NEW YORK, Feb 26- When Wanda Simpson reached retirement a couple of years ago, the Cleveland mom had an unwelcome companion: Around $25,000 in debt. New data reveal that Wanda Simpson has company- and plenty of it. Among families headed by those 55 or older, 65.4 percent are still carrying debt loads, according to the Washington, D.C.- based Employee Benefit Research...» Read More
You think he ran the biggest Ponzi scam? Try Social Security.
In the all the coverage of alleged con-man Bernie Madoff's $50 billion Ponzi scheme, I keep hearing that this could be the biggest swindle of its kind in history. That's just plain wrong.
Control what you can control. Everything else is a crap shoot.
Whether you should contribute to a 403(b) or Roth IRA, advice for a young investor thinking about retirement and more from Bill Losey.
Plus, should we turn Social Security into a sovereign fund?
Retirement expert Bill Losey advises an older couple with more debt than savings on how to get ahead -- even late in life.
Warren Buffett may make some brief appearances in a new documentary film that paints a bleak picture of America's financial future, but he didn't quite follow the script in a live discussion beamed to hundreds of movie theaters for the film's premiere.
As I've said, CNBC is airing a special tomorrow night, “Boomer Angst,” which will air at 9 pm and midnight. There is plenty of angst out there. This week, a new coalition was launched to encourage the American public to save more.
CNBC has a special out tomorrow night titled "Boomer Angst" that will air at 9 pm EST and midnight. Watch it--because you need to know that baby boomers are not even close to having enough for their retirement. I've put up a number of facts on my blog today about this crisis.--here's a few more.
This Friday at 9 pm EST and midnight, CNBC will air a special, "Boomer Angst," on the difficulties the baby boomers are facing in their retirement. We did a similar special a year and a half ago, and the facts have not improved since then.
It's been easy over the last few months to feel a bit sorry for Hank Paulson. He left Goldman Sachs, reluctantly, to lead President Bush's second-term Treasury in the belief that his skills might help solve two thorny problems: deteriorating political sentiment toward China's rising economic might, and the long-term insolvency of the U.S. entitlement programs as the Baby Boom generation heads toward retirement.
Despite the recent market volatility and concerns over the housing market, Americans are still optimistic about the future, according to CNBC’s exclusive Wealth in America poll. Senior economics reporter Steve Liesman appeared on "Power Lunch," with the first look at the results.
Pollsters often try to make their jobs simpler, by predicting elections via demographic groups. So who does that abstract cross-section called "Wall Street" want in the White House in 2008? The answers may not be so cut-and-dried, says John Harwood, CNBC's chief Washington correspondent.
Corporate profits are up -- and corporate pensions appear solid. But "Street Signs" guest Alison Borland says more companies intend to terminate their pension plans this year. A senior benefits consultant for Hewitt Associates, Borland told CNBC's Erin Burnett about the bad news -- but why it may be less painful than some might expect.
Few would argue with the White House’s Web site, when it calls the U.S. Social Security system “one of the great moral successes of the 20th century.” But much has changed since President Franklin D. Roosevelt founded the system in 1935 – including a historically huge graying population. And that’s where the debate started, on "Morning Call."
President Bush will give the State of The Union speech next Tuesday night to both Houses of Congress--and the American people--and he does at at time when he has one of the lowest approval ratings of his presidency. So--what can he say at such a time? CNBC's John Harwood appeared on "Squawk Box" to give his preview of the speech--and he was joined in commentary with former GE CEO Jack Welch...
This afternoon--Congress is mulling over how to proceed, after Fed Chairman Ben Bernanke warned that the U.S. economy could be gravely hurt if Social Security and Medicare aren’t revamped. In his testimony before the Senate Budget Committee, Bernanke also said that economic growth alone is unlikely to solve the nation's impending fiscal problems.