Late-in-life student loans can wreck retirement
This story was out of date and we've taken it down. Here are other ideas that will help you deal with student loans and retirement planning.
Get cosigners off your student loans now
If you have a private student loan, you probably have a cosigner on that note. When a cosigner dies, lenders often exercise their right to demand full repayment of your loan even if you're current on your payments and have been a model borrower. There's a way to avoid this by having cosigners released from student loans. But it's a process you must initiate.
Affordable ways to repay student loans
There's been a lot of buzz about the Consumer Financial Protection Bureau's findings that one in every eight federal student loan borrowers is in default to the tune of $89.3 billion. But the part of the analysis that we found disturbing is that troubled borrowers are not using repayment plans that would tie monthly payments to their income and forgive part of the debt after they make 120 on-time payments.
When should you start Social Security?
Deciding when to start Social Security is one of the most important retirement decisions you’ll make. Is it smart to sign up for a check as soon as you turn 62, the youngest possible age? Or should you wait a few years, when you’ll qualify for a bigger monthly payment? Let our 6-step guide help you make the right call for your financial situation.
Have you maxed out your contributions?
Congratulate yourself. That's kind of a big deal. Just 3% of Americans take full advantage of their tax-deferred 401(k) plans or Individual Retirement Accounts by contributing as much as the government allows. What should you do now? While there's no reason to stop saving, there's also no reason to starve now in order to feast later. Here's a quick quiz to help you decide.