Every day thousands of Baby Boomers turn age 62 and become eligible to receive Social Security benefits. The dilemma they face is taking the money immediately or waiting.

For those who can afford to wait, doing so could result in hundreds of thousands of extra dollars over a lifetime.  There may also be unique strategies to employ for added benefits.

Each situation is unique, which can make the decision which is often irreversible a complicated one.

The Basics

Social Security began in 1935 at a time when the poverty rate among those over age 65 was a staggering 50 percent.  Workers contribute 6.2 percent of their income to the system (up to the cap limit)...

Chennai: Public sector Indian Overseas Bank has reported over two-fold jump in net profit for the first quarter ended June 30, 2014 at Rs 271.72 crore.

The city-based bank had reported net profits of Rs 125.79 crore in the corresponding period of the previous year.

Total income for the first quarter ended June 30, 2014, grew to Rs 6,284.69 crore from Rs 6,187.15 crore registered during the same period of the previous year.

Gross NPA of the bank as on June 30, 2014 stood at 5.84 percent, as against 4.45 percent registered during the same period of the previous year.

Net NPA stood at 3.85 percent in the reported quarter as against 2.81 percent registered during the same...

Vivek Sharma

Gone are the days when borrowing was considered bad in India. With government offering tax benefits on home loans and educational loans, habit of borrowing has started sinking into the DNA of Indian middle class. Today borrowing is not just confined to the essential need such a house but has also got spread to comfort and luxuries such as buying a car, white goods or the latest craze of fancy gizmos. While borrowing money may serve the purpose of buying goods and services which cannot be bought otherwise, it does have critical elements of responsibilities that it brings. Every borrower needs to be a responsible borrower. The idea of responsibility is to protect the interest...

Michelle DeMellos story is like many Americans. She worked her entire life, but a health problem left her unable to pay her mortgage. After negotiating a short sale with Wells Fargo, Demello said the bank foreclosed on her house anyway. Its called dual tracking, and its illegal.    
               
DeMello was left without a home and the word foreclosure was stamped on her credit report across all three credit agencies. 
             
It destroyed my credit. I was devastated, she said.

DeMello sent dozens of documents to the credit bureaus disputing the foreclosure, but according to her attorney Dennis Card, Jr., none of her letters were being read. 
 ...

Deploring the fact that Indias bright students are denied higher education and the absence of even a single Indian university in the list of the worlds top 200 varsities, President Pranab Mukherjee stressed the need to encourage the countrys meritorious students by giving scholarships, educational loans and self-help schemes.

Mukherjee was delivering his convocation speech at the Golden Jubilee Convocation of Pandit Ravishankar Shukla University, in Raipur of Chhattisgarh on Saturday.

In the distant past, universities like Nalanda and Takshashila were global leaders in higher education. The story is different today. As per reputed agencies, there is not a single Indian institution amongst...

The credit card services provider recently launched a digital payments service called Visa Checkout and opened a developers center in San Francisco. In 2011, the company had launched a similar product called V.me, which failed to gain traction with users.

Read MoreVisa launches Checkout, a rival to PayPal

In late spring, Visa and Mastercard planned to leave operations in Russia after a new law required high security deposits to the central bank, but decided to stay on amid signs that the rules might be relaxed.

Read MoreRussia cuts deposit payments for Mastercard, Visa

–By Reuters. CNBC.com contributed.

Chennai: Public sector Indian Overseas Bank has reported over two-fold jump in net profit for the first quarter ended June 30, 2014 at Rs 271.72 crore.

The city-based bank had reported net profits of Rs 125.79 crore in the corresponding period of the previous year.

Total income for the first quarter ended June 30, 2014, grew to Rs 6,284.69 crore from Rs 6,187.15 crore registered during the same period of the previous year.

Gross NPA of the bank as on June 30, 2014 stood at 5.84 percent, as against 4.45 percent registered during the same period of the previous year.

Net NPA stood at 3.85 percent in the reported quarter as against 2.81 percent registered during the same...

AHMEDABAD: As more and more students continue to opt for higher studies, the request for education loans grew by almost double in 2013-14 compared to previous year.

Banks have disbursed education loans to 20,115 students to the tune of Rs 372.60 crores in 2013-14 by March 2014 compared to Rs 241.23 crore disbursed to 10,887 beneficiaries in 2012-13. The outstanding under education loans reached Rs1438.59 crore in 50,656 accounts as of March, 2014.

On the contrary, due to slowdown in real estate and higher interest rates, demand for home loans saw a drop of 26% as less people applied for them. Home loans worth Rs 7028.95 crore were granted to 81,556 beneficiaries during the year...

Does your credit card allow you to get free tickets for next big rock concert? Does your card allow you to get free drinks, meals, make cheap foreign exchange transactions, or get hotel deals near airport? Have you ever been offered a free round of golf at a posh club or discounted tickets for next World Cup in Brazil? If your answer to all the above questions is no, you are probably not holding an elite credit card that stands far ahead the competition. As the economy continues to improve, credit card issuers have added extra incentives and enriched card features for their customers. Appealing to the consumers evolving taste, many card companies offer luxury hotel booking, foreign tours, online...