Retirement

TOPLINE China pledged on Friday to uphold its commitments under the phase one trade deal with the U.S., including purchasing of American goods like soybeans and pork, as tensions between the world’s two largest economies flare up once again. Beijing promised to implement the phase one deal despite renewed tensions with Washington. Xu Congjun/VCG via

Millions of small businesses are forgivable loans through the Paycheck Protection Program loans, but … [+] they will not automatically be forgiven. (AP Photo/Tony Dejak, File) ASSOCIATED PRESS One More Step Needed If You Want Forgiveness Did you know that if you applied for and received a Payroll Protection Program (PPP) loan, there is another

Getty Readers, it is but mere coincidence that the day after once again revisiting old-age dependency ratios in light of the coming insolvency of the Social Security Trust Fund, the CDC released its 2019 fertility statistics, in which, once again, the total fertility rate dropped even further: from 1.7295 in 2018 to 1.705 in 2019.

TOPLINE With the coronavirus causing unprecedented financial disruptions and a major shift in consumer spending, some retailers are seeing sales surge amid heightened demand but also face higher costs. Here’s what happened to major retailers in the first quarter during wide scale economic shutdowns. Retailers have seen higher demand, with online sales booming, but also

It’s worth your time to develop a solid plan for generating retirement income from your savings. Getty A few recent articles have somberly pronounced that the so-called “four percent rule” is dead, a victim of low interest rates, stock market volatility, high stock valuations, and longer lifespans. For those of you unfamiliar with the term,

Less than two months since Congress passed the CARES Act in response to the coronavirus pandemic, another massive economic relief bill made its way through the House. However, it still has an uncertain future in the Senate. The HEROES (Health and Economic Recovery Omnibus Emergency Solutions) Act is a $3 trillion bill that is designed

WASHINGTON, DC – MARCH 24: Sen. Marco Rubio (R-FL) talks to reporters after leaving a meeting with … [+] fellow Republican senators and Treasury Secretary Steven Mnuchin as negotiations continue on a $2 trillion economic stimulus in response to the coronavirus pandemic March 24, 2020 in Washington, DC. After days of tense negotiations — and

Senior women pours money out of purse Getty ‘Round about two weeks ago, I wrote that, despite projections to the contrary, the Social Security Trust Fund was at significant risk of far earlier depletion than it’s “official” 2035 projection. In the first place, the economic difficulties we’re now experiencing and might well be experiencing for

TOPLINE The market finished lower on Tuesday, following its biggest rally in six weeks on Monday, as stocks came under pressure following a STAT News report that raised questions about the trial results for Moderna’s potential coronavirus vaccine. Retail and bank stocks were hardest-hit on Tuesday. Spencer Platt/Getty Images KEY FACTS The Dow Jones industrial

On Friday, The House of Representatives narrowly passed a $3 trillion stimulus package, which included another round of direct checks, rent forgiveness, additional unemployment benefits and much more. It’s what many Democrats have dubbed an initial offer to Republicans, as the push for a second stimulus package moves to the Senate in an effort to

Man holds information about Coronavirus stimulus checks. Getty The CARES Act provided a $1,200 Economic Impact Payment, commonly referred to as a stimulus payment or stimulus check. To date, the IRS has already issued over 140 million of these payments. The majority of these payments were made via direct deposit. But there are still millions

The COVID-19 recession is likely to cost the jobs of 22 percent of middle income workers age 50 to 60 making between $48,000 to $137,730 and the jobs of 15 percent of their peers earning above that, according to a report released today. The recession will force an additional 1.1 million of these middle income

COVID-19 is changing all kinds of assumptions about retirement planning. The 4% withdrawal rate rule-of-thumb is no longer a safe bet. You can’t necessarily count on your employer matching your 401(k) contribution. And lower taxes is no longer a given once you retire. Let’s debunk one more assumption: that your Social Security benefit is guaranteed

Getty In my prior article, I discussed the hidden provision in the HEROES Act to bail out troubled multiemployer pensions, the Emergency Pension Plan Relief Act of 2020, or the EPPRA. Wholly rejecting any sort of “shared sacrifice,” the bill’s provisions not only provide unlimited federal funding to those plans without any of the usual benefit

Everyone needs to update estate and financial planning. Those living with brain disease need special … [+] considerations. Getty Introduction Covid-19 or Coronavirus has created health worries and fear for everyone. For those with underlying health issues, which include multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, or other brain diseases, those concerns are even more pronounced.

Seek advice for questionable PPP Loan “good-faith certification” Getty Just hours after the Small Business Administration issued its May 13, 2020 revision of frequently asked questions (FAQ) about the Paycheck Protection Program, experts started weighing in on question 46, “How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?” PPP

TOPLINE With the House of Representatives passing the $3 trillion Heroes Act late on Friday, political leaders have largely reacted to the legislation along party lines, with Democrats urging for immediate action in the Senate while Republicans condemned the bill and reiterated that it is dead on arrival. Political leaders had mixed reactions to the

Getty On Friday, May 15th, the SBA issued the Loan Forgiveness Application that will be used by PPP borrowers to determine and report how much of their PPP loan will be forgiven. Most readers know that the Payroll Protection Program loans are extended based upon 2½ months of payroll, health insurance and retirement plan expenses,

How are income annuities priced? It is not as hard as one might think, as the basic recipe requires just three ingredients: 1.    Mortality rates (which vary by age and gender) impact how long payments will be made. Younger people will have longer projected payout periods, which means that payout rates must be lower. 2.    Interest rates

WASHINGTON, D.C. – APRIL 14: Attendees rally on the West Front of the U.S. Capitol building with … [+] Teamsters Union retirees who traveled from across the country to voice their opposition to deep cuts to their pension benefits on April 14, 2016, in Washington, D.C. Thousands are facing massive pension cuts because of a