Despite a recent report from the Investment Company Institute showing that retirement assets rose to $18.1 trillion at the end of the first quarter, up 3% from the end of 2010 and nearly 10% year over year, small business owners are fearful for their retirement plans.
Americans are definitely starting to give more importance to savings because they are allocating bigger portions of household income for retirement than they have in the past. According to the report, retirement savings accounted for 37 percent of all household financial assets by the end of the first quarter. Thats a ten percent raise from two decades ago when only 27 percent of household assets were put toward retirement.
Nevertheless, small business owners have shown concern over whether they will be able to gather enough funds to retire even though many have formed businesses around something they love.
According to a December 2010 study from The Guardian Life Small Business Research Institute, as a group, the owners greatest fear is that they will outlive their retirement fund.
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The Regular Shares Savings Account from Members Choice WV Credit Union is offering a 1.15% APY. This high interest savings account rate is available to members of the credit union only.
This is a tiered savings account rate that provides interest based on the amount of money on balance. Currently, the above rate is available to those who save on the accounts highest tier. Opening this account requires a $25 minimum deposit, but to take advantage of this rate, you will need to maintain a balance of $10,000 to $19,999.
Members Choice WV Credit Union was chartered in 1942 as a credit union for railroad employees. In July 1997, the name was officially changed from CONRAIL Credit Union to its current name. It serves over sixty employer groups in Charleston, West Virginia and recently received a Community Charter that allowed it to expand its field of membership to more groups.
We never tend to think that something as fun-filled as 4th of July fireworks displays are ever tied to something as serious as the U.S. economy. But as this Independence Day approaches, many people in cities throughout the country will be stunned by silence and colorless skies as economic pressures in the U.S. impact their abilities to pay the expensive costs for fireworks.
China Ties to United States Fireworks (or Lack Thereof)
As we sit on our lawns or head to a fair to watch fireworks displays, we rarely think about Fourth of July facts such as the location that these fireworks are produced. And when we do think about it, we probably just assume they were manufactured in the United States and kick back to enjoy the show.
Over 30 years ago, this assumption would have been true. But within the past few decades, the U.S.
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As the anniversary of America’s independence approaches, ING Direct invites customers to embrace for financial independence with special offers.
ING Direct is back with its limited, two-day Financial Independence Days Sale that includes six deals only available from July 1 to July 2.
So before you head out to enjoy the nice weather on a long July 4 weekend, take a peek at some of ING Direct’s deals that could put more money in your pockets.
1. Open an Electric Orange checking account and receive a $50 bonus after making a total of 3 purchases using your debit card or Person2Person Payments (or any combination of the two) within 45 days. Plu
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After being downgraded by credit ratings agency Moody’s Investor Services last week, the major Australia banks may find themselves the target of short selling by global hedge fund managers.
Influential analyst Charlie Aitken of Southern Cross Equities said “While just about everyone, including the banks themselves, dismissed Moody’s downgrade, I would suggest it is significant and may well trigger global hedge funds shorting the big four banks, particularly now that all but NAB are ex-dividend.”
Last week Moody’s downgraded the long term senior unsecured debt of the big four Australian lenders from Aa1 to Aa2 on concerns by the ratings agency of the lenders dependence on wholesale funding markets.
As the Australian economy becomes increasingly skewed around the commodity boom that have produced favourable terms of trade and high asset prices “there is a potential for confidence shocks to impact the banks’ access to funding”, Moody’s said.
Of the major lenders, according to Mr. Aitken We
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With Father’s Day coming up, I thought it would be nice to reflect on what it means to be a great financial father.
I’m still a young father. I have 2 little girls (a 2 year old and a 3 month old) but I’ve learned a thing or two about what’s important, and I had a great example in my Father.
Please help add to the list by leaving your comment below with your awesome tip for how to be a great financial father.
Your kids are currently able to live their stress-free life because of your paycheck, business income, etc. If you aren’t there to earn that money, then their world isn’t as stress-free. Not only will they not have a Dad, they’ll now have a Mom who’s left with the burden of your debts, and forced to work to get by.
For this reason, life insurance is key for any new (or older) Dad. Term life insurance is likely all you need. It’s cheap and simple to set up. Go get it, Dads.
If you ha
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What interest rate do you pay on your credit card? If you know, then I have a follow-up question: At what age is someone expected to know that?
While credit cards are an extremely powerful spending tool, consumers, especially college students, may be irresponsible with their credit, carry high balances, and pay only the minimum amount on their cards. Colleges, parents, and public policy makers must work together to drive down student consumer debt.
In recent years, college students have become a target for credit card companies, which can be problematic for these young adults. According to the Journal of Consumer Affairs, it is estimated that 91% of college seniors have at least one credit card and 56% carry four or more cards. Furthermore, according to some studies including the Consumer Federation of America, the average college student will graduate with more than $2,800 in credit card debt and up to one-?fth carry a credit card debt of $10,000 or more.
With financial literacy and transparency gaining such importance, how can the universities not take responsibility to teach this to their students? Pare
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