Retirement

Friday’s strong jobs report was a surprise. The unemployment rate is only 3.4% —lower than last month, lower than just before the pandemic, and just a bit higher than the historic lows in 1955. Jobs are up 235,000, well above expert forecasts. But fewer people are entering the labor force even though higher wages and

The federal Centers for Medicare and Medicaid Services (CMS) has moved to increase pay for home care aides and others who provide personal care for frail older adults and younger people with disabilities. It has proposed new rules requiring Medicaid home care agencies to direct at least 80 percent of program payments for personal care

Our government is currently focusing on the mental health of elders, particularly the loneliness they experience. For those with aging loved ones, pandemic related social isolation exacerbated what was already an underlying problem. Many elders do not have consistent, meaningful connections with enough others to prevent the sadness and hopelessness so many experience every day.

“I’m scared about my investments due to recent stock market declines, high inflation, and the jump in interest rates. Where do you think the markets are headed right now?” This question was posed to me at a recent lunch I had with a retiree in her late 70s. “To be perfectly honest, I don’t know,”

Republicans in the House of Representatives are holding the federal government’s ability to pay its bills hostage to enact draconian cuts to a wide range of programs related to health care, science, housing and food security. The U.S. Treasury Department now warns that the federal government may be unable to pay all of its bills

Nikki Haley, a Republican candidate for president, recently stated on Fox News that “…if you vote for Joe Biden, you really are counting on a President Harris because the idea that he would make it until 86 years old is not something that I think is likely.” While that might make a catchy political sound

The verdict is in: Women are better investors than men. Actually, the conclusion has been addressed, researched, and reported several times now, going all the way back to Barber and Odean’s “Boys Will Be Boys” study completed in 2001, referencing the differences in investment performance by gender. But the lessons to be learned are evergreen

By Craig Miller, Next Avenue After more than 40 years as a broadcaster and journalist, I’ve found a new career. It doesn’t pay very well (OK, nothing) but it’s one of the most gratifying things I’ve done with my life. I’m a volunteer firefighter. I ply my new trade in a tiny, very historic hamlet

Managing your finances when you’re self-employed, operator of a small business or running a private practice can look chaotic at times. From the outside looking in, it can sometimes even mimic watching a circus performer juggle several bowling pins while standing on a tightrope well above the ground. It’s a perilous process, one that can

So many aging parents are not facing their own health issues realistically. When asked, “how is your health these days?”, they say “Great”. And when you look into their health truthfully, you find that they have several chronic health conditions for which they are taking medication every day. And there are more health problems looming

Some Background If you live in a community property state with your spouse, or if you had lived in a community property state with your spouse for any prior period of time, the assets accumulated while there have special rules that may have important impact on your planning. Example: Husband and wife were married in

The craziness of tax season is now behind us, and we are rapidly approaching the slow and sleepy summer season. Before investors checkout for a few months, a bit of financial spring cleaning is in order. Periodically reviewing your finances can help ensure that you are on track to achieve your goals and minimize the

By Nancy Collamer, Next Avenue Since late 2022, a steady stream of companies have announced layoffs, most notably in the tech sector. In recent months, the downsizing has extended to other industries, including financial services, retail and manufacturing. While the stigma of getting laid off is not what it once was, it’s still almost always

By Kerri Fivecoat-Campbell, Next Avenue Deb Morgan, 74, made the decision in 2021 to sell her home in Aiken, South Carolina, and move closer to her son in Cincinnati. While the booming real estate market helped her get more for her Aiken home than she imagined, the market also worked against her when finding a

By Chris Farrell, Next Avenue Many people are in their 50s and early 60s when they realize that they’re financially unprepared for retirement. Of course, they knew long before that they hadn’t saved much for their retirement and that they hadn’t done any retirement planning. What makes this moment different? Retirement is no longer an

Roth IRA owners don’t have mandated withdrawal requirements during their lifetimes. But that’s not the case for those who inherit a Roth IRA. Since Roth IRA withdrawals are not subject to income taxation, you would think that there would be no penalties for failing to take a withdrawal when beneficiaries are required to do so.

The recent annual report from the Trustees of Social Security and Medicare estimated that the trust fund backing Social Security retirement benefits will run out of money in 2033. But that might not be the end of the story. There’s a second trust fund that supports Social Security disability benefits. Not long ago that trust

A measure to close North Dakota’s public pension plan is headed to Governor Doug Burgum’s desk for signature. Before enacting the measure, the state’s chief executive would be wise to look at the experience of other states that have made such a drastic move. State leaders have learned the hard way that ending pension benefits

Step Transaction Doctrine May Ruin Your Estate Plan The What Doctrine? While the step-transaction doctrine might sound arcane it is one of many tax constructs that might well undermine steps you might take to plan your estate to reduce future estate taxes or to protect your hard-earned assets from a malpractice claim. In the simplest

Tax planning is a great way to help increase your take-home pay as a small business owner. Setting up a Cash Balance Plan could save a business owner $100,000 or more in yearly taxes. These tax savings can be even higher for business owners in high-tax states like California or New York. Who Benefits The