Only high-income households have managed to build significant savings, and the Center for Retirement Research at Boston College says 52 percent of today's working-age households face the shock of declining living standards in retirement. "If you have a dollar to spend on retirement security, it's much better to spend it on Social Security than by spreading...» Read More
Seniors prepared to cut back on everything from food to charitable donations to whiskey as word spread Monday that they will have to wait until at least 2012 to see their Social Security checks increase.
Two new members have been installed on the Federal Reserve, which has enormous power over Americans' pocketbooks.
The co-chairs of President Obama's special commission on cutting the deficit say Social Security is high on the list, so why isn't it front and center in Congressional races?
A global study of wealthy individuals conducted by Barclay's pokes holes in the notion that an individual should stop working at a pre-defined age as it is more of an illusion than a reality. The study found that increasingly, the wealthy are rejecting the idea of a traditional retirement—golden years filled with leisure—and continuing to work long past their early 60s.
Why renown trader Mark Fisher, founder and CEO of MBF Asset Management, thinks now is the time to get into these asset classes.
The budget problems that come from federal spending and entitlements, such as Social Security, pale in comparison with the challenges of containing health care costs and maintaining Medicare at the level of treatment Americans expect, Robert Reich, the former Labor Secretary, told CNBC Thursday.
Beyond the audible gasp over an incomprehensible $6.6 trillion figure (the retirement shortfall), there is a major ripple effect for the US and global economies.
A new study by Boston College's Center for Retirement Research says Americans are $6.6 trillion short of what they need to retire.
At the Cooper Tire plant in Findlay, Ohio, Jack Hartley, who is 58, works a 12-hour shift assembling tires: pulling piles of rubber and lining over a drum, cutting the material with a hot knife, lifting the half-finished tire, which weighs 10 to 20 pounds, and throwing it onto a rack.
Investors are not playing the stock market game with confidence like they used to, mainly because the game of making money has gotten tougher and more volatile since the financial crisis. Retail investors are buying fewer stocks. Instead, they're moving into safer investments, like cash and bonds.
The debate about class struggle is getting old, but so is the largest demographic in the country. Somebody will have to support those who spent the last 30 years in control of an economy entrusted to them by their depression era parents, one that boasted a balanced budget and an aversion to immediate gratification.
President Obama is playing “Watch the Birdie” with Americans over the age of 50, diverting their attention with handouts and scare tactics to hide in plain sight the enormous damage his policies are doing to the retirement safety net.
It probably makes sense to convert your old 401 (k) to a Roth IRA if you think you're going to be in a higher tax bracket later and you have the money to pay the taxes you'll incur with the conversion.
There’s a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide.
The annual checkup of the government's big benefit programs for the elderly showed that the administration's sweeping health care overhaul will extend the life of the Medicare hospital insurance fund by 12 years.
A Government Accountability Office report to be released Wednesday will reveal that thousands of federal and private-sector employees nationwide may be committing fraud by collecting disability benefits from the federal government when they’re perfectly healthy and working full-time jobs.
Lawmakers in Maine have found an unusual tool for tackling their state’s pension woes: Social Security. The NYT reports.
The Securities and Exchange Commission has introduced new rules to help investors figure out how target-date funds in their 401(k) and other retirement accounts are supposed to hit their target.
Americans are living and working longer, and Alice Rivlin, a member of President Obama’s National Commission on Fiscal Responsibility and Reform, told CNBC it is time the Social Security retirement age reflects this fact of life.
David Faber talked with Senior Portfolio Manager Frank Troise about what Boomers need to do now, after being crushed by the financial crisis.