Retirement

Lack of transparency at our nation’s public pensions makes scamming easier than cryptocurrency fraud. Public pension funds or cryptocurrency, what’s the bigger scam? The surprising answer is pension funds, according to Anessa Santos, a Florida attorney and Special Magistrate who specializes in blockchain and fintech, and the reason why has everything to do with transparency,

Saving for retirement is a young person’s game. The younger you start saving, the less sacrifice it is. Wait to save for retirement until age 50 and you need to save half of your salary to maintain pre-retirement income at retirement. Start at age 25 and you need only save a tenth of your current

Planning for family members with mental health issues can be difficult. Knowing what the person can handle on their own and what they need assistance with can be hard to figure out. It can also be a moving target, changing year to year or even week to week in some cases. Often, the person has

In 2006, Congress passed the Pension Protection Act that changed the world of 401(k) plans and the retirement savers they serve. Among the many things this new law encouraged, perhaps automatic enrollment has had the most beneficial impact. It has increased the percentage of people saving for retirement. But a recent Federal Reserve Bank of

When State Auditor Keith Faber announced to stakeholders in the State Teachers Retirement System of Ohio, including active government workers, retirees and taxpayers, his office was initiating a Special Audit of the pension based upon complaints evolving from a forensic investigation commissioned by the Ohio Retired Teachers Association, there was hope that the lack of

Between now and December 7, it’s Medicare open enrollment season. If you’re already enrolled in Medicare, you can choose to keep your current coverages or select a new policy that can better meet your needs during 2023. There are a handful of elections and coverages that you might want to review during open enrollment, but

The Open Enrollment Period is the time that Medicare beneficiaries can make changes in their drug coverage. Sometimes the change may not be the right thing to do. My company, 65 Incorporated, received this email from David. “It’s crazy that I pay for a Part D drug plan because I don’t take any prescription medications.

Suddenly, Social Security reform is back in the news. For all the wrong reasons, perhaps. But at least politicians are talking about it. And that’s a good thing. After all, in only about a dozen years, the Social Security program’s old-age trust fund — the account covering retirees and survivors — will be insolvent and

By Rashelle Brown, Next Avenue With inflation running especially high in recent months, we’ve all felt the pinch a little more than usual. But glance back in time and you will see that life’s staples have become more expensive throughout history. It’s a trend not likely to end in our era, and a phenomenon more

By Gary M. Stern, Next Avenue Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. But when their mother passed away and left the bulk of her estate to Robert, Lon was devastated. Feeling betrayed by his mom and livid

Worker Benefit – this is your own personal benefit. You are always paid your own benefit first regardless of what benefit you are entitled to. The earliest you can apply is 62. If you apply before your full retirement age the benefit will be reduced. It is the only benefit that accrues delayed retirement credits.

Open Enrollment is on now through December 7. This is your chance to review your drug coverage. If you see Part D drug plans that charge a coinsurance, instead of a copayment, proceed with caution. Cost sharing basics To understand the coinsurance issue, let’s begin with the costs Medicare beneficiaries pay for medications. A premium

Does the gig economy intrigue you? Have you ever wondered what side hustle you’d be best at? According to a recent report issued by Precision Reports, the gig economy will nearly triple in the next five years. In addition, the rate of monthly new business formations, after nearly doubling at its peak at the onset

Medicare beneficiaries are accustomed to paying more for their prescription medications. According to Kaiser Family Foundation, just about half of all drugs covered under Medicare Part D, prescription drug coverage, and Medicare Part B, medical insurance, had price increases greater than inflation between July 2019 and July 2020. Diabetic beneficiaries have been hit even harder.

The Great Recession, lasting from December 2007 to June 2009, was the most severe economic downturn in the U.S. since the Great Depression. Virtually all investors lost assets during the financial market crash, typically about a quarter of assets. The economic effects lasted for years, with jobs slow to recover and unemployment remaining stubbornly high.

If you had the choice, would you rather stand on the winner’s podium or watch as someone else stands on that platform? Be honest, now. When you enter a competition, do you just say you’re there simply for the experience or deep down, do you imagine yourself finishing first? There’s nothing wrong with wanting to

In our work at AgingParents.com, we often hear from adult children that the elder in their lives absolutely doesn’t want to be “put in a home”. By that they typically mean that they fear giving up their own living situation and being forced to go elsewhere for some form of care. They extract promises from

If retirement is on your radar, no doubt you’re hearing advice and recommendations from financial advisors, your spouse or partner, and well-meaning relatives and friends. The trouble is, it’s often easy to tune them out, for several reasons. You might believe you’ve heard their advice before. You might be busy with day-to-day life or not

By Richard Eisenberg, Next Avenue Social Security is the cornerstone of retirement income; in fact, a third of retirees get 90% of their retirement income from Social Security. But if you’re confused about how its benefits are calculated and when you should start claiming them, you’re in good company. A new Bank of America survey

How do you picture an entrepreneur? In a recent survey by Cox Business, small business owners listed their top three entrepreneurial idols as Steve Jobs, Ben Franklin and Walt Disney DIS . But another part of that survey may be more revealing. Roughly two-thirds of the respondents said the desire to be their own boss