A classic mistake made when considering annuities is to focus too much on current interest rates and the direction they seem likely to move. Annuities are income vehicles, so it’s natural to consider interest rates and the outlook for future rates. But too often the relationship between some annuities and interest rates is misunderstood, and
Retirement
The Secure 2.0 Act is a landmark legislation that promises to revolutionize how US workers save for retirement. With the legislation officially signed into law by President Joe Biden last week, proponents are optimistic that millions of Americans can look forward to a retirement future with more security, options and control. So what all is
Wealth inequality by race remains staggeringly high, but it has gradually declined throughout the pandemic. This is different from the experience of the Great Recession, when after 2007 the disparity between Black and Latino households, on the one hand, and White households, on the other hand, widened. But, this difference is also no cause for
In response to public concerns, the McLean Citizens Association will host a virtual Public Informational Meeting to discuss two of the three Fairfax County Virginia pension funds’ cryptocurrency-related investments tomorrow. Fairfax County’s Retirement Systems Executive Director Jeff Weiler, who has publicly stated that cryptocurrency is “no different from any other investment” and the Chief Investment
No matter where you get your news, it’s hard to make it through a day without reading an article about the devastating shortage of hourly and front-line workers. They are missing in action from workplaces as varied as food service, airlines, home health, gyms, office staff, and senior care. Continually trying to find them, hire
Key takeaways Digital assets exchange Crypto.com has laid off 20% of its global workforce. The announcement is the latest in a long line of crypto companies downsizing operations, many citing FTX’s downfall as a key reason. It’s not all bad, as crypto regulation could be introduced and funding remains strong in the sector. We all
Inflation has been hitting everyone hard and going into 2023, there are several things you can be doing in order to protect the state of your finances. Ask for more at the bank. Because interest rates have risen sharply over the past year, suddenly it is possible to get a return on savings accounts, money
Before mutual funds became the de facto standard investment option in 401(k) plans, before 401(k) plans became the de facto standard retirement savings option, most people invested in individual securities. Sure, mutual funds existed back then, but they often carried large commission charges, even larger front-end loads, and, to discourage you from leaving, mutual fund
You’ve learned why it’s important to avoid investment products once you enter your retirement. If you’re lucky, you can, and maybe you should, begin transitioning your investments to individual securities well before you earn that gold watch. “Typically, the further one gets away from owning individual investments, the higher the costs become,” says Stephen Taddie,
Targeted saving is a saving plan directed toward a future benefit that is otherwise beyond the means of the saver. An example is the consumer who places $X every month in an earmarked account that is targeted on the purchase of a mink coat or a motorcycle at a future date. It can also be