The federal government is expected to run a deficit of $3.0 trillion this year, adding to a national debt that already totals more than $28 trillion. Politicians will be looking for ways to increase revenue (i.e., raise taxes) and reduce spending. Two of the most expensive federal spending programs are Social Security and Medicare.
Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index accelerated 0.7% for the month, above the 0.6% Dow Jones estimate.
Social Security will have to cut benefits by 2034 if Congress does nothing to address the program’s long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.
U.S. Treasuries have been the bonds of choice for safe retirement income. But they could deliver no real return for the next decade. Today’s record low bond yields could not come at a worse time for many baby boomers. Owning U.S.
Skip to Content Funders of a deep-pocketed new “rejuvenation” startup are said to include Jeff Bezos and Yuri Milner. Last October, a large group of scientists made their way to Yuri Milner’s super-mansion in the Los Altos Hills above Palo Alto.
OK, so it’s not exactly “fun.” But a new report says retirees who convert their savings into guaranteed lifetime annuities effectively double the amount they are willing to spend each year, on themselves and their families.
IMPORTANT: The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act of 2020 contains provisions providing a temporary waiver of RMDs for IRAs, 401(k)s and other employee-sponsored retirements plans for 2020.