Mutual Funds

AOC and Kevin McCarthy agreed on a bill and voted together in the House of Representatives! Really. It’s true! Bipartisanship lives on. In March, Democrats Alexandria Ocasio Cortez and Nancy Pelosi and Republicans Marjorie Taylor Greene and Kevin McCarthy—all four in opposite corners of the American political scene—voted for SECURE 2.0, a retirement reform bill

As a financial advisor, there are a lot of questions I get asked almost daily. Surprisingly, “are you a fiduciary?” is not one of them. This could be the most important question you ask your current or potential advisor, and yet it seems that few people know to ask it. It’s time to change that.

With inflation numbers skyrocketing to 40-year highs, the ubiquitous I-Bond will reset its interest rate on May 1 to 9.62% for 6 months. Thus, on your $10,000 investment, you’d make a guaranteed (no principal risk) 4.31%. No state tax and ultra-low risk, this sounds good, right? Using some quick math, that works out to be

Many people are familiar with income and estate taxes but not many know what the generation skipping transfer (GST) tax is or how it can impact the monies you leave your heirs. The GST tax is imposed on monies you leave directly to grandchildren or to trusts that will ultimately benefit them. Think of it

Topline The International Monetary Fund warned on Tuesday that global economic growth will be “severely set back” by the fallout from Russia’s war with Ukraine, the effects of which will be felt “far and wide” as the conflict adds to global pricing pressures and fuels inflation. Key Facts The IMF issued a “significant downgrade” to

Topline The stock market moved lower on Monday—extending a recent losing streak—while rates surged ahead of a big week of quarterly earnings results, with investors remaining nervous about the impact of surging inflation on corporate profits and consumer spending. Key Facts Stocks added to last week’s losses, despite a comeback late in the day: The

In all the excitement about the crack in Amazon and Starbucks’ anti-union armor as workers post big union wins, one might think that labor power in America is rising. But unionization is just one of 10 indicators of worker bargaining power—and of these, only five show worker power is up. Why does worker power matter?

While we were celebrating Passover and Easter with our loved ones and family, National Health Care Decisions Day came and went. It was on Saturday, April 16. It was designated to remind us that no matter our age, planning for the inevitable day when we cannot make our own health care decisions is more than

If you are 65 or older, should you expect to need a significant level of long-term care? And can you predict that need? The short answers are yes. And no. You absolutely should expect to need that care. And, unless you already are very poor, you should plan to pay for at least some of

Can You Get A Tax Refund If You Don’t File A Tax Return? If you earn below a certain dollar amount, you are not required to file a tax return. What happens if the IRS owes you a tax refund? Who does need to file? The IRS provides a chart with minimum gross income levels

By Richard Eisenberg, Next Avenue Every so often, a new buzzword seems to come out of nowhere and suddenly feel ubiquitous. Right now, that word is “metaverse,” which means using virtual reality (VR) headsets or augmented reality (AR) eyewear or apps to make the internet more interactive and 3D. Euromonitor International calls the metaverse movement

By Andy Levine, Next Avenue Russell Brent’s mother was a master knitter. And she taught her son to knit at a young age. As Brent remembers it, “I learned how to push two sticks around with a little bit of yarn, cables and lace and that sort of thing.” But it was the mid-1970s and

Behind the sunny spin about the U.S. economy’s low unemployment rates, many older Americans are battling some grim realities. Take 67-year-old Tina Caston, who worked more than 20 years as an operations officer in the U.S. Navy and was ready for a comfortable retirement. Then, when her savings didn’t keep pace with rising costs of

By Bart Astor, Next Avenue I don’t even know where to begin,” Sindy Steinberg told me after her husband died. “I’m just trying to stay on top of the bills. I don’t even know all the passwords for the bank accounts and investments.” I heard this repeated from all the recent widows — and widowers

If there is an aging loved one in your life, chances are they’ve got some chronic medical conditions. Heart disease, high blood pressure, respiratory disease, and other common issues bring them to the doctor. And the primary care doctor makes referrals to specialists. Each specialist focuses on their area of expertise and prescribes medications to

