Retirement

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

By Al Emid, Next Avenue There’s a growing phenomenon in the stock market — “fad investing” — and it’s something you don’t want to do with your money. Fad investing means buying a stock just because some type of activity is trending, regardless of the prospects of the actual company issuing the stock or any serious underpinnings behind

Today, the U.S. retirement infrastructure largely is based upon individuals saving on their own for retirement during their working lives. For this type of system to work, Americans need to accrue a large amount savings by the time they retire. Unfortunately, most Americans aren’t amassing sufficient assets to maintain their current standard of living in

With the stock market seemingly hitting new record highs every day and mortgage rates near record lows, you may be wondering if you should pick up a second home for your future retirement. Perhaps, a vacation home you can enjoy now while you wait for the day you reach financial freedom and decide to end

A funny thing happened on the way to that $56,000-a-year Alzheimer’s drug: Payers are reluctant to pay, providers are reluctant to prescribe, and the price is coming down—at least for some patients. It is a tale  that could push Congress to allow Medicare to negotiate drug prices. Reuters reports that Biogen BIIB , which sells

I suspect that after years of reciting the same headline numbers, we tune them out: The Social Security Old Age and Survivor’s Insurance Trust Fund will not be able to pay full scheduled benefits after the year 2033, one year earlier than forecast in last year’s report; when the Trust Fund is exhausted, it will

Today’s column addresses questions about recalculation of benefits after earning continuing income, how the family maximum that can be claimed on a single record is calculated and how divorced spousal benefits are calculated for business owners. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,

In her twenties, Mickey became the single mother of three children under five years old. The resulting challenges she faced defined much of her life. She had to support the family on a secretary’s salary and navigate a not-so-friendly professional world while mothering her son and two daughters, paying the bills, and saving for retirement—all

Deciding to take ownership over your retirement and savings goals typically starts with one important step: Automation. Financial experts and voices almost universally begin the savings process with the idea of automation. Why? Because it allows you to move money into either short-term savings or long-term retirement accounts without ever seeing the funds within your

The United States is currently one of the most overheated property markets in the world. Low interest rates, stimulus check savings, and limited housing supply are working together to buoy property prices across the country. Values are up 15% on average over the last year, and it has become harder today to find an affordable

Here at AgingParents.com we see lots of problems. Real estate agents and elder-related issues are among them. This is a real case. Edward is 80 years of age, living in a senior’s home where he is able to care for his physical needs independently. But his mind is not as healthy as the rest of

Earlier this month, when the Bureau of Labor Statistics released its Consumer Price Index report for July 2021, headlines reported year-over-year inflation clocking in at 5.4% for the second straight month. This got many retirement investors asking questions about the impact of inflation on their portfolios. Asking questions is OK. Asking the wrong questions isn’t.