About 25% of respondents across four age groups between 40 and 61 have no retirement savings at all—a situation that becomes worse among those 62 to 66 years old, according to research from the Insured Retirement Institute, a financial services trade association for the retirement income industry. Among the 62-66 cohort, the percentage without savings increases to 33%, the research showed. People 67 to 73 do a little better, with only about one in five lacking savings....

Expanding federal college grants to “Dreamers” (immigrants living in the U.S. who arrived as minors, but without official authorization) was another BBB initiative that failed to top the 50% threshold in our survey, though it was more popular than student loan forgiveness. Nearly half of respondents (47%) said they still back the idea of giving college grants to Dreamers, so called because they are people who would benefit from the DREAM Act (the Development, Relief and Education for Alien Minors Act), which would allow immigrants brought into the U....

Acronym: NORC How a Naturally Occurring Retirement Community Works The population of American adults aged 65 or older is expected to rise to 70 million by 2030. The growth of this population, coupled with an increasing number of older adults who want to “age in place” or remain in their homes as they age, has led to the dramatic growth of NORCs in locations around the country, particularly in cities. A naturally occurring retirement community is a middle ground between independent living and living in a long-term care facility in the sense that the community of older residents forms organically, but NORC programs funded jointly by government agencies and private organizations allow services and activities for older adults to be offered on-site....

A slowdown in GDP, a measure of the economy’s total economic output, would indicate the economy is getting closer to a recession, economists said. The risk of recession—and the job losses that typically come with it—have mounted recently as the Federal Reserve embarked on a campaign to fight inflation by hiking its benchmark interest rate, aiming to slow economic activity and give supply and demand some breathing room to rebalance....

There are plenty of businesses that lend themselves to these kinds of temporary occupancy. You many notice an H&R Block store suddenly pop-up two to three months in advance of tax day. But accountants aren’t the only ones in need of temporary retail space. Holiday shops, mobile art exhibits, start-up designers, and well-known retailers with excessive merchandise also want to operate pop-up shops. Sharp Marketers Use Pop-Ups to Sell Their Wares Some sharp marketers who have new products, or a completely new business, will also lease short-term space specifically to test their products or new business concept to determine if it will, in fact, sell in a particular market, or city....

The receiving generations, too, have ideas on how an inheritance should be spent. And since they may still be in the early phases of their careers and their own accumulation of wealth, they might not have enough experience in the guardianship of significant sums, which sets up the possibility of conflict. Learn how families can avoid these obstacles and prepare for a successful transfer of wealth. The Great Wealth Transfer As the Baby Boomer generation ages, America is poised for the greatest wealth transfer period in its history....

The Wednesday report—viewed by some as a leading indicator of what the government’s monthly jobs report (coming Friday) might say—showed private sector employment increased by 174,000 in January on a seasonally-adjusted basis. That’s nearly four times greater than the 44,500 median estimate of economists polled by Moody’s Analytics. The report, created by the research arm of payroll company ADP, is often relied on as somewhat of a predictor for what the Bureau of Labor Statistics will report, though it doesn’t reflect government payrolls and is estimated differently....

Pros and Cons of Buying a Rental Home in a Retirement Community Pros of Investing in a Retirement Home Rental People retire every day, and they’re looking for the ideal place to spend their leisure years. There are several positives to buying a retirement home as an investment property. Desirable Area and Amenities The first perk of investing in an over 55 community is that the property is usually in a nice area—near the beach, in a warm climate, or somewhere else that is usually desirable....

Fannie Mae is a government-sponsored enterprise (GSE) that was created as part of the New Deal in 1938 to increase the availability of affordable housing. Fannie Mae is the short name for the Federal National Mortgage Association (FNMA). Rather than lend money directly to the consumer, Fannie Mae buys loans from other lenders, allowing them to lend money to more people. Loans bought by Fannie Mae have helped millions of people in the U....

