Advisor News

Congress still has time to make fixes to shore up the retirement system but hasn’ t shown any such resolve. The Social Security system has two trust funds that hold surplus money accumulated in prior years— one for Old Age and Survivors Insurance and one for Disability Insurance. The much smaller DI program isn’ t expected to run out and combining the two funds would…

A new NerdWallet survey found 37% of Americans have been charged a late fee on their bills over the past 12 months. During the first quarter, the share of credit card debt that was more than 90 days overdue rose to 10.7%, a 14- year high, according to the Federal Reserve Bank of New York. Of those surveyed by NerdWallet, 16% said they've used a credit card to pay for…

By Paul Krugman/ The New York Times. And I worry that this condition may even be affecting the Federal Reserve, leading it to keep interest rates too high for too long. This month, a preliminary release by the widely followed University of Michigan survey of consumers reported a significant fall in consumer sentiment.

A new research report, published today by the Employee Benefit Research Institute, finds that among working Americans ages 55 or older, the labor force is aging.

63% of Americans are more worried about going broke before dying than they are about death, according to a study by Allianz Life Insurance Company of North America. That's a 6% increase since 2022. High inflation contributes to these concerns, as do worries about the future of Social Security.

For millions of Americans, the definition of retirement has changed. A new report from Fidelity shows that most Americans are thinking more about the active lifestyle they want during their retirement. "As more people rethink retirement, with new goals such as living abroad or starting a business, we're encouraged to see a growing understanding of the value in…

MEMPHIS, Tenn.- The catalyst behind the failed gambit to sell off the iconic Graceland property in Memphis is a mystery. So it's a bit surprising on that end, "said Nicole Forbes Stowell, a business law professor at the University of South Florida's St. Petersburg campus. Naussany Investments and Private Lending said Elvis Presley's daughter, Lisa Marie Presley,…

May 27— This story was originally published in June 2021. You'll also want to monitor your anticipated Social Security benefits. "To qualify for social security benefits, you earn credits throughout your work history," said Zach Means, CEO of Means Wealth Management, a financial advising firm in Bangor.

More older employees choose to reduce theirwork hours and phase into retirement. In 2024, people 50 and older can contribute up to $8,000. Increaseslifetimeincomebydelaying Social Security: The extra income you earn fromworking part time can help you afford to postpone claiming Social Security benefits and could boost your monthly payout when you…

The Alliance for Lifetime Income released a study with an eye-catching headline: Two-thirds of peak baby boomers are not financially prepared for retirement. According to the study, more than half of these soonto-be retirees will rely primarily on Social Security for income, whichwas intended to replace about40% of annual pre-retirement earnings.

Equitable Holdings, Inc., the leading financial services holding company of Equitable, AllianceBernstein and Equitable Advisors, today announced that Peter Tian has been named Group Treasurer, effective June 3, 2024. Tian will report to Robin M. Raju, Chief Financial Officer of Equitable Holdings, and join Equitable’ s Operating Committee.

Have you ever thought that saving too much money for retirement could be a problem? In reality, saving too much money is never a problem; however, when you have a lot of money, you often have to pay a lot in taxes— which can be a problem for some investors. The investor is taxed on every dollar taken out; therefore, they might need to withdraw $120,000 to $130,000 for every…

Here's the basic tax information on some key sources of retirement income:· Social Security- Many people don't realize they may have to pay taxes on their Social Security benefits. You'll want to check with your tax advisor to detennine whether your income reaches the threshold where your Social Security benefits will be taxed. The Social Security…

Your credit score remains an important financial indicator throughout retirement, influencing various aspects of your financial life and overall well-being. While retirement often involves a shift in financial priorities, maintaining a healthy credit score can provide essential benefits and opportunities during this life stage.

The California- based company reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year. Nvidia also announced a 10- for-one stock split effective June 7 to make owning shares more accessible. Nvidia shares were up nearly six percent to $1,003.50 in after-market trades.