Retirement

Topline The stock market reversed gains and moved lower on Thursday following comments from Federal Reserve Chair Jerome Powell, who signaled aggressive interest rate hikes ahead while all but confirming market expectations of a half-percentage point increase at the central bank’s next policy meeting in May. Key Facts Stocks rose earlier in the day thanks

The US desperately needs more direct care workers to provide personal assistance to frail older adults and younger people with disabilities. Many native-born Americans were unwilling to do this work even before the Covid-19 pandemic. Now, shortages are far worse. Yet, the US continues to bar entry to those who are willing and able to

Today Ohio Governor Mike DeWine issued the following statement in support of a Special Audit of the $100 billion State Teachers Retirement System (STRS) Ohio Auditor of State Keith Faber and his office is currently conducting. “This week, I spoke with Auditor Faber regarding his ongoing special audit of STRS. The issues being reviewed are

AOC and Kevin McCarthy agreed on a bill and voted together in the House of Representatives! Really. It’s true! Bipartisanship lives on. In March, Democrats Alexandria Ocasio Cortez and Nancy Pelosi and Republicans Marjorie Taylor Greene and Kevin McCarthy—all four in opposite corners of the American political scene—voted for SECURE 2.0, a retirement reform bill

As a financial advisor, there are a lot of questions I get asked almost daily. Surprisingly, “are you a fiduciary?” is not one of them. This could be the most important question you ask your current or potential advisor, and yet it seems that few people know to ask it. It’s time to change that.

With inflation numbers skyrocketing to 40-year highs, the ubiquitous I-Bond will reset its interest rate on May 1 to 9.62% for 6 months. Thus, on your $10,000 investment, you’d make a guaranteed (no principal risk) 4.31%. No state tax and ultra-low risk, this sounds good, right? Using some quick math, that works out to be

Many people are familiar with income and estate taxes but not many know what the generation skipping transfer (GST) tax is or how it can impact the monies you leave your heirs. The GST tax is imposed on monies you leave directly to grandchildren or to trusts that will ultimately benefit them. Think of it

Topline The International Monetary Fund warned on Tuesday that global economic growth will be “severely set back” by the fallout from Russia’s war with Ukraine, the effects of which will be felt “far and wide” as the conflict adds to global pricing pressures and fuels inflation. Key Facts The IMF issued a “significant downgrade” to

Topline The stock market moved lower on Monday—extending a recent losing streak—while rates surged ahead of a big week of quarterly earnings results, with investors remaining nervous about the impact of surging inflation on corporate profits and consumer spending. Key Facts Stocks added to last week’s losses, despite a comeback late in the day: The

In all the excitement about the crack in Amazon and Starbucks’ anti-union armor as workers post big union wins, one might think that labor power in America is rising. But unionization is just one of 10 indicators of worker bargaining power—and of these, only five show worker power is up. Why does worker power matter?

While we were celebrating Passover and Easter with our loved ones and family, National Health Care Decisions Day came and went. It was on Saturday, April 16. It was designated to remind us that no matter our age, planning for the inevitable day when we cannot make our own health care decisions is more than

If you are 65 or older, should you expect to need a significant level of long-term care? And can you predict that need? The short answers are yes. And no. You absolutely should expect to need that care. And, unless you already are very poor, you should plan to pay for at least some of

Can You Get A Tax Refund If You Don’t File A Tax Return? If you earn below a certain dollar amount, you are not required to file a tax return. What happens if the IRS owes you a tax refund? Who does need to file? The IRS provides a chart with minimum gross income levels

By Richard Eisenberg, Next Avenue Every so often, a new buzzword seems to come out of nowhere and suddenly feel ubiquitous. Right now, that word is “metaverse,” which means using virtual reality (VR) headsets or augmented reality (AR) eyewear or apps to make the internet more interactive and 3D. Euromonitor International calls the metaverse movement

By Andy Levine, Next Avenue Russell Brent’s mother was a master knitter. And she taught her son to knit at a young age. As Brent remembers it, “I learned how to push two sticks around with a little bit of yarn, cables and lace and that sort of thing.” But it was the mid-1970s and

Behind the sunny spin about the U.S. economy’s low unemployment rates, many older Americans are battling some grim realities. Take 67-year-old Tina Caston, who worked more than 20 years as an operations officer in the U.S. Navy and was ready for a comfortable retirement. Then, when her savings didn’t keep pace with rising costs of

By Bart Astor, Next Avenue I don’t even know where to begin,” Sindy Steinberg told me after her husband died. “I’m just trying to stay on top of the bills. I don’t even know all the passwords for the bank accounts and investments.” I heard this repeated from all the recent widows — and widowers

If there is an aging loved one in your life, chances are they’ve got some chronic medical conditions. Heart disease, high blood pressure, respiratory disease, and other common issues bring them to the doctor. And the primary care doctor makes referrals to specialists. Each specialist focuses on their area of expertise and prescribes medications to

Topline Shares of JPMorgan Chase, the biggest U.S. bank by assets, fell on Wednesday after the firm reported earnings which showed profits declined sharply from last year due to market upheaval caused by Russia’s invasion of Ukraine, surging inflation and lasting supply chain problems. Key Facts While JPMorgan’s quarterly revenue came in slightly higher than

Introduction So you’re married. You received a gift from Aunt Jane while she was alive. Your dad bequeathed you a generous sum of money on his passing. Those gifted and inherited assets in many instances will be considered “separate property,” not marital property. That might mean that they might not be subject to division if