Mutual Funds

It is time to change the rules: If you want to work around vulnerable older adults. You must be vaccinated. For their safety. For yours. And for the safety of your own family. Eight months after the vaccine was made widely available to health care workers, only about 60 percent of nursing home staff has

Today’s column addresses questions about whether it would be worth it for a spouse to continue working so that could draw their own Social Security retirement benefit, whether working more can increase an existing benefit and survivor’s benefits after remarriage at 60. Larry Kotlikoff is a Professor of Economics at Boston University and the founder

With a couple of months of inflation data yet to be seen, it looks like those collecting Social Security are in store for a significant increase in 2022. The most recent Consumer Price Index (CPI) announcement for the month of June revealed a 5.4% annual rate, and the Senior Citizens League estimates the final number

Until now, the Biden Administration and congressional Democrats have focused on Medicaid’s home-based long-term care program. This week, powerful Hill Democrats turned their attention to nursing homes. And they are offering a tough bargain: More funding in exchange for significant staffing reform. They also are proposing a major federal initiative to encourage the development of

Deferred compensation plans have become an integral way to save for retirement. They typically come in two general forms. The first is a qualified deferred compensation plan that is governed by ERISA rules, which include the more familiar 401(k) and 403(b) plans. The second is less common and technically known as a non-qualified deferred compensation

Despite the pandemic, many Gen Z’ers are graduating from college and setting their course for success. This is a generation of young people who know what they want out of life and have the financial literacy tools – from podcasts to online platforms – to save for retirement, maximize their savings and achieve their goals.  

Today’s column addresses questions about taking survivor’s benefits early before retirement benefits once they’ve increased, potential negative repercussions of taking spousal benefits and how to claim retirement benefits after taking spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize

Yes, COVID-19 makes the advice to work longer in old age a cruel suggestion since older workers were hardest hit in the 2020 recession. But it isn’t just COVID-19 that makes it difficult, the labor market has been forcing older workers out for years. The obsession with telling people to work longer because they don’t have

July was a productive month for the IRS when it came to getting payments to taxpayers. Yet frustration continues to bubble for those who are still awaiting their refunds from tax returns that have not yet been processed. Unemployment Adjustments The IRS announced on July 28 that another 1.5 million taxpayers were receiving refunds averaging

State treasurers around the nation are spearheading efforts to improve financial literacy. While they may have different experiences or motivations for their efforts to impact positive change, they all agree that more needs to be done to improve people’s financial knowledge and change consumption habits. The efforts of these elected officials, while commendable, fail to

Today’s column addresses questions about whether investment withdrawals can make Social Security benefits subject to income taxes, potential options for filing when you have more than one ex and suspending a retirement benefit after it converted from a disability benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

A little over four years ago, it occurred to me that my wife Jet and I had essentially experienced what modern physics would tell us is not possible: At the very moment that my wife and I were enjoying the scenery during our relaxing, unhurried walk with our dogs, the hard water stains in our

The BiPartisan Policy Center (BPC) recently sent President Joseph Biden a letter that urged him to create a retirement security task force. The aim of the group would be to examine solutions to common retirement risks, such as savings shortfalls, low interest rates, and soaring costs for health care and long-term care. The letter was

In Marin County CA, where we have life expectancies greater than for most people in the US, even here, one stands out. She’s the county’s oldest resident, Pauline Angleman, 112 years old. She has been studied, celebrated, interviewed, honored by President and Michelle Obama and she continues to amaze doctors. One of them studying her,

By Richard Eisenberg, Next Avenue Editor We’ve all seen how Olympic gymnast extraordinaire Simone Biles has been struggling with mental health issues, causing her to drop out of events at the games and performing the work she loves. Financial therapist Joyce Marter, author of the intriguing new book “The Financial Mindset Fix,” says our mental health

The email comes as a notification that you have been charged a specified amount for an item or service you never ordered. It is not a bill requesting payment, which you would immediately delete. Rather it is a notification of a payment that allegedly you have already made through a bank deposit or credit card.

