Mutual Funds

The past 15 months haven’t been easy for anyone, but older workers experienced a unique set of circumstances that increase their risk of financial challenges in retirement. As the American population continues to age, the outcomes of those in the workforce age 55 and older must be front-and-center in the minds of policymakers in charting

As people age, a top priority is remaining independent and healthy enough to keep living on their own. So what’s the financial pathway to making that happen? Through the years, most of us make financial mistakes that we recover from. But here, we want to talk about one big bungle many people make that does have lasting effects: spending money from their retirement accounts before they retire.  Sometimes, as we all know life happens, hardship hits, and you

By Richard Eisenberg, Next Avenue Editor A headline on Stanford University Business School’s Insights site caught my eye recently: “Workplace Equality for All! (Unless They’re Old).” The piece described fascinating research by NYU’s Michael North and Stanford’s Ashley Martin which found that workers who openly oppose racism and sexism were still prejudiced against older workers. As

By Kerry Hannon, Next Avenue As employees inch their way back to the office, are employers acknowledging that caregiving for aging parents, spouses, partners and close relatives is a front and center concern for their workers? It looks like it. At the very least, based on my reporting talking with employers, workers and benefits professionals, the

By Jeanette Hurt, Next Avenue Pop music guitarist, producer, arranger and songwriter Neil Giraldo, 61, was working on a screenplay about local musicians and their struggles in 2016 and one of his partners in the endeavor suggested they find a spirits company to sponsor the movie trailer. Instead, Giraldo told his partner, “Why don’t we start

Two types of early retirements have become more and more prominent through the pandemic recovery. Despite the number of job openings reaching the highest level since the Bureau of Labor Statistics began tracking the measure in 2006, labor force participation among those 55 or older continues to decline. This indicates that more people over the

Those interested in where the world’s monetary gold is held will want to read New York Federal Gold Vault, which appears on an interesting website called Atlas Obscura (AO). Readers will learn there that a major chunk of the world’s gold, the portion that constitutes the reserves of most of the central banks of the

We recently hosted Dave Donabedian, CFA, chief investment officer at CIBC Private Wealth, on the Wealth Your Way podcast. The topic of discussion was cryptocurrencies. Are you curious about crypto? There’s been a tremendous amount of hype about how cryptocurrencies are the “next big thing” in the digital revolution, and how they have the potential

Today’s column addresses questions about the potential to still take spousal benefits while delaying retirement benefits, how public pensions can affect spousal benefits and possible options when eligible for retirement and divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

The low- or no-interest family loan is one of the best strategies to hedge against the numerous proposed increases in income and estate taxes and to take advantage of today’s low interest rates. A family loan reduces income and estate taxes under the current law but also has flexibility so it can be adapted to

As people age, sometimes they are more willing to overlook what needs fixing at home. Maybe it feels like too much to vet contractors, or get bids. One gentleman in his 80’s comments at AgingParents.com, “I’ll just let my kids take care of it. I’ll probably be gone in five years”. Is that fair? We

The United States is currently experiencing its sharpest growth ever in older adults.  Those over 65 now number approximately 57 million. Medicare statistics show that by 2050, that number will grow to over 80 million and a very large percentage of those will be in the 85+ category. That is the category that requires the most long-term care

At what point do you achieve financial independence? Is it when you don’t care whether the market goes up or down? Is it after your last child graduates from college? Is it when you simply don’t care about money anymore? You have your own definition of financial independence for one very good reason: it means

Today’s column addresses questions about whether previous cost of living allowances apply when a survivor’s benefit is claimed, whether a foreign pension will reduce a spousal benefit and what disability benefits might change at 62. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc,

Recent fires, floods, and extreme heat events are demonstrating that climate change is here—now—not some day in the distant future. How could that realization impact your retirement plans? Any concern you might feel about climate change could depend in part on your age. A recent survey conducted by the Society of Actuaries (SOA), titled “Financial

One of the most common questions we receive centers around the decision with what to do with your old 401(k) account. We analyze multiple ways to look at whether to stay or move strategically, but if you decide to move the funds from one firm to another, how do you best proceed? Here is what to know

Companies that have been severely impacted by the pandemic have turned to early retirement offers as a way to reduce their workforce. If your employer has a defined benefit pension plan, your offer may include the option of selecting a monthly pension paid throughout your lifetime or a single lump sum distribution of approximately the

Congratulations! Your child has a job! Now what? ADVERTISEMENT How about a Child IRA? Your child won’t be thinking of this, but you should. It doesn’t matter if the work is a full-fledged 1099-producing summer job or just a little gig helping out with the neighbor’s chores. You might not think this is a top

It’s no secret that America’s struggling public pensions are a hot mess. Lack of comprehensive state regulation; the failure of legislative oversight; lay boards lacking investment experience; Wall Street donations to the campaigns of corrupt influential politicians and law enforcement indifference, all contribute to the morass. It seems, on the one hand, no one with

Today’s column addresses questions about effects go years with no income on Social Security benefit rates, how the family maximum that can be claimed on a single record can affect the distribution of benefits among multiple children and what happens to benefits when the recipient dies. Larry Kotlikoff is a Professor of Economics at Boston

Consider it the rite of American passage. It’s the classic paper route, lemonade stand, babysitting and cutting the neighbors lawn. Any one of these “chores” can earn a child enough money for some fun things… and more. It’s this “and more” part where things begin to get tricky. Perhaps the most lucrative perk for kids

By the time you read this, you might be thinking, “The summer is almost over.” That doesn’t change anything. Believe it or not, it’s not too late to take full advantage of this summer job opportunity. In fact, you probably have until next April to make your final decision. Unfortunately, most times teenagers only think

By Chris Farrell, Next Avenue You probably heard: Meghan McCain is leaving ABC ‘s “The View” after nearly four years. Among her reasons for quitting is that COVID-19 “has changed the world for all of us,” she told The Guardian. “It’s changed the way I’m looking at my life, the way I’m living my life, the

By Kerry Hannon, Next Avenue Time to dispel the myth that midlife and older entrepreneurs (and employees) are set in their ways and baffled by technology. Those shibboleths are far from the reality I found when I checked in with a handful of the 20 entrepreneurs who I interviewed for my 2019 book, “Never Too Old

By Lyle Solomon, Next Avenue As you save for retirement, it’s beneficial to know how much to save and whether you’re on the right track. Everyone’s situation is different, of course, but there are some useful retirement benchmarks that can give you a sense of how you’re doing to reach your goals. After comparing your numbers to the benchmarks,

At some point, enough is enough. You enjoy your business, but making money simply doesn’t have the same appeal as it once did. You have enough. But you love your business so much you aren’t ready to give it up. So, you begin to consider strategies to use those continuing earnings in a way that

Congressional Democrats are expected to include a broad expansion of traditional Medicare benefits— including dental, vision, and hearing—in a $3.5 trillion social spending bill they’ll consider later this year. The move would be the biggest expansion of Medicare since Congress added a drug benefit in 2003 and would go a long way toward improving the

Today’s column addresses questions about when Social Security spousal benefits can be available, a reason there might be years with no income on a person’s Social Security earnings record and how much benefits are reduced for filing early. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic

People frequently tell me that they took a financial action at least partly “because it would save a few tax dollars.” Too often, a careful analysis of the situation reveals the action leaves them with fewer after-tax dollars. A classic case is the mortgage interest deduction. People often believe that owning a home with a

What do Americans believe about Social Security? A new poll by Nationwide Financial, with splits by generation, gives us some answers. Here are four key items from the survey: Millennials are much less informed about the general nature of benefits: on average, this age group (ages 25 – 40) guessed that the full retirement eligibility