Today’s Social Security column addresses questions about early filing reductions and delayed retirement credits, filing with a spouse and a disabled child and how survivor’s benefits are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers here. Have

Topline Shares of JPMorgan Chase, the biggest U.S. bank by assets, fell on Wednesday after the firm reported earnings which showed profits declined sharply from last year due to market upheaval caused by Russia’s invasion of Ukraine, surging inflation and lasting supply chain problems. Key Facts While JPMorgan’s quarterly revenue came in slightly higher than

Introduction So you’re married. You received a gift from Aunt Jane while she was alive. Your dad bequeathed you a generous sum of money on his passing. Those gifted and inherited assets in many instances will be considered “separate property,” not marital property. That might mean that they might not be subject to division if

Topline The stock market opened higher on Tuesday, even after consumer prices spiked 8.5% in the 12 months ending in March, as some investors hope that inflation is showing signs of moderating, with core inflation—excluding volatile food and energy prices—coming in lower than expected. Key Facts Stocks opened higher before turning negative later in the

The Merriam-Webster Online Dictionary defines fine print as “something thoroughly and often deliberately obscure; especially a part of an agreement or document spelling out restrictions and limitations often in small type or obscure language.” You know all about this. You’re trying to purchase something online and then, at the last minute, you have to check

Topline Despite consumer prices hitting a new four-decade high last month, the latest data show several signs that prices may be moderating slightly, with economists now predicting that inflation may have peaked—though they warn prices will likely remain elevated into next year. Key Facts Though consumer prices spiked 8.5% in the 12 months ending in

We’re about a week away from a certain day in April (now April 18) that’s known to most people only as the dreaded tax day, but it’s also the deadline to make contributions to an IRA (and an HSA if you’re eligible) for 2021. Contributing to a Roth IRA can be particularly beneficial. (If your

For most adult children with aging loved ones who were responsible investors, there is a sense of security. There is nothing to worry about. They have a seven-figure investment portfolio and they own their home outright. No one expects them to run out of money. But can they? The answer depends on two things: how

Topline Billionaire investor Ron Baron, one of Tesla’s largest shareholders, told CNBC in an interview Thursday that Elon Musk’s roughly $3 billion stake in Twitter is “meaningless” and that investors should be more excited about what he predicts are massive gains ahead for Tesla, even though shares have struggled so far this year. Key Facts

The House recently passed H.R. 2954 Securing a Strong Retirement Act, being referred to as the Secure 2.0 Act, which has overwhelming bi-partisan support, with a vote of 414 in favor and only 5 opposing. The Act includes a great benefit for those individuals who are working on paying off their student loan debt but

Topline Major oil and gas companies, which scrambled to abandon operations in Russia following the invasion of Ukraine in late February, are now warning that doing so will result in billions of dollars of losses. Key Facts Shell disclosed Thursday that its suspension of operations in Russia could lead it to book as much as

Do you know anyone who would turn down $1.5 billion, or at least a share of it? The IRS does. More specifically, the IRS knows that an estimated 1.5 million taxpayers are owed unclaimed tax refunds totaling almost $1.5 billion. But they haven’t received the money because they did not file a 2018 tax return

Retirees who own a valuable home but little else are a large but underserved minority who worry about running out of money before they die. Their major need is for an effective way to convert their housing wealth into spendable funds. The two potential approaches toward meeting this need are debt-based and equity-based. The first

Topline The stock market moved slightly higher on Thursday—clawing back some of its losses from earlier this week—as investors continued to assess recent comments from Federal Reserve officials on the central bank’s plan to combat surging inflation. Key Facts Stocks finished positive, rebounding somewhat from this week’s losses: The Dow Jones Industrial Average rose 0.3%,

America’s elders die sooner and are sicker than their counterparts in other rich nations. American elders also must work longer than their cohort abroad. These trends mean that Americans get fewer years of healthy retirement life than elders in comparable wealthy nations—five years less, in fact. One reason for this big gap in healthy retirement