PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Boomers Going Broke

Financial struggles are impacting all age groups, and, recently, more baby boomers are finding themselves in financial difficulty.

2010-10-04
October 04, 2010 (Press-News.org) Boomers Going Broke

Bankruptcy filings have been on the rise during this challenging economy. Financial struggles are impacting all age groups, and, recently, more baby boomers are finding themselves in financial difficulty. While people have considered bankruptcy a non-option, it might be the only way to eliminate debt. With retirement rapidly approaching, boomers need to have a plan in place that will allow them to get back on their feet.

A report by the American Bankruptcy Institute (ABI) Journal states that nearly 42 percent of individuals who filed for bankruptcy in 2008 were between the ages of 45 and 64. The baby boomers showed an increase in filings of two percent from 2007 study. This was the highest increase among any age range.

The reasons for boomers having financial problems are similar to those common in other age groups. High credit card debt can result in more money being needed for bills. With more bills to pay, less money goes into retirement accounts, reducing the amount of money available to build a stable financial future. The cost of higher education is an issue as well, both for boomers and their children. Tuition costs and student loans have increased considerably over the years, and boomers are feeling the pinch. While incomes may increase with higher education, it can take a long time to repay student loans.

The recent downturn in the housing market led to many boomers losing whatever equity they may have had in their homes. Refinancing has led to poor interest rates, leaving many boomers owing more than their homes are worth on the open market. Baby boomers also have unfortunately timed retirements looming. The collapse in the stock market has substantially reduced 401(k) plans. Funds that they had planned on having for retirement just are not there, and there is not time to rebuild wealth. It is crucial for boomers to deal with the reality of the situation that they are facing.

The baby boomer generation is the first generation where debt seemed normal. Despite being comfortable with debt, there is still uneasiness with bankruptcy. To some boomers, the advantages that come with bankruptcy do not outweigh the stigma that comes with filing. However, bankruptcy can reduce the financial strain you may be facing. An experienced bankruptcy attorney in your area can help you understand your situation, and help you come up with a plan that fits your needs.

Article provided by Illini Legal Services
Visit us at www.wardbankruptcy.com


ELSE PRESS RELEASES FROM THIS DATE:

Texas Experiments with Specialty Courts

2010-10-04
Texas Experiments with Specialty Courts The criminal justice system has not been working; at least, it is not working for all people in all circumstances. The system is strained by repeat offenders who recycle through the system, as some have come to believe, due to unique issues that have not been addressed. For example, many people with substance-abuse problems are convicted of drug crimes and given probation, only to violate the terms of probation that they not use drugs because of underlying untreated drug addiction. Over the past few years, Texas has been ...

Guidelines for Child Passenger Safety

2010-10-04
Guidelines for Child Passenger Safety National Child Passenger Safety Week ended September 25. This week of awareness is an excellent reminder for parents to become informed on what they can do to ensure their children's safety as passengers in motor vehicles at all times. The Insurance Institute for Highway Safety recently tested 23 new booster seat models for their fit and ability to protect children from serious injury in a crash. This year's models were found to be better at safely restraining a child than last year's models. The study also found that boosters ...

The Basics of Social Security Disability

2010-10-04
The Basics of Social Security Disability Throughout the course of an adult's working life, there is a possibility that the adult may face a serious health challenge, such as an illness, impairment or disability. When the illness, impairment or disability prevents a person from working, one may be eligible for benefits from the Social Security Administration. According to the Social Security Administration, a 20-year-old worker has a three in ten chance of becoming impaired or disabled before the age of retirement. Many applicants for benefits are initially denied, ...

Corcentric Announces New Webinar on Accounts Payable Automation

Corcentric Announces New Webinar on Accounts Payable Automation
2010-10-04
Corcentric, a leading provider of accounts payable automation solutions, today announced a new live Webinar: How Do You Achieve Accounts Payable Automation Using Software as a Service? The 45-minute Webinar, which is the first in a series of educational Webinars about AP automation, takes place on Thursday, October 7th at 2:00 PM EDT. Rob DeVincent, Vice President of Corcentric Product Marketing is the Webinar's featured speaker. He will explore how enterprises have been attempting to bridge the automation gaps that persist in the back office where people, paper, and ...

MyCoolCell Offers Thousands of Premium MyBat Brand Mobile Electronic Accessories at Extremely Competitive Wholesale Prices for Resellers Only

MyCoolCell Offers Thousands of Premium MyBat Brand Mobile Electronic Accessories at Extremely Competitive Wholesale Prices for Resellers Only
2010-10-04
Retailers, resellers and carriers looking for new ways to add pizazz to their retail line-up have a great option. The Premium MyBat line of wholesale cell phone accessories are available now at MyCoolCell.net. The line includes stunning iPhone cases and iPhone accessories for the always popular iPhone 3G and 4G, as well as cell phone accessories wholesale and retail for a multitude of other popular cell phone brands and models such as LG, Samsung, Motorola and HTC. Dreary, gray winter days just cry out for beauty and color, and that's exactly what customers will get ...

toyportfolio.com, the Independent Consumer Website, Announces Top-Rated Toys for 2010

toyportfolio.com, the Independent Consumer Website, Announces Top-Rated Toys for 2010
2010-10-04
The independent consumer organization, Oppenheim Toy Portfolio, announces their annual toy awards on their website www.toyportfolio.com. "Our award list this year is a mix of both classic toys and those that use cutting edge technology," notes child development expert and co-founder Joanne Oppenheim. "The good news for consumers is that there are many great choices that won't break the bank," adds co-founder Stephanie Oppenheim. "As always we've done the work so that parents can bring home engaging toys that will be a hit with their kids and not be a waste of their ...

