Inflation tends to top the list of economic risks that investors obsess most about. After all, runaway inflation has devastated some economies over the centuries. Corralling inflation and keeping expectations well-anchored have been key mandates for most central banks for decades. However, inflation expectations are not uniform across age groups. Surveys from the New York
Retirement
Studies suggest that most—at least 70%—of financial planning recommendations aren’t implemented. While we can hypothesize a number of singular reasons why this number might be so ugly, I’ll suggest that it’s actually a confluence of (at least) four factors that have led to this failure, two that are systematic and two that are psychological: 1) Sales-orientated
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 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 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.
Qualified charitable distributions (QCDs) can play an important role for charitably inclined owners of tax-deferred individual retirement accounts (IRAs) who are over age 70 1/2. Some taxpayers use QCDs when they are subject to mandated RMDs (required minimum distributions). How do QCDs work? The Issue Forbes reader D.E. wrote to ask: “I have read your
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
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
Will you still be relevant when you’re no longer working? That’s something many people wonder as they near retirement. While the simple answer is yes, you may find that the toughest audience to convince is yourself. That’s because grieving the loss of a workplace identity is far more common than most people think. While we
Readers, when I first read that retirees and employees in the Chicago Police pension system were pursuing a “forensic audit,” that seemed like nothing more than wishful thinking. It seemed plainly obvious that the plan’s massive underfunding was explained by the lack of a commitment to fund the plan properly, and by years of delusion
My students, many of them from other countries, ask why America’s Labor Day is in September when most other nations celebrate Labor Day on May 1. Historian William Adelman writes the irony is that the international socialist movement declared May Day Labor Day to honor American labor leaders hanged for conspiracy in the Haymarket Riots/Protests
By Kelli Thompson, Next Avenue For nearly eight years, I worked as a hiring manager and HR professional for financial services and technology organizations. My experience confirms what a lot of emerging data on the pay gap reveals — women are often more hesitant to apply for well-paying jobs, and negotiate less often, than men. As
Estate planning discussions often give the impression that every senior in America is married with two or more kids. That’s not true, of course, and those who do not fit the profile need estate planning guidance at least as much as the stereotypical couple does. Unmarried people should put a priority on developing the traditional estate
Most people look forward to retirement. It’s an opportunity to spend a lot of time having “fun” – something that a hectic, executive-level job never affords. For others, it is frightening. What will you do with all of the free time? Once you get within 10 or 15 years of retirement, these questions pop up
There are plenty of things in life that are complicated, but retirement planning shouldn’t be one of them. Don’t get me wrong, I’m not saying that the calculations, data analysis, and other back-office activities are simple. My point is that the process isn’t as complicated as many advisors make it. Some financial professionals struggle to
When Congressional Democrats began the legislative process to enact President Biden’s Build Back Better agenda last month, Sen. Bernie Sanders insisted on adding a costly expansion of Medicare benefits to the bill. But a new report from the program’s trustees makes clear that this expansion would be unwise: Medicare is already expensive and growing faster
Another week… more disturbing revelations about America’s severely underfunded state and local government pensions… another of a new breed of forensic investigations funded by concerned pensioners whose retirement security is at risk. This week, the Chicago Police Department Pension Board Accountability Group—comprised of retired and active Chicago police officers and their dependents— released the scathing
By Mark Ray, Next Avenue If you hate Zoom meetings, imagine how Heidi Carles, 56, of Bernville, Pa., feels. Carles, an auction lead, cataloger and photographer for an online auction company, has hearing loss, which makes videoconferencing challenging at best. Early in the pandemic, Carles often struggled during calls that included dozens of co-workers. Between the