Many older 401(k) account holders, including Baby Boomers close to retirement age, had stock allocations higher than those recommended for their age group, Fidelity found.
Rising tuition costs are leaving them with an average of $35,000 in debt, which is roughly twice the debt of previous generations.
Twenty-seven percent chose real estate, followed by 23 who said cash and 17 percent who selected the stock market.
The “bottom 99% incomes grew by 3.3% from 2013 to 2014, the best annual growth rate since 1999.”
As a result of Friday’s history Supreme Court decision recognizing same-sex marriages, equality means these couples nationwide can be eligible for the same Social Security spousal and survivor benefits previously only available to heterosexual married couples.
According to a survey taken this month, only 22 percent said they had enough to pay for at least six months of expenses.
Although the vast majority of couples (72 percent) say they communicate exceptionally or very well when it comes to financial matters, more than four in 10 (43 percent — up from 27 percent in 2013) couldn’t correctly identify how much their partner makes.
Some foreign countries no longer have an exchange rate quite as favorable with the U.S. dollar, and now condo developers have realized that they might have to start marketing their properties to Americans.
Among those with some retirement savings (the remaining 48 percent), the median amount of those savings is about $104,000 for households age 55-64 and $148,000 for households age 65-74.
In the 1994 film classic Forrest Gump, Tom Hanks’ character famously narrates how his partner, Lt. Dan, invested his shrimping-boat business money in “some kind of fruit company.”