Mutual Funds

Representative John Garamendi (D-CA) recently introduced a new bill that could change how the Social Security cost-of-living adjustments are calculated. The bill titled “Fair COLA for Seniors Act of 2021” would require the Consumer Price Index for the Elderly (CPI-E) to calculate what could be described as a fair Social Security cost-of-living adjustment for the

It’s very common for family members to become caregivers for other family members or help them financially when medical care or long-term care is needed. It’s also common for these families to leave money on the table by not taking all the tax breaks they could. The care could take many forms. An adult child

When we talk about estate planning in 2021 and beyond, what are we doing with our wealth and investing if tax rates start going up? How has technology changed the estate planning process? Should you sell a business or change your succession plan in light of potential legal changes coming from D.C.? Estate planning is

Today’s column addresses questions about a strategy to maximize a survivor’s benefit, whether SSA recalculates benefit rates due to continued SSA taxed income and whether the WEP applies to pensions based on totalization agreements. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

Rising inflation has been cause for concern after the most recent June consumer price index reading increased 5.4% from a year earlier. This was the largest jump since August, 2008.  Investors therefore are seeking a hedge against inflation as speculation grows that this may be more than transitory. A sector investment into commodities, specifically a

When you are in your 20s, retirement is a lifetime away. So why do young adults already find themselves stressed about reaching financial independence? A poll from Credit Ninja revealed some very interesting insights, including certain states where retirement worry starts as early as 19. The results. In the poll of 3,000 people, the main

As markets remain volatile, inflation creeps up, and taxes are poised to rise for wealthy taxpayers, a growing number of investors are expressing concerns about their prospects for life in retirement. A recent study on the biggest risks to retirement security looked at the top concerns among investors who plan to retire in the next

Most Americans don’t know what they don’t know about Social Security. A lot of what they think they know is wrong. Since Social Security is a major source of retirement income for many retirees, the lack of information and misinformation can be very costly. Most Americans believe their Social Security retirement benefits will be enough

Today’s column addresses questions about which benefits on a worker’s record are subject to the earnings test, how survivor benefits are determined and whether having filed a restricted application for spousal benefits only mean you must file for retirement benefits at the same office. Larry Kotlikoff is a Professor of Economics at Boston University and

“Not everything that can be counted counts, and not everything that counts can be counted.” Albert Einstein Indeed, this is hardly the only quote of Einstein’s that relates to personal finance, and almost certainly not his most famous. That award likely goes to: “Compound interest is the eighth wonder of the world. He who understands

Aging brings many changes but one thing we all have in common at any age is the need for connection and a sense of purpose in our lives as adults. As people age, they sometimes feel a loss of purpose. We, as family members can do something about that. Some habitually unhappy folks are not

The pain of inflation is often harshest on the budgets of retirees on fixed incomes. The only bright light of the recent spike in the consumer price index is the potential for a more significant Social Security cost-of-living adjustment (COLA) this year. Estimates of the Social Security COLA in 2021 (for 2022) have been in

The web site ProPublica recently reported that billionaire Peter Thiel has a Roth IRA with a value of more than $5 billion. That has leaders in Congress up in arms and talking about passing laws that could affect your IRA. The web site says it obtained IRS data or taxpayers’ filed returns, though it didn’t

Today’s column addresses questions about whether it’s possible to collect both a retirement benefit and a survivor’s benefit at the same time, whether benefits for disabled adult children depend on when the parent files and whether paying back SSA tax will increase benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the

“Loneliness and social isolation in older adults are serious public health risks affecting a significant number of people in the United States and putting them at risk for dementia and other serious medical conditions.” ADVERTISEMENT That’s from the CDC, in their informational content titled, “Loneliness and Social Isolation Linked to Serious Health Conditions.” The material

A key and controversial provision of President Biden’s tax overhaul proposal would cost families billions of dollars in additional taxes is the proposed shift from ‘Step-up’ basis to ‘Carryover’ basis. In addition, death and gift would be deemed transactions, so heirs would face massive tax bills. These changes, though seemingly small, would add up to

One of the trends that has emerged during the COVID-19 pandemic is the growth in the number of new, young investors, spurred on by easy-to-use investment apps and developments such as stock slices – the ability to buy a piece of a high-priced stock as opposed to a whole share. ADVERTISEMENT They have entered the

As I’ve said before, the first step to rehabbing your finances is admitting you have a problem. And I know what you’re thinking. You’re thinking, okay Nicole, I’ve admitted it, I have a problem, I’m shouting it from the rooftops, but what happens now? Maybe the old you had some bad money habits, and you

In 1974, the Oldsmobile Ninety-Eight was a popular car – and the Employee Retirement Income Security Act (ERISA) was enacted to govern the US pension system. A lot has changed since 1974. Oldsmobile no longer exists, for one thing. The “typical” American family comes in many more shapes and sizes. And American workers are unlikely

Most people follow the straightforward path of real estate: We buy, we own our home, we live there for a number of years, the house appreciates in value, and we sell it. Do we pay taxes on that appreciation? For most Americans, the answer is no. This is due to Internal Revenue Code, section 121,

Today’s column addresses questions about Social Security’s earnings test, options once reaching full retirement age and having received disability benefits and which month can be optimal to file in. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social Security

Social Security is a program you get the joy of paying into your entire working life. The prospect of this valuable retirement income stream not being there once you leave the workforce is alarming to many Americans. As it stands now, it is not a question of “if Social Security will run out of money” but

For some adult children who have unpleasant, oppositional aging parents, there is a strong motivation to stay out of their affairs. That’s understandable. No one likes to be yelled at and rejected. You want self-protection. But unwillingness to confront impaired aging parents can carry an extreme price tag. This is a real story with the

For months, multiemployer pension plan sponsors, participants, and their advocates have been waiting to see how the PBGC (Pension Benefit Guaranty Corporation) would interpret the American Rescue Plan’s legislation providing bailout money to multiemployer pensions, the The Emergency Pension Plan Relief Act of 2021 (EPPRA), which, as regular readers will recall, left multiple issues very

By Nancy Collamer, Next Avenue With the job market heating up — a historically high 9.3 million job openings in the U.S. in April — what should you know about getting hired if you’re looking for work? Will virtual interviews continue? Is remote work here to stay? Are diversity and inclusion efforts just a fleeting fad?

By Joe Seldner, Next Avenue If 40 million Americans were suffering from the same severe problem, you might think it would be the subject of considerable media attention, a host of government programs, infusions of business capital and a hot topic of national conversation. That is certainly what I thought several years ago when I began

By Sheila Weller, Next Avenue Dana Coen has had, by all measures, a splendid career as a TV co-executive producer for Fox’s “Bones” and CBS’ “JAG.” He’s been a story editor and a staff writer for hit shows from “General Hospital” to “The Wonder Years,” a playwright, stage director and stage actor. And he currently administers

A number of Forbes.com readers have some specific questions about Advance Child Tax Credit (CTC) payments, which are set to begin in mid-July. The IRS has some answers. New Arrival? Normally, the IRS would use a taxpayer’s 2020 or 2019 tax return to determine CTC eligibility, but what about a baby born in 2021? Readers

A popular retirement planning product, particularly for higher tax bracket individuals, is cash value life insurance. In addition to providing liquidity in the event of an unexpected death, the cash values represent additional lifetime protection. The funds can be used as a volatility buffer during down markets, plus they can be a source for tax-free

The Great Resignation and the future of work is just one indicator of something larger happening in a post-pandemic society – we are undergoing a Great Reframing of life’s choices and behaviors redefining how we view work and everything else. Keith worked for the same real estate firm for many years. “I was their numbers