As many as 5 million seniors are ripped off every year. Is your state on this list?

10. Missouri

9. New Hampshire

8. Delaware

7. North Dakota

6. Montana

5. Virginia

4. South Dakota

3. Tennessee

2. Minnesota

1.Nevada

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Credit repair companies promise the sun and the moon, but they may instead be taking you for an expensive ride. Credit repair scams are rampant. Sure, there are some legitimate companies that will help you sort out the details of your credit report, but many others are simply preying on desperate people. The following items are untrue:

Lie No. 1: You can start over

Lie No. 2: It’s OK to fudge your income

Lie No. 3: You have to pay upfront

Lie No. 4: Only we can help you

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Here’s how to take control of your cash – and quit tearing your hair out. If you’re worried about your finances, you’re not alone. Money has historically been a leading stressor for Americans, according to the American Psychological Association’s annual “Stress in America” survey. The following tactics will help you get control of cash – and quit stressing.

1. Follow the money
   • Track your spending
   • Make a budget
2. Know what you owe
3. Set attainable money goals
4. Celebrate every victory
5. Create a few long-range goals
6. Use technology well
7. Seek answers to your questions

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The hard facts:

• 90,000 – Pensions that have been cut or approved for cuts
• 130 – Plans are expected to run out of money within the next 20 years
• 1,300,000 – Workers and retirees in failed single-employer plans
• $12,870 – PBGC’s maximum annual benefit for retirees in failed multiemployer plans
• By 2025 – the year PBGC’s* insurance fund for multiemployer pensions will likely run out of money.

PBGC = The federal Pension Benefit Guaranty Corporation Fund, which insures private pension plans.

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The pension crisis may affect as many as one million Americans. Thousands of workers and retirees have suffered benefit cuts. A million more are at risk. These plans are failing at an alarming rate. About 12 percent of workers with vested multi-employer pensions are in plans expected to run dry within 20 years. And the plans’ weak safety net is getting weaker. The Federal Pension Benefit Guaranty Corporation, which insures private plans, pays no more than $12, 870 per year to a 30-year worker whose multiemployer plan has failed. The fund for these plans is likely to go broke by 2020. In 2014, over AARP’s objections, Congress passed a law allowing troubled plans to cut vested benefits in hopes of staying afloat.

In March 2019, AARP declared its support for Multiemployer Pensions Act, a House bill with bi-partisan support. It would provide low-cost, 30-year government loans to qualifying plans, while forbidding increases in promised benefits and reductions in employer contributions. Stay informed about your pension plan!

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AAA has numerous benefits for you to explore!

• You can receive $50 Activity Credit with select 3-night or more on-site vacation packages
• A Universe of Savings coupon book
• Preferred seating at select theme park shows
• Visit www.AAA.com/Universal or call 888-AAA-TRIP for more information

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Are you irrational about money? Many of us are. Get educated to about your finances so you don’t have rely on any single “expert.” There is a wealth of good free info online. If you want professional help, shop for a financial advisor who is a certified financial planner or is a certified public accountant with a personal finance specialist designation. Use an advisor who discloses fees and has fiduciary responsibility to put your interest first. Have a 401 (k) at work? The company that operates it for your employer may also provide retirement planning advice.

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Are you making this costly retirement plan blunder, too?

Who would turn down free money? About 1 in 3 workers , as it turns out. About 33% of workers do not contribute enough money to their 401(k) plan each year to get their full company match, says Vanguard, one of the world’s biggest mutual fund providers. Almost two-thirds of workers received the full employer matching contribution for which they are eligible. However, that still leaves one-third of workers who are not getting the full match- who are, in essence, turning down free money. Thus, missing a few years of matching contributions can be a life-changing mistake.

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Asking these questions will help you find a credit union with great service, security and convenience. You may have heard that many people like credit unions better than banks. The nonprofit, member-owned financial institutions often have lower interest rates on loans and credit cards, higher rates on savings and fewer fees for checking accounts. To some, they may also seem friendlier. But with son many choices, how do you pick the credit union that’s right for you? Compare rates and fees, of course, but you also should check out these criteria:

1. Can I join?
2. Does it offer the services I need?
3. Which credit unions are near me?
4. Will my money be safe?
5. How do I get started?

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Exceeding your credit limit is hardly the only reason your plastic can be rejected. Beware these lesser-known causes. Many of us have been there – having a credit card declined. Here are a few reasons you may not be aware of:

1. Unusual activity
2. Excessive spending
3. Outdated personal information
4. Temporary holds
5. International purchases
6. Card expiration
7. Typos – for instance: putting the wrong card number into the system online

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