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Linda Writes In And Asks “Should We Sell Our House Now Or Hold Out For More?”

Question: Dear Steve, Last year we put our house, which is paid for, on the market, expecting it to sell quickly and purchase another house with a mortgage. Our realtors lower the price by $75k to sell it, but we feel that won’t give enough to invest for our retirement. Would we be better off …

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1-in-3 American Workers Have Stopped Saving for Retirement

For many Americans, saving for retirement is a luxury they simply cannot afford right now. Although investing for the future is essential, COVID-19 has left millions across the U.S. concerned more about the present as they struggle to cope with record unemployment and unprecedented economic uncertainty. In the second annual FinanceBuzz retirement survey, we look …

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Survey: US retirement worries grow amid pandemic

Americans have always struggled to save. Many live paycheck to paycheck, on the very edge of financial security. Historically, that savings shortfall has been all the more dramatic when it comes to saving for retirement. But with the coronavirus pandemic and the havoc it has wrought on the economy, that retirement savings gap may worsen. Beyond …

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How to Catch Up on Retirement Savings in Your 50s

Data is increasingly showing that many Americans, even those in their 50s, have saved little for their retirement. According to research by the nonprofit Economic Policy Institute, among households headed by adults ages 50 to 55, the median retirement savings is only $8,000, according to the Economic Policy Institute. Lack of retirement funds is all …

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Finance Experts Share Their Top Money Lessons of the Last Decade

When the Great Recession hit, it hit hard. Americans experienced job loss, foreclosures, a sharp rise in student loan defaults and high consumer debt. The recession also taught us plenty of important lessons. We asked 8 personal finance experts on their main financial takeaways on the past decade. Here’s what they had to say:  Image Credit: Nattakorn …

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You Might Be in Denial But Retirement is Going to Really, Really Suck for Many

Contributing author Richard Fossey recently wrote about how badly retirement is going to treat Baby Boomers. His post The Baby Boomers are Toast: Massive Suffering is Right Around the Corner says, “And many of my contemporaries are frightened. One-third of senior Americans live entirely on Social Security, and the average payout is only $1,220 a …

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I’m Retired and Running Out of Money Quickly. I’m Scared, Alone and Afraid.

Question: Dear Steve, I am 72 years old living on S.S. $1000, and Medicare, live alone, rent $600), pay utilities-electric- car insurance-two credit cards ($7000), package deal on TV, landline, Internet $96 (thinking about going to antenna for TV since I only get limited basic now?) Had breast cancer diagnoses in 2017. Running out of …

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