A successful, prosperous retirement is a common goal for most of us, but it's remarkably easy to wreck your golden years if you're not being careful. Here are three steps you could be taking right now to ruin your retirement.
Blame the government or blame the economy, but Americans should also blame themselves for their declining net worth. We waste over half a trillion dollars each year -- and that's just for areas with available data. And what do we waste that money on? Read on ...
The government's Great Recession bailouts are one of the hot topics of debate this election. But let's skip the rhetoric and run the numbers. If you think you know the facts about the bailouts, or if you're just curious, take a peek at our bailout quiz.
To most of us, "debtors' prison" may sound like something straight out of a Dickens novel. But across the country today, predatory lenders are using a legal loophole to manipulate courts into jailing poor citizens who legitimately cannot pay what they owe.
According to a new CareerBuilder survey, 40% of Americans say they are living paycheck to paycheck -- and if that sounds rough, it's an improvement from a 2008 peak of 46%. Here's a great infographic on what that means for our personal finances.
"Too much of a good thing can be wonderful," said film star Mae West. But what about too much credit? Is having a lot of credit a wonderful thing as well?
Dewey & LeBoeuf was one of the world's great law firms, with 1,300 attorneys on five continents and revenues in excess of $900 million a year. This makes its bankruptcy quite simply the largest law-firm failure ever. So how did it manage to go broke?
Even as total outstanding student debt rises to $1 trillion, lawmakers have yet to allow loans to be discharged in bankruptcy. Without an escape clause, these loans can strangle a person. Take 36-year-old Nick Keith, who remains $142,000 eight years after graduating from culinary school.
Last week, a Reddit user posted a photo of a $114,000 student loan bill-paid in cash-that elicited thousands of comments. Since then, the anonymous alum has stepped forward as Alex Kenjeev, a 2009 law school graduate of the University of Toronto.
When he left the priesthood in 2001, he was deep in credit card debt. He dug himself out eventually, but looking back he marvels at how easy it was to get into such a desperate situation.
Two new surveys suggest that financial optimism is on the rise. But even with the improving numbers, among average Americans, those who are upbeat about their personal finances are outnumbered by the pessimists, and we're still wary of buying stocks.
Surging above $1 trillion, U.S. student loan debt has surpassed credit card and auto-loan debt. This debt explosion jeopardizes the fragile recovery, increases the burden on taxpayers and possibly sets the stage for a new economic crisis.
Today show financial editor Jean Chatzky -- author of DailyFinance's "Family Money" column -- has a new book titled Money Rules: The Simple Path to Lifelong Security. On Wednesday, she spoke with Matt Lauer, explaining the easy principles she recommends.
Concerns about job security and piles of debt have left American workers more pessimistic about retirement than ever. And many should be concerned: About 60% report total savings and investments of under $25,000 (excluding the value of their home and defined benefit plans.)
More students and parents are approaching higher education like any other big investment, researching schools' relative merits and the values of their diplomas so they can make informed decisions. Trouble is, the data can be hard to find -- and what's available isn't always trustworthy. Should Washington step in?