Retirement

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www.nytimes.com
6 months ago
Retirement

A Shadow' Lending Market in the U.S., Funded by Insurance Premiums

Private equity firms have found a way to profit from the retirement savings of everyday Americans by acquiring portfolios of annuities.
Private equity firms now own nearly 9% of the U.S. life insurance industry's assets, up from 1% in 2012. [ more ]
www.nytimes.com
6 months ago
Retirement

Gen Z Is Poised to Spend More on Debt Than Others. It Could Derail Retirement.

Generation Z is facing challenges in keeping up their credit scores due to higher borrowing costs, slowing wage growth, and student loans.
More young adults are seeking help to manage their growing debt and lack knowledge of borrowing fundamentals. [ more ]
www.nytimes.com
7 months ago
Retirement

Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses

Federal law may protect workers' retirement savings in bankruptcy cases, but there can still be situations where employees lose money.
Workers at Bed Bath & Beyond, whose 401(k) plan was terminated due to bankruptcy, saw losses in guaranteed interest accounts.
Diversifying retirement savings is important to reduce the impact of losses in one investment. [ more ]
www.nytimes.com
7 months ago
Retirement

States' Paid Leave Plans Could Help Protect Caregivers' Savings

Paid caregiving leave is not offered at the federal level, but some states are implementing their own programs.
Minnesota and Maine are the latest states to offer paid caregiving leave, bringing the total to 13 states and the District of Columbia.
Advocacy organizations are pushing for more states to implement paid caregiving leave programs. [ more ]
www.nytimes.com
8 months ago
Retirement

Generation X Is Staring Down Retirement, and Student Loan Debt

Generation X is nearing retirement age and their retirement plans may be disrupted by debt.
Members of Generation X hold a significant amount of student loan debt, with an average of nearly $49,000 per borrower.
The student loan payment pause is coming to an end in September, and payments will be due in October.
The approaching deadline for student loan payments makes retirement planning more challenging for individuals like Renita Thompson.
Many individuals wish they had thought about their student loan debt earlier. [ more ]
www.nytimes.com
8 months ago
Retirement

The Risks Hidden in Public Pension Funds

Public pension funds are increasingly allocating more of their assets to private equity investments to diversify their portfolios and increase returns.
Private equity firms are increasingly relying on public pension funds for capital, as they offer more stable and long-term investment opportunities than other sources.
Investment professionals are advocating for greater transparency and disclosure of information when it comes to private equity investments, as they often involve complicated structures and fees that can be difficult to decipher. [ more ]
Nytimes
9 months ago
Retirement

Retiree Medical Costs Are Expected to Moderate, but Still High

An estimate puts the average cost over a 20-year retirement at about $157,000.That's almost double the estimate in 2002.Give this article Share full article





Credit... Till Lauer



Retirees just got some encouraging news: Coming changes to Medicare rules for prescription drugs may help rein in their health costs.
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www.nytimes.com
11 months ago
Retirement

It's More Expensive to Live,' and Workers Are Cracing 401(k)s for Help

More Americans are raiding their retirement accounts as the cost of living climbs, and experts predict that the number of workers drawing on their 401(k)s to pay for financial emergencies may increase due to a confluence of factors, like new provisions that make withdrawals easier and high inflation that is straining household budgets.
www.nytimes.com
1 year ago
Retirement

How to Keep Revenge Spending From Ruining Your Retirement

In the first couple of months this year, thousands of American workers at companies like Google and Twitter have lost their jobs.Interest rates on car loans, credit cards and mortgages are higher than ever, and inflation keeps rising.And the talk of a recession in 2023 hasn't gone away.All of this uncertainty can lead to what personal finance experts call a scarcity mind-set, said Megan McCoy, a professor of financial therapy at Kansas State University.
www.nytimes.com
1 year ago
Retirement

For Freelancers, New Federal Help in Saving for Retirement

Gig economy workers lag behind those with traditional jobs in saving for retirement, but parts of a new federal law can help them catch up.Nontraditional workers like contractors, freelancers and those working for internet-based platforms, like ride-hailing or delivery companies often struggle to save for retirement because they lack access to workplace plans available to full-time employees, according to research from the Pew Charitable Trusts.
www.nytimes.com
1 year ago
Retirement

May I Speak to a Human, Please?

