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Keyword: savings

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  • Where does your toll money go? Miami drivers, sick of traffic and expense, want to know

    10/16/2018 8:05:08 AM PDT · by Tolerance Sucks Rocks · 24 replies
    The Miami Herald ^ | October 10, 2018 | Dylan Jackson
    In life, some things are unavoidable: death, taxes — and if you live in South Florida — tolls. Coughing up money to drive on the highways add to the cost of living in South Florida. Drivers in Miami-Dade and Broward spent more than a half billion dollars in tolls fees in the last year. Consider: A daily trip from Kendall to downtown Miami costs over $4 roundtrip by Sunpass, or about $1,000 a year for a five-day a week, 50-week commuter. For those who haven’t signed up for Sunpass, the toll-by-plate rate of almost $8 per day amounts to $2,000...
  • 1 in 3 Americans have less than $5,000 saved for retirement

    08/27/2018 12:25:53 PM PDT · by TangledUpInBlue · 112 replies
    CNBC ^ | 8/27/018 | Kathleen Elkins
    The vast majority of Americans, 78 percent, say they're "extremely" or "somewhat" concerned about not having enough money for retirement, according to Northwestern Mutual's 2018 Planning & Progress Study. And for good reason: A shocking 21 percent of Americans have nothing at all saved for the future, and another 10 percent have less than $5,000 tucked away, the study finds. That means about a third of Americans have only a few thousand dollars, or less, put away for their golden years.
  • This Could Be a Game-Changer for Retirement Savers

    08/02/2018 10:16:47 AM PDT · by Red Badger · 35 replies
    The Motley Fool ^ | Aug 2, 2018 at 6:08AM | Matthew Frankel (TMFMathGuy)
    Legislation that would dramatically increase an important contribution limit just cleared a major hurdle. The House of Representatives recently passed two pieces of legislation that would make significant changes to health savings accounts (HSAs), including a massive increase in the amount of tax-deferred contributions that could be made to them. These changes could not only allow Americans to get more of a tax deduction for their healthcare expenditures, but they could also help participants build their retirement nest eggs at a faster rate. Here's a rundown of what the new HSA contribution limit could be, why it matters for retirement...
  • Unlocking billions of dollars of infrastructure funding capacity

    09/28/2017 5:32:33 AM PDT · by Tolerance Sucks Rocks · 16 replies
    The Washington Times ^ | September 13, 2017 | Charles "Skip" Stitt
    The nation’s approach to managing public infrastructure is often inefficient. Best practices, such as life-cycle asset management and preventive maintenance, are rarely a priority. We can, however, unlock billions of dollars of infrastructure funding capacity now trapped in existing assets by improving how we build, operate and finance infrastructure. While experts discuss the size and urgency of our infrastructure needs, the debates focus on how to pay for new infrastructure. The Trump administration has identified public-private partnerships (P3) as a primary strategy. A majority of states and D.C. have statutes allowing P3s. Other countries have also adopted P3s as a...
  • Most millennials are hoping to retire early, but only a fraction are doing what it takes

    06/09/2017 12:07:40 PM PDT · by CorporateStepsister · 50 replies
    MSN Money ^ | June 9 2017 | Tanza Loudenback
    According to a poll from our partner, MSN, 67% of American millennials (aged 18 to 29) want to quit the working world at or before age 65. The current full retirement age, meaning the age at which Social Security benefits fully kick in, is 67 for those born in 1960 or later. MSN polls its readers, and then uses machine learning to model how a representative sample of the US would have responded, using big data, such as the Census. It's nearly as accurate as a traditional, scientific survey.
  • 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