Inside these posts: Saving

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Taxpayers plan to save, pay bills with refunds

More taxpayers this year are choosing to save rather than spend.

A survey by job website CareerBuilder found that 46 percent of taxpayers who will receive tax refunds plan to use them to pay off bills, down from 56 percent who had those intentions last year. Meanwhile, 36 percent plan to put the funds into their savings accounts, up from 34 percent last year. Get the full story »

Savings rates drop below 1%

The national average rate for checking, savings and other deposit products has dropped below 1 percent for the first time in at least a decade, according to an analysis released Monday by Market Rates Insight.

The survey also includes money-market accounts and certificates of deposit.

In July  2010, the national average rate was 0.99 percent, Market Rates found. The closest dip in deposit rates occurred in January 2004, when the national average rate was 1.88 percent. Get the full story »

Study: 47% of boomers don’t have enough to retire

No matter their income level, a significant number of U.S. workers are likely to struggle to meet basic expenses during retirement, a new study of baby boomers and “generation Xers” released on Tuesday shows.

Over 40 percent of people with the lowest incomes face prospects of depleted savings within 10 years after retirement, with that number climbing toward 60 percent after another decade, according to Washington-based Employee Benefit Research Institute. Get the full story »