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retirement planning

Report: Social Security disability fund to run dry next year

WASHINGTON (AP) — The 11 million Americans who receive Social Security disability face steep benefit cuts next year, the government said Wednesday, handing lawmakers a fiscal and political crisis in the middle of a presidential campaign. The trustees who oversee Social Security and Medicare said the disability trust fund will …

More older Americans are being buried by housing debt

WASHINGTON (AP) — Al and Saundra Karp have found an unconventional way to raise money and help save their Miami-area home from foreclosure: They’re lining up gigs for their family jazz band. They enjoy performing. But it isn’t exactly how Al, an 86-year-old Korean War vet, or Saundra, 76, had …

Financial tips for same-sex couples

NEW YORK (AP) — Gay and lesbian individuals are less prepared financially for retirement than their straight counterparts, according to an exclusive analysis by The Associated Press-NORC Center for Public Affairs Research. LGBT adults are likely to have less in retirement savings and have less access to Social Security benefits …

High fees eroding many 401(k) retirement accounts

WASHINGTON (AP) — It’s the silent enemy in our retirement accounts: High fees. And now a new study finds that the typical 401(k) fees — adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker’s account over a four-decade career compared with lower-cost …

AP IMPACT: The world braces for retirement crisis

A global retirement crisis is bearing down on workers of all ages. Spawned years before the Great Recession and the 2008 financial meltdown, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching. Many people will be forced to …