Mutual Funds

In late September, Chicago Mayor Lori Lightfoot delivered her 2022 budget address to the City Council. It was filled with a long list of new spending programs, including $400 million for community safety/violence reduction plans, $52 million for increased mental health services, $240 million for subsidized housing programs, $20 million for artists, and the list

By Ronni Gordon, Next Avenue Would your loved ones have necessary access to your bank accounts after you die to help carry out your last wishes and handle arrangements? It’s quite likely they won’t unless you take a few essential steps now. “If you have a bank account in a single person’s name, it can take

By Gwen McKinney, Next Avenue One day I looked in the mirror unnerved by the image peering back at me. Who is this older woman and where’s the me I know? This existential question is shaped by coming of age in an era when women were seen and heard. Today, sadly, we are virtually erased by the larger

By Kerry Hannon, Next Avenue Every once in awhile, while covering the older workers and personal finance beats, I run across a research report that stops me cold. “Hidden Workers: Untapped Talent” fits that bill, revealing the cruel underbelly of hiring. I’d even call it explosive. The findings of the 74-page “Hidden Workers: Untapped Talent” come

As public pensions across the nation continue to spiral downward, pension trustees and participants, unions, and taxpayers in states including Alabama, California, Florida, Kentucky, Illinois, Ohio, North Carolina and Rhode Island are increasingly raising their voices to urge the SEC to stop rampant mismanagement of pension investments and looting by Wall Street. While the SEC

Today’s column addresses questions about the potential effects of pensions on the availability of spousal benefits, statistics about what benefit amounts different people receive and potential effects of filing for survivor’s benefits early and while working. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,

When Washington State legislators approved a public long-term care (LTC) insurance program in 2019, they made a last-minute change: Residents could opt out if they purchased private LTC coverage by Nov 1, 2021. Those who remained would pay an annual payroll tax surcharge of 0.58 percent starting next year and, in return, be eligible for

As economic inequality continues to grow, Social Security remains a vital source of retirement income for most older Americans. In fact, a large portion of older Americans, 40 percent by some estimates, receive retirement benefits from Social Security, but lack income from a pension, 401(k) or IRA in retirement. Why? A big part of the

Pauline, a local resident in Marin County, CA just turned 114. The local senior center she attends is celebrating her birthday along with many others. She is easily the oldest person in my county and one of the oldest in the entire U.S. She’s alert, active, healthy and happy. Is it some magical run of

If you recently retired or are planning to, you likely have questions about how to position your investments going forward. Conventional wisdom suggests investors should change their asset allocation in retirement to be more conservative. However, depending on your pre-retirement asset allocation, income sources/needs, and long-term goals, that may not be advisable. Here are a

Today’s column addresses questions about whether and how public pensions could affect survivor’s benefits, the merits of delaying until 70 to file if possible and whether spousal benefits are available after long term separation. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See

A friend of mine, in an animated mood once declared, “everything is in flux; it’s fluxing more and more each day!” That’s how many feel about the back and forth pronouncements concerning proposed tax changes. In Congress, the revenue raising provisions (think “taxes”) to fund the physical and human infrastructure bills seem to be getting

With so many ways to pursue a higher education or increased expertise in a trade, craft, or industry, more and more parents are asking what the best way is to save for future education costs. My answer is often a combination of things. If I were forced to narrow it down, my two favorite ways

Akiva ben Yosef was an influential first century rabbi, living in Roman territory, who inspired many followers. He has a lesson to teach us that is just as pertinent today as it was 2,000 years ago, and especially applicable within the context of financial life planning.  As legend would have it, Rabbi Akiva was journeying

It’s easy to quantify the pain that high levels of debt can cause to one’s finances by either looking at the opportunity cost or the squeeze on the ability to pay day-to-day expenses. But causing pain to the actual body? According to new research, the ache you may feel or the stiffness after work may

By Kerry Hannon, Next Avenue In April, after 17 years at Fidelity Investments, personal finance editor David Conti, 61, opted for an early retirement buyout package. Conti, who lives in Hampton Falls, N.H. and is now a retirement editorial marketing consultant and freelancer, credits his smooth second-act transition in part to working with a career coach

By Nancy J. Altman, Next Avenue When people think of paid family and medical leave, they often think of parents taking time off to bond with their newborns. As important as that is, an often-overlooked group that also urgently needs a robust system of paid leave is older Americans — even those who are retired. Congress

By Kerri Fivecoat-Campbell, Next Avenue In August, while checking her email, Deb (she prefers not to reveal her last name) was alarmed to read one she received that looked like it came from the online payment company PayPal PYPL . It said someone had accessed her PayPal account and taken $500 from her linked bank account.

I was a caregiver for my dad. It was extremely rewarding. And incredibly difficult. It was, in fact, the hardest thing I ever have done. Many family care partners pay a high physical, emotional, and financial price for what they do. Now, as Congress is debating major policy changes aimed at making the lives of

The pandemic is not over, but many of us made travel plans long ago, hoping it would be over by this time. Delayed events, rescheduled celebrations and other family gatherings are still on the calendars of families and aging loved ones. Time has passed since the first thoughts of getting together in person, traveling from

Yesterday Congress avoided a government shutdown. But the fix is temporary. And all the uncertainty caused the stock market to plunge almost 5% for the month of September. Since Republicans are adamant about not raising the debt limit; there is more trouble ahead.   What would a government shutdown mean for ordinary Americans? Since essential

Older (aka) geriatric millennials have already turned forty, while the more senior members of Generation X are hitting age 60. Regardless of your generation, you should be asking, “How much should I have saved” (at various ages). Many millennials are already on the retirement-saving bandwagon. The same could be said for a small portion of

When the Trump Tax Act was enacted in 2017, estate planning attorneys warned their wealthy clients the approximately $11 million lifetime federal estate tax exemption was not going to last forever. It was, and currently still is, scheduled to drop back down to $5 million (adjusted for inflation) on January 1, 2026 barring action by

Today’s column addresses questions about the earnings test and independent contractors, whether early reductions to disabled widow’s benefits are permanent and the possibility of taking spousal benefits only after early retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask

There’s a lot of interest this year in converting traditional IRAs and 401(k)s to Roth IRAs. Some people hesitate to convert their IRAs, however, because of concerns about the confusing “five-year rule” for Roth IRAs. Future distributions from a Roth IRA are tax free when they are “qualified distributions.” Meeting the five-year rule is one

If there’s one thing we know about the Budget Reconciliation bill that the Biden Administration and the Democrats in Congress are aiming to pass, it’s that its cost is $3.5 Trillion. Or, according to its supporters, it’s cost-free, that is, because they are defining “cost” to mean net effect on the national debt. (President Biden

Many families face the issue of a once powerful head of the family, in charge of all finances, now showing signs of dementia. Whether it is diagnosed or not, it is an issue that must be addressed. The family’s financial security can be in jeopardy. It typically starts with an aging parent who has some

Childlessness is something the U.S. Census Bureau has never bothered to explore––until now. Those of us who have a keen interest in solo aging (adults over 55 with no children and those aging alone for other reasons) have been aware for many years of the rise in childlessness among boomers. The reverberations of this rise in childlessness

There are nearly 32 million small businesses in the United States, according to the Small Business Association. Of those, 81% are single-person entities with no employees on the payroll. According to PNC, while 60% to 70% of small business owners want to pass along their business to the next generation, only 15% have an actual

Adding crypto to your retirement investments With the recent rise in popularity and price of cryptocurrencies, many people are still trying to figure out how to efficiently invest in the new digital asset class. While would be investors are waiting for the SEC to hopefully grant approval for the creation of crypto ETFs, which would