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Teach your children well

Teach your children well

In a recent survey of Generation Z (ages 13 to 22), 39 percent of teens and young adults said they expect to receive an inheritance and therefore don't need to worry about saving for retirement! Howev

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Women and retirement investing

Women and retirement investing

Career opportunities for women have expanded greatly over the last couple of decades. Yet during their lifetimes, women still earn less money than men, primarily because they take time off from their jobs to care for children or aging parents.

Women also have longer life spans than men, so they may need to fund additional years in retirement with fewer financial resources. One study found that the average retirement savings for a woman aged 65 to 69 was about 22 percent less than that of a man of the same age.

Given the challenges, it's understandable that women are 42 percent more likely than men to express concern about having enough money for retirement (according to a 2012 survey). Focusing on saving for the future and managing retirement plan investments wisely could help many women improve their retirement prospects.

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Where is the money? Don’t overlook the MAAG

Where is the money? Don’t overlook the MAAG

Business start-ups challenged by the need for funding should not overlook the Memphis Area Association of Governments – MAAG.

According to its website, MAAG was created to facilitate and support activities that stimulate economic and community development in the community.

Revolving Loan Fund

MAAG – in addition to serving in a supporting role for governments and non-profits – also provides loans through its Revolving Loan Fund (RLF). A tool specifically targeting small and medium-sized businesses, the RLF is used to "promote expansion and job retention" by offering gap financing.

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Rainbow Push Honors Legends and Emerging Leaders

Rainbow Push Honors Legends and Emerging Leaders

 

DETROIT, MI – The Rainbow PUSH Automotive Project, an initiative of the Citizenship Education Fund
(CEF), will convene its 14thAnnual Rainbow PUSH Global Automotive Summit, October 2-3, 2013, at

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  • Written by Roz Edward, National Content Director

Growth in black buying power continues

Growth in black buying power continues

WASHINGTON – (BUSINESS WIRE) – African-American buying power continues to increase and is expected to rise from its current $1 trillion level to $1.3 trillion by 2017, according to Resilient, Receptive and Relevant: The African-American Consumer 2013 Report.

The report was released on Friday (Sept. 20) by Nielsen, a leading global provider of information and insights into what consumers watch and buy, in collaboration with the NNPA during the Congressional Black Caucus Foundation's 43rd Annual Legislative Conference.

Highlights from the report include:

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More Americans feel graduates unprepared after college

More Americans feel graduates unprepared after college

NEW YORK – College students settling in for the year may not graduate feeling as ready for the workforce as they expected.

Although a majority of Americans believe a college degree is the most important factor in career success, they're increasingly skeptical schools are doing a good enough job to prepare students, a new study conducted for Northeastern University found.

According to the study, 62 percent of the people surveyed rated colleges' efforts to prepare graduates for the economy as "poor" or "fair." Half said the quality of preparation had declined over the last 10 to 15 years, and nearly as many said colleges aren't in tune with today's job market.

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  • Written by Gregory Wallace/CNNMoney

Where is the money? Try ‘factoring’ this

Where is the money? Try ‘factoring’ this

No matter the size of the firm, many businesses regularly face cash shortages. When small or new businesses face such a squeeze the options are more limited. But if the business has accounts receivables, which is an asset that can be sold, "factoring" may be an option.

Factoring entails the business selling its accounts receivables at a discount to a third party known as a factoring company. The discount is the incentive for the factoring company to take a risk by advancing money on the receivables.

In a normal factoring deal, there are three participating parties: the business selling the accounts receivable, the one buying the accounts receivable (the factoring company), and one who owes the accounts receivable (customer of the seller or the debtor). The accounts receivable usually have to be owed by a dependable verifiable source that has a credit rating worthy of the factoring company its money

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How a pension could affect Social Security benefits

How a pension could affect Social Security benefits

If you expect retirement income from a pension and Social Security, congratulations! These two income streams, along with your retirement savings, could put you on a comfortable financial footing. However, you might not be aware that your pension could affect your Social Security benefits.

Eliminating windfalls

Private-sector workers who earn a pension typically pay Social Security payroll taxes, in which case the pension should not affect their Social Security benefits. However, an issue arises when someone receives a pension based on earnings in which Social Security taxes were not paid — typically from a federal, state, or local government, a nonprofit organization, or an employer in a foreign country — and the individual is also eligible for Social Security benefits based on employment from other jobs. In these situations the Social Security benefit may be reduced by the Windfall Elimination Provision (WEP).

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