Retirement finances

Everything you need to know about retirement finances. Retirement investing, budgeting and spending.

RETIREMENT FINANCES (Note: Lou was a professor of economics for 30 years. His analysis is ... Six years after retirement, we're still in good health, physically ...

Retirement Finances and Investing Solutions. Review Retirement Advice, Services, and Planning Tools. Retirement services include investments, insurance, ...

retirement finances - Rising life spans make it serious for people to plan for 25 plus years of retirement, inflation continues to erode savings and ...

The whole retirement scene has changed and many American workers find it a mystery. ... as long as possible benefits your retirement finances in several ways. ...

Men are more likely than women to want to work past 65, but women are more likely than men to worry ... Women worry more about retirement finances ...

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I'm planning on taking early retirement (age 59 1/2) in two years. ... Subject: Re: Retirement Finances. From: financeeco-ga on 21 Mar 2005 21:56 PST ...

Kyle and Laura have been married 3 years. They bought a house costing $212,000 using a $190,000 mortgage. They have no other debts. Kyle earns $42,000 per year and Laura $41,000. Each has a retirement plan valued at $10,000. They recently received a mail offer from their mortgage lender for a mortgage life insurance policy of $190,000. Their only life insurance currently is a $20,000 cash value survivorship joint life policy. They each would like to provide the other with support for 5 years if one of them should die. Assuming $10,000 in final expenses, calculate the amount of life insurance they need using the needs-based approach. Assume a 4% interest rate.

HW #4 1)You are offered the opportunity to put some money away for retirement. You will receive five annual payments of $25,000. How much would you be willing to invest today if you desire an interest rate of 12%? 2)You are prepared to make monthly payment of $225, beginning at the end of this month, into an account that pays 9 percent interest compounded monthly. What is the effective annual interest rate? How many payments will you have made when your account balance reaches $20,000? 3)You have recently finished your MBA at the Iona College. Naturally, you are going to purchase a new BMW. The car costs about $30,000. The bank quotes an interest rate of 15 percent APR for a 72-month loan with a 10 percent down payment. What will your monthly payment be? What will the loan balance be when you sell the car two years later from now?

http://finance.yahoo.com/news/Most-Americans-still-cnnm-3163666925.html?x=0&sec=topStories&pos=6&asset=&ccode= I don't get it, just through taking personal responsibility for my career and saving the max possible in my 401K I am 53 and have over $700K saved (not counting the $200K+ I have in equity in my house), how can people have less than 10K? I mean assuming you understand that young kids won't have had enough years to accumulate much...I don't get it. Jamie...excellent well thought out and reasoned answer, that's why the lib gave u thumbs down...lol

while they give bank billions in get out of jail free money http://finance.yahoo.com/retirement/article/109011/defaulted-loans-may-haunt-seniors?mod=retire-planning

http://finance.yahoo.com/news/How-to-Tell-if-You-Are-Saving-usnews-866328234.html?x=0&.v=1

When your 401K depends on these companies making profit. Are you advocating that they give your retirement funds to the government or give it back to companies that finance your retirement? Part of making profit is helped by having a good image, but only liberal college profs believe that companies exist solely for social welfare. Bookish - You use personal attacks. That says quite a bit about your abilities be honest.

I have been divorced since Jan of O8, and heres the twist.;... I have several health problems some of which can be life threatening if not treated, have had tons of surgeries and am on a good 2O meds a day..... Can anyone tlel me where I can find divorce support type groups? or if there is such a group something were people like me can start new relationships without people being afraid of my physical state or the act that I don't/can't work, drive etc due to my medicine... also without judgement when it comes to finances, I live on social security {my dads retirement pension} so Im not rich and I cant take tons of trips and shop every other day.... I do get to shop and havee my girl days hair, nails etc but just not all the time..... any help or ideas appreciates! It gets kinda lonely being defined by whats wrong with me as fragile, why don't I work??, getting judged on my income etc ....my health issues have scared every guy I have even said hi to off.... I know I am alot of responsibility but one shouldnt judge based on that..... I don't really go looking for a new mate/companion either... I just do the old stand by of wait and see if its meant to happen they will come to me but I have had NO luck

There's this girl i like who i've been friends with for a couple of months and i asked if she wanted to go out for lunch somewhere after school. she said sure and i suggested subway but she was like i don't really like subway i asked her to just try it again b/c i have coupons. was that lame? then she said you know what maybe another time i got a lot of homework tonight. i'm not sure if she knows i like for a gf or not because she has alot of guy friends. i told this to one of my friends and he said i sounded like "i was saving for my retirement, and that i'm too serious and most teens don't think about finances."

Need to have someone check out my life insurance, put a trust together for me, and help me put my finances into a plan for retirement, college for my son, etc.

I have been rated by the Meb 30% disability. My compensation from the Army alone is around $913 a month while on TDRL . I have been completely out processed out of the Army, on my terminal leave which ends March 25th. After my finance final out from the Transition Ofiice, they told me my retirement separation pay will be in my account 15 days after 2010/03/25. It is around $1500. Do I get paid every first of the month? I also thought retirement separation pay was for $20% and lower, who are just getting a general discharge. I received a honorable discharge and have been placed on TDRL, which everyone knows..Is 5 years. Have I been misguided? Please explain! Thanks Since I am in the '' Old system'' of the Meb, the paperwork system .. Am I eligible for Va and military compensation benefits? I was told my Va rating will be mailed out to me 2 weeks after my separation date. its just confusing, i though '' retirement separation pay ''was a 1 time payment for 20% and below. however I am getting that once a month paycheck for 5 yrs.. I actually compared my e/4 paycheck I am getting every month from my terminal leave.. I am pretty sure I am making more money than If i sold my leave..I had about 35 days. I am on my 6th day now/ It's weird too, My ETS date was actually december 2010 ( 4 yr contract) and I am medically retired months before that.

