Retirement

Topline The stock market moved higher on Tuesday, even after consumer prices spiked 8.5% in the 12 months ending in March, as some investors hope that inflation is showing signs of moderating, with core inflation—excluding volatile food and energy prices—coming in lower than expected. Key Facts Stocks ticked higher early on Tuesday: The Dow Jones

The Merriam-Webster Online Dictionary defines fine print as “something thoroughly and often deliberately obscure; especially a part of an agreement or document spelling out restrictions and limitations often in small type or obscure language.” You know all about this. You’re trying to purchase something online and then, at the last minute, you have to check

Topline Despite consumer prices hitting a new four-decade high last month, the latest data show several signs that prices may be moderating slightly, with economists now predicting that inflation may have peaked—though they warn prices will likely remain elevated into next year. Key Facts Though consumer prices spiked 8.5% in the 12 months ending in

We’re about a week away from a certain day in April (now April 18) that’s known to most people only as the dreaded tax day, but it’s also the deadline to make contributions to an IRA (and an HSA if you’re eligible) for 2021. Contributing to a Roth IRA can be particularly beneficial. (If your

For most adult children with aging loved ones who were responsible investors, there is a sense of security. There is nothing to worry about. They have a seven-figure investment portfolio and they own their home outright. No one expects them to run out of money. But can they? The answer depends on two things: how

Topline Billionaire investor Ron Baron, one of Tesla’s largest shareholders, told CNBC in an interview Thursday that Elon Musk’s roughly $3 billion stake in Twitter is “meaningless” and that investors should be more excited about what he predicts are massive gains ahead for Tesla, even though shares have struggled so far this year. Key Facts

Topline Major oil and gas companies, which scrambled to abandon operations in Russia following the invasion of Ukraine in late February, are now warning that doing so will result in billions of dollars of losses. Key Facts Shell disclosed Thursday that its suspension of operations in Russia could lead it to book as much as

Do you know anyone who would turn down $1.5 billion, or at least a share of it? The IRS does. More specifically, the IRS knows that an estimated 1.5 million taxpayers are owed unclaimed tax refunds totaling almost $1.5 billion. But they haven’t received the money because they did not file a 2018 tax return

Retirees who own a valuable home but little else are a large but underserved minority who worry about running out of money before they die. Their major need is for an effective way to convert their housing wealth into spendable funds. The two potential approaches toward meeting this need are debt-based and equity-based. The first

Topline The stock market moved slightly higher on Thursday—clawing back some of its losses from earlier this week—as investors continued to assess recent comments from Federal Reserve officials on the central bank’s plan to combat surging inflation. Key Facts Stocks finished positive, rebounding somewhat from this week’s losses: The Dow Jones Industrial Average rose 0.3%,

America’s elders die sooner and are sicker than their counterparts in other rich nations. American elders also must work longer than their cohort abroad. These trends mean that Americans get fewer years of healthy retirement life than elders in comparable wealthy nations—five years less, in fact. One reason for this big gap in healthy retirement

Many people are retiring early. The St. Louis Federal Reserve reported that upwards of 3 million Americans retired early due to the COVID-19 pandemic. If you weren’t among that group that retired early, it’s good to remain working for a bit longer if you can for two main reasons: (1) working one extra year is

Topline An increasing number of Federal Reserve officials have recently spooked markets by warning about the economic impact of decades-high inflation and how the central bank will need to aggressively raise interest rates, as well as “rapidly” reduce its balance sheet, to combat surging prices. Key Facts Stocks fell on Wednesday, adding to losses this

Topline With numerous Federal Reserve officials sounding the alarm on inflation, minutes from the central bank’s latest monetary policy meeting released Wednesday hinted at bigger interest rate hikes ahead this year and outlined a plan to reduce its balance sheet by $95 billion per month. Key Facts Federal Reserve officials, who last month raised interest

Medicare Advantage managed care plans, which in 2021 covered 26 million enrollees, will get an average 8.5 percent increase in total Medicare payments next year. At the same time, MA plans are rapidly embracing a wide range of social services and supports for older adults living at home. Sometimes called long-term care lite, these benefits

I was 64 on New Year’s Eve 2015, when I worked my last shift at the Chicago Tribune. I packed up my cubicle, turned off the lights and – just like that – dropped the curtain on one of the most rewarding chapters of my life. At first, I was giddy with all the freedom

The legal profession urges you to get your estate planning done. They draft wills, trusts and empowering documents like the Durable Power of Attorney and Advance Healthcare Directives. Responsible people with means usually get this done. What they and the lawyers they hire apparently don’t think about is what happens when the client, who may

Yet Another Tax Proposal The Biden administration released its budget and tax proposals on March 28, 2022. This is called the “General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals,” or more affectionately the Greenbook. Should you care? Honestly, who knows. Speakers at a major estate planning conference speculated that it was unlikely for

Some people wait until the last minute to take care of things. If that’s you, here is a last-minute RMD Alert. IRA (and 401(k)) owners born in the last half of 1949 (after June 30, 1949, but before Jan. 1, 1950): Did you take your RMD (required minimum distribution) in 2021? If not, you need

Most people worry about their financial future and yet basic financial education is excluded curriculum from high school to university Building Financial Confidence The need for individual confidence in personal financial planning has never been more paramount. Managing debt, navigating ever changing economic conditions, investment risks, rising inflation, and the increasing need to build a