Retirement

On this Labor Day, let’s talk about how Social Security protects workers’ old age security and how we can keep Social Security robust and delivering for all of us. Social Security turned 87 this year, and despite persistent challenges and threats, the program is holding strong because of its efficiency, political support, flexibility, and its

Topline The stock market tanked on Friday despite the August jobs report coming in slightly lower than expected and dropping significantly from last month, which did little to ease investor concerns about more aggressive interest rate hikes from the Federal Reserve plunging the economy into a recession. Key Facts Stocks gave up gains in the

The core of US hegemony is the role of the US dollar as the only world-wide acceptable means of payment. But China would like to supplant the dollar, and the US Congress can make it easy for them — by its inaction. If Congress fails to modify the existing Federal debt ceiling, sometime in October

The US is currently experiencing an uptick in inflation with CPI rising 5.3% in August. For many, this is inflation troubling while others see it as transitional. However, Social Security recipients may be getting an unexpected boost from the rising prices. Social Security benefits are indexed to inflation. Historically, Social Security benefits prior to 1972

What’s a “hidden” 401(k) fee? As the name suggests, it’s likely one that’s not readily disclosed or easily accessible. If you use this definition, almost all fees are hidden because they’re too hard to find. “The plan sponsor/employer does receive an annual fee disclosure,” says Stuart Robertson, CEO of ShareBuilder 401k in Seattle. “However, this

                              Romance scams surged for seniors during the Covid-19 pandemic, the Senate Aging Committee was told today. Losses reported to the Federal Trade Commission alone by the elderly from phony suitors rose to $139 million last year from $84 million in 2019. The loneliness and isolation during the pandemic made the elderly particularly vulnerable because

On August 31 the Trustees of Social Security and Medicare finally issued their 2021 annual report. The news wasn’t good, but not as bad as many expected. Normally the trustees issue their annual report sometime in the Spring. Last year it was issued April 22. This year the actuaries apparently spent more time massaging the

Parental leave has been on the agenda not merely of Democrats but also of moderate Republicans for quite some time. To be sure, Republican proposals have been far more restrained — Marco Rubio’s ill-fated 2018 proposal to allow parents to “borrow” from their Social Security benefits never went anywhere, but at about the same time,

By Richard Eisenberg, Next Avenue Editor We’ve all known that Covid-19 has taken a cruel toll on the health of older Americans. Now, a new study from The Commonwealth Fund foundation finds that the coronavirus has been equally brutal financially. In fact, the 2021 International Health Policy Survey of Older Adults shows Americans 65+ have been facing greater

By Paul Irving, Next Avenue We learned from the 2020 U.S. Census that the fastest growing metro area in the nation is The Villages, a master-planned retirement community in central Florida. In a demographically changing and urbanizing America, this dominantly white, politically conservative stronghold bucked the trend as retirees lured by warm winters, pastel-hued homes, golf

By Richard Eisenberg, Next Avenue Editor Rudyard Kipling famously wrote: “If you can keep your head when all about you are losing theirs…” And that about sums up a key rule for investing: Make your decisions about when to buy and sell and what to buy and sell based on thinking rationally, not emotionally. It isn’t easy. But my “Friends

The Federal Reserve Bank of New York released some fascinating statistics on how workers view their economic standing. The NY Fed’s Labor Market Survey finds people looking for work are more confident they will get a job offer in the next four months than they were a year ago. Reservation Wages—A Revealing Human Attitude More good

The Social Security OASI Trust Fund for retirement benefits is projected to be exhausted by 2033, according to the summary of the Annual Social Security and Medicare Trustees Report that was released in August 2021. That’s one year earlier than what was projected in the 2020 trustees report. Does this mean that in 2033, retirees will receive nothing from

State and local government pensions assure workers and retirees that they enjoy the same protections as the comprehensive federal law, ERISA provides to corporate participants. That’s simply not true. Don’t count on state law to protect your retirement security. It has been said that the Law is a blunt instrument, incapable of dealing with all

Public pensions facing growing public scrutiny and criticism over mismanagement of investments are increasingly resorting to “pension theatre.” Fully two and a half months after my firm, Benchmark Financial Services released a report commissioned by the Ohio Retired Teachers Association entitled “The High Cost of Secrecy: Preliminary Findings of Forensic Investigation of the State Teachers

By Kerri Fivecoat-Campbell, Next Avenue I still get excited seeing the quaint red envelope with a DVD in my mailbox. That’s because I live in a rural Ozark Mountains home in Arkansas and can’t get internet access to stream films or TV shows. I can barely load social media pages on my computer. I’m hardly alone.

By Nancy Collamer, Next Avenue As someone who frequently writes about careers, I’m all for networking. But even I get frustrated by the number of otherwise competent professionals who ask for my advice by requesting a networking meeting the wrong way. You know, those vague “Can I pick your brain” emails? That’s unfortunate, because when

With the pandemic still upon us, are you thinking about your retirement savings? Let me tell you why you should. Time is a wasting asset. And, there is no time like now (National 401(k) Day) to take action.   National 401(k) Day, which originated with the Plan Sponsor Council of America, reminds us to do

By Richard Eisenberg, Next Avenue Senior Editor With bank accounts and CDs paying bubkis (Yiddish for nothing) and bonds yielding not much more, the stock market has been about the only way to earn something on your money lately (up 18% overall in 2021). But what if you’re insecure about investing in stocks? Then, you might

The Conference Board’s star economist, Dana Peterson maybe humming that catchy tune “Take that Job and Shove it.” Why? The business group reports that workers are quitting at record rates, so employers must scramble even harder to fill out their workforce. Michael Papadopoulos, Associate Economist at The Conference Board, (in a Conference Board email blast)  reports curious