Why was the U.S. taxpayer forced to bail this company exactly?? http://news.yahoo.com/s/nm/20100226/bs_nm/us_aig;_ylt=AuXdNENlWndZXLP40MPDYrKOe8UF;_ylu=X3oDMTJycDM1ZHVzBGFzc2V0A25tLzIwMTAwMjI2L3VzX2FpZwRjY29kZQNtb3N0cG9wdWxhcgRjcG9zAzcEcG9zAzcEc2VjA3luX3RvcF9zdG9yaWVzBHNsawNhaWdwb3N0czg5Ymk- NEW YORK (Reuters) – American International Group Inc (AIG.N) reported a quarterly loss of $8.9 billion, hurt by loss reserves and efforts to repay the U.S. government, as it struggles to find its feet more than a year after its $182.3 billion rescue. AIG's general insurance unit, Chartis, and domestic life insurance and retirement services, SunAmerica Financial Group, showed improvement. But the market remained skeptical, and AIG shares fell 7.9 percent to $25.33 in Friday midday trading on the New York Stock Exchange. "It could have been a better result," said Bill Bergman, a senior analyst at Morningstar. "We have seen improvement in housing finance and credit markets in ways that AIG might have benefited to a greater extent than what we saw today." sadcat............That would be the same "too big to fail" doctrine the Obama WH still supports?? middle..........I hadn't seen that (the Addendum at least). Thanks for the link.

Sorry this is long. I appreciate your advice! He is very responsible when it comes to his finances. He has a good career and absolutely no debt whatsoever. He paid for his truck and motorcycle in cash. He pays his bills (cell phone, rent, and insurance) on time, every time. He just got his first credit card ever a year or two ago when he was around 33 (he's 35 now). He only got them to build more credit. He doesn't spend anymore than he did before the cards and he pays them off in full every month. He puts away the max every month for retirement. He refuses to buy a house until he saves up enough for a 20% down payment, which he puts away a lot for that every month too. So, his financial responsibility is great. But when it comes to maintaining a household, it's ALL on me. We live together in an apartment and we split all the bills, including the rent, in half so it is not like he supports me financially in any way right now. I go to school full-time and work part-time. I make sure the rent, electric, and cable bills are paid on time every month. He just gives me his half of the money. If there is ever a problem in our apartment, he always tells me to call the maintenance people. Same thing if there is a problem with the internet or cable or whatever. I am expected to do all the cleaning. He will wash a couple dishes, do his own laundry, and dustbust here and there, and that is the extent of his cleaning contribution. He will always say things like "Jesus Christ" in a disgusted voice if there is cat hair on the couch or the litter box is not scooped or something, as if he is disgusted that these things aren't done (by me, of course). I got both cats when we were together, but he NEVER helps me with their litter box. That would be like if he got a dog and I just never offered to walk it or feed it. I would never do that though. I would treat the dog like my own even if I wasn't the one that got it. My boy cat Max acts like a brat sometimes and attacks our other cat and my fiance will say "YOU created this monster" but we were both there when I brought Max home as a kitten, so why doesn't my fiance have any responsibility for how he turned out? He is a pilot so he is gone a majority of the time. He uses that as his excuse for why he shouldn't have to help around the house. Too bad when he is off at home for 3 or 4 days at a time, all he does is go to the gym and sit on his computer the whole time. He has plenty of time to clean! I go to school full-time and work part-time, so it's not like I am just sitting at home with nothing better to do than clean. I am afraid that if we get married and have kids, maintaining the house and raising the children will be 90% my responsibility even if we both work full-time, and if there are any behavioral problems with the kids he will consider me fully responsible. What's the point of getting married if it's just another person to take care of and clean up after? Aren't spouses supposed to be partners and share responsibilities equally? Midnight, about your last question... wow! Recently I have been feeling like that. I have never told anyone that though. I feel guilty for even thinking it, but you've hit that nail on the head. and no, it is not just about the cats.

There's an article here on Yahoo and it says nothing, the text area looks blank where the text should be ? http://finance.yahoo.com/retirement/article/108881/what-you-need-to-know-about-social-security?mod=retire-planning Is blank the way it looks on your monitor also, for the people who can display it, what does it say, perhaps copy and paste the text or something ?

im trying to fill out paperwork for a retirement savings plan at work and am having trouble with part of the paperwork. Below is what the paperwork says. Thanks! ten pts! "Employee contribution percentages (authorization for payroll deductions) 1. Pre tax contributions _______% (enter a % between 1 and 25%) 2. After tax contributions _______% (Enter a % between 1% and 10%). important notes- the total of 1 and 2 above cannot exceed 25%. " I want to put away just 30$ a month out of my 30,000 salary and I know i need to find what the % is for that. The part i'm confused on is how do I split up this % between the two lines(once i have it figured out)? I dont want to put the wrong %s down for each line but I'm not sure what the meaning of each line is. If you can, I need it dumbed down because i'm so lost when it comes to finances..taxes..ect. Like what is the diff between me putting 2% on the first and 4% on the second or flipping that around? I dont get it.thanks!! (and i DO know my total cannot exceed 25% lol).