The Paddington Corporation Announces A Joint Venture with 3 Amigos Tequila To Market Their Award Winning, 100% Agave, Hand Crafted, 3 Amigos Family of Tequilas

The Paddington Corporation Announces A Joint Venture with 3 Amigos Tequila To Market Their Award Winning, 100% Agave, Hand Crafted, 3 Amigos Family of Tequilas
2010-10-04
The Paddington Corporation today announced the formation of a Joint Venture with the Gonzalez family to market 3 Amigos Tequila globally. In addition, Paddington announced the appointment of Pelican Brands as the exclusive US importer for 3 Amigos. Known as "Your Arizona Family Tequila," 3 Amigos Tequila was founded by Arizona resident Santiago Gonzalez and his family in 2007. Our tequila is made from agave grown for generations at his family's farm in Mexico. Our Tequila is hand crafted and distilled and bottled in Mexico before being brought to the United States for ...

Ticking of cellular clock promotes seismic changes in the chromatin landscape associated with aging

Ticking of cellular clock promotes seismic changes in the chromatin landscape associated with aging
2010-10-04
LA JOLLA, CA-Like cats, human cells have a finite number of lives-once they divide a certain number of times (thankfully, more than nine) they change shape, slow their pace, and eventually stop dividing, a phenomenon called "cellular senescence". Biologists know that a cellular clock composed of structures at the chromosome end known as telomeres records how many "lives" a cell has expended. Up to now, investigators have not yet defined how the clock's ticking signals the approach of cellular oblivion. In a study published in the Oct. 3, 2010, issue of Nature Structural ...

Earlier, more accurate prediction of embryo survival enabled by Stanford research

2010-10-04
STANFORD, Calif. — Two-thirds of all human embryos fail to develop successfully. Now, in a new study, researchers at the Stanford University School of Medicine have shown that they can predict with 93 percent certainty which fertilized eggs will make it to a critical developmental milestone and which will stall and die. The findings are important to the understanding of the fundamentals of human development at the earliest stages, which have largely remained a mystery despite the attention given to human embryonic stem cell research. Because the parameters measured by ...

Auxogyn licenses noninvasive embryo assessment technology from Stanford University

2010-10-04
MENLO PARK, Calif. – October 4, 2010 – Auxogyn, Inc., a privately held medical technology company focused on women's reproductive health, today announced that it acquired an exclusive license from Stanford University to develop a set of products that may allow medical practitioners in the field of assisted reproduction to significantly improve the effectiveness of in vitro fertilization (IVF) procedures. The technology licensed from Stanford is described in a publication titled 'Non-invasive imaging of human embryos before embryonic genome activation predicts development ...

LAST 30 PRESS RELEASES:

Common thyroid medicine linked to bone loss

Vaping causes immediate effects on vascular function

A new clock to structure sleep

Study reveals new way to unlock blood-brain barrier, potentially opening doors to treat brain and nerve diseases

Viking colonizers of Iceland and nearby Faroe Islands had very different origins, study finds

One in 20 people in Canada skip doses, don’t fill prescriptions because of cost

Wildlife monitoring technologies used to intimidate and spy on women, study finds

Around 450,000 children disadvantaged by lack of school support for color blindness

Reality check: making indoor smartphone-based augmented reality work

Overthinking what you said? It’s your ‘lizard brain’ talking to newer, advanced parts of your brain

Black men — including transit workers — are targets for aggression on public transportation, study shows

Troubling spike in severe pregnancy-related complications for all ages in Illinois

Alcohol use identified by UTHealth Houston researchers as most common predictor of escalated cannabis vaping among youths in Texas

Need a landing pad for helicopter parenting? Frame tasks as learning

New MUSC Hollings Cancer Center research shows how Golgi stress affects T-cells' tumor-fighting ability

#16to365: New resources for year-round activism to end gender-based violence and strengthen bodily autonomy for all

Earliest fish-trapping facility in Central America discovered in Maya lowlands

São Paulo to host School on Disordered Systems

New insights into sleep uncover key mechanisms related to cognitive function

USC announces strategic collaboration with Autobahn Labs to accelerate drug discovery

Detroit health professionals urge the community to act and address the dangers of antimicrobial resistance

3D-printing advance mitigates three defects simultaneously for failure-free metal parts 

Ancient hot water on Mars points to habitable past: Curtin study

In Patagonia, more snow could protect glaciers from melt — but only if we curb greenhouse gas emissions soon

Simplicity is key to understanding and achieving goals

Caste differentiation in ants

Nutrition that aligns with guidelines during pregnancy may be associated with better infant growth outcomes, NIH study finds

New technology points to unexpected uses for snoRNA

Racial and ethnic variation in survival in early-onset colorectal cancer

Disparities by race and urbanicity in online health care facility reviews

[Press-News.org] Boomers Going Broke
Financial struggles are impacting all age groups, and, recently, more baby boomers are finding themselves in financial difficulty.