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1. USA senior citizens in 48 states face serious income shortage. 2.Overdraft fees cost bank customers hundreds a year



"We found that many senior citizens are significantly underfunded and risk running out of money," said Mike Sante, the site's managing editor.
Only seniors in Nevada and Hawaii have median annual incomes that meet the savings benchmark commonly recommended by financial planners. Typically, planners recommend that retirees save enough to replace at least 70% of their pre-retirement income.
Other states where seniors came close to that goal include the sunbelt states of Arizona (68.1%), New Mexico (66.9%) and Florida (66.9%), according to the study, which divided the median household incomes for residents 65 and older by the incomes of those 45- to 64-years old in each state to come up with income "replacement rates" for seniors.
In contrast, Massachusetts seniors were the worst off, living on a meager 45% of the income of their pre-retirement counterparts, while North Dakota, Rhode Island, New Jersey and New Hampshire rounded out the bottom of the list, all with replacement rates of around 50%.
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Overdraft fees cost bank customers hundreds a year

overdraft
On average, overdrawing an account costs customers $225 in fees per year, according to a new study from the Consumer Financial Protection Bureau.  Overdraft fees are sparked when a customer overdraws their checking account by making a purchase with their debit card and the bank covers the transaction instead of denying it, while non-sufficient fund (NSF) fees kick in when a check or automatic payment overdraws the account.

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