Are You Saving Enough For Retirement?
Saving for retirement is no easy task, but a new study says you don’t need to be a Powerball winner to put away enough cash for old age. According to the study by Fidelity Investments, 45 percent of those surveyed in 2015 were on track to cover essential expenses during their retirement, up from 38 percent in 2013. Although that’s still less than half the population, the percentage is heading in the right direction. One reason: People...
Tough Choices as Elder Care Cost Soars
New York — Doris Ranzman had followed the expert advice, planning ahead in case she wound up unable to care for herself one day. But when a nursing-home bill tops $14,000 a month, the best-laid plans get tossed aside. Even with insurance and her Social Security check, Ranzman still had to come up with around $4,000 every month to cover her care in the Amsterdam Nursing Home in Manhattan. “An awful situation,” said her daughter, Sharon...
Many Americans One Crisis Away From Ruin
With people less worried these days about losing their jobs, Americans are feeling much better about their finances. Yet after the bills are paid, many people struggle to keep extra cash in the bank. Roughly one in four, or 29 percent, of Americans don’t have money set aside to cover emergencies, up from 26 percent last year, according to an annual survey from Bankrate.com. The findings pointed to the lowest saving rates seen in five...
