This year, for the first time, the Social Security Administration paid out more to retirees than it received in Social Security contributions from working Americans. That’s really bad news; and, as journalist David Shribman recently observed, no one running for President is even talking about this problem. Some pundits think the Baby Boomers brought this …
MoneyTips Consider the stereotype of stodgy old codgers, set in their ways. Unable or unwilling to accept changes and handle risk, these overly cautious folks allow opportunities to pass them by. Could this stereotype fit baby boomers in their approach to retirement? Perhaps, given that a new survey from Legg Mason suggests that boomers are …
Question: Dear Steve, Stayed home with kids for 9 years, and just went back to work. We have had medical issues and just not made enough money. We have racked up some credit card bills $50,000 and $40k in student loans and our house is 250K, and we have two cars. We have tried paying …
Question: Dear Steve, My husband and I are both in our 70’s. He’s 79 soon to be 80 and I’m 76 soon to be 77. We have gotten ourselves into a lot of debt. ($50,000) We started our retirement with a total of $400,000. Through bad advice and my husband not paying any attention what …
“Dear Steve, Self employed – earned about $80K in 2010 (up from 2009); 58 years old. $10K in savings; no retirement plan other than to work ’till the end. Home owner – mortgage etc. about $2K/mo; no equity, but not underwater either – just about even. Unsecured debt is about $50K. Not behind yet in …