Category Archives: Retirement

Crushing Credit Card Debt Causing More Workers to Postpone Retirement

Traditionally, the stereotype of a consumer with too much credit card debt has involved a young person – perhaps a recent college graduate with student loans or a young couple with a mortgage. But new data suggests that older Americans are struggling just as much – and sometimes more – than their children and grandchildren…. Read More »

Credit Card Debt Making Retirement Savings Impossible for Growing Number of Americans

Americans are scrambling to find money to pay the bills – and for some, that now means dipping into retirement savings. According to a new study by HelloWallet, one in four consumers have raided a 401k to help cover a mortgage or credit card payment. But while cashing in that IRA early may seem like… Read More »

Why More Senior Citizens Are Filing For Bankruptcy In Retirement

I always thought senior citizens spent their retirement golfing and gardening. Turns out they spend it much like the rest of us – stressing over how to pay growing bills. Since the recession began, the number of senior citizens filing for bankruptcy has skyrocketed. Expensive prescriptions, decreasing home values and stock market crashes have left… Read More »

Why More Elderly Americans Are Passing Debt On To Their Families

I always thought of Grandma as the penny-pinching, coupon-clipping type. So I was more than a little surprised when, after she passed away, we learned that she’d left Grandpa with thousands of dollars in debt. Sadly, it’s becoming an even more common scenario in today’s economy. Rising healthcare costs and medication prices coupled with dwindling… Read More »

How Chicago Savers Can End Up With One Million Dollars in Retirement Savings

Once upon a time, having a million dollars when you retired meant you were rich. Nowadays, it merely means you’re financially secure – if you manage your money responsibly. But while a million bucks doesn’t stretch quite as far – or buy as much luxury – as it did in our parents’ day, the good… Read More »