Breana Jones started investing in 2014, building up her retirement savings and putting aside money to buy a house.I have youth on my side, said Ms.Jones, a 32-year-old Los Angeles resident and project manager.I've tried to remain hands-off and use my age to my advantage.Ms. Jones said she liked the convenience and ease of digital investment platforms for trading, following markets and monitoring her money.
www.nytimes.com
1 year ago
Retirement

Hardship 401(k) Withdrawals, Explained

Hardship withdrawals from workplace retirement accounts are edging upward  another sign, along with rising credit card debt, that Americans have been feeling financial pain from inflation.Their budgets are stretched thin, said Luis Fleites, the director of thought leadership at Empower Retirement, one of the largest retirement plan administrators.
www.nytimes.com
1 year ago
Retirement

Working While Getting Social Security: What to Know

After a long career in marketing for an engineering firm, Jim Keller retired at 63.
It wasn't an abrupt halt he had the opportunity to phase out of full-time work, and took some consulting gigs.
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www.nytimes.com
1 year ago
Retirement

What You Need to Know for the 2023 Tax Season

The 2023 tax filing season is probably most notable for what's missing: After three years of stimulus payments and pandemic tax breaks, nearly all of those extra benefits have faded away and tax refunds are likely to shrink as a result.The child tax credit, which was more generous in 2021 and had lifted millions of children out of poverty, along with the earned-income tax credit, have largely returned to their prepandemic size.
www.nytimes.com
1 year ago
Retirement

When It Comes to Money, Your Brain Can Be Your Own Worst Enemy

Sara Fernandes was 26 when she got her first credit card.It felt like free money, Ms. Fernandes said.Like suddenly I could buy stuff and not worry about paying for it.That's where my mind was at.She and her husband used the cards to pay for restaurant meals, nice clothes and European vacations.When a statement arrived, they would pay the minimum and keep spending.
www.nytimes.com
1 year ago
Retirement

Opinion | The Perfect Retirement Investment Nobody Wants, Part 2

Readers were intrigued by my newsletter last Friday, The Perfect Retirement Investment Nobody Wants.It was about a concept, never realized, for a hybrid product combining long-term care insurance with an immediate annuity a stream of monthly payments that begins right away and lasts as long as you live.
www.nytimes.com
1 year ago
Retirement

What's Passive Income? It's Not What Influencers Say It Is.

Luca Alboretti was enticed by the thought of making money in his sleep.He was looking to supplement his income as a real estate agent in 2018 when he created an online store selling golf products, an idea he had hatched after watching a YouTube video about how to earn $150,000 a year in passive income selling salt and pepper shakers online.
www.nytimes.com
1 year ago
Retirement

Your Investment Lost Money Last Year. So Why the Big Tax Bill?

Tax planning is usually the least of my financial concerns.Most of the time, just making a living, paying the bills and salting away money in suitable investments are much bigger deals.But this is a special time of year.Tax season has begun, and brokerages and fund companies are sending out tax forms that the Internal Revenue Service requires for this year's returns.
Nytimes
1 year ago
Retirement

Gannett Announces Widespread Cost-Cutting

The chief executive of Gannett, the largest newspaper publisher in the country, announced widespread cost-cutting to its newsrooms on Wednesday, citing headwinds from the "deteriorating macroeconomic environment."
www.nytimes.com
1 year ago
Retirement

Their Children Are Their Retirement Plans

A few months ago, I texted my mother to let her know that I had paid her electric bill (as I do every month), and that it was $461 significantly higher than usual.She texted back to explain that Southern California, where she and my father live, was going through a heat wave but she would be mindful, knowing that I was covering the cost.
www.nytimes.com
1 year ago
Retirement

Who wants to live forever?