Many candidates seeking employment ignore smaller employers and focus their efforts on larger firms. Find out why this can be a mistake, the benefits of seeking employment with small companies, the pros and cons of working for smaller organizations, and how to find small companies with job openings. The Benefits of Small Companies Small firms may be in a better position to hire you, and there are more of them....

Leslie Tayne, financial attorney and author of “Life & Debt: A Fresh Approach to Achieving Financial Wellness,” said, “Credit report errors are extremely common. The more negative or misinformation you remove from your credit reports, the healthier your credit score will become.” Tayne has more than 20 years of experience as a New York-based debt-relief lawyer and is the founder and managing director of Tayne Law Group. We asked her to break down what consumers should know about credit repair, the professionals who offer credit repair services, and maintaining a strong, accurate credit report long term....

Many factors influence the days a property remains on the market. Economic factors, competition, and showing criteria are some of the elements. Many real estate agents use a tactic called “relisting” to make homes with higher days on the market appear more attractive to buyers. Average Days on Market Many agents will refer to DOM as “average days on market,” a number that’s arrived at by adding all the days on the market of each listing and dividing that by the number of listings....

If you’re considering a home equity loan or HELOC for an upcoming expense, it’s important to understand the requirements, including whether you’re eligible and how much you can borrow. We’ll dive into all of that and more in this guide. Equity Requirements “Equity” refers to the amount of ownership you have in your home or the difference between your property’s value and the amount you still owe on a mortgage or other secured debt....

A written resignation letter lets you spell out the terms of your departure in writing, so that there’s no confusion. It’s also an opportunity to thank your boss for the opportunity and to establish a positive last impression. You never know when you might need your former manager as a reference for a future job. Not sure what to write? Here’s a resignation letter template that provides all the information you need to include, as well as tips on how to write a letter that will help you leave on a good note....

There are three main retirement withdrawal strategies to consider, and each has many variations. Using the right approach for your situation can result in tax savings. A customized approach can save thousands in taxes over a 30-year retirement for many retirees. Conventional Strategy The conventional withdrawal strategy involves using non-retirement account savings and investments to support living expenses while waiting to withdraw from IRAs until age 72, when required minimum distributions begin....

Proper planning is essential to creating financial retirement security. But according to a September 2019 “GoBankingRates.com” survey, 64% of Americans risk reaching retirement age with less than $10,000 saved. The same survey found that nearly half of Americans polled had no money set aside for their later years right now. Take Stock of Your Retirement Assets Creating a retirement plan requires first carefully evaluating your existing assets, including cash savings, employer pension funds, annuities, and retirement accounts like 401(k)s or individual retirement accounts....

They differ in their main purposes, how they have been created, and the cost and time needed to make a transaction. Learn more about how Ripple and Bitcoin compare. What Is Ripple (XRP)? XRP is a currency that’s now mostly used by Ripple to make payments between banks in different government-issued currencies. In 2011, three engineers named David Schwartz, Jed McCaleb, and Arthur Britto set out to create an alternative to Bitcoin....

A thrift savings plan is a retirement plan for federal employees and members of the uniformed services. Each year, you can contribute up to the annual limit, and earnings accumulate over time. Certain agency employers also match your contributions up to a specified limit. Better yet, you can borrow against your loan balance. This isn’t always a good idea, however. Let’s take a look at how it works and how to decide whether it’s a good move....

But does that same logic apply when you are renting a truck such as a U-Haul? Unfortunately, it does not. Before you rent a moving truck and stick all your stuff inside, it pays to know your rental truck insurance coverage options. How Do I Know if I Need Rental Truck Insurance? The first thing you should do, well before you are in the U-Haul parking lot, is check with your car insurance agent....

Tax Laws in 2022 If you’ve hired professionals to do your taxes for the past few years but you want to DIY it this year, know that the Tax Cuts and Jobs Act (TCJA) made some sweeping changes to the tax code when it went into effect in 2018. Standard deductions more or less doubled under the TCJA, which made itemizing less attractive for taxpayers who chose that route in the past, particularly because changes were made to quite a few itemized deductions as well....