broadly available in 2014. Consumers in 36 states are relying on Healthcare.gov to qualify for tax subsidies that will reduce coverage costs under the 2010 Affordable Care Act, which was expected to cover 7 million people next year alone through new private insurance marketplaces. But if glitches in the marketplaces that operate chiefly online fail to be resolved, the government might have...
  • Seniors Going Back To Work to Salvage Their Retirement Nest Eggs, Says AMAC

    10/28/2013 6:16:36 AM PDT · by smokingfrog · 27 replies
    AMAC.us ^ | 10-25-13 | AMAC Authors, press release
    Seniors who went back to work after retirement used to do it to keep busy, but the Obama Recession and the uncertainties of the Affordable Care Act have made it an economic necessity for more and more older Americans, according to Dan Weber, president of the Association of Mature American Citizens. “Two recent Gallup surveys show that there are more post-retirement job seekers out there than ever before, mainly because they’ve lost confidence in the economy. The historically destructive recession that started as the president took office and his inability to speed up the recovery have seniors scrambling for ways...
  • The Healthcare.gov Challenge

    10/02/2013 9:55:58 AM PDT · by Chris in VA · 20 replies
    Western Center for Journalism ^ | 10/2/13 | Chris McAllister
    However, in a recent speech in Maryland, Obama challenged Americans to go to “the website” to see how much money they could save under Obamacare. He said that once you do and find out how much you save, you’re going to sign up “even if you didn’t vote for me.” The website in question is www.healthcare.gov, and I did go to see how much money I could “save” under Obamacare.
  • Former VP flips burgers in retirement

    09/29/2013 6:34:25 PM PDT · by Innovative · 99 replies
    UK Mail Online ^ | Sept 23, 2013 | not stated
    Tom Palome, 77, was once a top marketing executive earning six figures and traveling first class He worked hard to pay off his mortgage and put his kids through college, but like most Americans didn’t save enough Now retired, he works two $10 an hour jobs to supplement his income Palome receives $1,200 from Social Security and a $600 a month pension from his last corporate job. Still, his $1,400 in monthly wages allows him to bolster his savings and provides for some extras. He goes to the theater, pays for plane tickets to visit his children and grandsons and...
  • Taking control of your 401K

    09/16/2013 9:55:52 PM PDT · by SteelTrap · 18 replies
    Ann Barnhardt ^ | 9/14/2013 | Ann Barnhardt
    Big Momma Barnhardt has an example of a form letter to send to your HR monkey to request that you can move your money to a company you trust. Trust being a relative term. Who should care? Anyone with a retirement fund but especially folks with all their eggs in one basket. People who have worked at the same company for a while are likely to have all their eggs in one basket. Enron you say?
  • WI senator has high praise for do-nothing Democrats

    08/28/2013 7:51:01 AM PDT · by afraidfortherepublic · 7 replies
    The Wisconsin Reporter ^ | 8-28-13 | M. D. Kittle
    MADISON – Thanks for nothing. No, really, thanks for nothing. Sen. Glenn Grothman, a staunch fiscal conservative, has nothing but praise for his peers in the Democratic Party who, he says, have done nothing to repeal Wisconsin’s controversial Act 10. The law, signed by Gov. Scott Walker in 2011, guts collective bargaining for most public employees in the state. “The press always focuses on disagreements, but the bipartisanship shown in agreeing that Act 10 should not be repealed is an untold story of us working together,” the West Bend Republican said in a statement, written, it would seem, with tongue...