Retirement

By Chris Farrell, Next Avenue ADVERTISEMENT Britney Spears’ newsy and disheartening conservatorship nightmare has brought to public consciousness the immense power that court-ordered guardians wield over their charges and raised alarms about the potential for abuse. And now — finally — thanks to the sad story of the 39-year-old pop star, efforts are underway to tackle the longstanding

The email comes as a notification that you have been charged a specified amount for an item or service you never ordered. It is not a bill requesting payment, which you would immediately delete. Rather it is a notification of a payment that allegedly you have already made through a bank deposit or credit card.

The BiPartisan Policy Center (BPC) recently sent President Joseph Biden a letter that urged him to create a retirement security task force. The aim of the group would be to examine solutions to common retirement risks, such as savings shortfalls, low interest rates, and soaring costs for health care and long-term care. The letter was

Today’s column addresses questions about whether it’s possible to reapply for a retirement benefit so it starts earlier, the procedure for switching from a spousal benefit to a retirement benefit at 70 and the earnings test’s potential effects on survivor’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and

The Roth IRA Peter Thiel used to amass billions in tax-free dollars has renewed interest in using tax-advantaged retirement plans as a means for accumulating wealth. What hangs up entrepreneurs is they don’t want to set aside wealth only to have it be taxed away. Whether you think of this as greed or good business,

The economy is in a good spot right now, but Congress needs to act quickly to strengthen the recovery further. Millions of people are still looking for a job and face financial hardship such as evictions without continued strong economic growth. At the same time, the pandemic has changed face again with the Delta variant

Jeff Schneble knows that most people don’t hear the term 401(k) and get excited — but he does. For the CEO of Human Interest, it’s about the opportunity to give more people access to a retirement savings and investing plan. His startup builds retirement plans catered to small and medium-sized businesses left behind by outsized

Do you need a financial plan? Maybe not. A full written financial plan is a robust analysis as of one point in time. This differs from general financial planning, which the Certified Financial Planner Board describes as advice on how to achieve short and long-term financial goals. You can’t have a financial plan without financial

Lawyers may throw around the term “diminished capacity” in dealing with elders because they have to be aware of elders signing things they may not understand. Lawyers are supposed to protect against that. Financial advisors use the term in a general way, suggesting that some people with this may need help from trusted others in

Recent reporting with reminders about the potential power of the “Mega Backdoor Roth” conversion strategy in a 401(k) plan has been compelling. Who wouldn’t like to contribute as much as $58,000 to their 401(k) and not have to pay taxes in the future? Like most things in life, there are rules, caveats, and limitations. Unfortunately,

Conventional wisdom says that the reason for public sector pension plans’ poor track record on funding levels is that benefit levels are simply too high, causing politicians to kick the can down the road perpetually. In Illinois, for example, “Tier 1” teachers can retire at any age, after 35 years of service, without any reduction

Last week, The Washington Post lifted up a national priority — closing the retirement wealth gap in the U.S. But WaPo pulled its punches. The urgency to help the millions of middle class Americans who will be poor in retirement could cause political instability and invite backlash. Too few Americans have a direct stake in national economic

Recently, I’ve spoken with several people who are worried about losing some or all their Social Security benefits because of a divorce. This concern points to the confusion surrounding spousal benefits for Social Security. Divorce and subsequent marriages may alter your Social Security claiming options, but will a divorce mean your ex-spouse can take some

Two types of early retirements have become more and more prominent through the pandemic recovery. Despite the number of job openings reaching the highest level since the Bureau of Labor Statistics began tracking the measure in 2006, labor force participation among those 55 or older continues to decline. This indicates that more people over the

The past 15 months haven’t been easy for anyone, but older workers experienced a unique set of circumstances that increase their risk of financial challenges in retirement. As the American population continues to age, the outcomes of those in the workforce age 55 and older must be front-and-center in the minds of policymakers in charting

As people age, a top priority is remaining independent and healthy enough to keep living on their own. So what’s the financial pathway to making that happen? Through the years, most of us make financial mistakes that we recover from. But here, we want to talk about one big bungle many people make that does have lasting effects: spending money from their retirement accounts before they retire.  Sometimes, as we all know life happens, hardship hits, and you

By Richard Eisenberg, Next Avenue Editor A headline on Stanford University Business School’s Insights site caught my eye recently: “Workplace Equality for All! (Unless They’re Old).” The piece described fascinating research by NYU’s Michael North and Stanford’s Ashley Martin which found that workers who openly oppose racism and sexism were still prejudiced against older workers. As

By Kerry Hannon, Next Avenue As employees inch their way back to the office, are employers acknowledging that caregiving for aging parents, spouses, partners and close relatives is a front and center concern for their workers? It looks like it. At the very least, based on my reporting talking with employers, workers and benefits professionals, the

By Jeanette Hurt, Next Avenue Pop music guitarist, producer, arranger and songwriter Neil Giraldo, 61, was working on a screenplay about local musicians and their struggles in 2016 and one of his partners in the endeavor suggested they find a spirits company to sponsor the movie trailer. Instead, Giraldo told his partner, “Why don’t we start

Every two years, the National Institute on Retirement Security surveys Americans to measure their sentiment about retirement. The most recent polling again found that most Americans remain worried about retirement.   More than two-thirds of Americans (67 percent) say the nation faces a retirement crisis. And, more than half (56 percent) are concerned that they