Advisor News

Despite workforce participation rates that are among the nation's highest and record low unemployment, Minnesota's labor force remains more than 30,000 people behind where it was prior to the pandemic— in large part because of a spate of retirements post-COVID. "Many people retired during or immediately after the pandemic when they had the chance to do it,"…

The Virginia Retirement System is hoping for a 5% return on its investments in the fiscal year that ended June 30, after finishing the first nine months in the red. Investment earnings had fallen by 1.8% through March 31, when the state retirement trust fund held $102.6 billion, but a month later, VRS had added $1 billion, boosting the return to 4.2% through April 30.

PLAISTOW— When you retire, you hope that you'll be able to anticipate the events that could cause you financial challenges down the road. For one thing, most retirees are probably aware that, even if they remain healthy, their health care costs may rise, even if they're covered by Medicare or Medicare Advantage. In fact, 63% of retirees think the biggest financial…

Business confidence remained flat during June amid a resilient economy, stubborn inflation, a pause by the Federal Reserve and a shortage of workers across almost every industry. The mixed reading reflects an economy that continues to defy expectations in the face of 10 interest rate increases by the Federal Reserve. Latinas413 has received a $24,800 grant…

Now is a good time to stop: Check fraud tied to mail theft is up nationwide, according to a February alert from the Financial Crimes Enforcement Network. This is partially due to the effects of the pandemic, when thieves targeted government relief checks in the mail.“ Fraudsters just went back to tried-and-true potential attack factors that seemed to be working,”…

The Securities and Exchange Commission today charged former U.S. Army financial counselor Caz L. Craffy for defrauding Gold Star family members and others by engaging in unauthorized trading–including of life insurance and family survivor benefits they received following the death of an active duty service member–and for recommending excessive…

Tracked by the U.S. Federal Reserve, America's collective savings rate currently stands at just 4.6%. This means that, on average, Americans are saving only $4.60 on every $100 they earn after paying taxes. In June 2022, the personal savings rate reached a post-pandemic low of just 2.7%.

Financial experts are bracing for more interest rate hikes by the Federal Reserve over the remainder of 2023. Any interest rate revision— either increasing or decreasing— can cause a ripple effect throughout the economy. Accordingly, the Federal Reserve's actions will probably exert at least a moderate influence over financial choices you may make at home…

GREENVILLE, N.C– Inflation has been high in the United States for two years and although it has been easing slowly, it has eaten into people's earnings and savings, especially for those paid the least. Low-income families are hurt more by inflation for a number of reasons, according to the Federal Reserve Bank of Dallas. To determine which workers have the bleakest…

According to the U.S. CCnters for Medicare and Medicaid Services, the U.S. spends approximately $3.8! trillion a year on health care, or nearly $11,582 per person. Planning for Long-Term Care Costs A report irom the U.S. Department of Health and Human Services estimates that 770% of people turnings 65 will need some type of long-term care services in their…

When a loved one moves to a nursing home, family members are often shocked to learn that the bill is not paid by Medicare or health insurance. In Connecticut the average nursing home bill is over $204, 000 per year. That's when seniors are on the hook to pay the $17, 000 monthly bill themselves.

The Bureau of Labor Statistics, which measures the Consumer Price Index, reported the 12- month inflation rate for May at 4.0 percent, down a whole point from the 5.0 percent rate in April. Inflation had peaked in June 2022 at 8.9 percent, which was the highest inflation rate in 40 years. The Federal Reserve has been raising interest rates to slow the economy so that…

Jul. 2— Q: I've heard a recent law, known as Secure 2.0, created some interesting possibilities for leftover money held in 529 plans for college savings. A: Among the many changes that Secure 2.0 created to enhance retirement savings, Congress did establish some new rules for college savings plans, commonly known as 529 plans. The overall limit for a 529 plan-to-Roth…

Among the affected banks are Bank of America Corp., PNC Financial Services Group, Truist Financial Corp. and Wells Fargo& Co., all with a major Triad presence. The stress-test scenarios are created annually by the Fed, along with the Federal Deposit Insurance Corp. and the U.S. Office of the Comptroller of the Currency. For example, for the first time the Fed board "…