Mutual Funds

Most employees buy more health insurance than they need and save less for retirement than they should, according to a recent study from the TIAA Institute. This study provides a cautionary tale for millions of employees making benefits decisions during open enrollment. Researchers studied four years of data from a large university to identify mistakes employees made

getty We received the first official estimate of how badly the Covid-19 recession will hurt the Social Security trust funds, and the first government estimate is worse than some of the initial private estimates. The latest annual report from the trustees of Social Security, issued last April, estimated that the trust fund for retirement benefits

getty There are many people who feel that Social Security will not factor much in their retirement plans. They feel the benefit is too low to impact the quality of their retirement and that it may not be around much longer. In 2019, the average monthly benefit for Social Security was $1,427 for a single

If you know in advance that you’ll be moving once you retire, talk to your financial advisor about … [+] how that move can affect your retirement projections. getty It is common knowledge that states and cities have the autonomy to impose their own taxes on their residents. With that autonomy, it is natural that

Should you pay mortgage points in a low rate environment? getty Mortgage points are an upfront payment to the lender, expressed as a percent of the loan amount.  For example, one point on a $320,000 loan is $3,200.   Points are part of the price of a mortgage, along with the interest rate, and can be positive

The Maximum OUt-of-Pocket Limit For Medicare Advantage Plans Will Be $7,550 In 2021. getty The Open Enrollment Period began October 15. It’s the time to pay attention to your Medicare Advantage plan. So many things can change—premiums, networks, copayments, coinsurance, networks, extra benefits and more. But the big change this year, one that many may not

By Richard Eisenberg, Next Avenue Editor The Washington Post via Getty Images Unquestionably, there are plenty of urgent issues in the 2020 presidential election. But there’s one less urgent, yet equally critical one, that hasn’t received much attention: Social Security trust fund to pay retirement benefits is due to be depleted by 2035, perhaps even

Before the fact, the various crediting methods available should be approximately equal in terms of long-term performance. Performance after the fact will be different as the actual index return will be translated into different interest credited as based on the crediting method. But before market performance is realized, the different methods are all using the

CHICAGO, ILLINOIS – APRIL 16: Chicago mayor Lori Lightfoot arrives at Wrigley Field on April 16, … [+] 2020 in Chicago Illinois. Wrigley Field has been converted to a temporary satellite food packing and distribution center in cooperation with the Lakeville Food Pantry to support ongoing relief efforts underway in the city as a result

As a consultant to families with aging parents, I hear a lot about abuse of elders, particularly by family members. There are the “good son, bad son” stories and their counterparts of “good sister, bad sister” scenarios. In most cases, an adult child of an elder sees or hears about suspicious financial moves by someone

Economic Security Planning, Inc. Today’s column addresses questions about the effect of having collected a spousal benefit before filing retroactively for retirement benefits, potential effects of business losses on Social Security benefit rates and which full retirement age (FRA) applies to the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and

A careful strategy can help you take calculated investing risks during retirement. getty Today’s uncertain investing environment presents a serious dilemma to many pre-retirees and retirees: How much money can you afford to risk by investing in the stock market? On the one hand, you might be afraid of stock market crashes, since you might

The Covid-19 recession has led to higher unemployment six months and longer for those 55 and older than mid-career workers 35 to 54 in nearly half of a century, according to a new report by The New School’s Retirement Equity Lab (ReLab). First hired and last fired is changing: first in first out is becoming

By Ken Dychtwald, Next Avenue Contributor getty When our Constitution was crafted, the average life expectancy in the U.S. was barely 37 years and the median age was a mere 16. During the time of our Founding Fathers, there was no anticipation of an “age wave.” However, due to the combination of high life expectancies,

getty This year marks the 100 year anniversary of the ratification of the 19th Amendment, guaranteeing  women the right to vote. Yet issues of gender discrimination both within and outside of the workplace continue to be problematic, putting women at higher risk when it comes to retirement security than their male counterparts. While the recent

