People often transition smoothly into retirement and enjoy their new lives right away. However, some people have a more difficult time settling into retirement than their peers. It’s even possible that some of us will delay or put off retirement entirely to overcome our fear of uncertainty. Regardless of how you feel about retirement, here…
Annuities for Dummies
About a month ago I booked a flight to see one of my best friends. Considering that we’re still dealing with COVID-19, I decided to to purchase travel insurance. And, good thing I did. A couple of days before I was to take off, my friend and his family all tested positive. Thankfully, I was…
The War on Savers Rages On—Even as Rates Rise
Commentary The Fed is about to embark on an epic quest. Like Siegfried’s battle to slay Fafner, the Federal Reserve is about to enter an epic battle with the inflation dragon. The big questions the market has been dealing with are “how many” and “how much”—as in how many increases will they have to make…
Money and Savings Are Not the Same Thing
Commentary In the National Income and Product Accounts (NIPA), savings are established as the difference between disposable money income and monetary outlays. Disposable income is defined as the summation of all personal money income less tax payments to the government. Personal income includes wages and salaries, transfer payments, income from interest and dividends, and rental…
Terminally Ill Teen Donates Life Savings of $1,350 and Raises Funds for Boy, 6, to Beat Cancer
A terminally ill teen with only months to live has donated 1,000 pounds (approx. US$1,350) from his savings to a 6-year-old cancer-stricken boy whom he has never met. In addition to that, he has also helped raise a further 59,000 pounds (approx. US$80,000) for him. Rhys Langford, 19, was diagnosed in October 2020 with osteosarcoma—a…
OCTA to Save $482 Million on I-405 Improvement Project
October 25, 2021
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The Orange County Transportation Authority (OCTA) announced Oct. 25 a savings of $482 million on the Interstate 405 improvement project through debt service savings, a large help on the $2.1 billion project. “I’m proud of OCTA for being proactive in taking advantage of low-interest rates to help save millions of dollars for our taxpayers,” OCTA…
Personal Finance Dilemma: Should I Save My Money or Pay Off My Debt First?
You’ve made a little extra money with your last paycheck and have some leftover after paying for your mortgage or rent, plus any other necessary bills. Rather than spending the money frivolously, you want to stash it in a savings account or use it to knock out some of the debt that’s been weighing heavily…
Richest Canadians Biggest Beneficiaries of Pandemic Spending
Despite large amounts of government assistance during the pandemic, Canadians borrowed more than they saved in 2020, according to Statistics Canada, while an economic analyst says some of the government’s pandemic aid wasn’t well targeted and went to high-income households that didn’t need it. The richest quintile of households, or the top fifth, saved $186.61…
3 Retirement Savings Options for the Self-Employed
Being self-employed means you don’t have the same benefits as those who work at a regular job. There is no sick pay or vacation pay, for instance. Neither is there a health insurance package, annuity insurance, life insurance, disability insurance, or flexible medical and childcare accounts. But there is one other key difference between working…
Brits Ramped Up Savings in 2021 Lockdown, Data Show
Brits squirrelled away their wages, profits, and pandemic handouts during this year’s spring lockdown, taking household savings to near-record levels, according to official figures. The data from the Office for National Statistics also show that GDP contracted during that first quarter of the year by more than expected, dropping by 1.6 percent compared with the previous…
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