By Leslie Hunter-Gadsden, Next Avenue A phone call in the pandemic led to big things for filmmaker Roberto Mighty Roberto Mighty It is often said that timing is everything. Boston filmmaker and multimedia artist Roberto Mighty, 66, certainly found that out one day in March 2020 shortly before the coronavirus pandemic reached epic proportions in
Retirement
How much will a Cash Balance Plan lower you taxes? Depend on how large a contribution you are able … [+] to make. getty The cash balance pension plan has been growing in popularity with the self-employed and small business owners who are looking to minimize their taxes. This valuable retirement plan also works well
Doing good for the world gives back to you. Getty The recent presidential inauguration ceremony was an inspiring yet sobering reminder of the challenges that collectively we face as Americans. But there’s a silver lining for many of us: Seniors and retirees possess life experience and expertise that our nation dearly needs to address these
Estate planning documents. getty An unimaginable number of people are still dying from Covid complications, while others are dealing with life-threatening illnesses such as cancer, heart attacks and strokes. When it is your spouse who is ill, the pain is intensified by the anticipated loss of your life partner. It is heartbreaking. Planning for the
getty Who would you rather show you how best to save and invest for retirement? An accomplished advertising copywriter? A radiant teacher? A celebrated movie director? If you answered “Yes!” to the above multiple-choice question you’re far more astute than you might give yourself credit for. This is about the above choice in terms of
US President Barack Obama, alongside Secretary of Education Arne Duncan (R) and High School Senior … [+] Amirah Delwin (L), speaks with graduating seniors and their parents during a roundtable discussion on the interest rates of federal subsidized student loans at Washington-Lee High School in Arlington, Virginia, May 4, 2012. Without Congressional intervention, student loan
Be cautious when shopping for Medicare insurance. getty The Medicare Advantage Open Enrollment Period, from January 1 through March 31, brings with it many, many commercials. These focus on the low cost and benefits one can get simply by calling the phone number on the screen. Enrollment couldn’t be easier. However, a smart shopper will realize there
The latest round of stimulus has offered help to individuals, but includes some desperately needed, … [+] and hopefully, very helpful stimulus aimed at small businesses. getty The Consolidated Appropriations Act (CAA) gave us some last-minute fiscal relief, notably $600 stimulus checks for individuals and provisions for some hard-hit areas aimed at mitigating the continuing
Economic Security Planning, Inc. Today’s column addresses questions about potential effects of filing for early retirement benefits on a spouse’s benefit, when reductions for filing early can and cannot be lifted and retirement benefit estimates on SSA’s website. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
getty There are three risks that are most likely to derail retirement plans. The risks are real and substantial, almost regardless of an individual’s net worth. Fortunately, the potential damage from the risks can be reduced. Longevity risk is talked about a lot by economists and financial advisors but not by many retirees and pre-retirees.
getty The $15 minimum wage, on the agenda of activists for upwards of a decade and now a part of President-Elect Biden’s covid-relief plan, is, depending on who you listen to, either a boon to workers or the source of substantial lost jobs. After all, a CBO analysis from 2019 concluded that both effects would
Corporate Profits Quickly Recovered From the Initial Shock. getty The country is experiencing two quite different paths since it plunged into a recession in the spring of 2020. Many families struggle with widespread and increasing job losses, long-term unemployment, more debt, hunger, poverty and the threat of evictions among a surging pandemic. In contrast, corporations
What is a Swap Power and Why do you Care? A “swap power” is also called a “power to substitute.” It is a special right reserved to you (or someone else) in a trust you create while you are alive. This right gives you the power to swap an asset of yours, say cash, for
By Kerry Hannon, Next Avenue Business owners Edith Cooper and daughter Jordan Taylor Edith Cooper When Jordan Taylor was a kid, going into the office with her mother, Edith Cooper, “was the biggest treat,” says Taylor, now 30. “Partially because the coffee machine was so much fun to play with.” Cooper, now 59, spent two
By Jonathan Littman and Susanna Camp, Next Avenue Entrepreneur Uwe Diegel successfully pitching his startup Courtesy of Uwe Diegel You may be surprised to hear it, but there’s never been a better time to pitch your startup. And for that, you can thank the pandemic. Entrepreneurship is being driven by massive layoffs and the realization
Hundreds of people line up to receive food and goods distributed by volunteers from the Chelsea … [+] Collaborative Inc. outside the Pan Y Cafe in Chelsea, Massachusetts on April 14, 2020. – Cmany families not eligible for state and federal help. (Photo by Joseph Prezioso / AFP) (Photo by JOSEPH PREZIOSO/AFP via Getty Images)
By Richard Eisenberg, Next Avenue Editor getty Usually around this time of year, I write a post revealing the “best places to retire abroad” based on the new annual rankings from International Living (IL) and Live and Invest Overseas and explain why the winners won. Well, their new lists are out, but I can’t write
With this understanding about how life insurance is priced, I can create a simple model to consider four different potential roles for this whole life insurance policy in retirement income planning. First, the death benefit for life insurance provides a method to meet a legacy goal using risk pooling and tax advantages that is distinct
The stock market scorecard can help you invest for retirement with confidence. Getty Images, contributor gopixa If a baseball or basketball team had a win/loss record of 70-25, you’d say it dominated the field. Well, 70-25 has been the win/loss record for the annual rate of return on the S&P 500 since 1926. Impressive scores
Mature woman helping elderly mother with paperwork getty If you have bought into the idea that aging in place in the home you’ve maintained for 30+ years is the best answer to the question of where to live as you age, I can only conclude that you have decided it’s payback time for your children.