We rate all kinds of things here at Consumer Reports, but places to retire aren’t one of them. Any number of other publications, websites, and organizations do, however, and the editors of the Consumer Reports Money Adviser newsletter follow their efforts with interest. Every so often, we like to compare different lists side by side and see what, if any, places they agree on. No single place made all four of the lists we looked at most recently, including one released just this week, but these four cities each made two:
If you’re scouting around for a place to retire, or just enjoy fantasizing about ever being able to, here’s another new list of possibilities, from the website MoneyRates.com. It ranks all 50 states based on economic factors (cost of living, tax rates, and unemployment), as well as climate, life expectancy, and crime. Texas tops the list, followed by Kentucky, Oklahoma, and Iowa. At the bottom: Massachusetts, Michigan, and Maine.
We Americans aren't the only ones who fantasize about retiring abroad, apparently. Many prospective retirees in the United Kingdom do, as well, according to a new survey by Standard Life, a financial services company based in Edinburgh. And No. 3 on their wish list of destinations, after Spain and Australia, is the U.S.A. France came in fourth, Ireland fifth.
The Social Security disability fund may not be able to make payments come 2017, according to a new analysis by the Congressional Budget Office (CBO).
The Colorado town of Louisville topped Money Magazine's annual list of 100 Best Places to Live. The 2011 list of the best American small towns was based on job opportunities, quality of school systems, economic strength, and weather, among other criteria.
Congress and the President have until Tuesday to resolve the debt-ceiling crisis. If that deadline comes and goes the U.S. will be in default, and the government will have trouble paying its bills and covering its costs. Failure to raise the debt ceiling would also have financial consequences for consumers. Here are a few things that might happen.
Without a workplace 401(k) plan, many investors would not be saving for retirement at all, according to a new study from the mutual fund and financial services group Fidelity Investments.
AARP's Social Security Benefits Calculator, which was unveiled today, gives folks planning for retirement a useful tool to answer a key question: When to file for those benefits? From first look, I'd say it's not a perfect tool, but it could help many people—and couples—get closer to that crucial decision.
A new survey of 250 large companies shows that many employers have scaled back their retiree insurance plans, while others are planning to eliminate them, according to CNN Money.
Wells Fargo has announced that it is getting out of the business of providing reverse mortgages. This move follows in the steps of Bank of America, which announced the end of its reverse mortgage program earlier this year. The two banks accounted for about 43 percent of reverse mortgage business in the U.S.
In 2010 about one in seven workers borrowed money from their 401(k) plan. Currently, about 30 percent of all 401(k) holders also have an outstanding loan. That percentage is the highest in recent history, according to data from Aon Hewitt, a human-resources consulting group.
Financial abuse of older Americans has increased by 12 percent over the last three years, according to a study released Wednesday by the MetLife Mature Market Institute.
In hopes of saving $1 billion over 10 years, the Department of Treasury has decided that new Social Security applicants should be required to receive their checks via direct deposit. This would significantly limit the cost of printing, handling and sending paper checks by mail, according to the Treasury.
Using virtual-reality technology, Stanford and other schools are letting young individuals view simulations of their future, older selves, and gauging the impact on their present-day financial decisions. The Wall Street Journal reported recently that this could help turn impulsive spenders into long-term savers.
Our testers put 100s of products through their paces at our National Testing and Research Center. Learn more about how we test for: