Here's an interesting statistic: Some 72% of retirees say one of their biggest fears is becoming a burden on their families, according to a 2021 survey by Age Wave and Edward Jones. Both before and during retirement, what steps can you take to avoid burdening your loved ones in the future? Here are a few suggestions:.
Even the father of the 4% retirement rule, William Bengen, admits that it’s time to rethink that rule.
Social Security recipients are likely already aware that their payments will be 8.7% higher starting in January. On average, this translates into a $140 monthly increase. Retirees had become used to miniscule Social Security cost of living increases which were often largely offset by increases in their Medicare Part B premiums.
Kansas City- based James B. Nutter& Co., one of the nation’ s largest private mortgage lenders that since its founding in 1951 helped hundreds of thousands of Americans buy their first homes, has announced that it is going out of the home loan business. The alleged misconduct occurred from 2008 to 2010, the suit said, and resulted in the Federal Housing…
The Federal Reserve of St. Louis has released a paper on pandemic unemployment benefits, focusing on effects by age group. In many states, including Nevada, governors ordered certain businesses to close. The Federal Pandemic Unemployment Compensation program boosted jobless checks by $600 a week.
Benefits make up more than 30% of the typical job’ s compensation, according to the U.S. Bureau of Labor Statistics. But figuring out what your benefits are worth isn’ t always easy. You may need to do a little digging to find how much your employer contributes toward health insurance, retirement plans and other perks.
The overwhelming majority of employees interviewed describe their level of debt as a problem, according to the 2022 Workplace Wellness Survey published by the EBRI and Greenwald Research.
Oct. 28— A former Sullivan County pastor serving 54 years in prison on securities fraud after leading a massive Ponzi scheme is seeking to have his conviction and prison sentence set aside. On Thursday, his petition was heard in Sullivan County before Greene County Superior Court Judge Dena Martin, who is serving as special judge in the case.
Buzz: Mortgage rates just passed 7%, a first since April 2002, as the Federal Reserve continues to wage war on sky-high inflation. Source: The average 30- year fixed-rate mortgage comes from a weekly survey of lenders by Freddie Mac. Let's jog your memory back to April 2002….
A year of skyrocketing inflation and growing recession fears have taken their toll on American consumers, reinforcing a need for personalized financial advice rather than supposedly universal rules on household spending.
Further rises in interest rates and inflation are the biggest concerns U.S. pension funds and other U.S. institutional investors have about the fixed income market.
Although the Social Security and Medicare changes for 2023 are the exception rather than the rule, they are a welcome opportunity for financial professionals to engage with clients around the long-term trajectory of these expenses and add value by developing savings plans that ensure this critical need is met.
Inflation is at a 40-year high and workers must plan for a retirement that could last more than 30 years. That leads to the question: Does the 4% rule for retirement spending still work in today’s environment?
My biggest early-career mistake was not intentionally networking. Intentionally is a critical word in that sentence: effective networking requires deliberate action rather than hoping to meet people in passing.
The impact of 40-year high inflation is hitting savings accounts as a majority of Americans say they are stopping or reducing retirement savings because of inflation.
New York and New Jersey rank 49th and 50th, and the District of Columbia tied with California for 48th. Gavin Newsom likes to boast California is a better place to live and work than Texas and Florida. The business tax climate rankings put Florida fourth and Texas 13th.
Middle District of North Carolina. GREENSBORO– The former chief financial officer of a company in High Point, North Carolina, was sentenced today in federal court in Greensboro for wire fraud, announced United States Attorney Sandra J. Hairston of the Middle District of North Carolina. SAMUEL ALLEN MOUZON, age 62, of Lexington, North Carolina, was sentenced to a…
COLUMBUS, Ohio– After years of waiting, millions of Americans will soon be seeing their payouts following a class-action lawsuit against Equifax. The exposed information included names, Social Security numbers, birthdays, driver's license numbers, and 200,000 credit card numbers. The settlement offered either a $125 payout or 10 years of free credit…
Roughly 70 million Americans receive benefits from Social Security, the majority of which are seniors who will see a boost to their monthly benefits starting in January 2023. With the average Social Security benefit at $1,657, this means that social security beneficiaries will see an increase of $144 per month and in some cases, even more.