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Keyword: savings

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  • Here's how much the average family in their 50s has saved for retirement

    04/22/2017 11:01:48 AM PDT · by SeekAndFind · 117 replies
    CNBC ^ | 04/22/2017 | Kathleen Elkins
    By age 50, your golden years are just around the corner. To be financially ready to retire by 67, retirement-plan provider Fidelity Investments says you should aim to have eight times your salary saved by age 60. Are Americans on track? According to a report from the Economic Policy Institute (EPI), many Americans have some catching up to do. The mean retirement savings of a family between 50 and 55 years old is $124,831. For families with members between 56 and 61, the mean retirement savings is $163,577. But those numbers aren't representative of the state of American retirement....
  • How the U.S. Military Can Save $1 Trillion

    04/19/2017 7:50:37 PM PDT · by Tolerance Sucks Rocks · 38 replies
    The Cato Institute ^ | November 6, 2016 | Benjamin H. Friedman
    The United States could reduce Pentagon spending by over a trillion dollars in the next decade-spending $5.2 trillion rather than the currently planned $6.3 trillion- by adopting strategy of military restraint. That’s the bottom line of a study I produced along with several colleagues as part of “Developing Alternative Defense Strategies 2016,” an exercise organized by the Center for Strategic and Budgetary Assessments, where groups from five think tanks used CSBA’s “Strategic Choices” software to reimagine the U.S. military budget.The others all increased military spending. The teams from the Center for New American Security and the Center for Strategic and...
  • Legislation seeks to eliminate $1 Federal Reserve note, Lincoln cent

    03/31/2017 8:19:18 PM PDT · by Tolerance Sucks Rocks · 90 replies
    Coin World ^ | March 31, 2017 | Bill McAllister
    Advocates of abolishing the $1 Federal Reserve note are at it again, this time hoping that President Donald Trump and conservative Republicans will finally side with their three-pronged approach to revamping the nation’s currency system. Under S. 759, introduced March 29 by Sens. John McCain, R-Ariz., and Mike Enzi, R-Wyo., the government would end production of the $1 Federal Reserve note, revise the composition of the 5-cent coin, and suspend production of 1-cent coins. While the draft legislation calls for an end to paper dollar notes and the cent, it is silent on dollar coin production. Backers of the legislation...
  • The Majority of Millennials Have $1,000 or Less in Savings

    02/20/2017 2:33:22 PM PST · by Jyotishi · 47 replies
    HowMuch.net ^ | December 11, 2015
    Millennials are projected to number 75.3 million for 2015, surpassing a projected 74.9 million for Baby Boomers. The Millennials will therefore comprise a greater percentage of the population than Baby Boomers for the first time. To gain insight into the saving habits of Millennials, we recently performed a survey of those from the ages of 18 to 34. We received 2,585 responses to our survey. The results of our survey found that over 50% of Millennials have less than $1,000 in savings. This would indicate that most millennials do not have a cushion to fall back on in case of...
  • Closing This One Loophole Could End The Road Toll Debate Right Now

    02/15/2017 8:34:39 AM PST · by Tolerance Sucks Rocks · 1 replies
    The Huffington Post ^ | February 10, 2017 | Paul de Jong
    As cities across Ontario finalize their budgets and try to squeeze out savings to expand public transit, something doesn't add up. Too many cities, including Toronto, are missing out on hundreds of millions in savings. That's because Ontario has a labour law loophole that's putting cities, companies and taxpayers at a huge disadvantage. The heated debate over road tolls in Toronto has distracted from a far simpler way of saving for public transit expansion. Here it is: Change the way construction projects are tendered. Right now, Toronto and too many other municipalities including Hamilton, Sault Ste. Marie and the Region...
  • Venezuelans fight to protect their savings as government pulls bills from circulation

    12/14/2016 9:30:43 AM PST · by Tilted Irish Kilt · 32 replies
    fusion.net ^ | 12/13/2016
    CARACAS— Venezuelans are rushing to the banks this week in a desperate attempt to protect their savings from the government’s latest spasm of reckless financial policymaking. On Tuesday morning thousands of people across Venezuela played hooky from work to line-up outside banks and deposit bundles of cash into their savings accounts after the government gave everyone a 72-hour countdown to turn in all their 100 bolivar notes before they’re removed from circulation. “I’ve been saving for so long, withdrawing money every week and for what? Nothing!” complained José Orozco, who was holding a backpack full of money as he stood...
  • 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...