personal finance:

Want to Save Social Security? Here’s What It’d Really Take — and Why Washington Might Never Do It

(Dan Caplinger) The legislation that created Social Security dates back 87 years. Since the program made its first payment in 1937, hundreds of millions of Americans have received benefits. Indeed, the vast majority of those receiving Social Security count on it for the majority of their retirement income. Given the importance of Social Security to …

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Want to Save Social Security? Here’s What It’d Really Take — and Why Washington Might Never Do It

(Dan Caplinger) The legislation that created Social Security dates back 87 years. Since the program made its first payment in 1937, hundreds of millions of Americans have received benefits. Indeed, the vast majority of those receiving Social Security count on it for the majority of their retirement income. Given the importance of Social Security to …

Want to Save Social Security? Here’s What It’d Really Take — and Why Washington Might Never Do It Read More »

Opinion: Reverse mortgages are mostly misunderstood — they can offer seniors a lifeline as markets sink

If they own stocks or bonds, they might not want to sell with both markets crashing simultaneously. Or they may be out of options altogether and their home is their only valuable resource left. That’s when a home equity conversion mortgage comes into play. Most people think of reverse mortgages, as they’re commonly called, as …

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Think mortgage rates are high now? Homebuyers in the 1980s were paying 19%

Think mortgage rates are high now? Connie Strait remembers when she was starting her career in real estate in the early 1980s and buyers were contending with rates three times higher. Strait recalled one couple who were actually relieved when they locked in a 30-year fixed-rate mortgage at 19% in September 1981. The couple had …

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Seniors on Medicare Just Got Some Really Good News

(Maurie Backman) It’s hardly a secret that healthcare is a huge burden for many retirees. And the cost of Medicare plays into that. While Medicare Part A, which covers hospital care, is generally free for enrollees, Part B, which covers diagnostic services and outpatient care, costs money. Part B premiums start at a base amount …

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Here’s a simple way to help teach your kids some complex financial lessons

During my late teens, my mom handed me two worn, blue passport-size books with details of my custodial investment accounts. I had no clue what to do with them, but it didn’t matter, because the accounts were empty anyway. Perhaps for the best, because I’m almost certain my assets wouldn’t have stood a chance. I …

Here’s a simple way to help teach your kids some complex financial lessons Read More »

Here’s a simple way to help teach your kids some complex financial lessons

During my late teens, my mom handed me two worn, blue passport-size books with details of my custodial investment accounts. I had no clue what to do with them, but it didn’t matter, because the accounts were empty anyway. Perhaps for the best, because I’m almost certain my assets wouldn’t have stood a chance. I …

Here’s a simple way to help teach your kids some complex financial lessons Read More »

How to Prepare Your Finances for a Layoff | Saving and Budgeting:

While the nation’s unemployment rate remains near record lows, there are also signs that the labor market may not be as strong as those numbers suggest. From Snap to Best Buy and Goldman Sachs, there have been a slew of high-profile layoffs announced in recent weeks across a range of industries. Fully half of company …

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Why Investing in Income Properties Is Not Part of My Retirement Strategy

(Maurie Backman) There’s a reason so many retirees tend to struggle financially — they don’t set themselves up with enough income streams for their senior years. Many seniors end up turning to Social Security to provide the bulk of their income (or, in some cases, all of their income). But those benefits generally won’t set …

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