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Morgan Stanley cuts S&P 500 price target
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U.S. car sales cool in August on late Labor Day
European markets fall | FTSE 100 down
Berkeley to join FTSE 100 index; Weir to go
Dollar slides against yen | Oil prices pull back
Chinese factory data pull Asian shares lower
Man Group's China chief in custody: report

Avi Gilburt: There is a lot of bull left in this stock market
There’s a lot of bull left in this stock market

Gold screams summer stock correction not over
Gold screams stock correction not over

Unlucky lottery winner gets IOU from Illinois

Yahoo CEO Marissa Mayer
Yahoo CEO Marissa Mayer pregnant with twins

Apttus joins the billion-dollar startup club
Apttus joins the billion-dollar startup club


Chinese factory activity hits 3-year low

China sets new yuan rules

What to expect at September Apple event
What to expect at Apple event


Apple talks to Hollywood for exclusive content
Apple, Cisco team to put business users on iOS
Apple will let iPhone and iPad users block ads
Lost Apple deal leads to 40% job cut at GT

Trump says Mount McKinley name change ‘insult to Ohio’
Trump: Switch to Denali is ‘insult to Ohio’
Mount McKinley in Alaska is renamed Denali
Which U.S. president has the tallest mountain?

Classified details blacked out in new Clinton emails
Classified details blacked out in new emails
Clinton says she supports ‘revolving door’ bill
Biden a tougher matchup than Clinton: poll

Taleb’s ‘Black Swan’ fund made $1 bln in a week

Personal beliefs don’t belong in retirement accounts

Take your company pension, or buy an annuity?
Take your company pension, or buy an annuity?

Cheeseburgers and happiness always on the menu for Warren Buffett — and Jimmy Buffett, too
Farrell: Recipes for happiness, from Buffett and others
Happy 85th birthday to the $67 billion man

Ode to that legendary New York steakhouse the Palm

U.S. ready to punish China firms over cyber theft

Teacher with 111 tardies puts blame on breakfast
The automat is back — with a lot more quinoa

If Donald Trump can do it, why not Kanye West?
Dissatisfied voters are fueling Sanders, Trump

Disney to unveil ‘Star Wars’ toys in unboxing event
Walt Disney leads Dow's losers for August


/conga/frontpage.html 353798

Markets »

17.08MDow Volume:
Avg Vol: 109.98M
Unchanged
145
Decliners
4838
Advancers
777
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,197 -331 2.00%
Nasdaq
/quotes/zigman/12633936/realtime 4,696 -81 1.69%
S&P 500
/quotes/zigman/3870025/realtime 1,934 -38 1.94%
GlobalDow
/quotes/zigman/629063/realtime 2,307 -48 2.05%
Gold
/quotes/zigman/662444/delayed 1,143 +11 0.93%
Oil
/quotes/zigman/2331095/delayed 47.07 -2.13 4.33%
FTSE 100
/quotes/zigman/3173262/delayed 6,061 -187 2.99%
DAX
/quotes/zigman/2380246/delayed 9,996 -263 2.57%
CAC 40
/quotes/zigman/3173214/delayed 4,533 -120 2.57%
FTSE MIB
/quotes/zigman/1482176/delayed 21,445 -497 2.26%
IBEX 35
/quotes/zigman/2759620/delayed 9,990 -269 2.62%
Stoxx 600
/quotes/zigman/2380150/delayed 352 -10 2.87%
Asia Dow
/quotes/zigman/6959860/realtime 2,715 -69 2.47%
Nikkei 225
/quotes/zigman/5986735/delayed 18,166 -725 3.84%
Hang Seng
/quotes/zigman/2622475/delayed 21,185 -485 2.24%
Shanghai
/quotes/zigman/1859015/delayed 3,167 -39 1.23%
Sensex
/quotes/zigman/1652085/delayed 25,696 -587 2.23%
Singapore
/quotes/zigman/1709939/delayed 2,883 -39 1.32%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 +0.00 0.31%
Yen
/quotes/zigman/16008150/realtime/sampled 120.13 -1.10 0.90%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 0.00 0.10%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 -0.01 0.87%
DXY Index
/quotes/zigman/1652083/delayed 95.61 -0.32 0.33%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.29 -0.14 0.16%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 -0.03 1.52%
German 10y
/quotes/zigman/15866409/realtime 0.80 +0.07 9.15%
Italy 10yr
/quotes/zigman/15866497/realtime 1.99 +0.06 3.35%
Spain 10yr
/quotes/zigman/15866444/realtime 2.13 +0.07 3.48%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 -0.02 0.97%
Japan 10yr
/quotes/zigman/15866525/realtime 0.36 -0.02 4.88%
Crude Oil
/quotes/zigman/2331095/delayed 47 -2 4.33%
Gold
/quotes/zigman/662444/delayed 1,143 +11 0.93%
Corn
/quotes/zigman/7599553/delayed 371 -4 1.07%
DJIA F
/quotes/zigman/38649152/delayed 16,137 -371 2.25%
S&P F
/quotes/zigman/30356461/delayed 1,923 -46 2.33%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.16%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.79 -1.64 -1.83%
AAPL /quotes/zigman/68270/composite 111.16 -1.60 -1.42%
GOOG /quotes/zigman/30194416/composite 606.59 -11.66 -1.89%
BAC /quotes/zigman/190927/composite 16.01 -0.33 -2.03%
C /quotes/zigman/5065548/composite 52.06 -1.42 -2.66%
F /quotes/zigman/264304/composite 14.00 0.13 0.94%
T /quotes/zigman/398198/composite 32.52 -0.69 -2.06%
BP /quotes/zigman/247026/composite 32.57 -0.98 -2.91%
GE /quotes/zigman/227468/composite 24.16 -0.66 -2.67%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Encore
A blog about living in and planning for retirement

