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Keyword: savings

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  • Month One: Walker Budget Working

    08/22/2011 3:09:32 PM PDT · by afraidfortherepublic · 19 replies
    Madison—One month after the 2011-13 state budget was signed into law, tangible results from the reforms put in place by Governor Walker and the Legislature are being realized. According to media reports, local units of government and school districts have already saved more than $220 million, with millions more in potential savings not yet reported. The state is also adding jobs. Between December 2007 and December 2010, Wisconsin lost over 153,600 private sector jobs. The state has netted over 39,000 new private sector jobs since the Governor called a special session to open Wisconsin for business. The state has seen...
  • Saving Our Way to Prosperity

    06/29/2011 7:33:14 PM PDT · by NaturalBornConservative · 3 replies
    Natural Born Conservative ^ | June 29, 2011 | Larry Walker, Jr.
    Yes. You Can.- By: Larry Walker, Jr. -According to Barack Obama, "We can’t simply cut our way to prosperity." Prior historical references: Unknown. Upon hearing such an absurd statement, and being of the homo economicus persuasion, my first instinct is to define what it means to me, and then to determine whether it has any relevance in my life. If we are honest, we must each define what the word prosperity, or rich, means to us. Only after we have defined its meaning are we able to chart a course.In the article, “How to get rich,” there are seven...
  • The Republican Who Can Win : Someone who know Americans are more worried about jobs and savings

    06/03/2011 11:22:44 AM PDT · by SeekAndFind · 40 replies
    Wall Street Journal ^ | 06/03/2011 | Dorothy Rabinowitz
    The candidate would know Americans are more worried about their jobs and their savings than abstractions like 'big government.' To win the presidency in 2012, the Republican candidate will require certain strengths. Among them, a credible passion for ideas other than cost-cutting and small government. He or she will have to speak in the voice of Americans who know in their bones the extraordinary character of their democracy, and that voice will have to ring out steadily. That Republican candidate will need, no less, the ability to talk about matters like Medicare and Social Security without terrorizing the electorate. Americans...
  • Legislation May Restrict Investors’ Access to 401(k)s

    05/23/2011 11:06:49 AM PDT · by John Semmens · 7 replies
    Concerned that “short term desires to put food on the table may interfere with the Government’s ability to adequately control the nation’s resources,” legislation that would limit people access to their 401(k) funds has been introduced in Congress. A Bill titled the Savings Enhancement by Alleviating Leakage in 401(k)s Act, otherwise known as the SEAL Act, was jointly introduced by Senators Herb Kohl (D-Wis) and Mike Enzi (R-Wyo). The legislation aims to reduce the number of loans a person can take out using his 401(k) as security. “There is a risk that too many people will put personal needs ahead...
  • Broken Piggy Bank: 'Leaky' 401(k)s Worry Congress (SEAL Act - Savings Enhancement by Alleviating...)

    05/20/2011 9:28:19 AM PDT · by Libloather · 42 replies
    ABC News ^ | 5/20/11 | ALAN FARNHAM
    Broken Piggy Bank: 'Leaky' 401(k)s Worry CongressBy ALAN FARNHAM May 20, 2011 Americans in record numbers are raiding their 401(k)s, depleting their retirement savings to compensate for paychecks and mortgage equity lost to the recession. As employers and savings plan providers struggle to stem the outflow of money, two senators have introduced legislation that would make it both harder for employees to dip into company-sponsored retirement savings and easier to repay their borrowings. The SEAL Act (Savings Enhancement by Alleviating leakage in 401(k) Savings) introduced by Sens. Herb Kohl, D-Wis., and Mike Enzi, R-Wyo., would reduce to three the number...
  • Why don’t blacks save more?

    04/16/2011 4:54:34 AM PDT · by reaganaut1 · 55 replies
    Reuters ^ | April 12, 2011
    Yet another survey confirms what we already know: Blacks don’t save as much as their white counterparts. According to Prudential’s new study — the African American Financial Experience — 60 percent of African-Americans have less than $50,000 in company retirement plans and only 23 percent have more than $100,000. They’re also three times more likely to raid their 401(k) or other retirement plans to meet immediate financial needs, the study says. Prudential’s findings echo research by Ariel Investments, which looks at middle class blacks. (According to Ariel’s July 2010 study, the median assets blacks have retirement plans is about half...
  • Obama rejects huge savings

