Between the SECURE Act’s passage at the end of 2019 and the CARES Act’s passage amid the coronavirus pandemic in 2020, Americans might be struggling to keep all of the changes to retirement and tax laws straight. When it comes to retirement planning there have been a number of changes to how you can access
Retirement
By Dick Friedman, Next Avenue Contributor Residents of Rossmoor, a Northern California retirement community, prior to the pandemic Rossmoor.com In normal times, Rossmoor, the 1,800-acre “active senior community” where I live, in Walnut Creek, Calif., is a cacophony of sound. There are the crack of the mahjong tile, the thwack of the pickleball hitting a
Getty If you’re like many investors these days, you’re warily eyeing your portfolio, wondering where the next dividend cut will come from. Fear of dividend cuts is reasonable, even if you hold the Dividend Aristocrats—the 63 S&P 500 firms that have raised their payouts for 25 years (or more). This club includes well-known names like
Getty Elder financial abuse is extremely prevalent in our society today. According to a 2014 study by Allianz, 5% of seniors report having lost money to scams, sustaining average losses of $30,000. This equates to $69 billion in total losses for seniors alive in 2014 due to financial abuse. The exploitations can take many forms,
Stock market virus fear or bull and bear economic crisis and sick financial health as a business … [+] recession concept or metaphor for uncertainty in the economy investing sentiment in a 3D illustration style. Getty Recessions are a normal part of the business cycle, albeit some are more severe than others. The current recession
It has become painfully clear, as unemployment surpasses 30 million and estimates find that the current quarter we’re in could see gross domestic product drop by over 30% – which would be the worst fall since before World War II – we’ve entered a deep recession. And with no vaccine available to free people from
TOPLINE With Russia recording a new daily high in its number of new coronavirus cases and deaths on Tuesday, President Vladimir Putin extended the country’s lockdown measures for another two weeks, warning that the worst of the outbreak is still to come. “We must prepare for a tough road ahead,” the Russian president said. Alexei
Getty Why are we having such a hard time, collectively, getting a handle on coronavirus infections? Why haven’t we had the success South Korea has had at tracing contacts, or that Germany had in testing? After all, we’re The Greatest Nation on Earth, or something like that. We landed on the beaches of Normandy and
COVID-19 is particularly dangerous to many of our nation’s most vulnerable: those living in nursing homes. In some places, a state’s death rate from the disease is about 40-50% of all deaths from this pandemic. According to the Washington Post, the World Health Organization reported that almost half of the deaths from COVID-19 in Europe
Getty Images New York Governor Andrew Cuomo recently called the gig economy “abusive” and a “fraud” and proposed new rules to regulate the growing sector. The fear is that companies falsely call their workers independent contractors to skirt protections and benefits extended to traditional employees. A new report by my colleagues at the New School’s
Getty As I observed in my prior article, among Pete Buttigieg’s proposals for retirement is a “public option” 401(k) plan. According to his white paper, employers would be required to facilitate a payroll deduction and a worker choosing to participate at a 1.5% level would trigger a mandatory 3% employer contribution. He pledges that the
If you have a single aging parent who is lonely and wants companionship, should you encourage your parent to try online dating? It depends. Going online and having fun GraphicStock Technology in nearly every aspect of life promises to make things better. Internet dating sites abound, with at least five targeted particularly to seniors, those “over
Understanding the relationship between bond risk and time to maturity and duration of a bond provides the basis for understanding the bond yield curve. The yield curve shows the yields to maturity for a series of bonds—typically US Treasury bonds—with the same credit quality but different maturity dates, along with the term structure for interest
Getty I hope last week’s Iran head-fake didn’t have you thinking about buying so-called “safe” dividends like Treasuries. Because these tired income standbys aren’t safe at all! With your nest egg yielding a pathetic 1.9%, you’re guaranteed losses, with inflation running at 2.1%. So today we’re going to make a simple contrarian move that will:
By Kelly K. James, Next Avenue Contributor Two friends having conversation at work, woman in her 50s wearing glasses smiling and facing female … [+] manager, agreement, support, collaboration Getty When Kathy Pauss retired from her job as a school secretary a few months before turning 65, the Downers Grove, Ill. resident thought it was
CHICAGO, IL – OCTOBER 01: Illinois gubernatorial candidate J.B. Pritzker speaks during a round table … [+] discussion with high school students at a creative workspace for women on October 1, 2018 in Chicago, Illinois. Pritzker was joined by his Illinois gubernatorial Lieutenant Governor candidate Juliana Stratton and former Secretary of State Hillary Clinton as
When it comes to retirement planning, you may have heard a lot about the benefits of tax-advantaged retirement accounts, how to choose investments, and maybe some of the details of any pension plans that you’re fortunate enough to have. But what about Social Security? After all, it provides the majority of retirement income for many
Getty On twitter, I joked that I was drafting an article I was tempted to call, “Beating a Dead Horse Into The Ground: More Historical Context On Pensions Than Any Reader Is Remotely Likely To be Interested In.” But — I’m sorry to disappoint you — I suspect this will not be the last time
null Getty You’re probably familiar with the idea of a work sabbatical: a paid leave, usually from one month to a year, often to study or travel. But what about a soulbbatical? Never heard that word? It’s OK. Shelley Paxton, author of Soulbbatical: A Corporate Rebel’s Guide to Finding Your Best Life, made it up
Esther Meyers, right, shows a photograph of her then–teenage mother Rachel Kane to her to jog her … [+] memory as her twin sister Sarah Schultz looks on.(Photo by Brian VanderBrug/Los Angeles Times via Getty Images) Los Angeles Times via Getty Images Family members and friends are the bedrock of our system of personal care