A company is considering a $50 million expansion next year. The company wants to determine how much financing is going to be needed. Next the company expects to earn $25 million after interest and taxes. The company also plans to increase its dividends from $5 million to $7 million. If they go ahead with the expansion, the company expects working capital requirements to increase by about $8 million next year. Long term debt retirement obligations total $3 million next year and depreciation is expected to be $13 million. No fixed assess are expected to be sold next year. How much additional financing is needed?

I asked this question under personal finance, but perhaps economists might have the perspective I am looking for. How much is enough? There are countless online calculators to tell us how much we need to be financially secure, but all of these calculators depend on rate of return assumptions. Some use a level return, others use monte carlo simulations based on assumptions of expected return and volatility. Many advisers suggest that a typical retiree can safely begin withdrawing 4% and then increase withdrawals by inflation and expect their portfolios to last for 30 years if they achieve market returns and volatility on a 60% equity portfolio. Others say these advisers are too optimistic. They say that this guideline is based on historical returns that are not likely to be repeated. Still others say that these advisers are too conservative and that retirees can safely draw 6% as long as they are willing to accept some volatility in withdrawals and a natural decline in spending as they get older. All of these beliefs are based on rate of return assumptions. With interest rates low, equity markets scary and US budget and trade deficits threatening high inflation, what can a retiree safely assume? I have looked at the historical US data going back to 1824. I have looked and the Ibbotson series going back to 1926. I have looked at other asset class data including foreign large, small and emerging markets, gold, REITs and commodities going back as far as it goes. I know the data pretty well. I am looking for qualitative answers - wisdom from others who have studied the data. The question of rate of return assumptions is, of course a question that cannot be answered definatively. However, whether we admitt it or not, it is nonetheless a question we all answer implicitly when we choose a saving rate and a spending rate. I am looking for answers from those who have given this some thought. 7% is a conservative before-tax return if it is associated with a 4% or more inflation rate. It is an aggressive assumption if it is an after-tax assumption or is associated with an inflation-rate of 3% or less. It is also likely to require an assumption that will require at least a 60 or 70% allocation to equities to achieve. I am not expecting to get a definative answer. I am looking for some enlightening perspectives from those of you who have given this subject some thought. Thanks for your thoughts.

Please explain it and show me the equation! 4. The expected dividend next year is $1.30 and dividends are expected to grow at 5% forever. If the discount rate is 10%, what is the value of this promised dividend stream? 5. If you can afford a $400 monthly car payment, how much car can you afford if interest rates are 7% on 36-month loans? 6. A defined-benefit retirement plan offers to pay $20,000 per year for 40 years and increase the annual payment by 3-percent each year. What is the present value at retirement if the discount rate is 10-percent?

this is the situtation, my dad passed away about a year ago, he had a a pension saved for his retirement, its a pretty large sum. my mom is going threw some hard times with finances since he passed. he was 56, is my mom able to recieve that money? or is the insurance going to give us a hard time about it? what is the best solution for this situtation. thanks for any feedback

My Dad is trying to do his taxes for 2009. One of the things he is looking over and trying to figure is the following: He bought 200 shares of General Motors(Symbol GM) on 4-1-05 at $28.50/share($5,700). He sold the stock June 8th 2009 while it was in bankruptcy(the 200 shares) at .92/share(Symbol: GMGMQ) and received a total of $183.63. I read in the following article that you can get a tax break on the old GM stock if you unloaded it. http://www.freep.com/apps/pbcs.dll/article?AID=20102110626 Specifically: Tax tips if you've sold stock • File Form 1040 Schedule D. • Brokerage statements can help you calculate your cost -- and reduce the taxable gains on a stock once it is sold. Talk to your broker, but it is possible that your broker may not have all these records -- especially if accounts were moved to different firms, said George W. Smith IV, certified public accountant at George W. Smith & Co. in Southfield. • If you know when you bought the shares, you can get historic prices at Google Finance or www.bigcharts.com. For GM, you need to enter MTLQQ in the search box. • Investors can research some GM stock prices at www.motorsliquidation.com -- click on Investor Information. The site has a list of GM closing stock prices from May 31, 1989, through May 29, 2009. It also has a section listing common stock splits for GM, spinoffs and dividends from 1950. • You have a capital gain if you sell the asset for more than your cost basis. You have a capital loss if you sell the asset for less than your basis. Losses from the sale of personal-use property, such as your home or car, are not deductible. But losses from the sale of a stock are deductible. • If you hold the asset for more than one year before you sell it, your capital gain or loss is long-term. If you hold it one year or less, your capital gain or loss is short-term. • If your capital losses exceed your capital gains, the amount of the excess loss that can be claimed is the lesser of $3,000 ($1,500 if you are married filing separately) or your total net loss as shown on line 16 of the Form 1040 Schedule D, Capital Gains and Losses. If your net capital loss is more than this limit, you can carry the loss forward to later years. Carefully follow the Capital Loss Carryover Worksheet in Publication 550 to figure the amount carried forward. One point that is made in the main article is this: When any shares outside of a retirement account are sold, though, the loss or gain would be taken in the tax year when they're sold -- and if necessary, some of the loss would be carried forward into future years as well. Given the above information, can my dad actually do the above on his schedule D? He was questioning this because of a letter that was sent out to GM stockholders when bankruptcy was declared indicating the following: (ii) finding that trading in GM common stock(the "GM Stock") could severely limit the Debtors' ability to use the Tax Attributes for purposes of the Internal Revenue Code of 1986, as amended(the "Tax Code"); and 105(a) and 362(a) of the Bankruptcy Code retroactively effective as of the Commencement Date(the "Final Order"). If you are a CPA, or can answer this question, any help would be appreciated. Thank You.

