December 27, 2004 07:04 AM
What You Need To Know About Personal Savings Accounts
Excerpt: Following the news on Social Security? Here's why you should: There's a proposal to make you responsible for investing some of your own Social Security dollars. And the outcome could have a big impact on your retirement.
Following the news on Social Security? Here's why you should: There's a proposal to make you responsible for investing some of your own Social Security dollars. And the outcome could have a big impact on your retirement.
Financial experts would like to see more concrete details on how the plan would work, with assurance of safeguards to prevent losses due to bad picks or a down market and plenty of investor education.
"The devil's in the details," says Roger Hickey, director of the New Century Alliance for Social Security, a consortium of large organizations fighting against the privatization of Social Security. "The public generally likes the idea of private accounts. It seems to them that it's something for nothing. When you start talking to them about losing a guaranteed benefit, they suddenly turn very negative."
Eric Tyson, author of "Investing for Dummies," thinks that the individual investment idea has an upside. "If people are reasonably competent investors, they should be able to produce more money in the long term for themselves," he says. "The return from contributions is far less than investing in the stock or bond market.
"The big potential downside is that people could do a lousy job investing their money, as some investors are prone to do."
READ FULL STORY ...
Model Reveals Social Insecurity (December 27, 2004)
Until recently, few people aside from federal employees and members of the military had ever heard of the Thrift Savings Plan, the government's version of a 401(k) retirement program. Now, it is being touted as a model for the private investment accounts that are central ...
Want to Retire Early, It May Take Some Work (December 27, 2004)
LYDIA POSNER was not considering retirement last year when Verizon offered her a buyout package. "I always felt like I would work forever, so this was a very emotional decision for me," said Mrs. Posner, who was employed as a technical writer. "I drove my ...
Going The Distance (December 26, 2004)
People expecting to retire in 10 years are frequently behind the eight ball. Few, say surveys and pundits, have saved enough money to kick back in 2015 and enjoy a life of leisure. But you don't have to be a procrastinator, sprinting to retirement and ...
Future Retirees To Lose Health Coverage (December 26, 2004)
Despite absorbing three straight years of double-digit increases in retiree health-care costs, more than half of employers that offer retiree health and drug coverage plan to keep it when the Medicare prescription drug benefit begins in 2006, according to a survey released Tuesday. This year's ...
Read all 52 posts in the same category of Retirement:
Avoiding Confusion With IRA Rollovers -
Feb 19, 2005
Greenspan Backs Idea of Accounts for Retirement - Feb 18, 2005
Greenspan Sees Medicare Crunch - Feb 17, 2005
Bush Seeking Help For Overhaul - Feb 13, 2005
Social Security Plan Hinges on the Peg - Feb 13, 2005
Americans Worry About Saving - Feb 10, 2005
Online Calculators Test Social Security Scenarios - Feb 10, 2005
Retirement Turns Into a Rest Stop as Benefits Dwindle - Feb 10, 2005
Automatic 401(k) Enrollments May Lasso Lackadaisical Savers - Feb 04, 2005
Taking the Wheel Before a Pension Runs Into Trouble - Jan 31, 2005
Taking Time Off - Jan 25, 2005
Planning Your Retirement Online - Jan 23, 2005
A Hole In Krispy Kreme's Balance Sheet? - Jan 15, 2005
Five Keepers - Jan 15, 2005
Are Spendthrift Americans Really the Problem? - Jan 09, 2005
White House Memo Argues for Social Security Cuts - Jan 05, 2005
The Other Retirement Crisis - Dec 29, 2004
