WASHINGTON (Reuters) – Usually, when people talk about someone “going through a stage” they are talking about a 2-year-old or a teen. But there’s another age at which people go through a key transitional period, also marked by angst and rebellion: Call it pre-retirement.
It sets in by the time workers hit their late 50s, even though they are told they should work for another decade or so to maximize their retirement security. But it hits for real about five years before an expected retirement date. It’s the period that Prudential Financial Inc calls “the red zone” and another insurance company, Allianz Life Insurance Company of North America, calls “the transitional phase.”
WASHINGTON, April 11 (Reuters) – By various accounts, Apple
Inc. is now bigger than Spain, Portugal and Greece
(combined), or the entire retail sector of the U.S. economy, or
13 Warren Buffetts. What are we to think about that?
First, a disclosure. In my two-person household are three
Apple laptops, two Apple desktops, two iPhones, one iPod, two
healthy iTunes accounts, a fair amount of iPad lust, and 200
shares of Apple stock, purchased by my husband roughly two
decades ago, and making up a large share of his retirement
WASHINGTON, April 4 (Reuters) – The generation that invented
“helicopter parenting” is moving into its grandparenting years
with a wad of cash and strong ideas about how their precious
posterity should live, so get ready for Granny and Grandpa Baby
Boomer to shake things up.
Already, today’s first-time grandparents are the youngest
ever, with an average age of 47, according to an AARP survey.
Boomers have the highest median household income of any age
group, according to the U.S. Census; by some accounts they
control as much as 70 percent of American net worth and stand to
inherit another $8 trillion or more.
WASHINGTON (Reuters) – Over the next week, most colleges will give high school seniors the good news — who got in where — and the bad news — how much it will cost.
Then it will be crunch time for a full month, as parents try to make the numbers work so their kids can give colleges their final answers by May 1.
WASHINGTON, March 28 (Reuters) – Over the next week, most
colleges will give high school seniors the good news — who got
in where — and the bad news — how much it will cost.
Then it will be crunch time for a full month, as parents try
to make the numbers work so their kids can give colleges their
final answers by May 1.
WASHINGTON (Reuters) – The Treasury will unveil a new savings bonds website on Tuesday in an attempt to win consumers over to traditional government-issued, small-denomination bonds, despite their low interest rates.
Currently, Series EE bonds are paying a fixed rate of 0.60 percent. I bonds — which have variable rates including an inflation component that tracks the Consumer Price Index — are currently paying 3.06 percent interest, but that rate changes every six months and will next be adjusted on May 1, 2012.
WASHINGTON, March 21 (Reuters) – Reverse mortgages used to
be the last recourse of the little old lady: A way for her to
get money for household help and stay in her home until she
But now, baby boomers are sniffing around these backwards
loans, looking for a way to pay off other debts and provide
bridge funding for the early years of retirement. In a reverse
mortgage, a lender pays money to a homeowner, but the homeowner
has no monthly payments. The loan, plus interest, is repaid when
the home is sold.
WASHINGTON, March 14 (Reuters) – When the consumer
price index is released later this week, it’s likely to look
scary because of the run up in gasoline prices that hit at the
end of February.
Economists polled by Reuters expect the CPI to be up 0.4
percent in February, double the January rate, mainly on oil
price increases that were 11 percent in February. In both
January and February, the index would have gone up half as much
if food and energy prices were excluded.
WASHINGTON (Reuters) – Workers are saving less, worrying more and may be unrealistic about their ability to work as long as they think necessary to afford retirement, according to a major national survey released on Tuesday.
The 2012 Retirement Confidence Survey, published by Employee Benefits Research Institute, found workers in January as gloomy as they have ever been about their retirement prospects. The survey, which measures workers’ and retirees’ views of the future rather than actual savings data, has been conducted annually for 22 years and is largely underwritten by financial services firms.
WASHINGTON (Reuters) – Three years after a market rout sent investors scurrying in every direction but Wall Street, some financial advisers are tentatively starting to put their clients back into stocks, according to recent reports.
“Gun-shy advisers tiptoe back into equities,” read one of these stories, here at Reuters (link.reuters.com/nag96s).