Excerpts: I fear that today the control, nationalization and ultimate confiscation of trillions in private US retirement plan assets is on the horizon. Rick Santelli alluded to the possible nationalization and forced investment into treasuries on CNBC as recently as January 8, 2010. There was also similar coverage on Bloomberg and Business Week. Says Holland, "I think the mandatory IRAs just proposed by Obama is the first step in stealth nationalization and forced investment of our retirement benefits to support the U.S. Treasury debt market." http://www.ronaldholland.com/retirementtrap.htm There is an estimated $15 trillion worth of private retirement plans in the United States; $4 trillion in IRAs alone; this constitutes 35 percent of all private assets in America. That is what the Obama government is eyeing to help plug the multi-trillion dollar deficit in his big spending budget. You could call this move Obama’s attempt to "pull an Argentina." What’s “An Argentina?” In October 2008, Argentine President Cristina Kirchner—a peronista—confiscated US$30 billion worth in that country’s 10 privately managed pension funds. This was presented as an emergency measure to meet her faltering government’s financing costs. The Argentine congress went along with this radical property grab of individual retirement accounts, 401Ks and the like. Could this happen in America? Should you be worried about this latest radical Obama move?

My sister and I are pretty close despite an age difference of seven years. We can talk about pretty much anything...accept how she borrows money from our mother. Let me give you a little background. My sister has a part time job, my brother-in-law is self employed (I think he "plays" too much and doesn't put enough effort into his job, but that's another subject). They have three kids. My sister and brother in law are really bad about borrowing money from Mom when they come up short at the end of the month and can't pay all their bills, and they are bad about letting Mom pay for things like part of the kids tuition, or coats for the kids, or groceries to "tide them over". (which they don't consider borrowing because "she offered") Now before you say I sound heartless let me point out that they DON'T live frugally. They go out to eat several times a week. My sister will go on shopping trips with her friends and spend money they really don't have. My brother in law will take half a week off, when he should be working, and go hunting with his buddies. And then when they don't have enough money to cover the bills, they go to my mom. And it's not that they only borrow from her occasionally - it's constant. My mom is 69. She teaches at a small private school with no retirement plan. At some point, she's going to have to stop teaching and retire. And I worry about her and her finances when she doesn't have a steady check coming in but my sister is still borrowing from her. I really do love my sister and I don't want to drive a wedge between us or start a family feud. So HOW do I sit her down and tell her my worries and make her understand that the borrowing has got to stop without making her mad? Please help!

You are planning your retirement and you come to the conclusion that you need to have saved $1,500,000 in 30 years. You can invest into an retirement account that guarantees you a 6% annual return. How much do you have to put into your account at the end of each year to reach your retirement goal? a.$81,314.29 b.$18,973.37 c.$23,346.59 d.$12,382.37 show work please I don't understand this

My father is 62 and is about to retire from service , he has been working for almost 41 years. He has been getting more and more anxious about the upcoming retirement as he feels he would be doing nothing at home. My mother has another year to go before she too retires. I have suggested my father to consider working at some not-for-profit(NGO) organization or help out at the church , so he can keep himself busy as well as get satisfaction of doing something for his community or pursuing some hobby. Finance is not an issue because he would be getting his pension. I just want my dad to be happy about his retirement and spend more time doing what he wanted to, without feeling he is IDLE. Any other ideas you may have please let me know. PS:I stay in a different city, my parents are based in Delhi.

Many Republicans oppose it and even Ryan denied that his plan represents the GOP budget plans. His plan replaces the current tax exemptions for employer-provided health insurance with a refundable tax credit. Medicare benefits would ultimately be set aside in favor of a system of vouchers for private insurance. Social Security (pensions) benefits would be cut back for younger workers, who would then be allowed to divert a share of their payroll-tax contributions (which go to finance Social Security) into private retirement accounts. The income-tax code is cut down to two brackets. Corporate income taxes are replaced with a corporate consumption tax of 8.5%. Capital-gains taxes are eliminated entirely. Places a ten-year nominal freeze on non-defence discretionary spending. Cap federal government outlays at 19% of GDP http://thehill.com/blogs/blog-briefing-room/news/80605-rep-paul-ryan-says-his-budget-plan-doesnt-represent-gop

I mean, apparently we are now being warned that people aged 55 - 65 are in denial about their upcoming finances in retirement. Apparently many of them will still have a big mortgage at 65 and no savings and blah blah blah. Well, how is someone on the average wage supposed to buy a house and bring up a family and put their kids through University and save enough for retirement, given the way annuity rates have been heading south ? I mean the government know you cannot square the circle on this fiscal equation and frankly I think they are having a laugh. What do you think ? Vicky...please accept my werry 'umble apologies.

