Archives for General
Quiz: How “Financially Capable” Are You?
By Glenn Ruffenach Quick question: Do you think you are “financially capable”? In other words, are you able to make ends meet, plan ahead, and choose and manage financial products? In short, do you have the skills and knowledge necessary to make good financial decisions? Don’t be too quick to say “yes.” That quality – “financial capability” – is at the heart of a new and disturbing report from the Pension Research Council at the University of Pennsylvania’s Wharton School. The study finds that levels of financial knowledge in the U.S. – including an understanding of retirement planning – are…
Oil and gas industry to drive La job growth
Industrial construction related to Baton Rouge’s boisterous petrochemical and area oil and gas industries will drive strong job gains in the Capital Region over the next two years, a forecast shows. The region is expected to gain 4,400 jobs in 2012 and another 3,300 in 2013, according to the 30th annual “Louisiana Economic Outlook: 2012 and 2013,” co-authored by retired LSU economist Loren Scott, a long-time follower of the state’s economy. Baton Rouge — the state’s second-largest metro region after New Orleans — will see the most job gains, according to the report, though the rate of growth is not…
Why the Job Market Feels So Dismal
"The prescription for the American labor market is simple: low taxes on capital investment, avoidance of excessively burdensome regulation, and open markets here and abroad. We must create a climate in which investment is profitable, productivity is rising, and employers find it profitable to increase their hiring rate. These are the mantras that economists have chanted in the past. But they are our best bet for ensuring a dynamic and growing labor market." Why don't American workers feel that the labor market is on the mend? After all, the May 6 jobs report could suggest that the labor market…
Why Inflation hurts more than it did 30 years ago
Inflation hurts more than it did 30 years ago for Americans stuck with flat income WASHINGTON (AP) -- Inflation spooked the nation in the early 1980s. It surged and kept rising until it topped 13 percent. These days, inflation is much lower. Yet to many Americans, it feels worse now. And for a good reason: Their income has been even flatter than inflation. Back in the '80's, the money people made typically more than made up for high inflation. In 1981, banks would pay nearly 16 percent on a six-month CD. And workers typically got pay raises to match their…
5 Biggest Retirement Myths
It was a simple enough proposition. Michael and Margie Gershtenson had always heard that the Southwest, land of cacti, affordable housing and low taxes, was a great retiree haven. And they knew they needed to set aside a certain amount for life's next chapter—as those big-broker ads ask, "What's your number?" So they set up a foolproof plan: Build a nest egg of at least $3 million, and get out of town. Which is exactly what they did, hitting that threshold five years ago and closing down their dental practice in Colorado—Michael had been the dentist, Margie the hygienist.…