Although it’s been a few years since the start of the economic recession, baby boomers, particularly those closest to retirement, are still feeling the effects. A recent Government Accountability Office report found baby boomers were hit hardest by the recession because they did not have the same time and opportunities as younger workers to recover. [...]

A Texas Tech University professor recently co-authored a study on Americans’ financial savvy. The results are not encouraging. The bad news: “Americans, regardless of age, are on average financially illiterate.”  More discouraging, however, was Dr. Michael Finke’s finding that Americans’ financial smarts actually become less sound as they approach retirement age. On the one hand, [...]

As we have reported many times before, Hispanics are an extremely vulnerable population when it comes to retirement security. Just 10 percent of the 50.5 million Hispanics living in the United States have an individual retirement account. They may be the largest minority population in the United States, but Hispanics are also the least likely [...]

We’ve all been reminded over the years that we can learn a lot from our elders, but in the case of retirement savings we definitely can. Baby boomers heading into retirement are facing more financial challenges than ever before. According to the Federal Reserve Board’s Survey of Consumer Finances, the median 401(k) account balance for [...]

With the economy still struggling to recover from the worst recession in decades, most Americans have their hands full just maintaining their current level of income. Greater challenges could be just around the corner, however, as a recent Sun Life survey found that Americans’ outlook on retirement security has plummeted over the last year, during [...]

Do you know what the greatest financial risk facing retirees today is? Or if someone asked what the average monthly Social Security benefit paid to a retired worker was in 2010, would you be able to answer? U.S. News and World Report features a new quiz from MetLife, which asks these questions and more, testing [...]

As we reported on recently, Americans for Secure Retirement released a bipartisan national survey, highlighting the overwhelming concern that voters have when it comes to their financial security in retirement. Smart Money featured the ASR poll results this week, which found that 88% of respondents are concerned about being able to maintain a comfortable standard [...]

In a new segment, The Retirement Reality, talks with everyday baby boomers about their personal retirement reality. In this segment, Paula Lee, a 60 year old woman, approaching retirement, shares her retirement planning experience and talks about what she hopes to pass on to younger generations. The Retirement Reality (TRR): How old were you when [...]

Last week marked the final day of Hispanic Heritage Month, a 30 day celebration of the history and culture of the Hispanic community. Though it rightly provides an occasion to honor the past contributions made by the community, it’s just as important to ensure that Hispanic Americans look toward a future worthy of that proud [...]

The combination of an unstable stock market, the decline of traditional pension plans and uncertainty about the future of Social Security and Medicare confronts retirees with plenty of obvious challenges as they prepare to leave the workforce. However the biggest challenges, writes Smart Money’s Glenn Ruffenach, are the ones you don’t see coming. He warns [...]