do you know that exists a secret elite of bankers,lobby and multinationals that hold the true power of the world? these companies are managed through dummies by a narrow group of situated people in the high finance of wall street. They decides the election and the fall of heads of State, they decide the wars,financial crysis, make attempt political and they influence and check us through the Mass Media. Through these way they want that we live in terror. This "Global Elite" of which speak more and more writers it practises pagan rites and it is connected with all the secret societies of the world. The same Obama is only a puppet in their hands chosen with the precise intention to let in the people to be a symbol of hope and change to believe. Thanks to this he is able to make things that would not have been permitted to other presidents. The objectives of the elite are: 1) an Unite Global World (they are realizing little by little it unifying all the countries of a continent under an only government. you see European Union, Union North American of which few are to knowledge and trailer the same will happen in Africa and East) 2)a World army (he is already realizing. I don't know if you have listen that has been proposed to create an only army under the power Nato) 3)Installation of Microchip underskin to the population to controls minds(I know that it seems a scenery of film of science fiction but it is already reality http://www.youtube.com/watch?v=MAI2-_hnFH0 to the beginning they will tell us that it is for our own good and that it will be voluntary. Then it will become obligatory 4)Retirement of all the cash money and payment through the microchips above quoted. We will have a sort of bar code in the arm to pay. 5)Conclusion: total enslavement and slavery of the human race They has been responsible of the 2 world wars, of the War of Vietnam, of the Gulf, the civil war in America between North and the South and all the wars to the Oil. As well as the various political assassins like that of Abramo Lincoln and John Fitzgerald Kennedy that wanted to remove the power from the banks and they has been for this eliminated. Obviously also on September 11 and all the economic crises to hoc are been built for favoring the few of the elite. it is hard to be accepted but it is the hard reality. There are many writers that say this since years. Nevertheless their plan won't be successful look this http://www.youtube.com/watch?v=KrpRocaEfQE

Let us ask Joe the Conservative. Joe gets up at 6 a.m. and fills his coffeepot with water to prepare his morning coffee. The water is clean and good because some tree-hugging liberal fought for minimum water-quality standards. With his first swallow of water, he takes his daily medication. His medications are safe to take because some stupid commie liberal fought to ensure their safety and that they work as advertised. All but $10 of his medications are paid for by his employer's medical plan because some liberal union workers fought their employers for paid medical insurance - now Joe gets it too. He prepares his morning breakfast, bacon and eggs. Joe's bacon is safe to eat because some girly-man liberal fought for laws to regulate the meat packing industry. In the morning shower, Joe reaches for his shampoo. His bottle is properly labeled with each ingredient and its amount in the total contents because some crybaby liberal fought for his right to know what he was putting on his body and how much it contained. Joe dresses, walks outside and takes a deep breath. The air he breathes is clean because some environmentalist wacko liberal fought for the laws to stop industries from polluting our air.He walks on the government-provided sidewalk to subway station for his government-subsidized ride to work. It saves him considerable money in parking and transportation fees because some fancy-pants liberal fought for affordable public transportation, which gives everyone the opportunity to be a conributor. Joe begins his work day. He has a good job with excellent pay, medical benefits, retirement, paid holidays and vacation because some lazy liberal union members fought and died for these working standards. Joe's employer pays these standards because Joe's employer doesn't want his employees to call the union.If Joe is hurt on the job or becomes unemployed, he'll get a worker compensation or unemployment check because some stupid liberal didn't think he should lose his home because of his temporary misfortune. It is noon time and Joe needs to make a bank deposit so he can pay some bills. Joe's deposit is federally insured by the FSLIC because some godless liberal wanted to protect Joe's money from unscrupulous bankers who ruined the banking system before the Great Depression. Joe has to pay his Fannie Mae-underwritten mortgage and his below-market federal student loan because some elitist liberal decided that Joe and the government would be better off if he was educated and earned more money over his lifetime. Joe also forgets that his in addition to his federally subsidized student loans, he attended a state funded university. Joe is home from work. He plans to visit his father this evening at his farm home in the country. He gets in his car for the drive. His car is among the safest in the world because some America-hating liberal fought for car safety standards to go along with the tax-payer funded roads. He arrives at his boyhood home. His was the third generation to live in the house financed by Farmers' Home Administration because bankers didn't want to make rural loans. The house didn't have electricity until some big-government liberal stuck his nose where it didn't belong and demanded rural electrification. He is happy to see his father, who is now retired. His father lives on Social Security and a union pension because some wine-drinking, cheese-eating liberal made sure he could take care of himself so Joe wouldn't have to. Joe gets back in his car for the ride home, and turns on a radio talk show. The radio host keeps saying that liberals are bad and conservatives are good. He doesn't mention that the beloved Republicans have fought against every protection and benefit Joe enjoys throughout his day. Joe agrees: "We don't need those big-government liberals ruining our lives! After all, I'm a self-made man who believes everyone should take care of themselves, just like. I have."