School Debts May Thwart Retirement Savings

It’s no secret that the baby boomers are falling short of the savings they will need to maintain their standard of living in retirement. What isn’t widely understood, though, is the role that education debt is playing in their financial woes.

That’s one of the highlights of a study the nonprofit National Center for Policy Analysis released last week. Using data from the Bureau of Labor Statistics, the study compares the spending habits of today’s 55- to 64-year-olds with those of the same age group 20 years ago. (It does the same for 45- to 54-year-olds.)

Over the past two decades, the study found, as a share of those groups’ spending on various goods and services, “education expenditures increased the most of any spending category — by 80% for 45- to 54-year-olds and by 22% for 55- to 64-year-olds.” The study also notes that one-third of the nation’s more than $1 trillion in student loan debt is held by individuals over the age of 40, many of whom are helping their children pay for college and repay loans.

Because the cost of a college education has risen faster than income for decades, the study’s authors say, Americans “are going deeper into debt to pay these expenses,” making it harder to save for retirement.

The findings echo a recent SmartMoney.com article titled “For Unpaid College Loans, Feds Dock Social Security.” As AnnaMaria Andriotis reported, the federal government is withholding money from a rapidly growing number of Social Security recipients who have fallen behind on federal student loans.

Among the other findings of the study:

  • “More than half of parents are helping to support their adult children.” Among them, 59% are covering living, transportation, medical and student loan expenses for children who are no longer in school.
  • From 1990 to 2010, the amount 45- to 64-year-olds spent on housing, including taxes, maintenance and insurance, rose by about 25% as a share of expenses.
  • Health care spending rose 30% for the younger group and 21% for the older group.
  • Baby boomers have not increased their spending on “frills, such as entertainment or dining out.” In fact, food purchases, including restaurant spending, fell by about 20% for both groups over the past two decades.
  • Spending on furniture fell by 25% for 55- to 64-year-olds and by one-third for 45- to 54-year-olds. And clothing expenses fell by 42% for the younger group and 70% for the older group.
  • The study also found that “real median income” for 45- to 54-year-olds fell from $67,795 in 1990 (in 2010 dollars) to $62,485. For the older group it rose, from $52,340 in 1990 to $56,575.

 

 

 

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (4 of 4)

View all Comments »
    • Katie, what do you want, free college and diploma and then wipe it clean, how nice of you. Is that what they teach you there, irresponsibility.

    • Very sad how the economy is draining everyone. It’s criminal that student loans cannot be discharged in bankruptcy nor can parents who cosigned get off the loans either. The government could help the auto industry but not the American people. http://www.postbankruptcyshop.com

    • This article is a clear example of why baby boomers are ina world of hurt and what happens when too much debt is taken on. Retirement for most Americans is a pipe dream and unless major reforms take place it will not get any better.

About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.

MarketWatch - Stock Market Quotes, Business News, Financial News
Investor Alert

New York Markets Close in:

need to know
Morgan Stanley cuts S&P 500 price target
Dollar Tree swings to net loss
GE wins $1 bln of orders in Asia-Pacific region
Penn West to cut staff 35%, suspend payout
U.S. car sales cool in August on late Labor Day
European markets fall | FTSE 100 down
Berkeley to join FTSE 100 index; Weir to go
Dollar slides against yen | Oil prices pull back
Chinese factory data pull Asian shares lower
Man Group's China chief in custody: report

Avi Gilburt: There is a lot of bull left in this stock market
There’s a lot of bull left in this stock market

Gold screams summer stock correction not over
Gold screams stock correction not over

Unlucky lottery winner gets IOU from Illinois

Yahoo CEO Marissa Mayer
Yahoo CEO Marissa Mayer pregnant with twins

Apttus joins the billion-dollar startup club
Apttus joins the billion-dollar startup club


Chinese factory activity hits 3-year low

China sets new yuan rules

What to expect at September Apple event
What to expect at Apple event


Apple talks to Hollywood for exclusive content
Apple, Cisco team to put business users on iOS
Apple will let iPhone and iPad users block ads
Lost Apple deal leads to 40% job cut at GT

Trump says Mount McKinley name change ‘insult to Ohio’
Trump: Switch to Denali is ‘insult to Ohio’
Mount McKinley in Alaska is renamed Denali
Which U.S. president has the tallest mountain?