Which is better, a Roth or traditional 401(k)? The main difference between a Roth 401(k) and … [+] traditional 401(k) is the tax treatment of your contributions. getty Which is better, a Roth or traditional 401(k)? The central difference between a Roth 401(k) and traditional 401(k) is the tax treatment of your contributions. Investors make

Four steps to stay on track for s secure retirement. Keep on running so you don’t run out of money … [+] in retirement. AFP via Getty Images Being stuck at home for months and months, thanks to COVID-19, has many people rethinking what their dream retirement looks like. Others, who are out of work

Economic Security Planning, Inc. Today’s column addresses questions about what’s possible after suspending a retirement benefit, survivor pensions based on a spouse’s non-covered pension, responding to a notice of overpayment from Social Security and why spousal benefits may not have been available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder

Zero percent concept icon – 3D Rendered Image getty How does 3 years of 0% returns sound? I saw a popup ad this week, and it said something like “guess which stock is up 350% this year?!” I chuckled to myself and thought, in the perception of some investors, maybe all of them. My point:

getty Are you engaged to be married and wondering if you need a prenup? Or do you have a child who is getting ready to walk down the aisle and say “I do,” but have family assets that you want to protect?   When you’re in love and only thinking of starting your new life,

getty If you’ve been paying the least bit attention, you know there’s a concern that some 401(k) plans have excessive fees. Recent headlines attest to this, as plans are regularly involved in “excessive” fee lawsuits. Is your 401(k) plan burdened by high fees? Do you even know how to judge when a fee is too

ITALY – CIRCA 2003: Procession of the notaries through the streets of Perugia for the Feast of … [+] Candlemas, miniature from the manuscript concerning notaries’ guilds in Perugia. Italy, 15th century. Perugia, Biblioteca Capitolare (Library) (Photo by DeAgostini/Getty Images) De Agostini via Getty Images Who are “WEIRD” people? It’s a clever acronym, to denote

getty We tend to worry about retirement quite a bit, and with good reason. There are a number of different risks that could eat into your hard-earned retirement savings. The average joe often thinks of these risks as one or more of the following: a market crash, crippling debt, rising healthcare costs, and poor overall

It is also vitally important to understand that the amount of upside potential that can be offered by an FIA will vary over time as interest rates and call option prices change. With an annual reset design, the insurance company must repeat this process each year and will face different interest rates and call option

Brilliant vacation destination beaches like this are sprinkled all over Antigua and Barbuda. They … [+] are one of the main attractions of the citizenship by investment program this Caribbean country offers. getty Antigua and Barbuda is an independent Caribbean state and a member of the British Commonwealth. The country with its lush tropical islands

ATLANTA, GA – AUGUST 4: Branch President Raphael Bostic poses for portrait in front of Atlanta, … [+] Georgias Federal Reserve Bank on August 4, 2020. (Photo by Eric Hart Jr. for The Washington Post via Getty Images) The Washington Post via Getty Images The next Treasury secretary will have a mess on her or

getty The headline: “State district judge rules part of Houston’s pension reform is unconstitutional.” And the report is a bit of a head-scratcher at first: the firefighters’ pension fund complains that the city is using a lower valuation discount rate than they themselves would have used, which has the effect of increasing the city’s required

A caretaker baby boomer daughter talking with her mother in her 80s wearing protective mask getty The covid-19 pandemic has increased the burden on family caregivers and made Americans more insistent than ever on receiving their own care at home, rather than in a long-term care facility. Yet, they are in more denial than before

Consider all your sources of retirement income when making asset allocation decisions in retirement. getty In order to protect existing assets, retirees and their advisors are understandably concerned about avoiding financial losses due to stock market downturns. The primary concern is that if any losses occur, the retiree won’t have the ability or time to

PEMBROKE PINES, FLORIDA – OCTOBER 13: Wearing a face mask to reduce the risk posed by the … [+] coronavirus, Democratic presidential nominee Joe Biden delivers remarks about his ‘vision for older Americans’ at Southwest Focal Point Community Center October 13, 2020 in Pembroke Pines, Florida. With three weeks until Election Day, Biden is campaigning