Bronx ‘money mule’ stole life savings from the elderly
A Bronx “money mule” was sentenced to prison Tuesday for scamming elderly victims out of their life’s savings, including a now-deceased woman who needed money to pay for treatment for a heart condition. Edward Rosario Canela, 48, was sentenced in a Hartford, Connecticut court to one year and one day in prison for conspiracy to […]
Disturbing new study reveals how long $1m in retirement savings would last in each US state – Daily Mail
An alarming new study reveals just how little people in each U.S. state have in retirement savings of $1 million. Personal Finance Site GOBanking Fees We analyzed data from each state to show how much you could live on a $1 million retirement income, given your annual expenses. The site took into account food, housing, […]
Stealing someone’s life savings from a bank isn’t hard – The Dallas Morning News
I had a hunch about the big banks: They would be much less likely to compensate customers who lost thousands of dollars to scammers posing as bankers. Two stories shared with Watchdog Nation in the same week about Chase Bank customers further strengthened my suspicions: one about a woman who lost $25,000, and another about […]
Women’s retirement savings lag men’s, raising prospect of retirement crisis: report
Ramsey Solutions personality Jade Warshaw breaks down how to make the most of your Social Security benefits and more on The Bottom Line. A potential retirement crisis is brewing among female retirees, with women saving roughly one-third as much as men, according to a survey released Monday by Prudential Financial. A survey of 905 American […]
Boomers live on Social Security, no retirement savings – Business Insider
Down icon An icon in the shape of a downward angle. Mary Dacus, 69, said she and her husband (not pictured) survive on Social Security benefits. Image source / Getty Images Mary Dacus, 69, struggles to afford basic necessities on her Social Security income. Inflation and limited income have forced Dacus and her husband to […]
What is a high-yield savings account? How to open your own account today
Goldman appeals to the masses Want to see your money grow? A high-yield savings account can help your money grow with very little effort. High-yield savings accounts offer higher interest rates than traditional savings accounts. As soon as you deposit money into a high-yield savings account, you’ll see how much extra cash you can earn […]
Save $10,000 in a year by following these tips like using a high-yield savings account and creating a budget
Dave Ramsey, founder and CEO of Ramsey Solutions, shares how Americans can financially prepare for retirement on “The Bottom Line.” Saving money all starts with a specific goal. So let’s start with $10,000 per year. Saving money is hard. There is pressure all around us to buy and buy, bills to pay and debts to […]
New retirement rule will help protect retirement savings of Americans already struggling to save
More than half of Americans believe they don’t have enough savings to fully retire. (iStock) Biden-Harris administration recently announced The ultimate retirement rules to help individuals save for retirement. The Retirement Security Rule updates the definition of a fiduciary, who is a financial manager subject to a specific code of ethics. The revised definition requires […]
Americans adjust retirement goals up 15% but savings drop: survey
Gen Z and Millennials have bigger retirement goals, according to a recent Northwestern Mutual study. (iStock) A recent study found that while the amount of money Americans think they need to retire comfortably is growing faster than inflation, the amount they’re saving is falling. According to Northwestern Mutual, U.S. adults believe they need at least […]
Labor Department cracking down on retirement savings advice
The Biden administration announced Tuesday that the Department of Labor will crack down on retirement savings advice to protect workers’ interests. Ministry of Labor announced announced that it has finalized retirement security rules aimed at protecting American workers who save for retirement and rely on advice from fiduciaries to do so. The new rules would […]