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    MoneyAndFinances
Money News For Senior Citizens

Senior Money News
Our money must outlive us. With seniors targeted for job cuts in uncertain times, financial security is as important as before but much more trying.

It is unfair, but it is a fact today that many companies approach hiring people as they might aproach buying tires: they want a lot of tire tread, useful life, left. And, they don't want retreads. These employers are seeking people no more than 30-35 old. If an over-fifty type applies, they ask themselves how many years does this person have left to work? What do you suppose such employers think when an applicant is 64? Hiring based on the model of buying remaining tire tread gives retirement a new meaning.

How Do You Approach Saving For Retirement?

I don't know about you, but no one every taught me about money in school. No one taught me at home, either. My family was poor. My mother, bless her heart, was good with spending money but not saving it. What I know about money I learned myself. I learned after fifty that I could save money. I learned that if I couldn't live on 90% of my income, then I couldn't live on 100%.

Times Are A-Changin'

Times have changed since September 2008. It's been a dramatic and perhaps a permanent change. If it is not permanent, it will probably take decades to play out. Just before the 2008 election, Wall Street ground to a halt in a financial crisis. We had a global financial crisis. Hundreds of billions of dollars later, is the crisis solved? Are banks lending again? After hundreds of billions more spending on stimulus, are we better off? Is unemployment down? Are businesses hiring in a healthy way again? Are people buying houses as they used to?

With these fundamental changes, we must change. The days of investing and forgetting are over. Putting your finances on autopilot, set it and forget it, will steer you into the shoals of finance. Dollar cost averaging investing still works, but holding investments through bull and bear markets can just get you into a hole you find difficult to get out. If you loose 50% of your investment, you need to make a 100% profit to get back to before.

Read. Be aware of what is about you.

News stories aggregated by Senior News Service from Elder-Gateway.
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