If You Didn't Save 10% of Your Income This Year, You're Spending Too Much - Dec 27, 2004
Model Reveals Social Insecurity - Dec 27, 2004
Want to Retire Early, It May Take Some Work - Dec 27, 2004
Going The Distance - Dec 26, 2004
Future Retirees To Lose Health Coverage - Dec 26, 2004
The Gift Of Financial Stability - Dec 26, 2004
Model Reveals Social Insecurity - Dec 21, 2004
Banks Stay Calm On Social Security - Dec 21, 2004
Six Ways to Sleep Better in Retirement - Dec 19, 2004
Social Security: Five Burning Questions - Dec 19, 2004
Bush: Start Bow On Social Security - Dec 18, 2004
Bush Says Social Security Plan Would Reassure Markets - Dec 17, 2004
Are You Ready To Retire? - Dec 13, 2004
Last-Minute Retirement Planning - Dec 12, 2004
Small Change Adds Up To Big Savings - Dec 09, 2004
Bush To Borrow To Fix Social Security - Dec 07, 2004
Moving Smoothly Into Retirement - Dec 07, 2004
Get Healthy, Get Wealthy - Dec 06, 2004
Five Books to Retire By - Dec 05, 2004
Tax Policy Promotes Early Retirement - Dec 02, 2004
Fidelity Analyzes Pension Performance - Dec 02, 2004
Social Security COLA Increase Looks Puny - Dec 02, 2004
No More IRA Leniency - Nov 29, 2004
To Yield A Good Retirement, Get Real, And Work It Out - Nov 28, 2004
Social Security Reforms On The Way? - Nov 26, 2004
Some New Ways To Preserve Your Retirement - Nov 23, 2004
Living Trust Offers: How to Make Sure They're Trust-Worthy - Nov 22, 2004
How to Forecast a Lifespan - Nov 21, 2004
Be Happy, And Put Retirement Fears to Rest - Nov 21, 2004
Seven Ways to Stop Saying 'Oops!' - Nov 21, 2004
Retirees Don't Have to Be So Frugal: A Case for Withdrawing Up to 6% a Year - Nov 17, 2004
How to Avoid Living Like a Poor Student at Age 70 - Nov 09, 2004
What Social Security Might Look Like - Nov 09, 2004
Are You Retirement Ready -- Or Not? - Nov 03, 2004
Greenspan Backs Idea of Accounts for Retirement - Feb 18, 2005
Greenspan Sees Medicare Crunch - Feb 17, 2005
Bush Seeking Help For Overhaul - Feb 13, 2005
Social Security Plan Hinges on the Peg - Feb 13, 2005
Americans Worry About Saving - Feb 10, 2005
Online Calculators Test Social Security Scenarios - Feb 10, 2005
Retirement Turns Into a Rest Stop as Benefits Dwindle - Feb 10, 2005
Automatic 401(k) Enrollments May Lasso Lackadaisical Savers - Feb 04, 2005
Taking the Wheel Before a Pension Runs Into Trouble - Jan 31, 2005
Taking Time Off - Jan 25, 2005
Planning Your Retirement Online - Jan 23, 2005
A Hole In Krispy Kreme's Balance Sheet? - Jan 15, 2005
Five Keepers - Jan 15, 2005
Are Spendthrift Americans Really the Problem? - Jan 09, 2005
White House Memo Argues for Social Security Cuts - Jan 05, 2005
The Other Retirement Crisis - Dec 29, 2004
If You Didn't Save 10% of Your Income This Year, You're Spending Too Much - Dec 27, 2004
Model Reveals Social Insecurity - Dec 27, 2004
Want to Retire Early, It May Take Some Work - Dec 27, 2004
Going The Distance - Dec 26, 2004
Future Retirees To Lose Health Coverage - Dec 26, 2004
The Gift Of Financial Stability - Dec 26, 2004
Model Reveals Social Insecurity - Dec 21, 2004
Banks Stay Calm On Social Security - Dec 21, 2004
Six Ways to Sleep Better in Retirement - Dec 19, 2004
Social Security: Five Burning Questions - Dec 19, 2004
Bush: Start Bow On Social Security - Dec 18, 2004
Bush Says Social Security Plan Would Reassure Markets - Dec 17, 2004
Are You Ready To Retire? - Dec 13, 2004
Last-Minute Retirement Planning - Dec 12, 2004
Small Change Adds Up To Big Savings - Dec 09, 2004
Bush To Borrow To Fix Social Security - Dec 07, 2004
Moving Smoothly Into Retirement - Dec 07, 2004
Get Healthy, Get Wealthy - Dec 06, 2004
Five Books to Retire By - Dec 05, 2004
Tax Policy Promotes Early Retirement - Dec 02, 2004
Fidelity Analyzes Pension Performance - Dec 02, 2004
Social Security COLA Increase Looks Puny - Dec 02, 2004
No More IRA Leniency - Nov 29, 2004
To Yield A Good Retirement, Get Real, And Work It Out - Nov 28, 2004
