Retirement

The pain of inflation is often harshest on the budgets of retirees on fixed incomes. The only bright light of the recent spike in the consumer price index is the potential for a more significant Social Security cost-of-living adjustment (COLA) this year. Estimates of the Social Security COLA in 2021 (for 2022) have been in

In 1974, the Oldsmobile Ninety-Eight was a popular car – and the Employee Retirement Income Security Act (ERISA) was enacted to govern the US pension system. A lot has changed since 1974. Oldsmobile no longer exists, for one thing. The “typical” American family comes in many more shapes and sizes. And American workers are unlikely

Most people follow the straightforward path of real estate: We buy, we own our home, we live there for a number of years, the house appreciates in value, and we sell it. Do we pay taxes on that appreciation? For most Americans, the answer is no. This is due to Internal Revenue Code, section 121,

Social Security is a program you get the joy of paying into your entire working life. The prospect of this valuable retirement income stream not being there once you leave the workforce is alarming to many Americans. As it stands now, it is not a question of “if Social Security will run out of money” but

For some adult children who have unpleasant, oppositional aging parents, there is a strong motivation to stay out of their affairs. That’s understandable. No one likes to be yelled at and rejected. You want self-protection. But unwillingness to confront impaired aging parents can carry an extreme price tag. This is a real story with the

For months, multiemployer pension plan sponsors, participants, and their advocates have been waiting to see how the PBGC (Pension Benefit Guaranty Corporation) would interpret the American Rescue Plan’s legislation providing bailout money to multiemployer pensions, the The Emergency Pension Plan Relief Act of 2021 (EPPRA), which, as regular readers will recall, left multiple issues very

By Nancy Collamer, Next Avenue With the job market heating up — a historically high 9.3 million job openings in the U.S. in April — what should you know about getting hired if you’re looking for work? Will virtual interviews continue? Is remote work here to stay? Are diversity and inclusion efforts just a fleeting fad?

By Joe Seldner, Next Avenue If 40 million Americans were suffering from the same severe problem, you might think it would be the subject of considerable media attention, a host of government programs, infusions of business capital and a hot topic of national conversation. That is certainly what I thought several years ago when I began

By Sheila Weller, Next Avenue Dana Coen has had, by all measures, a splendid career as a TV co-executive producer for Fox’s “Bones” and CBS’ “JAG.” He’s been a story editor and a staff writer for hit shows from “General Hospital” to “The Wonder Years,” a playwright, stage director and stage actor. And he currently administers

A number of Forbes.com readers have some specific questions about Advance Child Tax Credit (CTC) payments, which are set to begin in mid-July. The IRS has some answers. New Arrival? Normally, the IRS would use a taxpayer’s 2020 or 2019 tax return to determine CTC eligibility, but what about a baby born in 2021? Readers

Once upon a time, in the (somewhat mythical) past of traditional defined benefit pensions, your employer protected you from the risk of outliving your money in retirement, by acting, more or less, as an insurance company providing an annuity. With that benefit receding into the past, many experts have been hoping that Americans with 401(k)

A popular retirement planning product, particularly for higher tax bracket individuals, is cash value life insurance. In addition to providing liquidity in the event of an unexpected death, the cash values represent additional lifetime protection. The funds can be used as a volatility buffer during down markets, plus they can be a source for tax-free

Millions of Americans have switched jobs during the coronavirus pandemic. Beyond that, some 12,000 baby boomers have been entering retirement every day, which has led to a flood of 401(k) rollovers. Along the way, many workers will make one or more of the following seven 401(k) rollover mistakes. The result of a 401(k)-rollover mistake can be

For almost two years now, those who help Medicare beneficiaries find plans have been using an updated Medicare Plan Finder, a tool that does not do all the things its predecessor, the Legacy Plan Finder, did. It appears the Centers for Medicare and Medicaid Services (CMS) decided it was time to work that same magic on Physician Compare. 

A handful of the largest U.S. public pensions, such as CalPERS and STRS Ohio, facing increased public scrutiny claim that their compliance with voluntary standards developed for the money management industry—the Global Investment Performance Standards—enhances their integrity and transparency. Pension stakeholders should not be fooled. In 2018, California Public Employees’ Retirement System (CalPERS), the largest

Every conversation I have with operators of senior living facilities and home care agencies quickly pivots to one issue: A desperate shortage of care workers. The problem isn’t new. Low pay, low status, and physically and emotionally demanding work has plagued the long-term care industry’s ability to hire for years. Highly restrictive Trump-era immigration policies

As you transition into retirement, it’s a good idea to adopt strategies that help protect you from significant financial losses in your later years due to mistakes, financial exploitation from unethical friends and relatives, and fraud.  The recently released “Thinking Ahead Roadmap” helps you select a financial advocate who can assist you in managing your money

The Great Resignation and the future of work is just one indicator of something larger happening in a post-pandemic society – we are undergoing a Great Reframing of life’s choices and behaviors redefining how we view work and everything else. Keith worked for the same real estate firm for many years. “I was their numbers

Now that we’ve celebrated our national Independence Day, it’s a good time to contemplate being able to celebrate your own Financial Independence Day. Financial independence is a state of being in which you don’t have to work to pay your living expenses. You may decide to retire or you may choose to work because you

Nice problem to have: a fat retirement account along with potentially taxable gains. This calculator tells you which asset to liquidate. You’re retired, and living off two piles of assets—a taxable brokerage account and a tax-deferred IRA. Which should be cashed in first? For a lot of people, the answer is simple: Use up the