The Exchange

  • When you're young, you can afford to make some financial mistakes. The closer you get to retirement, however, the more costly those missteps can be. And whereas past generations often just waited for their pension checks to come each week, nowadays retirees have to handle most of the saving themselves and figure out how to allocate that money for a longer life span.

    We spoke to financial advisers about some of the most serious slip-ups and how they can be overcome. Here are five:

    1. Mistiming Social Security benefits

    When to begin claiming Social Security benefits is “your most important financial decision,” according to “The Social Security Claiming Guide,” published by the Center for Retirement Research at Boston College. Your monthly benefit is based on a combination of your work history, earnings and age at which you file for benefits. You can start collecting Social Security at any age between 62 and 70, but at its most basic, the later you claim Social Security, the higher your

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  • Clothiers catering to teens and young adults were selling off Friday, paced to the downside by Abercrombie & Fitch (ANF), which was having its worst trading session since last August following a weak quarter and poor outlook.

    Abercrombie & Fitch store: Credit AP Recently, Abercrombie was down $5.78, or 10.6%, at $48.59 on volume that was triple the average for a regular full day. The most recent time it fell more was Aug. 2, when it dropped 14.6%. Aeropostale (ARO) and Gap (GPS), sellers to the same demographic as Abercrombie, were having sluggish days after their own news, shedding 9% and 2%, respectively.

    Abercrombie was the story of the group, however. The New Albany, Ohio, apparel seller slid hard after it said sales for the first quarter dropped 9% to $838.8 million and that total comparable sales, including direct-to-consumer online sales, fell 15%. In its physical stores, comps sank 17%. Analysts were looking for a 7.4% decline. Abercrombie lost 9 cents a share, vs. a 25-cent loss in the same period a year ago.

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  • Editors Note: The list of top stocks is derived from the quote pages that received the most views on Yahoo! Finance by examining data for the current week. It is not, however, a list of the most searched-for tickers or company names on our site.

    1. Apple (AAPL)

    This week marked a rare bright spot in the post-Steve Jobs Apple era and a potentially watershed moment for maligned CEO Tim Cook.

    Cook headed to Congress to discuss corporate taxes. By all accounts, Cook’s performance was masterful.

    “By the end of the ordeal the Senators were falling all over themselves praising Cook, Apple and iPhones,” noted Breakout’s Jeff Macke.

    Todd Schoenberger, managing partner at LandColt Capital, believes the testimony reignites the bullish case for Apple.

    "What it brought to the attention of everybody is how much money this company is actually saving and how much money they have in cash," he said. "That's why you want to be long this stock."

    Still, Macke believes that a good showing before Congress

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  • There’s so much gloomy news about the state of prosperity in America that any break in the clouds is cause for celebration. So let’s cheer for a moment one uplifting improvement in the retirement outlook for some Americans.

    Yahoo Finance

    Fidelity, the big investing firm, reports that the average balance in the 401(k) retirement plans it administers hit a new record high of nearly $81,000 in the first quarter of 2013. That’s a 75% jump from the scary-low levels of March 2009, when the stock market bottomed out.

    Older workers are in considerably better shape. The average 401(k) balance for people 55 and over who are still working rose to $255,000, Fidelity says. That’s a 95% jump from the dark days of early 2009, when workers watched in horror as the stock market sank daily and their retirement savings evaporated.

    Woefully unprepared

    The good news ends there, however, because Americans remain woefully unprepared for retirement. Even many of those Fidelity investors — which only include people who

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