October 1, 2012 |
Americans have poured record amounts of money into savings accounts even though interest rates are at historic lows, new federal data show, a sign that average people may be missing out on a booming stock market and recovering real estate sector. The total amount in those accounts climbed nearly 5 percent to $6.9 trillion in the spring, the highest level recorded since the Federal Reserve launched its regular reports on the flow of money in the economy in 1945. At the same time, other data show that...
February 24, 2010
ENZI: Thank you, Mr. President, colleagues. When we're -- when we're talking about insurance reform, we haven't really talked about, but Representative Slaughter kind of opened the door on it, and that's Medicare. Seniors out there are really nervous. Seniors are the ones objecting the most to the program, and it's because they see half a trillion dollars coming out of their program. If Medicare were separate, and any savings that we did in Medicare reform went back...
October 1, 2009 |
Lake Arbor Elementary School fifth-grader Khalifa Ndir, 10, of Bowie eagerly waited to open his first bank account at the Mitchellville school with a $5 deposit, standing with other students clutching their bank applications and cash. "I think it's going to be fun watching the money grow," he said. "I'm saving up for something; when the time comes, I will know" what that is. On Sept. 23, Lake Arbor celebrated the grand opening of the school's student credit union, part of a Prince George's County public schools...
April 28, 2013 |
At first glance, Neha Pai thought working at a bank would be boring. "But once I started being a teller, I realized it's really fun," the fourth-grader said. Over the past few months, Pai has gotten a first-hand look at the inner workings of a financial institution, thanks to a program hosted by Sandy Spring Bank at her Fairfax public school. Every Wednesday, the Olney-based bank sets up a mini-branch in the school's cafeteria. Between 8:30 a.m. and 9:15 a.m., students can stop by to...
February 16, 2013 |
For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation's elderly, according to a growing consensus of new research. The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans. And the full extent of the damage is only now being grasped by experts and policymakers.
July 16, 2009
I asked Richard Barrington, the primary spokesman and personal finance expert for MoneyRates.com, for his views on saving money. Besides working for the Web site, which examines bank account rates, he is a freelance writer and novelist who spent over 20 years as an investment industry executive. Here's what he had to say: "Yes, the recession is dragging on, the stock market is sputtering again, and interest rates are low. It's an era of diminished expectations, one where we have to return to the basics like...