Retirement

TOPLINE The stock market moved higher on Friday, reversing early losses, after positive coronavirus vaccine news helped offset growing investor concerns about a record number of new U.S. cases. Stocks ticked higher after Gilead’s coronavirus treatment showed positive data. Marcel Kusch/dpa/picture alliance via Getty Images KEY FACTS The Dow Jones Industrial Average was up 1.4%,

Getty No matter your age, you invest for only one reason: to accumulate wealth. Anything else is charity. Not that there’s anything wrong with charity (and faith and hope and all those other good things). Charity puts food on other families’ tables. Investing—good investing, smart investing, successful investing—puts food on your family’s table. And if

TOPLINE Despite growing concerns about a record number of new U.S. coronavirus cases, the stock market has largely held steady thanks to surging shares of big tech companies—though  that’s resulting in a very imbalanced market, experts warn. The FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet. Forbes KEY FACTS Even as the United

TOPLINE Despite growing concerns about a record number of new U.S. coronavirus cases, the stock market has largely held steady thanks to surging shares of big tech companies—though  that’s resulting in a very imbalanced market, experts warn. The FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet. Forbes KEY FACTS Even as the United

Getty In June, the Department of Labor advanced a rule relating to socially responsible investing – also commonly known as environmental, social, and corporate governance (ESG) investing. The proposed regulation by the Labor Department reiterates that fiduciaries are prohibited from disregarding pecuniary considerations to instead pursue ESG-related considerations. The Employee Retirement Income Security Act (ERISA)

Dogs can inspire you to make good retirement planning decisions! iStockphoto: ChristinLola Most older working Americans face serious retirement planning challenges: To generate enough money to afford retirement, they’ll either need to work beyond age 65, reduce their standard of living, or do some combination of the two. These are tough challenges, and most people

Residents at the Avante at Ormond Beach nursing home, one of the 324 long term care facilities in … [+] Florida with known COVID-19 cases. (Photo by Paul Hennessy/NurPhoto via Getty Images) NurPhoto via Getty Images What have we learned from the 50,000+ covid-19 deaths of residents and staff in long-term care facilities? As the

Many Renters and Homeowners Have Trouble Paying Their Bills in the Recession. Getty Millions of renters and homeowners could face evictions and foreclosure as many have trouble paying their bills in the recession. With temporary job losses turning permanent and the unemployment rate still at double digit rates, many families do not earn enough to

Determine how much money you need to meet your needs and be happy in retirement. Getty “To be comfortable in retirement, you need a retirement income that equals 70% to 80% of your gross, pre-retirement salary.” I hear that rule of thumb mentioned frequently by retirement advisers, and I often see it in the publications

Economic Security Planning, Inc. Today’s column addresses questions about whether dependent benefits are affected by the earnings test, how delayed retirement credits for retroactive benefits are calculated and how repayments of overpayments are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

By Richard Eisenberg, Next Avenue Editor Getty This is the time of year when personal finance writers like to tell readers to give themselves a midyear money checkup. That’s a good idea for 2020 and my co-hosts on the Friends Talk Money podcast and I have a few suggestions in our latest episode. But frankly,

Getty Back in June, the consulting firm Milliman updated its estimated composite funded status for the 100 largest U.S. public pension plans, reporting that at the end of May, plans had made a fair amount of progress in recovering from the March market crash: while the 2019 year-end funded ratio had reached a level of

TOPLINE United Airlines said on Wednesday that it could furlough up to 36,000 employees—almost half its U.S. workforce—in October if the coronavirus pandemic continues to wreak havoc on global travel. The potential job cuts could hit 40% of its staff. Justin Sullivan/Getty Images KEY FACTS United announced that it is warning more than a third

This recession is different, but different isn’t necessarily a disaster. Financial expert and market analyst John Mauldin says the recession of 2020 is unique. In the first place, by any metric it’s worse than any recession we’ve seen in the last 90 years. In the second place, that’s because our economy has moved in the

Covid-19 has thrown off everyone’s habit of visiting our aging loved ones. Assisted living, independent living and nursing homes have isolated their residents for months. In most places, no one can visit in person yet. That has to change. Elders’ isolation is doing harm. Some homes have figured out a safe way to allow visitation.

We’ve heard a lot lately about how the COVID-19 pandemic is dramatically disrupting the retirement preparations of tens of millions of working Americans. Being furloughed from work or having your small business fail is causing people to dip into savings and interrupts putting money aside toward retirement. Those closest to retiring can be in the

Success businessman in the city raising his arms, open palms, with face looking up – financial … [+] freedom concepts, double exposure effect Getty Now that we’ve celebrated our Independence Day, you may want to consider another form of independence: financial. Financial independence is about having the freedom to work or not work as you

By Elizabeth White, Next Avenue Contributor Getty I remember well the shock of being suddenly laid off during the Great Recession of 2007-2009. I was in my mid-fifties when my good job disappeared, my income fell to zero and I was suddenly on the outside looking in at a life that was no longer mine.

Getty Potential borrowers still hoping to get a cut of the PPP pie have been given until August 8th to apply for their initial PPP loan.  President Trump signed the “PPP Extension Act” on July 3rd, which consists of the same exact language that passed the Senate on June 30th, mere hours before the window

2 million mark banknote, 1923. Getty Modern Monetary Theory — the dream that we can spend quite a bit more money on such government programs as the Green New Deal, a Universal Basic Income, or similar agenda items merely by printing the money (or the 2020 virtual equivalent thereof) — insists that the United States