    04/13/2011 5:37:43 PM PDT · by simka · 8 replies
    IBM | Mr Palmisano
    This should be sent to every American to show them what this President really thinks and that he is anti-capitalist, anti-private-sector and cannot be trusted in telling the truth. ------------------------------- ----- This message has links at the bottom to verify it's content. IBM offered to help reduce Medicare fraud for free... What if I told you that the Chairman and CEO of IBM, Samuel J. Palmisano, approached President Obama and members of his, before the healthcare bill debates, with a plan that would reduce healthcare expenditures by $900 billion? Given the Obama Administration's adamancy that the United States of America...
  • Fed's Low Interest Rates Crack Retirees' Nest Eggs

    04/04/2011 10:41:23 AM PDT · by Palter · 18 replies
    WSJ ^ | 04 April 2011 | MARK WHITEHOUSE
    Forrest Yeager, a 91-year-old resident of this seaside community, had been counting on his retirement savings to last until he died. The odds are moving against him. With short-term bank CDs paying less than 1%, the World War II veteran expects his remaining $45,000 stash to yield just a few hundred dollars this year. So, he's digging deeper into his principal to supplement his $1,500 monthly income from Social Security and a small pension. "It hurts," says Mr. Yeager, who estimates his bank savings will be depleted in about six years at his current rate of withdrawal. "I don't even...
  • Public Employees Rush to Retire

    03/23/2011 1:18:42 AM PDT · by Scanian · 54 replies
    Wall Street Journal ^ | MARCH 23, 2011. | IANTHE JEANNE DUGAN
    Public employees are retiring at a quickening pace around the U.S., providing a mixed blessing for state and local governments seeking to save money. The retirements mean employers can shelve some planned layoffs. And some of the departing workers, generally more senior and higher paid, are being replaced by lower-paid employees with less-generous retirement benefits, government officials say. But the loss of veterans threatens to erode the quality of public services that make communities attractive, they say. The exodus of public employees is an unintended consequence of states' financial struggles. Some workers have been required to take unpaid furlough days,...
  • Retirement Planning Advice for My 20-Something Son

    02/24/2011 9:55:30 PM PST · by BenLurkin · 47 replies
    cbs ^ | Friday, February 25, 2011 | Steve Vernon
    Establish smart spending habits. Live like you're poor. How do you do that? Drive your cars into the ground, don't eat out very much, avoid expensive and potentially unhealthy processed foods, buy food in bulk, buy just enough clothes to fit your needs, and use public transportation. ... Use credit cards only as a convenience to avoid carrying cash; limit your credit card spending so that you can easily pay off the balance each month. Make every dollar count with your spending, so you can free up money to invest in the future. Get healthy. One of the best things...
  • Virginia Lawmaker Wants To Castrate Sex Offenders

    01/29/2011 5:30:43 PM PST · by Tolerance Sucks Rocks · 31 replies
    NBC Washington ^ | January 27, 2011 | Brandon Benavides
    Virginia state Sen. Emmett Hanger is pushing a measure that would allow for the castration of sex offenders. The controversial proposal passed the Virginia General Assembly four years ago, but then-Governor Tim Kaine vetoed it. The bill would require the state to study the use of physical castration as an alternative to civil commitment for those deemed sexually violent predators. Now, the Commonwealth pays to detain and treat sex offenders after they served their prison sentence. Hanger acknowledged that castration isn't the answer for all offenders, but said studies have shown it to work on many. He said Virginia must...
  • Medicare official doubts health care law savings

    01/26/2011 2:05:11 PM PST · by MissesBush · 5 replies
    AP/Yahoo News ^ | 01/26/11 | RICARDO ALONSO-ZALDIVAR
    WASHINGTON – Two of the central promises of President Barack Obama's health care overhaul law are unlikely to be fulfilled, Medicare's independent economic expert told Congress on Wednesday. The landmark legislation probably won't hold costs down, and it won't let everybody keep their current health insurance if they like it, Chief Actuary Richard Foster told the House Budget Committee. His office is responsible for independent long-range cost estimates. Foster's assessment came a day after Obama in his State of the Union message told lawmakers that he's open to improvements in the law, but unwilling to rehash the health care debate...
  • Don't Bank on It

    01/23/2011 10:53:49 AM PST · by FromLori · 13 replies · 1+ views
    WSJ ^ | 1/22/2011 | AL LEWIS
    Disappointing earnings, shrinking revenues and optimism that somehow the economy is improving despite an ongoing housing hangover -- this is what America's biggest banks offered as they released year-end financial results last week. "Last year was a necessary repair and rebuilding year," Bank of America CEO Brian Moynihan said Friday. Yes, we know. The shards of our broken economy remain scattered on the ground and we're gluing them back together. What else could Mr. Moynihan say as he announced a 2010 loss of $2.2 billion? "We enter 2011...against a backdrop of an improving economy," he said. But then he qualified:...
  • Heartwarming child's gift