Classified details blacked out in new Clinton emails
Classified details blacked out in new emails
Clinton says she supports ‘revolving door’ bill
Biden a tougher matchup than Clinton: poll

Taleb’s ‘Black Swan’ fund made $1 bln in a week

Personal beliefs don’t belong in retirement accounts

Take your company pension, or buy an annuity?
Take your company pension, or buy an annuity?

Cheeseburgers and happiness always on the menu for Warren Buffett — and Jimmy Buffett, too
Farrell: Recipes for happiness, from Buffett and others
Happy 85th birthday to the $67 billion man

Ode to that legendary New York steakhouse the Palm

U.S. ready to punish China firms over cyber theft

Teacher with 111 tardies puts blame on breakfast
The automat is back — with a lot more quinoa

If Donald Trump can do it, why not Kanye West?
Dissatisfied voters are fueling Sanders, Trump

Disney to unveil ‘Star Wars’ toys in unboxing event
Walt Disney leads Dow's losers for August


/conga/frontpage.html 353798

Markets »

17.08MDow Volume:
Avg Vol: 109.98M
Unchanged
145
Decliners
4838
Advancers
777
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,197 -331 2.00%
Nasdaq
/quotes/zigman/12633936/realtime 4,696 -81 1.69%
S&P 500
/quotes/zigman/3870025/realtime 1,934 -38 1.94%
GlobalDow
/quotes/zigman/629063/realtime 2,307 -48 2.05%
Gold
/quotes/zigman/662444/delayed 1,143 +11 0.93%
Oil
/quotes/zigman/2331095/delayed 47.07 -2.13 4.33%
FTSE 100
/quotes/zigman/3173262/delayed 6,061 -187 2.99%
DAX
/quotes/zigman/2380246/delayed 9,996 -263 2.57%
CAC 40
/quotes/zigman/3173214/delayed 4,533 -120 2.57%
FTSE MIB
/quotes/zigman/1482176/delayed 21,445 -497 2.26%
IBEX 35
/quotes/zigman/2759620/delayed 9,990 -269 2.62%
Stoxx 600
/quotes/zigman/2380150/delayed 352 -10 2.87%
Asia Dow
/quotes/zigman/6959860/realtime 2,715 -69 2.47%
Nikkei 225
/quotes/zigman/5986735/delayed 18,166 -725 3.84%
Hang Seng
/quotes/zigman/2622475/delayed 21,185 -485 2.24%
Shanghai
/quotes/zigman/1859015/delayed 3,167 -39 1.23%
Sensex
/quotes/zigman/1652085/delayed 25,696 -587 2.23%
Singapore
/quotes/zigman/1709939/delayed 2,883 -39 1.32%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 +0.00 0.31%
Yen
/quotes/zigman/16008150/realtime/sampled 120.13 -1.10 0.90%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 0.00 0.10%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 -0.01 0.87%
DXY Index
/quotes/zigman/1652083/delayed 95.61 -0.32 0.33%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.29 -0.14 0.16%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 -0.03 1.52%
German 10y
/quotes/zigman/15866409/realtime 0.80 +0.07 9.15%
Italy 10yr
/quotes/zigman/15866497/realtime 1.99 +0.06 3.35%
Spain 10yr
/quotes/zigman/15866444/realtime 2.13 +0.07 3.48%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.83 -0.02 0.97%
Japan 10yr
/quotes/zigman/15866525/realtime 0.36 -0.02 4.88%
Crude Oil
/quotes/zigman/2331095/delayed 47 -2 4.33%
Gold
/quotes/zigman/662444/delayed 1,143 +11 0.93%
Corn
/quotes/zigman/7599553/delayed 371 -4 1.07%
DJIA F
/quotes/zigman/38649152/delayed 16,137 -371 2.25%
S&P F
/quotes/zigman/30356461/delayed 1,923 -46 2.33%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.16%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.79 -1.64 -1.83%
AAPL /quotes/zigman/68270/composite 111.16 -1.60 -1.42%
GOOG /quotes/zigman/30194416/composite 606.59 -11.66 -1.89%
BAC /quotes/zigman/190927/composite 16.01 -0.33 -2.03%
C /quotes/zigman/5065548/composite 52.06 -1.42 -2.66%
F /quotes/zigman/264304/composite 14.00 0.13 0.94%
T /quotes/zigman/398198/composite 32.52 -0.69 -2.06%
BP /quotes/zigman/247026/composite 32.57 -0.98 -2.91%
GE /quotes/zigman/227468/composite 24.16 -0.66 -2.67%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/12221594/composite AMBA-3.42%
  • /quotes/zigman/109619/composite DLTR-6.10%
  • /quotes/zigman/627449/realtime DJIA-1.99%
  • /quotes/zigman/24849617/composite AAL+0.30%
  • /quotes/zigman/463579/composite DAL+0.46%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
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  • Free WSJ.com registration

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