I'm 57 years old and was recently laid off from my previous job as a tax accountant at a big firm. I was making quite a good salary but was released after the department was trying to clean out. Now I'm left without a job and worried. My severance pay is running out and I don't want to get into the retirement age with no money. I have a degree in math and finance. Any jobs? P.S. I'm using my son's accountant so this isn't the usual "Chicken Tenders"

For the first time in 25 years, the trust fund that all our social security taxes are pooled into will not have enough income to cover all the expenditures. What is the government's excuse this time, and how do you see them handling this? Raising taxes? Reducing benefits? Abolishing the entire system? http://finance.yahoo.com/focus-retirement/article/108747/next-in-line-for-a-bailout-social-security?mod=fidelity-readytoretire

Now you can fly in sea. http://finance.yahoo.com/retirement/article/108737/branson-goes-20000-leagues-under-the-Sea?mod=retire-planning

http://finance.yahoo.com/focus-retirement/article/108713/the-spend-every-penny-retirement-plan?mod=fidelity-readytoretire How in the world did this become good investment advice? They are basically advising retirees to spend every dime of their retirement savings. That now it is becoming "increasingly popular" not to leave a legacy to family and to spend every last dime on country clubs, fancy dining, and cruises? I understand when you are retired you should spend some money on yourself...but why are they encouraging retirees in the middle of a recession to not save for the future and to spend, spend, spend??? What if they sick? What about medical bills? Is the economy so bad they are trying to bankrupt retirees so they will spend their money instead of hoarding it in the bank?

http://www.reuters.com/article/idUSTRE60U1PZ20100131?type=politicsNews%3FfeedType%3DRSS&feedName=politicsNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FPoliticsNews+%28News+%2F+US+%2F+Politics+News%29&utm_content=Google+Feedfetcher "WASHINGTON (Reuters) - The White House predicts that the United States will post a record $1.6 trillion budget deficit in the current fiscal year, a congressional source told Reuters on Sunday. In its budget proposal to be released on Monday, the White House predicts that deficits will fall to $700 billion by fiscal 2013 before gradually rising back to $1.0 trillion by the end of the decade, the Capitol Hill source said. The estimate by the White House's Office of Management and Budget paints a grim picture for U.S. finances over the coming decade, even as the economy recovers from the worst economic downturn in 70 years. The White House estimates that the deficit for the current fiscal year, which ends September 30, will be even higher than the record $1.4 trillion gap recorded last year. That would mean that the deficit will continue to hover at a level not seen since World War Two, when measured as a percentage of gross domestic product. Deficits are projected to fall as the economy recovers, but they will still average roughly 4.5 percent of GDP over the coming decade, well above the 3 percent that most economists consider to be sustainable, according to the estimate. Deficits are expected to rise again toward the end of the decade due to the increasing cost of retirement and healthcare programs as the "baby boom" generation retires." What are your thoughts on the article?

I was raised by a single mom. She raised two sons and emigrated from another country to settle in the U.S. She mostly took low wage jobs, while raising a family on her own. I worked as soon as I was legally eligible. However, as I look at her finances--assets, liabilities, etc., it looks like she'll be working for a while. Currently, she lives on her own in rent control apartment in NYC, only paying $650 per month since she's been in that apartment for over 15 years. She always avoid financial planning and while she has some money saved up, it won't be enough for her to retire full time. This worries me because I've helped her get out of debt, but she continues to get back in it. I helped her set up a budget to better manage her money, but she abandons it after a couple months and goes back to paycheck to paycheck living. Her only extravagance is travel, which she uses to visit her family oversees once a year, all on credit cards. So it's a revolving door of debt to debt living. I don't ming talking care of her financially, which I already do, but it just frustrates me that she wants to spend her retirement years paying of credit cards and working part time just to make ends meet, even after I tried to provide help. Anyone can relate?

************Life of Joe the REPUBLICAN************ Joe gets up at 6 am and fills his coffeepot with water to prepare his morning coffee. The water is clean and good because some tree-hugging liberal fought for minimum water-quality standards. With his first swallow of water, he takes his daily medication. His medications are safe to take because some stupid commie liberal fought to ensure their safety and that they work as advertised. All but $10 of his medications are paid for by his employer's medical plan because some liberal union workers fought their employers for paid medical insurance - now Joe gets it too. He prepares his morning breakfast, bacon and eggs. Joe's bacon is safe to eat because some girly-man liberal fought for laws to regulate the meat packing industry. In the morning shower, Joe reaches for his shampoo. His bottle is properly labeled with each ingredient and its amount in the total contents because some crybaby liberal fought for his right to know what he was putting on his body and how much it contained. Joe dresses, walks outside and takes a deep breath. The air he breathes is clean because some environmentalist wacko liberal fought for the laws to stop industries from polluting our air. He walks on the government-provided sidewalk to subway station for his government-subsidized ride to work. It saves him considerable money in parking and transportation fees because some fancy-pants liberal fought for affordable public transportation, which gives everyone the opportunity to be a contributor. Joe begins his work day. He has a good job with excellent pay, medical benefits, retirement, paid holidays and vacation because some lazy liberal union members fought and died for these working standards. Joe's employer pays these standards because Joe's employer doesn't want his employees to call the union. If Joe is hurt on the job or becomes unemployed, he'll get a worker compensation or unemploy ment check because some stupid liberal didn't think he should lose his home because of his temporary misfortune. It is noontime and Joe needs to make a bank deposit so he can pay some bills. Joe's deposit is federally insured by the FSLIC because some godless liberal wanted to protect Joe's money from unscrupulous bankers who ruined the banking system before the Great Depression. Joe has to pay his Fannie Mae-underwritten mortgage and his below-market federal student loan because some elitist liberal decided that Joe and the government would be better off if he was educated and earned more money over his lifetime. Joe also forgets that his in addition to his federally subsidized student loans, he attended a state funded university. Joe is home from work. He plans to visit his father this evening at his farm home in the country. He gets in his car for the drive. His car is among the safest in the world because some America-hating liberal fought for car safety st andards to go along with the tax-payer funded roads. He arrives at his boyhood home. His was the third generation to live in the house financed by Farmers' Home Administration because bankers didn't want to make rural loans. The house didn't have electricity until some big-government liberal stuck his nose where it didn't belong and demanded rural electrification. He is happy to see his father, who is now retired. His father lives on Social Security and a union pension because some wine-drinking, cheese-eating liberal made sure he could take care of himself so Joe wouldn't have to. Joe gets back in his car for the ride home, and turns on a radio talk show. The radio host keeps saying that liberals are bad and conservatives are good. He doesn't mention that the beloved Republicans have fought against every protection and benefit Joe enjoys throughout his day. Joe agrees: "We don't neeGET /question/qualityTips?text=Are all republicans like Joe? I believe so, what do you think

