MIDDLETOWN, Pa.— A truck driver who purchased a Mega Millions ticket at a truck stop claimed his $92 million prize Wednesday at Pennsylvania Lottery headquarters. Steven Peloquin, 52, of Mechanicsville, Virginia, turned in the sole winning ticket from a Mega Millions drawing last week and chose the cash value payout rather than a $153 million annuity, the...» Read More
April 29- Life and mortgage insurer Genworth Financial Inc is considering strategic options, including going private or selling its global life and annuity insurance unit, Chief Executive Tom McInerney said. The company's shares rose 6.5 percent to $8.51 in early trading on Wednesday. "We're in the early stages of talking to players who might be interested in...
April 2- U.S. insurer Genworth Financial Inc is seeking buyers for a life and annuity unit, Bloomberg reported, citing people familiar with the matter. Genworth has been carrying out a restructuring plan after reporting losses of more than $1.5 billion in the past two quarters due to hefty charges to cover losses in its long-term care business.
With the median account balance under $19,000, 401(k) plans are failing as a safety net. Here's what happened.
For years, Americans found a lot to dislike about annuities, calling them complicated and expensive. Though some experts say not that much has changed about the insurance product, fundamental changes in the average American's financial outlook have given new life to annuities.
After suspending further contributions, Prudential Annuities will likely be paying out far less than policyholders had expected.
With more people worried about the finances of retirement, the concept of a guaranteed income stream for life is gaining in popularity.
The government wants to make it easier for workers to convert part of their 401(k) savings into an annuity that would pay guaranteed income checks for life — no matter the ups and downs in the markets.
Some people who are unprepared for retirement respond with a strategy known as “Hurry-Up Offense” retirement. This entails scrambling like mad at the 11th hour to find something to live on. It’s less than ideal, but sometimes a well-planned nest egg simply doesn’t exist.
Ameriprise Financial examined where consumers are most confident about retirement. Many expressed a nagging sense that they hadn’t saved enough money to keep them afloat. They’re right to worry, but they still have time for corrections.
Withdrawing money from a retirement account can carry a high price. Besides jeopardizing long-term savings, withdrawals can incur a 10 percent penalty. Still, if you’re in a financial pinch there are some options for cracking your nest egg that are better than others.
The big events of our lives often carry big price tags, and even though they're usually highly anticipated, it's difficult to be fully prepared — emotionally and financially. Here's some tips.Handling life changes takes prudence and planning along with perseverance.
After seeing old age or illness deplete their parents life savings, more baby boomer are signing up for long-term care coverage.
Outlining what investors should know about annuities if they are looking for guaranteed income for life, with Jim Schlager, Moss Adams Wealth Advisors.