Personal finance

California is a reserve. Its public pensions invest in companies that work with ICE

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California is a reserve. Its public pensions invest in companies that work with ICE

California’s two largest pension funds invested more than $2.7 billion with companies that contract with Immigration and Customs Enforcement or the Department of Homeland Security, a new analysis shows. CalPERS, a nationwide megafund for public employees, has invested about $1.6 billion in technology firm Palantir, weapons manufacturers General Dynamics and L3Harris, and telecommunications companies AT&T … Read more

TSP funds see losses in March | Federal News Network

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TSP funds see losses in March | Federal News Network

It was a tough March for Thrift Savings Plan. 15 of the 16 funds had monthly declines and only the G Fund showed growth last month. The I Fund saw a steep decline, losing more than 9% month-on-month. L funds are also reflecting tough market conditions, losing anywhere from 3% to nearly 7% for March. … Read more

Retired? This is when the IRS can take a closer look at your finances

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IRS logo on business cards

Richard Bernstein Advisors CEO and CIO Richard Bernstein provides insight on investment strategies in times of conflict and rising inflation at the Barrons Roundtable. American retirees may be done with their work, but they may still face an audit IRS audit if their tax return raises red flags. Data from the IRS shows the tax … Read more

Eric Swalwell is attacking retirement, delaying paying taxes while running for governor of California

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Eric Swalwell is attacking retirement, delaying paying taxes while running for governor of California

Eric Swalwell is dipping into his retirement savings and deferring his tax payments as he campaigns to become California’s next governor. The 45-year-old Democratic congressman, who polls 17 percent in a crowded field, has also contributed more than $200,000 in campaign cash to pay for childcare costs. Tax returns from 2021 to 2024 show Swalwell … Read more

Market volatility poses a major risk to young retirees. Here’s how to prepare

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How to keep your money safe amid this economic and political uncertainty

Ciara Horton | A minute | Getty Images If you’re ten years away from retirement, the current stock market volatility can be a good reminder of the risk ahead for your nest egg. Although stocks tend to offer the best opportunity for long-term growth despite their ups and downs, a continuous market decline leading to … Read more

Social Security up to $50,000? ‘Crisis in the near horizon’ forces a painful solution with a new proposal. Do this now

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Social Security up to $50,000? 'Crisis in the near horizon' forces a painful solution with a new proposal. Do this now

Moneywise and Yahoo Finance LLC may receive commission or revenue from the links below. A new analysis by the Federal Accountability Committee found that some high-income retirees are now collecting close to, or more than, $100,000 a year in Social Security benefits (1). And it prompts a review of social security gaps, according to some … Read more

Four ways to secure your finances in this terrible job market

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Four ways to secure your finances in this terrible job market

Open this photo in the gallery: Today’s labor market is sluggish, and uncertainty is high.diego_cervo/iStockPhoto/Getty Images We are not, technically, bankrupt. But for those who are currently unemployed, we can be too. We are in what economists call a “low-fire, low-hire” market. Employers are shedding jobs left and right as they may be in a … Read more

‘Gut feeling.’ When my husband had a stroke, I managed our finances. Now I suspect that we have been cheated by our advisor. Now why?

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'Gut feeling.' When my husband had a stroke, I managed our finances. Now I suspect that we have been cheated by our advisor. Now why?

Question: “My husband who took care of all our finances suffered a stroke. It seems that he will not be able to start his finances from now on. Now I take care of everything and I am burdened by my head. I have the feeling that our financial plan has prepared us to remove a … Read more

Why early retirement with a 401(k) balance is riskier than it seems

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Why early retirement with a 401(k) balance is riskier than it seems

Early retirees face four risks beyond the 10% penalty: the sequence of return risk during a market downturn, the seven-year gap in health care coverage before Medicare qualifies at 65 and ACA premiums rising by 18-20%, exposure to late penalty and SEPP if premiums are changed, and mental age especially to have a large first … Read more

RRSPs and RRIFs are intended to provide retirement income. But the tactics are very different

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RRSPs and RRIFs are intended to provide retirement income. But the tactics are very different

I’ve heard people say that a RRIF is just an extension of an RRSP. It’s not true! These two plans are linked in that they are both designed to save for retirement. But their goals are different, which means that the tactics involved must be the same. The purpose of an RRSP is to build … Read more