Money

The first regular session of the 122nd South Carolina General Assembly will convene on Tuesday, January 10, 2016. AARP South Carolina is ready to work on behalf of its 615,000 Palmetto state members. Need to find contact information for your House or Senate member? >> Click here

By Curtis Loftis, South Carolina Treasurer

AARP South Carolina believes that today, a secure retirement is out of reach for millions of Americans, especially those who work for small businesses. According to the National Institute on Retirement Security, the conservative estimate of the total U.S. retirement savings deficit is $6.8 trillion. Nearly half of workers age fifty and older have less than $25,000 in savings and investments. The average 401(k) account balance in South Carolina is $20,630, ranked 50th in the US.

Did you know that one in four individuals between the ages of 44 to 70 are interested in becoming entrepreneurs? In fact, entrepreneurs over the age of 50, also known as encore entrepreneurs, are one of the fastest-growing groups of entrepreneurs in the United States.

With the holiday giving season approaching, a new survey from the AARP Fraud Watch Network found that 62% of South Carolina consumers failed a quiz about how to stay safe from common holiday scams, and many are regularly engaging in risky behaviors which could leave them at risk of being victimized by con artists.

The Hilton Head Economic Development Corporation will partner with the U.S. Small Business Administration and AARP South Carolina on Tuesday, June 16, to host an “Encore Entrepreneur + Mentor Matchmaker” event. The free event will connect aspiring entrepreneurs and small business owners with a variety of business experts through a series of roundtable mentoring sessions. Topic categories will include starting, running, marketing and financing a business. The event will also include a panel discussion with several Hilton Head Island entrepreneurs. Entrepreneurship is a key focus area of the HHIEDC’s program of work.

DefSemiHidden="true" DefQFormat="false" DefPriority="99"

Have you heard the phrase “chained CPI” lately? It’s an innocuous sounding name for a budget proposal that would cut Social Security and other benefits for today’s seniors and veterans – including disabled veterans and military retirees. But what does it mean?

The SC Department of Revenue has begun mailing letters to South Carolina taxpayers regarding the October security breach. The letter encourages individuals to take advantage of the free credit monitoring service for a year from Experian. Also, there is information regarding how to implement a security freeze on your personal credit history.

As with most things, we like to get it right.