CHICAGO (Reuters) – The Affordable Care Act is doing plenty of good for older Americans, but one thing it is not doing is convincing them to retire early.
One prediction of the impact of the healthcare law, commonly known as Obamacare, was that the ACA would end “job lock” – the phenomenon of workers hanging onto jobs just for the health insurance while waiting to become eligible for Medicare at age 65.
CHICAGO (Reuters) – Would you like some advice with that 401(k) plan?
Two of the leading companies in online investment advice launched initiatives this month aimed at getting more personalized financial advice to workplace retirement savers.
Betterment, a leader in the “robo-advisory” automated portfolio market for retail investors, announced plans this month for a new technology-driven offering for 401(k) plans.
CHICAGO, Sept 17 (Reuters) – Lazetta Rainey Braxton is a
rare bird in the financial planning profession. She is
African-American, a group that accounts for no more than 2
percent of all planners.
Braxton, 42, is working to change that. She is president of
the Association of African American Financial Advisors, known as
the Quad-A, a southeastern regional professional group that
seeks to expand representation of African-Americans in planning.
CHICAGO, Sept 10 (Reuters) – Should 30 percent of Medicare
beneficiaries shoulder a 52 percent premium hike next year while
the other 70 percent pay no more at all? Advocates for seniors
do not think so, and they are making a push to convince Congress
to stop it from happening.
The Medicare population vulnerable to shouldering the larger
premium includes some federal and state government employees,
people who sign up for Medicare for the first time next year,
low-income seniors whose premiums are paid by state Medicaid
plans and high-income seniors who already pay premium
CHICAGO, Sept 3 (Reuters) – Planning to work longer to
bolster your retirement finances?
It can make a big difference, but it is tough to pull off.
Half of all retirees leave the workforce earlier than planned
due to a health problem or job loss.
By Mark Miller
CHICAGO(Reuters) – As the stock market has whipsawed over the past two weeks, young workers who have all their retirement funds tied up in long-range target-date funds may have been the hardest hit.
The average 25-year-old fully invested in a 2060 target-date fund series saw a 10 percent decline in account value from the market’s recent peak on July 17 through Monday’s close, according to Morningstar – close to the 10.96 percent decline of the S&P 500 over that period.
CHICAGO, Aug 20 (Reuters) – Five dollars may not sound like
much pay for doing a job, but do not tell that to Brooke Folk.
At age 67, Folk spends up to 30 hours a week on projects
generated through Fiverr.com (fiverr.com), a
shared-economy website that requires all its vendors to offer
something to customers for just $5 and takes a 20 percent
commission on earnings.
CHICAGO, Aug 13 (Reuters) – If you work for a small business
that doesn’t have a retirement plan, help is on the way.
Roughly half of the U.S. states are working to create
government-sponsored automatic individual retirement account
(IRA) plans that would enroll workers without access to
employer-sponsored retirement plans.
CHICAGO, August 6 (Reuters) – Retirees are facing a double whammy next year: no inflation adjustment in their Social Security benefits and a whopping 52 percent jump in certain Medicare premiums.
The Medicare premium hikes will hit only 30 percent of beneficiaries: those who are not protected from a “hold-harmless” provision in federal law that prohibits any premium hike that produces a net reduction in Social Security benefits. But the increases suggest strongly that the recent trend of moderate healthcare inflation is ending.
CHICAGO, July 30 (Reuters) – Medicare turns 50 on Thursday,
riding high in the polls but under attack from presidential
candidates proposing benefit cuts or even phasing out the U.S.
healthcare program for older people.
When President Lyndon Johnson signed the law, half of
Americans age 65 or older had no health insurance. Today, just 2
percent go uncovered.