Good time to buy?
There are many times throughout the year to buy certain items, or to check on things that might save you money! The Spring is a good time to buy a refrigerator, since that is when new models come out and manufacturers are trying to get rid of old models The Fall is a good time… Read More »
Credit Score News
The Columbus Dispatch reported significant errors of credit agencies combining the credit history of other people, usually family members or others with similar names, that have bad credit. Bad credit and other bad information on the reports prevents people from obtaining all sorts of loans, such as for cars or from their home equity. Bad credit… Read More »
Homeonwership Rate Falls to 15-Year Low
Monday the Census Bureau announced that the percentage of people owning homes fell to the lowest level in 15 years to 65.4%, after peaking at almost 70% in 2004.
Personal Savings Rate Decreases
Source: Wall Street Journal The U.S. personal savings rate has been decreasing this year. Looking back at 2011, it has been steadily decreasing from 5.2% in January to 4.30% in September, but it began to increase by the end of the year to 4.70%. Although March showed a slight increase to 3.80%, the overall savings rate is not good… Read More »
New Short-Sale Rules
Source: Kenneth Harvey LA Times A real estate short-sale occurs when someone sells their home for less than they owe the bank. People considering them are trying to get out of a mortgage payment they can’t afford, usually caused by unemployment, health care bills, divorce, or over use of debt related to these circumstances or not. … Read More »
Social Security Will Go Broke in 21 years
Source: Wall Street Journal 4/24/12 Reported yesterday that earlier estimates were 24 years, but now 21 years. If reserves for disability benefits were combined with retirement, reserves would be exhausted by 2033. Social Security and Medicare account for 1/3 of the federal budget. If the trust funds are not replenished, then benefits would be reduced by 25%. Everyone should… Read More »
Delaying Social Security Retirement Income
Interesting article in the Wall Street Journal comparing delaying taking early retirement income benefits (age 62) to Full Retirement Age (FRA) or age 70. Several articles recently have covered this topic from the perspective of the benefits delay in the first stage increases them about 6% and then 8% for the second delay (from FRA… Read More »
The History of Retirement, From Early Man to A.A.R.P.
Great Article I stumbled upon about the History of Retirement from the New York Times. Excerpts: IN THE BEGINNING In the beginning, there was no retirement. There were no old people. In the Stone Age, everyone was fully employed until age 20, by which time nearly everyone was dead, usually of unnatural causes. Any early… Read More »
Ohio Unemployment Compensation New Guideline
The Ohio Department of Jobs and Family Services (ODJFS) is notifying current and past recipients of unemployment compensation, the regular requirement to apply for 2 jobs per week is staying the same, except that recipients of unemployment compensation must keep a written record of actions taken including employer’s name and address, method of applying for work, type… Read More »
Austerity- Rarely Used, but Great Word
Merriam-Webster named Austerity as the word of the year in 2010, but these days it isn’t a word we use often. Dictionary.com defines it as 1. austere quality; severity of manner, life, etc.; sternness. 2. Usually, austerities. ascetic practices: austerities of monastery life. 3. strict economy. I like the definition of Financial Austerity from Wikipedia: is a… Read More »
