New Survey Shows a Bad Combination of Skepticism and Dependence Are you counting on Social Security for most of your retirement funds – and if so, how comfortable are you that the funds will be there at retirement? According to the recent Transamerica Retirement Survey of Workers, you probably aren’t comfortable at all. A surprising 76 percent of survey respondents are concerned that Social Security won’t be there when they retire – including 65 percent of baby boomers, the generation entering their retirement years.
The recent Tax Cuts and Jobs Act (TCJA) represents one of the biggest changes to the tax code in many years. Will the Internal Revenue Service be up to the challenge of enforcing these changes? For the last five years, the IRS has been examining fewer and fewer returns. In calendar year 2016, 1.1 million tax returns were audited (0.5 percent of all returns), down from approximately 1.7 million returns in calendar year 2012. Now the IRS faces a new regulatory challenge with approximately the same budget as in 2017 – a decrease of almost $1.5 billion (23 percent) from 2010 when inflation is taken into account.
According to some studies, half of the population will be working remotely by 2020. This is in stark contrast to the situation a couple of decades ago, where pretty much every worker in the land was fixed to the infamous 9-5 hours, or they worked unsociable shifts. Of course, a lot of these workers are attached to larger organizations, who are
It’s difficult to purchase a home in today’s market. Pent-up demand and an extreme shortage of homes have led to a rapid increase in prices that outpaces recent wage gains. The problem is acute in the market for starter homes and critical in high-value markets like San Jose, Seattle, and Austin. Desperate homeowners are stretching their finances to buy a home, and lenders and mortgage backers are increasingly willing to accommodate them.
President Trump promised changes in Washington upon his election. Whether you are a Trump fan or foe, there’s no question he’s succeeded in that goal. Sometimes the change is precipitated by the President’s choice to lead an agency, as in the case of the Consumer Financial Protection Bureau (CFPB). The CFPB was born out of the Dodd-Frank legislation in 2010 as a vehicle to both regulate banks after the Great Recession and protect consumers from harmful and predatory financial practices. The CFPB was intentionally structured to be independent of political forces. Its money comes from the Federal Reserve, not Congress.
Some people believe that happiness is a state of mind that can only be felt, while others think money can in fact “buy” happiness if it is spent the right way. While it is difficult to measure happiness, it is a fact that money does make life more comfortable. Money can buy anything you want, like the album of your
A new government report provides both good news and bad news about America’s massive consumer debt load. The bad news: America’s total consumer debt continues to rise. According to May’s G.19 Consumer Credit Report from the Federal Reserve, combined (revolving and nonrevolving) outstanding debt rose by $11.7 billion in March to reach $3.875 trillion – continuing a string of monthly debt increases that goes back to January 2016. The March increase equates to a 3.6 percent annualized debt growth.
There are quite a few reasons that people choose to invest. They could be investing as a hobby, to meet a goal – such as paying for their children’s education, or even just for their ego. All of these are decent reasons. However, most of us invest for a goal that is long term. Retirement. Planning for retirement as an
In recent years shopping online has vastly surpassed the traditional method of high street shopping. Nearly every shop from grocery stores, to media markets to clothes shops has its own online store. With online shopping allowing the consumer to shop at anytime of the day from shops all over the globe- there is no wonder that online shopping is booming!
Are you considering bypassing the hotel or resort experience for your summer vacation and opting for a summer home rental instead? Home rental networks are on the rise and have never been easier to use, thanks to the increased web presence and sites like Vacation Home Rentals, Airbnb, VRBO, and Vacation Rentals. However, just because travel agents and middlemen are being squeezed out does not mean that you are getting the best deal possible. You can negotiate with a vacation rental owner to receive an even better deal by following these steps.