Limited savings? Add an annuity to your retirement plan

Q: My husband and I are thinking about retirement. In many of your columns, you note multiple sources of income. Pensions are often provided for those working for someone else. What sources of income are available for middle-class people who are self-employed?

You also mention distributions from savings. Years ago, it was possible to leave money in the bank and make a 5 percent return on savings. You could even make more on money-market CDs. That is not possible today.

What is available for a middle-class family with savings under $100,000? — BK, Garland, Texas

A: A pension plan provides workers with a guaranteed lifetime income. People who are self-employed can achieve...

The 45-Minute Financial Literacy Workout For High School Seniors

This past spring I was asked to make a financial literacy presentation to a group of high school seniors that were going to college in the fall. In a survey the year before, seniors at this high school indicated that they wished they had received personal finance instruction prior to graduation.

During the last week of school, the students were scheduled to receive a variety of life skills seminars to help them survive in the real world and financial literacy instruction was on the program. How much time do I have to teach them personal finance? I asked. Forty-five minutes was the response. I decided to accept the challenge. Here is what I told the students:

Know Your Student...

VW to Delay or Cancel All Non-Essential Investments

Volkswagens Chief Executive Officer Matthias Mueller has announced the automaker will delay or cancel non-essential investments in an effort to cut costs following the company’s diesel emissions scandal. Bloombergs Guy Johnson reports on Bloomberg Surveillance. (Source: Bloomberg)

Mirae Asset Global Investments (USA) Announces 5-year Fund Track Records

The four funds noted above began trading on September 24, 2010 and were the first mutual funds launched by Mirae Asset USA. These funds utilize an investment process focused on identifying companies with sustainable competitive advantages through fundamental analysis, with a special focus on the secular theme of rising consumption in the emerging markets.

Five years ago, Mirae Asset USA expanded the options available to US fund investors with a truly differentiated product set, says Peter Graham, CEO of Mirae Asset USA. The Funds notable recognition from Morningstar reflects our commitment to providing US investors and advisors with the bottom-up, fundamental investment expertise...

Lenders feed our hunger for credit with new stand-out offers

Credit card companies are battling harder than ever to take advantage of what is currently a buoyant market. The surge in competition has ratcheted up a level in recent weeks, as shown by two new stand-out credit card offers.

Virgin Money launched a limited offer of 37 months interest free on balance transfers, with a one-off fee of 2.79 per cent. Youll need to hurry if youre interested: the card is only available until 30th September.

To put the size of the 0 per cent switching market into perspective, there were just over 6 million balance transfers, totalling more than £13.4bn, carried out in the 12 months to the end of July 2015. If each transfer was subject to an average...

The Biggest Reason Workers Don’t Save for Retirement

Why are only about half of American workers saving for retirement through their workplace? According to the Government Accountability Office, its largely because their employers do not offer savings plans like a 401(k).

Of all the workers who aren’t currently saving through their employer, 68% work for an employer that doesnt offer a plan and 16% are not eligible to participate in their workplace program. Only 16% could take part but choose not to, a GAO report released today found.

The report takes a step toward understanding why workplace retirement saving among American workers isn’t more widespread. It suggests that more people would take part in retirement...

4 Ways to Take Retirement Planning Into Your Own Hands

Most people will receive Social Security payments in retirement. A fortunate few will also receive public or private traditional pension payments. But you cant necessarily count on these sources to provide enough income to fund a comfortable retirement. Even if you will receive income from both, its a good idea to diversify your sources of retirement income.

Instead of counting on a pension or even Social Security benefits, you need to take more responsibility for your retirement planning. Your pension and Social Security benefits will likely still be there when you retire, but as many current retirees have learned, the benefits could be reduced or the cost of living increases may not keep...

Student loan debt competes with retirement savings

Photo: AP

Student debt or retirement savings? Whats a millennial to do?

Hit that debt first, apparently, with a range of new products that are designed specifically to tackle student loan debt and are competing for millennials dollar in the workplace.

Polls reveal that workers would rather work for employers who provide such programs.

College/Career Fair is Oct. 7 at Meadville high school

The 32nd Annual College/Career Fair is Oct. 7 from 6:30 to 8 pm in the gymnasium at Meadville Area Senior High School.

The program is open to the public and especially to students and parents who are interested in education beyond high school. There will be more than 90 representatives present from various colleges, career schools, trade and technical schools, business schools, nursing schools and military institutions. There will also be representatives from local and state financial aid organizations to help with questions regarding financing education.

AARP Pushes for State-Facilitated Retirement Savings Plan for Private Sector …

AARP has released the results of a survey showing that both Baby Boomers and people from Generation X face some major problems saving for retirement.

Statewide, 52 percent of all private sector workers surveyed said they did not have access to any kind of retirement savings plan through their employer.

Beth Finkel, state director of AARP in New York, said her organization is proposing a state-facilitated payroll-deduction retirement savings option that could work much like a 529 college savings plan.

She said the cost for employers would be nominal.

“For small businesses, most of the costs are in the automatic payroll deduction and if they’re already...