I will be finishing up my undergrad in chemical engineering. I want to go to grad school. My goals with this graduate degree are to learn about investing and wealth generation. I want to be my own stock broker and manage my own retirement. As a secondary goal, I want the degree to enhance my job opportunities in the field of chemical engineering. There are 3 choices I am looking at. 1.MBA with a specialization in finance 2.MS in Finance 3.MS in Financial Engineering For starters I have never heard of Financial Engineering. I was hoping someone could tell me how a financial engineer differs from a MS of Finance. I understand that the obvious choice might be MBA since I want to move up. However, if advancement is just as possible with the other degrees then I would prefer the one that would enable me to apply my education to managing my own money portfolio. Any insight will be helpful

Your retirement account has a balace of $50,000. what interest rate would need to be earned in order to accumulate a total of $1,000,000 in 30 years, by adding $6,000 annually . PLEASE HELP !!!!!!!!!!!!!!!!!! Desperate .

Very quick accounting/finance question on bonds and debt retirement: ABC. had bonds outstanding with a maturity value of $550,000. On April 30, 2008, when these bonds had a carrying value of $539,000, they were called in at 103. To pay for these bonds, the company had issued other bonds a month earlier and bearing a lower interest rate. The newly issued bonds had a life of 10 years. The new bonds were issued at 102 (face value of $550,000). Ignoring interest, calculate the gain or loss and record the retirement transaction. Dr. Bonds payable ______ Cr. Loss on redemption of bonds _______ Cr. Cash ___________ Thanks!!!!!!!!!!!

8. When using an Automated Teller Machine or ATM – what is used to confirm the identity of the user? (1 point) * Personal Identification Picture * Private Internal Number * Personal Identification Number * Private Identity Number 9. The state ________ tax is added to the total on most purchases. (1 point) * income * sales * fuel * subsidy 10. Which of the following is NOT a basic necessity? (1 point) * Electricity * Running Water * Groceries * Cable Television 11. When a bank holds the title to an asset in order to secure a loan, what is the asset called? (1 point) * default * collateral * peripheral * principal 12. What type of debt uses collateral to ensure repayment of a loan, and generally offers lower interest rates? (1 point) * secure debt * revolving debt * equity debt * refinancing 13. A debt that is sent from the lender to a collection agency is called a what? (1 point) * bad debt * late payment * overdraft * repossession 14. Calculate the total price of an MP3 player that costs $178.95 if the sales tax is 9.5% - what is the total? (1 point) * $195.95 * $194.55 * $199.24 * $190.75 15. 45% of $125.50 is how much? (1 point) * $75.00 * $62.75 * $56.48 * $80.54 16. Another name for a check is which of the following? (1 point) * I.O.U. * promissory note * invoice * instrument 17. If you fail to pay a bill by the statement due date you may be charged a what? (1 point) * overdraft fee * finance charge * interest rate * late fee 18. A guarantee that a product will work as described for a certain period of time, or the manufacturer will replace it is called a what? (1 point) * promissory note * lease * warranty * premium 19. When you visit a doctor, or you fill a prescription, the amount that you pay out of your own pocket in addition to what your insurance company pays is called a what? (1 point) * deductible * co-pay * premium * coverage 20. Which of the following is an example of an involuntary salary deduction? (1 point) * retirement account contributions * federal tax withholding * optional health care coverage * car payments 21. When the elderly or disabled depend on governmental assistance to live, and it doesn’t change from month-to-month, they’re considered to be living on a(n) what? (1 point) * fixed income * fixed expense * fixed revenue * fixed costs 22. Another word for bankrupt is what? (1 point) * insolvent * incoherent * broke * impoverished

Seems not only are they stealing 500 Billion from Medicare With the backing of the AARP, Democrats fended off a Republican effort to strip the Senate reform bill of nearly $500 billion in Medicare cuts over 10 years. ... http://industry.bnet.com/healthcare/10001457/medicare-cuts-do-not-have-to-endanger-care/ Now it seems they are going to raise the tax on their retirements.... Democrats consider expanding Medicare tax to investment income to finance health care Why do Democrats hate the elderly?

