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Senior Citizens Expand Their Social Network Online
Tweet Share on Facebook August 31, 2010 Comment (5)Baby boomers and seniors are the fastest growing group of social networking website users. Older Americans are increasingly using the Internet to reconnect with people from their past and to seek information and support with medical issues, according to a new Pew Research Center report.
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How Financial Advisers Are Shifting Investments
Tweet Share on Facebook August 27, 2010 CommentOver a quarter of financial advisers plan to invest more in U.S. and emerging market large cap stocks in the next six months. Some financial advisers also intend to decrease their fixed income and cash investments, according to a Charles Schwab and Koski Research survey of 1,199 investment advisers whose assets are administered by Schwab. Here is how the financial advisers plan to shift investments for the remainder of 2010.
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The 10 Biggest Failed Pension Plans
Tweet Share on Facebook August 23, 2010 Comment (7)Pension plans abandoned by just ten companies make up 63 percent of all claims paid out by the Pension Benefit Guaranty Corp., the government agency that insures private sector pensions. Just two industries, air transportation (33 percent) and metals (27 percent), make up the majority of pension failures, according to PBGC data released last week. But a new type of firm jumped to number two this year.
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More Workers Take 401(k) Early Withdrawals
Tweet Share on Facebook August 20, 2010 Comment (1)Workers are increasingly tapping their retirement accounts early to prevent foreclosure or eviction, pay for college, and purchase a home. The percentage of 401(k) participants taking loans and hardship withdrawals has jumped significantly over the past year.
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Continuing to Work Past Age 100
Tweet Share on Facebook August 18, 2010 Comment (3)Those who haven’t saved enough for retirement may have to work past age 65. Some people continue going to the office each day for decades past traditional retirement age.
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Internships for Older Workers
Tweet Share on Facebook August 17, 2010 Comment (4)Internships are no longer just for college students and recent graduates. Experienced workers are increasingly applying for internships to network at a desirable company or change careers. Some 10 percent of employers have received internship applications from workers age 50 or older, according to a recent CareerBuilder and Harris Interactive online survey of 2,534 private-sector hiring managers. And nearly a quarter (23 percent) of employers report interest in internships from workers with more than ten years of experience.
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Fewer Workers Able to Retire at Age 65
Tweet Share on Facebook August 13, 2010 Comment (2)Retirement at age 65 may be a thing of the past. Americans are now delaying retirement until older ages than previous generations.
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Survey: Workers Concerned About Social Security’s Future
Tweet Share on Facebook August 11, 2010 Comment (1)The Social Security program enjoys strong public support on its 75th birthday, according to a new AARP and GfK Roper telephone survey released today. Most adults say Social Security is an important government program (92 percent), which provides them with financial security that they would not be able to get elsewhere (72 percent). And about three quarters (76 percent) of workers plan to rely on Social Security as a source of income in retirement.
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7 Ways the Automatic IRA Would Impact Retirement Savers
Tweet Share on Facebook August 9, 2010 Comment (5)Senator Jeff Bingaman, a New Mexico democrat, introduced the Automatic IRA Act of 2010 last week. The new legislation would require all firms with 10 or more employees that don’t already offer a retirement plan to automatically enroll workers in an IRA. Workers who don’t wish to participate would need to take action to opt out or change the default contribution amount and investments. Here’s a look at how this bill, if passed, would affect you.
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Tapping Retirement Accounts to Cope with Unemployment
Tweet Share on Facebook August 6, 2010 Comment (6)About 9.5 percent of the American workforce was unemployed in July. Many of these workers are turning to their retirement accounts to make ends meet. Over half (55 percent) of adults between ages 18 and 64 who were jobless for 6 months or more at some point during the recession had to withdraw money from their retirement savings to pay their bills, according to a recent Pew Research Center survey.
