Is maxing out your 401(k) enough? For high earners, only saving up to the annual IRS contribution … [+] limit may not be enough to meet spending needs in retirement. getty Is maxing out your 401(k) enough? When saving for retirement, you’ll want to find out what level of income your current contributions could provide
Retirement
getty The Paycheck Protection Program (“PPP”) was launched in April of 2020 to facilitate over 4.9 million loans totaling in excess of $521 billion, with a second round of funding for the program currently being negotiated in Congress. The vast majority of borrowers have properly obtained these loans and have managed to facilitate receiving complete
getty Tax breaks for pensions? No, I’m not talking about the small number of states which don’t tax retirement income. I’m talking about the fact that anyone who receives a traditional pension gets a tax break. After all, generally speaking, compensation from one’s employer is counted as taxable income. Any form of compensation that is
getty Creating a “Depth Chart” can help you see the field Covid-19 temporarily put most professional sports on hiatus. When they came back, we were again treated to world-class athleticism, performed at speeds well beyond what most of us can do. But there is a lot that goes into that on-field product, behind the scenes.
By Kerry Hannon, Next Avenue Contributor Independent filmmaker Mike Kravinsky Courtesy of Mike Kravinsky The pandemic pivot is a stark reality for droves of older small business owners resolute to stay in business. That kind of grit is the spine of the midlife entrepreneurs I’ve interviewed in recent years, several of whom I profiled in
Read my previous articles on FIA Interest Crediting Methods including point-to-point and participation rate. Another method for increasing the participation rate without introducing a cap is to add a spread to the FIA interest-crediting formula. Continuing with our same simple example in which we found a 56 percent participation rate, suppose the insurance company could
Supreme Court Will Review Entire Affordable Care Act Immediately After The Election getty Ending the Affordable Care Act (ACA) will be a case of Robin Hood in reverse – taking from the most vulnerable families to give the wealthiest Americans a massive financial windfall. This could soon become reality if the Supreme Court sides with
By Richard Eisenberg, Next Avenue Managing Editor getty Retiring from full-time work can be scary financially, when you no longer have a steady paycheck to count on but still have bills to pay. That’s why my “Friends Talk Money” podcast co-hosts Terry Savage, Pam Krueger and I just devoted our latest episode to ways to
The US Department of the Treasury recently issued the new National Strategy for Financial literacy. This is much needed, in particular in a time of crisis and a good part of the report is devoted to how to help people in these difficult times and the critical role of financial education. Since the start of
HUD could improve the HECM Reverse Mortgage Program with a few simple rule changes getty This article proposes changes in HUD policies that would support an enhanced HECM that is part of an integrated retirement plan. Such integration will generate the following benefits: Larger payments to borrowers that can increase annually and last until death.
By Nancy Collamer, Next Avenue Contributor Getty Do you feel stressed, anxious or depressed at work these days? You’re not alone. A recent survey conducted by FlexJobs and Mental Health America found that 75% of people have experienced burnout at work, with 40% saying they’ve felt it during the pandemic specifically. And according to a
By Dr. Sharon K. Inouye, Next Avenue Contributor and Director of Aging Brain Center getty Imagine the end of the pandemic — with new cases and deaths trending down towards zero — a time we are all eagerly anticipating. Key to achieving this goal will be the development of effective treatments and vaccines. Yet, based
By Richard Eisenberg, Next Avenue Managing Editor getty Millions of Americans are rightly concerned about the future solvency of Social Security. But there’s another key Social Security concern: the prevalence of people starting to claim their Social Security benefits early, depriving them of larger payments from the government by delaying. When to begin claiming Social
A model portfolio—along with a sober assessment of future returns. Retirement getty Whew. If you didn’t panic and sell, your portfolio has recovered from the pandemi-crash. Now you can look forward to a rich retirement. Somewhat rich. You’re going to be earning a 2% annual return on your savings. That return, which is after inflation
getty This article deals with the second provision that may limit the amount of Social Security benefit you are eligible to receive if are you a public sector/civil service employee under (STRS, PERS, CSRS, Railroad Retirement, etc.). Last month I wrote about the Windfall Elimination Provision (WEP) which is the other limiting provision. Read more
getty It has been a pretty tough September for investors. At certain times during the month, the S&P 500 had dropped almost 6%. Investors are back to experiencing days in the market that are either up or down hundreds of points on the Dow. With the pandemic creeping along and the upcoming presidential election, investors are frustrated, tired
The Medicare Plan Finder has some big pluses and minuses. 65 Incorporated Over the last few months, it seems as though every time I visit the Medicare Plan Finder, something has changed – an interactive map, different fonts and layouts, new filters and more. However, there is one change that rises to the top of my
WASHINGTON, DC – SEPTEMBER 24: Speaker of the House Nancy Pelosi (D-CA) holds a weekly press … [+] conference at the Capitol on September 24, 2020 in Washington, DC. Pelosi paid tribute to Supreme Court Justice Ruth Bader Ginsburg saying the late justice will be the first woman as well as the first Jewish person
Even if you didn’t experience it personally, you probably have vicariously felt the disturbances caused by the sudden and massive unemployment earthquake. It shook your families, your neighbors and the economy. And now, you may be experiencing an aftershock yourself – your own unexpected early retirement. Whether you’re a dual income 50-something teacher who is
getty Taxpayers who run into dead ends dealing with the IRS have an option few know about. It’s free, and it can be effective. After receiving answers from the IRS they think are wrong or no answer at all, most taxpayers believe they have only two choices. One choice is to give up and accept.