Retirement

Economic Security Planning, Inc. Today’s column addresses questions about having no income in the years before filing, potentially filing early with minor children, potential effects of continuing to earn income and how spousal benefit amounts are determined. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security

getty Professor Marshall Ketchum eyed the young graduate student. His colleague, Professor Marschak, former director of the Cowles Commission for Research in Economics, had directed the student to get a reading list from the learned academic. That student would go on to win the Nobel Prize. And it was all because of one of the

The Deep Recession Continues getty The Bureau of Labor Statistics released its latest estimates for the state of the labor market on August 7. The economy gained 1.8 million jobs in July and the unemployment rate fell to 10.2% in July from 11.1% in June. Still, 16.3 million workers were looking for a job but

TOPLINE After Norwegian Cruise Line reported dismal second-quarter earnings—with revenue plunging 99% from a year ago—CEO Frank Del Rio said that he was “astonished” that people are still booking cruises, while also expressing optimism the company has enough liquidity to weather a prolonged period of no sailing. Norwegian Cruise Line reported a 99% decline in

By Liz Seegert, Next Avenue Contributor getty Researchers have launched a global effort to examine the long-term effects of Covid-19 on the brain. Scientific leaders from more than 25 countries in Asia, Africa, Europe, Latin and North America, with guidance from the World Health Organization, are looking into neurological complications stemming from the coronavirus. Many

getty A Health Savings Account (HSA) is a savings vehicle for people who are enrolled in high deductible health plans to save for future medical bills. The features of HSA accounts also make it a very good retirement savings vehicle, and in some ways, are better than a 401(k). HSA contributions are pre-tax, if made

While I discussed a variety of ways that insurance companies manage the risks around supporting lifetime income guarantees, fees are the headline mechanism for managing the guarantee risk. Fees can be used to purchase financial derivatives and support other forms of risk management for the guarantee. Deferred variable annuities generally have several types of ongoing

By Kerry Hannon, Next Avenue Contributor getty Before the pandemic, people looking for work often went to mammoth job and career fairs in nearby convention centers. These days, like just about everything else, job fairs have gone virtual. Given today’s high unemployment rate and painful Covid-19 layoffs, they’re valuable for laid-off job seekers. Attending a

Have you received a Form CRS in the mail from the investment firm(s) you do business with? This is a brand-new disclosure document mandated by the U.S. Securities and Exchange Commission. Why A New Disclosure Document? I’ve been talking to my readers about Form CRS since the SEC first came up with the idea of

By Richard Eisenberg, Next Avenue Managing Editor getty Life transitions can be jarring at any age, but they often pile on top of each other in your 50s and 60s. Transitioning to retirement…to empty-nesterhood…perhaps to a single life…living through a health trauma. Heck, it’s partly why our site is called Next Avenue. Bruce Feiler, author

By Margie Zable Fisher, Next Avenue Contributor Rose Saulenas and her dog Sheba Courtesy of Sharon Saulenas As any family caregiver will tell you, caregiving is hard. In addition to the stress involved, family caregivers often take a financial hit. But there are ways to get a hand paying for the care you provide, including

Providing a guaranteed lifetime withdrawal benefit is a risky endeavor for the insurance company. The insurance company must manage both longevity and market risk, as they are obligated to provide lifetime income payments at the guaranteed level if the underlying assets held within the annuity have been depleted. The greater the investment volatility and the

More Boomers are likely to face involuntary retirement with the new surge in Covid-19 cases says a new report from The New School’s Retirement Equity Lab (ReLab). Nearly 2.9 million Boomers have left the workforce since March. The number of Boomers forced into retirement since the pandemic began will probably climb to 4 million in

Better Economic Outcomes Do Not Follow From Riskier Public Health Approaches getty The responsibility for balancing public health and an economic recovery has fallen on state governments. Some states, such as Massachusetts, New York and Washington, chose to go slow with lengthy stay-at-home orders and a gradual reopening. Others, such as Florida, Georgia and Texas,

By Craig Miller, Science journalist and Next Avenue Contributor getty Scientists say 2020 is on track to be among the hottest years on record. They know this from a worldwide network of sensors and satellites that constantly monitor land and ocean temperatures. But my favorite index for global heating is Charlie, my 92-year-old father. I

When it comes to Medicare, a Power of Attorney has no power. getty A power of attorney (POA) is a powerful thing. A financial power of attorney document allows an appointed person to make financial, legal and property decisions on another individual’s behalf. A person holding another’s POA can sell the individual’s car to pay medical bills,

Older Workers Stay In Labor Force Because Of A Lack Of Savings getty The current recession shows an odd pattern among older workers. Unlike in prior recessions, the unemployment rate is higher among older workers than among younger ones. Many keep looking for work, because they have little or no savings, when in the past

By Nancy Collamer, Next Avenue Contributor getty Catching the attention of a job recruiter has long been a challenge, but it’s especially difficult right now. In the week ending July 24, 2020, 1.4 million Americans filed for unemployment, marking the 19th straight week that jobless claims have topped one million. Still, since over 90% of

Lack of money, inflation, default. Young businesswoman looking with despair. Financial, economy … [+] concept getty Does the 401(k) no longer make sense? That’s what a recent article in Bloomberg Opinion is claiming because of lower tax rates and lower fees on investments outside of 401(k) plans. Before you cancel your 401(k) contributions, let’s look

Managing an investment portfolio in retirement is like playing a game of tug-of-war against yourself. On the one hand, you need to pull cash out of a portfolio for monthly expenses. On the other hand, you need your investments to grow to support future spending and offset the ravages of inflation. These twin goals often