The median retirement age for an American woman is 62. The Federal Reserve says so in its most recent Survey of Household Economics and Decisionmaking (2017). Sixty-two, of course, is the age when seniors first become eligible for Social Security retirement benefits. This factoid seems to convey a message: a fair amount of American women are retiring and claiming Social Security as soon as they can.1
What if more women worked into their mid-sixties? Could that benefit them, financially? While health issues and caregiving demands sometimes force women to retire early, it appears many women are willing to stay on the job longer. Fifty-three percent of the women surveyed in a new Transamerica Center for Retirement Studies […]
No insurance policy will protect you from everything. Even the most comprehensive umbrella liability policy has its shortcomings. A good auto, homeowner, or renter policy will insure you against what the carrier believes to be common threats. There are other risks, however, that you might need to address.
Earthquakes. A typical homeowners policy offers no earthquake protection, and that presents a serious coverage gap in certain states. Just 10% of California households have earthquake insurance, for example. (On the bright side, a record number of Californians bought these policies in 2017.)1
Floods. In some regions, houses may be more at risk for flood damage than their owners believe. Last year, tens of thousands of Southeast Texas homeowners discovered […]
When you talk with traditional financial planners, this will almost always be the very first question out of their mouths.
It seems like a fair question.
But is it really the right question?
I don’t think it is. In fact, the question itself raises a number of other questions we need to think about.
First, should you be content simply meeting your needs?
And more importantly, how do you even know what your needs will be 20, 30, or even 40 years down the road?
How do you even answer the question? Basically, all you can do is pop off some numbers that sound good in your head at the moment. And based on these random figures, we formulate an entire financial […]
Uncle Sam is feeling the squeeze.
The most recent U.S. Treasury Department monthly statement revealed a troubling trend.
Revenue is falling.
In the report for the period ending Feb. 28, total federal revenues came in at $3.275 trillion. This was 1.1 percent lower than the $3.31 trillion reported for the same period one year ago. It represented the biggest drop since 2008 and the third consecutive month of decline.
ZeroHedge explained why this is particularly significant.
“As the chart below shows, every time since at least 1970 when government receipts have turned negative on an annual basis, the U.S. was on the cusp of, or already in, a recession. Indicatively, the last time government receipts turned negative was in July […]
You should never trust the official spin coming out of the government.
Case in point – unemployment numbers.
I’ve been pointing out for months that the official numbers and the rosy mainstream spin hides some fundamental problems in the U.S. jobs market. Despite the low unemployment number and relatively consistent jobs growth, there are large numbers of Americans who have simply stopped looking for a job altogether, and many of the newly created jobs are part-time.
The Federal Reserve pulled the trigger on another interest rate hike on March 15, despite economic data that suggests rather strange timing.
The fed bumped the benchmark rate .25 points to a range between .75 and 1 percent. It was just the third boost in the rate since the 2008 crash.
The Fed has held the rate artificially low for years, desperately trying to jumpstart a tepid recovery.
Yellen has consistently claimed the central bank is “data dependant.” In other words, she’s making decisions based on the state of the economy as revealed by the data. After the March rate hike, she continued to spin the tale of a strong economy, albeit with a somewhat cautious tone. Yellen said the economy was growing at a “moderate pace,” employers […]