Image Aging workers of the world unite.Credit...Charly Triballeau/Agence France-Presse Getty Images Today's 5-year-olds have it even better than you think.In the wealthiest nations, more than half of these tykes will live to at least 100, the Stanford Center on Longevity expects.But a society full of centenarians poses a profound challenge for the world's advanced economies and many of its companies: How do you adapt to an older world and pay for the inevitable pension time bomb ticking in the background as this super-ager cohort approaches retirement age?
www.nytimes.com
1 year ago
Retirement

As France Moves to Delay Retirement, Older Workers Are in a Quandary

During her 38-year career as a sales and marketing manager, Christine Jagueneau rarely thought about retirement.But when her job at a French industrial company was eliminated just before her 59th birthday last February, the idea of tapping her pension took on unexpected urgency.Despite nearly a dozen job interviews, she said, employers have suggested that she's too old to be hired.
www.nytimes.com
1 year ago
Retirement

BlackRock's Pitch for Socially Conscious Investing Antagonizes All Sides

It was a clarion call to chief executives everywhere.In 2018, Laurence D. Fink, the longtime chief executive of BlackRock, the world's largest asset manager, urged corporate leaders to assess the societal impact of their businesses, embrace diversity and consider how climate change could affect long-term growth.
www.nytimes.com
1 year ago
Retirement

An Uptick in Elder Poverty: A Blip, or a Sign of Things to Come?

At the advent of Medicare and Medicaid in the 1960s, more than a third of older Americans lived in poverty.
By 2020, the figure had fallen to 9.5 percent.
www.nytimes.com
1 year ago
Retirement

Japan's Business Owners Can't Find Successors. This Man Is Giving His Away.

Hidekazu Yokoyama has spent three decades building a thriving logistics business on Japan's snowy northern island of Hokkaido, an area that provides much of the country's milk.Last year, he decided to give it all away.It was a radical solution for a problem that has become increasingly common in Japan, the world's grayest society.
www.nytimes.com
1 year ago
Retirement

New Retirement Law Would Bring Twists to Roth I.R.A.s and 401(k)s

The $1.7 trillion federal spending bill that President Biden is expected to sign once it passes the House includes dozens of changes to retirement plans.It makes it easier for employers to help workers open emergency savings accounts, assist employees who are repaying student loan debt and give more part-time workers access to retirement plans.
www.nytimes.com
1 year ago
Retirement

401(k) Contribution Limits Are Taking a Big Jump for 2023

Americans saving for retirement through a 401(k) account will be able to increase their maximum contributions of pretax wages into it by almost 10 percent in 2023, thanks to a new limit announced Friday by the Internal Revenue Service.
www.nytimes.com
1 year ago
Retirement

Your Paycheck Next Year Will Be Affected by Inflation. Here's How.

You already know that inflation is taking a bigger and bigger bite out of your wallet.
Now, it's going to affect the size of your paycheck in 2023.
Nytimes
1 year ago
Retirement

Why Social Security's Inflation Protection Is Priceless

Automatically adjusted lifetime income is rare and worth protecting, our columnist says.
Send any friend a story As a subscriber, you have 10 gift articles to give each month.
Nytimes
1 year ago
Retirement

I'm Young. Why Should I Care About Social Security?

One reason: You pay for it.And, despite what many Americans believe, it's "definitely a misconception" that it will run out before you retire, experts say.
Nytimes
1 year ago
Retirement

'El precio de la vida es muy alto': el COLA busca mejorar el impacto inflacionario en EE. UU.

El ajuste por costo de vida aumentará en 8,7 por ciento el próximo año, brindando alivio a los jubilados y otras personas que dependen en gran medida de esos pagos.
Nytimes
1 year ago
Retirement

How are Social Security benefits funded?

Social Security is funded mainly through FICA taxes on wages - currently 12.4 percent split evenly between employers and workers.
In 2022, the tax was collected on the first $147,000 of wages.
Nytimes
1 year ago
Retirement

Turmoil Returns to the U.K. Bond Market

The Bank of England started a bond-buying program last month to stabilize financial markets.But its plan to end the program this Friday is only making investors more nervous.
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