Latest Retirement planning News

Social Security checks getting big boost as inflation rises

Oct. 13, 2021 15:47 PM EDT

WASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The COLA, as...

88% of Affluent Households Donated in 2020, New Study Says

Sep. 29, 2021 14:03 PM EDT

In a year beset with a global pandemic and other crises, the vast majority of wealthy households — 88% — gave to charity in 2020, according to a study from Bank of America and the Indiana University Lilly Family School of Philanthropy. “There was a high level of...

Liz Weston: Is a new job the right financial move?

Sep. 27, 2021 07:03 AM EDT

Whether you call it “The Great Resignation,” “The Great Reshuffle” or just high time for a change, millions of American workers are looking for new jobs — and some have already quit the ones they have. Better pay isn’t necessarily the motivator, labor experts say. Many people are...

Democrats see tax 'framework' to pay for huge $3.5T package

Sep. 23, 2021 18:08 PM EDT

WASHINGTON (AP) — The White House and congressional Democrats have agreed to a framework of options to pay for their huge, emerging social and environment bill, top Democrats said Thursday. Now they face the daunting task of narrowing the menu to tax possibilities they can pass to fund...

White House taps populist message as Biden pushes $3.5T plan

Sep. 07, 2021 18:33 PM EDT

WASHINGTON (AP) — The White House is preparing an urgent and populist message for selling President Joe Biden's $3.5 trillion “build back better” agenda, even as House committee leaders begin churning out pieces of the forthcoming measure. In a memo being sent...

Kimberly Palmer: Check finances now to avoid falling behind

Sep. 06, 2021 07:02 AM EDT

Fall is the perfect time to review your finances because there’s still time to make adjustments before the end of the year. The continuing pandemic and economic uncertainty are making it more complicated, but financial experts recommend taking a close look at your savings and planning for...

Wall Street's gains, more savings lift 401(k) balances

Aug. 20, 2021 17:03 PM EDT

LOS ANGELES (AP) — Solid stock market gains through much of the pandemic and workers putting more of their pay toward their golden years are paying off for many retirement savers. The average 401(k) plan balance grew 24% to a record $129,300 in the second quarter from a...

Liz Weston: 4 cash-raising pitfalls (and better options)

Aug. 02, 2021 07:10 AM EDT

If you’ve got more bills than money, the usual advice is to trim expenses and find additional income. But some ways of raising cash can be a lot more expensive than others. Here are four that should be avoided, if possible, and what to consider instead. BEWARE RAIDING A...

$15 wage becoming a norm as employers struggle to fill jobs

Jul. 27, 2021 13:52 PM EDT

WASHINGTON (AP) — The signs and banners are dotted along suburban commercial strips and hanging in shop windows and restaurants, evidence of a new desperation among America's service-industry employers: “Now Hiring, $15 an hour.” It is hardly the official federal...