    11/28/2010 4:13:21 AM PST · by mountaineer1997 · 2 replies
    WCHS ^ | 11/28/2010 | Leslie Rubin
    Thanks to a generous and wonderful little guy who wants to make his, and our, world a bit better!
  • Melinda Gates pledges $500 mn more for world's poor( To Help The World's Poor Save More Money)

    11/18/2010 2:49:48 PM PST · by Captain Peter Blood · 34 replies
    Yahoo News ^ | 11/18/2010 | Yahoo News
    Thu, Nov 18 08:43 PM Washington, Nov 18 (IANS) Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, Thursday pledged another $500 million for the world's poor as she hailed a historic moment that will help bring financial services, particularly savings accounts, to hundreds of millions of people living on less than $2 a day. Speaking at the foundation-hosted Global Savings Forum in Seattle, the first global gathering focused on the role of savings in the developing world, Gates urged leaders in government, banking, mobile communications, and international development to work together to build a new kind of financial...
  • Mark Hemingway: Unions target your private retirement savings

    11/01/2010 8:40:42 AM PDT · by Nachum · 37 replies · 1+ views
    Washington Examinier ^ | 11/1/10 | Mark Hemingway
    Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that. On Oct. 8, the two senators from the Health, Education, Labor and Pensions (HELP) Committee held a hearing on "Retirement (In)security in America." Among the proposals discussed was "Guaranteed Retirement Accounts," or GRAs. The purpose of the GRA proposal is simple: To force Americans to stop putting their retirement savings money into private 401(k) accounts and send their...
  • New Rules Coming for Payments Out of Health Savings Accounts

    10/28/2010 10:56:57 PM PDT · by T.L.Sink · 43 replies
    Fox News ^ | Oct. 16, 2010
    Under the new health care law, consumers using workplace pre-tax health savings accounts will soon need a doctor's note to pay for Tylenol and an estimated 15,000 other over-the-counter drugs. Starting Jan. 1, employees who use flexible spending accounts, health saving accounts, or health reimbursement arrangements to pay for common medications such as pain relievers, cold medicines, antacids and allergy medications will need prescriptions. The new rules will prohibit the use of such debit cards becsuse the IRS says there's no way to prove the drugs are prescribed. The IRS says any money removed from HSA accounts to pay for...
  • Does It Make Sense to Decrease Your Retirement Savings to Pay Down Your Mortgage?

    10/27/2010 1:25:57 PM PDT · by Kaslin · 75 replies ^ | October 27, 2010 | Carrie Schwab Pomerantz
    Dear Carrie: I'm 60 and will probably retire between age 66 and 70. I currently have $375,000 in IRA/401(k) funds and I'm adding 8 percent of my income annually. My employer matches a portion. I still have a mortgage of over $165,000 at 4.75 percent. I'm wondering... should I stop my 401(k) contributions and apply that money in extra principal on my mortgage? If I do, I'd pay my house off in about 10 years, making life a lot easier when I retire. But I'd lose the tax advantages as well as the employer match. One idea is to contribute...
  • Fed Reserve Officials: Americans Are Saving Too Much Money, We Need To Purposely Generate Inflation

    10/08/2010 9:45:50 AM PDT · by WebFocus · 30 replies
    The Economic Collapse ^ | 10/08/2010 | Economic Collapse
    Some top Federal Reserve officials have come up with a really bizarre proposal for stimulating the U.S. economy. As unbelievable as it sounds, what they actually propose to do is to purposely raise the rate of inflation so that Americans will stop saving so much money and will start spending wildly again. The idea behind it is that if inflation rises a couple of percentage points, but consumers are only earning half a percent (or less) on their savings accounts, then there will be an incentive for consumers to spend that money as the value of it deteriorates sitting in...
  • Heh Look The Market Is Up 0.2% And You Are Starving

    09/28/2010 10:27:44 AM PDT · by jacquej · 34 replies
    The ^ | 9/28/2010 | Karl Denninger
    ........ "This is the game being played to "pump confidence" in the stock market. The Fed comes in and "POMOs" their so-called MBS "rolloffs", and the money immediately goes into speculation. This drives up equity prices, but it drives down the dollar by more (about 12% since this new "POMO" program began in June) and in turn this is immediately reflected in higher commodity prices." .......