Category: Financial Landing 2015

3/26/2015 - Payday Loans - And Endless Cycles of Debt - Targeted by Federal Watchdog (NPR)

For millions of cash-strapped consumers, short-term loans offer the means to cover purchases or pressing needs. But these deals, typically called payday loans, also pack triple-digit interest rates — and critics say that borrowers often end up trapped in a cycle of high-cost debt as a result. Now, the Consumer Financial Protection Bureau (CFPB) is… Read more 3/26/2015 - Payday Loans - And Endless Cycles of Debt - Targeted by Federal Watchdog (NPR)

3/24/2015 - 4 ways to get Millennials to save for retirement (CNN Money)

 A survey of Millennials earlier this month by the Principal Group found that fewer than a third contribute at least 10% to a 401(k) or a similar plan. Meanwhile, a 2014 State Street study noted that Millennials were holding upwards of 40% of their assets in cash, raising questions about how effectively young people are investing whatever amount they… Read more 3/24/2015 - 4 ways to get Millennials to save for retirement (CNN Money)

3/23/2015 - The Growing Divide Between the Retirement Elite and Everybody Else (Time Magazine)

Americans are on track to replace 60% of income, but only one in five pre-retirees report good health. That’s likely to prove costly. There’s a growing retirement savings gap between workers with 401(k)s and those without. Overall the typical American worker is on track to replace about 58% of current pay through savings at retirement.… Read more 3/23/2015 - The Growing Divide Between the Retirement Elite and Everybody Else (Time Magazine)

3/23/2015 - Can achieving retirement security be easier than we think? (The Washington Post)

With traditional pensions on the wane, wages for typical workers flat-lining and many people living longer, it is no secret that Americans face an ever-increasing challenge to achieve financial security in retirement. Most are not meeting the test. The Center for Retirement Research at Boston College estimates that 53 percent of households are at risk… Read more 3/23/2015 - Can achieving retirement security be easier than we think? (The Washington Post)

3/21/2015 - Are you financially ready for retirement (USA Today)?

Researchers and others say only half of households in the USA are financially prepared for retirement. The other half, not so much. Other research, however, shows that only one in 10 households — if you factor in less spending after your children move out and falling expenses in retirement — are at risk of not… Read more 3/21/2015 - Are you financially ready for retirement (USA Today)?

3/20/2015 - Japan's Recovery is Complicated by a Decline in Household Savings (The New York Times)

It is an increasingly common refrain in Japan — and one that complicates the government’s efforts to revitalize the country’s economy. The country’s savings rate, long one of the highest in the world, is now below zero. In short, Japan’s citizens are spending more than they earn. By comparison, the rate in the United States, where… Read more 3/20/2015 - Japan's Recovery is Complicated by a Decline in Household Savings (The New York Times)

3/19/2015 - Working in retirement: Fantasy or reality? (CBS Moneywatch)

To work or not to work? That is the retirement planning question. Let’s take a closer look at this modern-day riff on the famous line in Shakespeare’s “Hamlet,” where Prince Hamlet laments about life’s unfairness but reflects that the alternative (not being alive) could be worse. Lately, many analysts and journalists have written about the necessity of… Read more 3/19/2015 - Working in retirement: Fantasy or reality? (CBS Moneywatch)

3/19/2015 - What you need to know about the high cost of retirement (MarketWatch)

As you enter retirement, spending habits tend to change drastically. Most couples spend less on dry-cleaning, commuting and clothing, while outlays for health insurance, — which likely falls squarely on family rather than an employer — travel and leisure activities tend to increase. Food and energy consumption tend to remain relatively steady. While this might… Read more 3/19/2015 - What you need to know about the high cost of retirement (MarketWatch)

3/19/2015 - More Americans Opt for Risky Long-Term Car Loans (NPR)

Six-year car loans used to be in the minority. They’re now the norm and loans of seven or eight years are even becoming popular. New car sales in the U.S. are booming and longer car loans are playing a role. Nearly a third of new loans are now 74 months or longer. But some worry… Read more 3/19/2015 - More Americans Opt for Risky Long-Term Car Loans (NPR)

3/18/2015 - Want to be ready for retirement? Lower expectations (NBC News)

Whether most Americans will have enough saved to retire comfortably has become a matter of great debate. But some may be in better shape than they think. Most predictions aren’t in consumers’ favor. In a recent Legg Mason study, only 40 percent of the 458 investors surveyed said they are “very confident” in their ability… Read more 3/18/2015 - Want to be ready for retirement? Lower expectations (NBC News)