By Chris Farrell, Next Avenue ADVERTISEMENT Britney Spears’ newsy and disheartening conservatorship nightmare has brought to public consciousness the immense power that court-ordered guardians wield over their charges and raised alarms about the potential for abuse. And now — finally — thanks to the sad story of the 39-year-old pop star, efforts are underway to tackle the longstanding

By Kerry Hannon, Next Avenue Here’s the latest discouraging news for older job applicants: Hiring managers around the world have serious concerns about the abilities of people 45+ to learn new technologies and skills and to work with other generations, even though when they hire them, 87% of those employees perform as well, or better, than colleagues

Private equity funds are the greatest wealth builders ever invented on Wall Street. So why have the retail versions of the dealmakers’ funds, peddled by Merrill Lynch and other brokers, performed so poorly? by Antoine Gara and Jason Bisnoff Former Merrill Lynch broker Kurt Stein vividly remembers the day in the spring of 2011 when

Today’s column addresses questions about whether it’s possible to reapply for a retirement benefit so it starts earlier, the procedure for switching from a spousal benefit to a retirement benefit at 70 and the earnings test’s potential effects on survivor’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and

The Roth IRA Peter Thiel used to amass billions in tax-free dollars has renewed interest in using tax-advantaged retirement plans as a means for accumulating wealth. What hangs up entrepreneurs is they don’t want to set aside wealth only to have it be taxed away. Whether you think of this as greed or good business,

Do you need a financial plan? Maybe not. A full written financial plan is a robust analysis as of one point in time. This differs from general financial planning, which the Certified Financial Planner Board describes as advice on how to achieve short and long-term financial goals. You can’t have a financial plan without financial

Jeff Schneble knows that most people don’t hear the term 401(k) and get excited — but he does. For the CEO of Human Interest, it’s about the opportunity to give more people access to a retirement savings and investing plan. His startup builds retirement plans catered to small and medium-sized businesses left behind by outsized

Conventional wisdom says that the reason for public sector pension plans’ poor track record on funding levels is that benefit levels are simply too high, causing politicians to kick the can down the road perpetually. In Illinois, for example, “Tier 1” teachers can retire at any age, after 35 years of service, without any reduction

Lawyers may throw around the term “diminished capacity” in dealing with elders because they have to be aware of elders signing things they may not understand. Lawyers are supposed to protect against that. Financial advisors use the term in a general way, suggesting that some people with this may need help from trusted others in

Recent reporting with reminders about the potential power of the “Mega Backdoor Roth” conversion strategy in a 401(k) plan has been compelling. Who wouldn’t like to contribute as much as $58,000 to their 401(k) and not have to pay taxes in the future? Like most things in life, there are rules, caveats, and limitations. Unfortunately,

The economy is in a good spot right now, but Congress needs to act quickly to strengthen the recovery further. Millions of people are still looking for a job and face financial hardship such as evictions without continued strong economic growth. At the same time, the pandemic has changed face again with the Delta variant

Last week, The Washington Post lifted up a national priority — closing the retirement wealth gap in the U.S. But WaPo pulled its punches. The urgency to help the millions of middle class Americans who will be poor in retirement could cause political instability and invite backlash. Too few Americans have a direct stake in national economic

Recently, I’ve spoken with several people who are worried about losing some or all their Social Security benefits because of a divorce. This concern points to the confusion surrounding spousal benefits for Social Security. Divorce and subsequent marriages may alter your Social Security claiming options, but will a divorce mean your ex-spouse can take some

Every two years, the National Institute on Retirement Security surveys Americans to measure their sentiment about retirement. The most recent polling again found that most Americans remain worried about retirement.   More than two-thirds of Americans (67 percent) say the nation faces a retirement crisis. And, more than half (56 percent) are concerned that they