Can a immediate family member give me a check for a portion of the home closing costs (loan payment + fees) after the bank has approved the loan based on my finances? I have some funds that are retirement and don't want to break into it. during the loan application, the gift check was never mentioned. is it too late? Thanks everyone. I took #3's advice and spoke with the bank. As long as funds are in the checking account by closing it's fine. there is a gift letter form that must accompany this. but this cannot be a loan. in other words if you want to pay back you can, but you are not obligated. thanks everyone. #1 mentioned $10,000. The gift tax limit in 2010 is $13, 000 I think. This means if a family member decides to gift under $13,000 (a year) to a person, you don't need to pay tax on that amount. somthing like that?

http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning

http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning

The following personnel information about the Marshal Fire Department for the fiscal year that begins January 1, 200X, is to be used. Employee Grade__Number in Grade__Salary______ Chief------------------------- 1--------------- $105,000 Shift Commander-------- 3----------------- 70,000 Firefighter 1--------------- 12--------------- 39,000 Firefighter 2--------------- 26--------------- 30,000 Clerical (part-time)------- 3--------------- 15,000 The city is part of the federal Social Security system. For 200X, the city and the employee each pay Social Security payroll taxes of 6.2 percent of all salary paid up to $90,000 per employee to finance federal retirement and disability insurance and 1.45 percent of all salary paid to finance Medicare. The city pays a portion of the cost of health insurance for each full-time employee, an amount equal to $180 per month. Employees on the payroll after June 30, 200X, regardless of hiring date, are part of a new pension system financed by a city payment of 20 percent of the employee’s salary and employee payment of 5 percent of the employee’s salary on pay received after that date. Payments up to that date were made by state appropriations from state tobacco tax revenue. Full-time employees received an allowance for uniforms of $750 per year. Estimate the city’s full cost of the fire department labor during 200X fiscal year, assuming no change in staffing. Separate that cost into salary and fringe benefit components.

I just read an article at Yahoo finance that I am totally in agreement with (below). Simply stated, I believe China is heading for a crash. I'm just not sure which specific stocks to short to benefit from this prediction. Would love to hear some thoughts? http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning P.S. If this isn't your cup of tea, spare me the insults

http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning Its a minority opinions, however there is motive for the majority to be optimistic about China as we trade so much with it. Companies who get materials from China would not want to be hurt over doubts over China's economy. So what do you think? Is China's growth sustainable or are they going to be Dubai X 1000?

Basically the guy who foresaw the collapse of Enron thinks China is about to have serious problems. His argument: they are providing tons of easy credit. This is easy credit then allows people to buy things they maybe can't afford (similar to U.S. housing bubble). All this buying makes investors think the economy is growing rapidly........when in reality it's a building bubble that will inevitably have to burst. What do you think?? http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other highflying companies whose stories were too good to be true. Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc. As most of the world bets on China to help lift the global economy out of recession, Mr. Chanos is warning that China's hyperstimulated economy is headed for a crash, rather than the sustained boom that most economists predict. Its surging real estate sector, buoyed by a flood of speculative capital, looks like "Dubai times 1,000 -- or worse," he frets. He even suspects that Beijing is cooking its books, faking, among other things, its eye-popping growth rates of more than 8 percent. More from NYTimes.com: "Bubbles are best identified by credit excesses, not valuation excesses," he said in a recent appearance on CNBC. "And there's no bigger credit excess than in China." He is planning a speech later this month at the University of Oxford to drive home his point. As America's pre-eminent short-seller -- he bets big money that companies' strategies will fail -- Mr. Chanos's narrative runs counter to the prevailing wisdom on China. Most economists and governments expect Chinese growth momentum to continue this year, buoyed by what remains of a $586 billion government stimulus program that began last year, meant to lift exports and consumption among Chinese consumers.

Anybody have opinion on this article? This guy has been right before. What will happen to all the American debt they own if this happens? http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning So SD, stop spewing diarrhea then.

http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning Contrarian Investor Sees Economic Crash in China "As most of the world bets on China to help lift the global economy out of recession, Mr. Chanos is warning that China's hyperstimulated economy is headed for a crash, rather than the sustained boom that most economists predict. Its surging real estate sector, buoyed by a flood of speculative capital, looks like "Dubai times 1,000 -- or worse," he frets. He even suspects that Beijing is cooking its books, faking, among other things, its eye-popping growth rates of more than 8 percent." Where will we get all our cheap imports after China crashes? Will the shelves be empty at Walmart? And here we are with 10% unemployment, then next thing you know Walmart can't find anybody to make stuff for them to sell anymore. Things just go from bad to worse. Hey, wait. I got an idea....

Interesting article here. The fact that we are tied so far into China's economy can only spell trouble for the world. What do everyone think is going to be the repercussions are going to be? http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning Correction: *What does everyone believe the repercussions are going to be?

I am looking for a new job but I can not figure our how to word my objective so it is appropriate for every position I apply for instead of having to customize it every time. I am planning to go to a temp agency, so I need it to be good but general. CURRENT OBJECTIVE I am a motivated self starter with a background in Retirement/Investment Accounts, Finance & Insurance, cash office, customer service and retail hoping to utilize past experiences and new techniques to excel in my position at ___________. EMPLOYMENT HISTORY (SUMMARIZED) Office Manager - Investment Planning Company - 1.5 years --> boss was wacky - I quit Finance and Insurance Assistant - Car Dealership - 2.5 years --> relocated from IL to TX - had to quit Cash Office Associate - Retail Store - 2 years Department Supervisor - same retail store as cash office position - 5 years --> Full-Time offer at Car Dealership If anyone can help me out I would greatly greatly appreciate it!