People today are more responsible for their own retirement income security. Over the past 15 to 20 years there has been a shift in responsibility for long-term well-being away from institutions (employers, the government) to individuals. For example, in 1980, 70% of pension plans were defined contribution (DC, as opposed to defined benefit plans; DC plans shift more of the responsibility for the growth of retirement funds to the consumer); by 1997, 92% of plans were defined contribution (Conte 1998). In 1988, one-fourth (25%) of workers were covered primarily by DC plans; in 1998, over three-fifths (63%) were covered by such plans (Copeland 2002). (more…)

The lack of ability to work due to disability is a stressful time, not only physically but also emotionally. The uncertainty of the future, as for how to provide themselves and their family the support of living are some of the questions when they are confronted with a serious illness or injury. Find out about Social Security, supplemental security benefits, and disability at www.ssa.gov. (more…)

For purposes of budget income forecasting, figure all sources of your income on a monthly basis. Then, forecast your average monthly income over the next year by completing the worksheets shown bellow. (more…)

Taxes are an everyday expense of life that allow your local, state, and federal governments to provide important services. Taxes pay the bills for those services such as Medicare, Medicaid, the military, the national debt, police and fire protection, public schools, road maintenance, parks, libraries, and safety inspection of foods, drugs, and other products. (more…)

It’s always wise to carefully evaluate all of your options before making a financial decision. That’s especially true when it comes to bankruptcy because of the long-term consequences, and there are many options that people consider including reverse mortgages. What exactly is a reverse mortgage and is it a good idea for paying off your debt? (more…)

Why is it important you get your free annual credit report?

* to ensure you are protected from identity theft and fraud
* to help you attain the mortgage you need
* to insure you receive the lowest possible interest rate on a vehicle or consumer purchase
* to make sure a potential employer or landlord sees accurate information of how you handle money (more…)