“After hitting a record of nearly 20 million in 1979, the number of American factory workers has plunged during each of the last five recessions and each time has never recovered. Today, 12.3 million people are employed in U.S. factories, a loss of nearly eight million jobs. Forecasters in The Wall Street Journal’s monthly survey…
Assessing the "Obama Economy"
Wall Street Journal Marketwatch columnist Brett Arends assessed the progress of U.S. economy under the Obama administration by comparing data from the third quarter of 2008 — just before Obama’s election — with the third quarter of 2016.The Obama Economy Third-quarter 2008 Third-quarter 2016 Verdict Gross domestic product (2009 dollars) $14.892 trillion $16.713 trillion Up…
Cash Back Credit Cards
Source: Financial Planning for Women
Reverse Mortgage Lenders Fined for Deceptive Advertising
“American Advisors Group, Reverse Mortgage Solutions and Aegean Financial are the latest names to face the wrath of the Consumer Financial Protection Bureau due to deceptive advertisements in reverse mortgage lending. Collectively, the bureau ordered the three reverse mortgage lenders to pay a civil penalty of $790,000.”A reverse mortgage allows homeowners 62 and older to…
Student Loan Repayment: 12 Rules
Kim Blanton provides excellent advice on the Squared Away Blog. 1. If you earn enough to make your payments, start paying. 2. Open your student loan mail. 3. Call your loan servicing company. But do not call without doing some homework first. 4. The best option for lower-income former students with high debt…
Long Term Care Insurance Industry Problems
I’ve advocated that most people would be better off saving the amount of the premium and investing it for retirement expenses rather than buy LTC insurance. The Wall Street Journal reports (12/4/2016) widespread problems in the industry. “Collapse of Long-Term Care Insurer Reflects Deep Industry Woes: Actuarial miscalculations on long-term-care policies by two units of…
Many americans retire too early
Source: Financial Planning for Women
How to get 88 percent more from Social Security
Benefits of delaying Social Security retirement by Kelli B. Grant: “Someone who retires and begins claiming Social Security at age 70 would receive a benefit that’s 76 percent higher than the one he or she would receive at age 62. Factor in late-career earnings replacing a zero-income year and the increase becomes as much as…
Wealthy likely to get huge tax cut under Trump propsal
As reported December 2, 2016 by the conservative Wall Street Journal, despite promises of big tax cuts, the middle class is likely to pay higher taxes under Trump while the wealthy enjoy big tax cuts under trump’s proposed tax plan. Bottom line: big increase in the federal deficit under this Republican administration. Trump;s pick for…
Strategies to increase your retirement savings
Emily Brandon shares suggestions for improving your retirement security. 1. Save your raise. 2. Invest your windfalls. 3. Qualify for tax breaks. 4. Get a 401(k) match. 5. Create an emergency fund. 6. Save $10 more. 7. Consolidate your accounts. 8. Redirect debt payments into savings. 9. Save side job income. 10. Ramp up your…