Social Security Reforms On The Way? - Nov 26, 2004
Some New Ways To Preserve Your Retirement - Nov 23, 2004
Living Trust Offers: How to Make Sure They're Trust-Worthy - Nov 22, 2004
How to Forecast a Lifespan - Nov 21, 2004
Be Happy, And Put Retirement Fears to Rest - Nov 21, 2004
Seven Ways to Stop Saying 'Oops!' - Nov 21, 2004
Retirees Don't Have to Be So Frugal: A Case for Withdrawing Up to 6% a Year - Nov 17, 2004
How to Avoid Living Like a Poor Student at Age 70 - Nov 09, 2004
What Social Security Might Look Like - Nov 09, 2004
Are You Retirement Ready -- Or Not? - Nov 03, 2004
Related Sites
• Structured Settlements
www.setcap.com - cash for structured settlements, sell annuity, lottery winnings, and more.
• Personal Finance: Finance News Today provides money saving tips, news, and articles on personal finance issues like insurance, real estate, college planning and much more.
• Compare all our 0% Credit Card UK against our 0% balance transfers and cash back deals.
• Browse through our Credit Cards deals and apply online.
• financial tip - financial tips article and more.
• Arizona llc - incorporate a arizona llc. they offer solutions for limited liability company asset protection in arizona and california. incorporation services are provided online with 24 hour filings and expedited approvals. www.paralegal-plus.com for cpa lawyers.
• Credit Repair
repairmycreditnow.com/Credit_Repair_Advice.htm - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process ™.
• Citibank Home Equity Lines of Credit: Rates as low as Prime - 0.50% variable APR for Life, currently 5.50% variable APR.
• Day Trading - day trading signals for active stock and options traders.
• Ken Langone - ken langone: make my day
• Credit Repair - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process ™
• Online Option Trading - oexoptions is an oex online stock option trading company offering a free 15-day trial for all new customers.
• fix bad credit
Want to See Your Ads Here? Claim Your Ad Space at Personal Finance Weblog by Writing to Webmaster. Starting at $25/month, see your text ads in more than 2,000 indexed pages at PFBlog, the Best Personal Finance Blog, or MM Money, MM's Daily Personal Finance Readings. Full Rate Card Available Here.
• Structured Settlements
www.setcap.com - cash for structured settlements, sell annuity, lottery winnings, and more.
• Personal Finance: Finance News Today provides money saving tips, news, and articles on personal finance issues like insurance, real estate, college planning and much more.
• Compare all our 0% Credit Card UK against our 0% balance transfers and cash back deals.
• Browse through our Credit Cards deals and apply online.
• financial tip - financial tips article and more.
• Arizona llc - incorporate a arizona llc. they offer solutions for limited liability company asset protection in arizona and california. incorporation services are provided online with 24 hour filings and expedited approvals. www.paralegal-plus.com for cpa lawyers.
• Credit Repair
repairmycreditnow.com/Credit_Repair_Advice.htm - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process ™.
• Citibank Home Equity Lines of Credit: Rates as low as Prime - 0.50% variable APR for Life, currently 5.50% variable APR.
• Day Trading - day trading signals for active stock and options traders.
• Ken Langone - ken langone: make my day
• Credit Repair - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process ™
• Online Option Trading - oexoptions is an oex online stock option trading company offering a free 15-day trial for all new customers.
• fix bad credit
Want to See Your Ads Here? Claim Your Ad Space at Personal Finance Weblog by Writing to Webmaster. Starting at $25/month, see your text ads in more than 2,000 indexed pages at PFBlog, the Best Personal Finance Blog, or MM Money, MM's Daily Personal Finance Readings. Full Rate Card Available Here.
