HOT TOPIC: Could High Oil and Gas Prices Derail the Recovery?
Gas prices began the year higher than normal and increased sharply. The forecast is for prices to rise to record highs by summer. But it’s not just drivers who are feeling pain at the pump. This article will explain some possible reasons why gas prices have been rising and discuss the potential implications for consumers, businesses, and the broader U.S. economy.
Rethinking the Role of Household Debt
Many people aspire to pay off their home mortgages before retirement, but the housing situation and a weak economy have taken a toll on the finances of many older Americans. There are some compelling reasons why pre-retirees might want to consider maximizing their retirement plan contributions and avoid carrying large amounts of debt into retirement.
HOT TOPIC: Are Housing Troubles Standing in the Way of Growth?
In the wake of past recessions, the housing industry provided a meaningful economic boost. This time around, the pace of the recovery has been more sluggish than expected, and ongoing weakness in the housing sector may be to blame.
Deciding When to Begin
Waiting until full retirement age (or up to age 70) to claim Social Security may result in significantly higher monthly benefits. At age 62, the earliest age to claim Social Security, the amount received could be only 70% of the benefit received at "full retirement age" (which ranges from age 65 to 67 depending on year of birth).
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