Retirement

Is it possible that Congress will do nothing to improve long-term services and supports for older adults and younger people with disabilities or assist their families? Even after 603,000 people over age 65 were killed by Covid-19 in the past two years. Yes, it is possible. The House version of President Biden’s Build Back Better

As the jury debates the case against disgraced Theranos blood testing company founder Elizabeth Holmes who has been charged with wire fraud and conspiracy to commit wire fraud many are wondering why the jury still can’t decide whether she is a fraudster who intentionally misled investors or an ambitious startup executive who merely stretched the

Betty White died only a few weeks from her 100th birthday. Few people knew her, that is, really knew her as a person. Most of us knew her through her work. And, it is through her long life, and long work life, that we can draw some insight for our own possible futures and ideas

What’s on the agenda for retirement legislation in 2022? Let’s start with retirement initiatives that are waiting in the wings: The “SECURE Act 2.0” is a set of enhancements to 401(k)s and other retirement savings programs which has been in the works, well, pretty much ever since the original SECURE Act passed. Its House version

The Pew Research Center recently reported that half of U.S. adults 55 and older are retired. While the number of retired Americans age 55 and older grew by about 1 million per year between 2008 and 2019, over the past two years, the number of new retirees grew by 3.5 million. The rise in household

A major weakness of the HECM reverse mortgage program is that it is a stand-alone. Potential synergies from integrating HECMs into retirement plans have been ignored. This article provides one illustration. It shows how a HECM can be combined with an annuity to neutralize the high risk that accompanies a high-yield asset portfolio. Consider Mary

Several positive economic developments characterized 2021. The economy is on the mend from its steep decline and massive job losses at the beginning of the pandemic. But, a lot of work remains to be done to maintain economic momentum and build a truly inclusive economy. There are already signs of hope for a stronger, more

With the New Year, it’s meant to bring an air of optimism. But many people seem to be looking towards 2022 with dread in regards to their finances. According to a recent survey by Bankrate, only one-third of respondents expect their financial situation to improve this coming year. Those that believe their finances will significantly

If you want to optimize your savings opportunities, can you contribute to your 401(k) at work and to an IRA (individual retirement account) at the same time? Forbes.com readers want to know. P.H. wrote: My daughter has both a 401(k) at work and also contributes to a Roth IRA. Are there contribution limits here? She is 54

“What should I do with my old 401(k)” is one of the most common questions I get asked by new financial planning clients. Answering this question is often one of the biggest financial decisions you need to make when switching jobs. You essentially have four options to choose from, keep your old 401(k) where it

As 2021 comes to a close, it’s an important time to make sure your financials are buttoned up for the year. After all, there is no sense in losing out on money, paying penalties, or incurring additional taxes unless absolutely necessary. Here are some ideas to consider as we approach 2022. Making sure you are

You’ve likely seen the “same old” New Year’s resolutions pop up from year to year for pre-retirees and retirees: save more, spend less, downsize, declutter, and so on. While adopting these resolutions could improve your life in retirement, they don’t sound like much fun to think about around the New Year.  Here are four different

Household debt is ubiquitous, but some forms of debt are riskier and costlier than others. These include payday loans, credit cards and car loans. They can also include student loans. Households of color often are more likely to owe such debt than is the case for White households. The associated costs and risks make it

My brother, Dr. Dave Ghilarducci, the deputy public health officer in Santa Cruz County is both worried and understanding of people who don’t get vaccines. (On January 30, 2020 Dr. Dave was asked if America was ready for the novel coronavirus, he said “our hospitals aren’t ready for Saturday night.”) The data hits you like

To be clear, when I say, “Manchin-approved,” I refer to his insistence that programs not overspend and that be fully-funded gimmick-free, and his declaration just before Christmas that he would not vote on the Build Back Better bill in its current form, or in any version that the Biden administration was willing to agree to.

Along with a great many other agencies and private sector offices, Social Security offices shut down and sent their workers to work from home when the pandemic hit in March 2020. But their work-from-home mandate continues long after offices have opened up, driven by a union refusal to agree to return. In some cases, the

Households are sinking deeper into debt. Some of this debt creates especially large financial risks for households. They still need to repay that debt, even if they lose a job or encounter a health emergency, among other unforeseen events. As the pandemic rages on and gains speed again, the chances of such emergencies go up,

It came upon my wife and me slowly at first, and then, once we noticed it, it was almost impossible to ignore.  As just one example of what we saw, when we visited middle-to-upper end destinations in Mexico, we started to notice that bands of young women seemed to be everywhere. We would see them in

Covid-19 deaths in nursing homes have dropped dramatically but more work needs to be done, four Democratic Senators led by Senate Aging Committee Chair Bob Casey of Pennsylvania are warning. The deaths have dropped from more than 5,600 weekly from Thanksgiving 2020 to the first week of January 2021 to 425 per week for the

There are only a few days left before the end of the year to make charitable contributions for 2021. If you are like most taxpayers (an estimated nine out of 10, according to the IRS) who take the standard deduction as opposed to itemizing charitable contributions, there are important reminders. As in all cases, be