getty The Main Street New Loan Facility Program was established as a part of the CARES Act earlier this year to provide banks with a 95% guaranteed re-payment when they extend credit under this program to a business borrower. In an apparent reaction to the delay in extending new PPP loans the SBA announced on
Retirement
By Nancy Collamer, Next Avenue Getty Between Covid-19, record-high unemployment numbers and the collapse of entire industry sectors, 2020 has been a miserable year for older workers. In fact, for the first time in nearly 50 years, older workers face higher unemployment than mid-career workers, according to The New School Retirement Equity Lab. And a
By John Endris, Next Avenue getty (Transitioning from someone who creates art to someone who sells his or her art for profit can be difficult. As David Deeds, Schulze Professor of Entrepreneurship at University of St. Thomas, wrote in “To Turn Your Art Into a Business, Learn to Manage Your Time,” you may want to
If you’re 55 or over, your retirement may be more uncertain than ever before. Despite that more people than ever are retiring early in the face of an ongoing pandemic, uncertain economy and record low interest rates. 2020 has brought unprecedented change getty A recent report released by the Retirement Equity Lab at The New
A vintage flag of the United States of America for Veteran’s day getty Every Veterans Day, many organizations recognize the service our country’s military members have given our nation. The tradition dates back over 100 years, to the original Armistice Treaty signed at the end of World War I. Armistice Day, as it was originally
Women Bear The Brunt Of The Recession getty The labor market is in a “she-cession”. Women bear the brunt of the pandemic. Yet President Trump promised “we’re getting your husband’s back to work” at a rally in Michigan. This dated vision of women’s participation in the labor market ignores the plight of millions of women,
getty Are you concerned you’ll never be able to retire? You have saved in your 401(k) or company retirement plan and picked up a company matching contribution. As you are getting closer to the end of your career, you wonder, “Will it be enough?” Every individual’s goals and finances are different; some people may have
Could a positive financial trend be emerging as a result of the pandemic? Could it be that women are stepping forward more to lead family financial decisions? A new study (“The Pandemic’s Impact on Women”) released last week by Fidelity brought this statistic to light: The majority of women surveyed (67%) said they are now
Briana called AgingParents.com in distress. She was feeling panicky and angry. Her 80 year old mother, Rhonda, had just bought another new car she could not afford. Briana explained that her mother’s funds were limited, but she kept insisting on living the life she had before her husband passed. Her parents had depleted their assets
Sanibel Island, Jerry’s Foods, grocery store, breakfast cereal aisle. (Photo by: Jeffrey … [+] Greenberg/Education Images/Universal Images Group via Getty Images) Jeffrey Greenberg/Universal Images Group via Getty Images I am interviewing Gaurav Sharma, who has launched a new venture to solve an old problem. Gaurav, ever since we started our national experiment with do-it -yourself pensions with
FIAs also frequently offer optional lifetime income guarantee benefits in the same manner as variable annuities (VAs). These guaranteed lifetime withdrawal benefits (GLWBs) are what can make FIAs particularly valuable in a retirement income plan. Though the names for different pieces may vary, the discussion from the previous chapter still applies in terms of rollup
Cloud storage getty The pandemic has shone a light on the need for families and older individuals to ramp up their game in preparing for the unexpected. One of the ways we should all be doing that is by locating and reviewing our estate documents and securing them in the safest place possible. Adults of any
Illinois Gov. JB Pritzker answers questions from the media during his daily press briefing on the … [+] COVID-19 pandemic from his office at the Illinois State Capitol, Friday, May 22, 2020, in Springfield, Ill. (Justin L. Fowler/The State Journal-Register via AP, Pool) ASSOCIATED PRESS It was going on two years ago, back in February
By Richard Eisenberg, Next Avenue Managing Editor getty Jeff Gothelf, a Barcelona-based (by way of New Jersey), 47-year-old business consultant, author and public speaker, believes we can make ourselves “forever employable” if we follow his advice. He’s written how to do it in “Forever Employable,” his new book. Frankly, I was skeptical about the title.
getty Most people are focused on the wrong risks to their financial futures, and that increases the risks they face. When a financial or retirement plan fails, it’s usually because key risks were misunderstood or mis-estimated, and people are focused on risks that are less likely to derail their plans. In general, retirees and pre-retirees
Father and daughter out for a walk getty Health is retirement’s biggest wild card, the difference between activity, independence, and financial security – or worry, constraint, and financial insecurity. Today’s newly minted Boomer retirees can look forward to longer and healthier retirements, perhaps extended by medical breakthroughs. But at the same time, more of them
Biden picking Rhode Island Governor Gina Raimondo as next Secretary of the Treasury makes as much … [+] sense as picking Dracula to oversee the national blood bank. getty Apparently Joe Biden’s transition team is considering Gina Raimondo, the hugely unpopular governor of Rhode Island as the next Secretary of the Treasury should Biden win.
As 2020 gives way to 2021, here’s what you need to know about tax planning. getty I think we all wish we could have $10 for every time the word ‘unprecedented’ is used in 2020. It’s been a year of incredible upheaval and rapid change. I know I’ve been gobsmacked more times than I care
SAN FRANCISCO, CA – SEPTEMBER 30, 2013: The Charles Schwab office in San Francisco’s Financial … [+] District. The Charles Schwab Corporation is an American brokerage and banking company based in San Francisco, California on September 30, 2013 in San Francisco, California. (Photo by Robert Alexander/Getty Images) Getty Images The Congressmen who introduced a bill
By Christina Leimer, Next Avenue getty I turned 60 last year, and within months learned that the job I’d hoped would be my last before retirement was being cut. I was angry, afraid, sad, anxious and felt betrayed. My confidence was punctured. But I felt relief too, and an elated sense of freedom and lightness.