mbeals

12/4/2014 - The 401(k) Killed Off Pensions (Bloomberg)

“There was absolutely no discussion in ’78 that if you do this, the world is going to change,” recalls Carter-era Treasury official Daniel Halperin of the 869-word provision in the tax code that created a $4.4 trillion pool of retirement savings. According to the Investment Company Institute, 18 percent of all retirement assets are held in… Read more 12/4/2014 - The 401(k) Killed Off Pensions (Bloomberg)

11/12/2014 - Troubled Brokers Cluster, Often Among Elderly (MSN Money)

A Wall Street Journal investigation, analyzing the records of about 550,000 stockbrokers, identified 16 U.S. hot spots like this one where troubled brokers tend to concentrate. Parts of New York’s Long Island and South Florida, long notorious for “boiler room” operators, made the list. But so did areas around Detroit, Las Vegas and California cities… Read more 11/12/2014 - Troubled Brokers Cluster, Often Among Elderly (MSN Money)

11/11/2014 - Why you’re often better off saving for retirement than buying (Washington Post)

U.S. home prices crashed 43 percent between 2005 and 2012, yet polls find that the vast majority of Americans still consider home ownership to be a good idea and the best way for average people to build wealth. But is it? For more than 40 million households—or half of the nation’s current homeowners—the answer is… Read more 11/11/2014 - Why you’re often better off saving for retirement than buying (Washington Post)

11/10/2014 - Shifting Retirement Security Paradigms: When “Save Like Hell and Hope You Don’t Live Too Long” Isn’t Enough (Brookings)

The Retirement Security Project at Brookings recently released a new research paper by Katharine G. Abraham of the University of Maryland and National Bureau for Economic Research and Benjamin H. Harris of Brookings. “Better Financial Security in Retirement? Realizing the Promise of Longevity Annuities” discusses the potential for longevity annuities to impact retirement security, examines… Read more 11/10/2014 - Shifting Retirement Security Paradigms: When “Save Like Hell and Hope You Don’t Live Too Long” Isn’t Enough (Brookings)

11/10/2014 - Frauds That Prey on the Vulnerable (NY Times)

Barely a week passes in this house without one of us picking up the phone to an automated call offering my parents a free medical alert system. Of course, it is not free, but rather a well-known fraud trying to get their credit card information either for a donation, shipping or some additional emergency service.… Read more 11/10/2014 - Frauds That Prey on the Vulnerable (NY Times)

10/29/2014 - The Five Scariest Retirement Planning Pitfalls (Forbes)

Okay, it’s pit and the pendulum time. A big, nasty financial blade is swinging over you if fail to do some easy things to save for your golden years. Fortunately, you needn’t fall into the pit of regret. Every one of the items I note is easily surmounted. Read the full article at Forbes.

10/28/2014 - 7 Surprise Retirement Expenses (U.S. News & World Report)

What’s the scariest thing about retirement? The things we don’t know. There are bound to be some surprises in retirement. But here are seven retirement unknowns that you can prepare for in advance. Read the full article at U.S. News & World Report.

10/27/2014 - Living Your True Wealth (NY Times)

If this question immediately makes you uncomfortable, you’re not alone. Recently, I tried an experiment. I just started asking people how much they make or how much they’re worth. Not surprisingly, the responses were similar. We’re not comfortable talking about money. We’ve been taught that it’s rude. Even more important, we may be afraid of… Read more 10/27/2014 - Living Your True Wealth (NY Times)

10/27/2014 - Phone scams sweep Bay Area, aided by prepaid debit cards (SF Gate)

Ernie Cervantes answered the phone at his doggy day care in San Francisco’s Marina district and was given alarming news: PG&E was about to cut power to the Grateful Dog over unpaid bills. Read the full article at the SF Gate.

10/23/2014 -IRS Announces 2015 Retirement Plan Contribution Limits For 401(k)s And More (Forbes)

The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2015, and this year there’s extra room for savings for wage and salary types and the self-employed. If you have a 401(k), a SEP-IRA, or a SIMPLE, pay attention and if you can swing it, bump up your contributions to the new max.… Read more 10/23/2014 -IRS Announces 2015 Retirement Plan Contribution Limits For 401(k)s And More (Forbes)