In the wake of Detroit’s bankruptcy filing, some public and private sector workers and retirees in other cities are reviewing the security of their pensions
many Americans over 55 are not prepared for retirement - nearly 29 percent have neither retirement savings nor a traditional pension plan. For those over 55 who are saving, the median account value is $103,000.
International Women's Week s a good time to take another look at the financial gender gap; Women pay more in interest rates, earn less and pay more for many products than men do.
While most financial tips apply to everyone, there are some that are more relevant to women. 90% of women will have to manage their finances on their own at some point in their life and unfortunately too many women lack confidence and hesitate to take control of their finances.
Hats off to the successful women business owners in the US and around the world. Women entrepreneurs are creating successful companies faster than men and young women - millenipreneurs - are doing best of all. Where women business owners fall behind is planning for retirement.
The gap between men and women is still evident - partly due to the fact that a large proportion of women work shorter hours or stop working altogether once they become mothers.
Here are some lessons women can learn that will help them become even more independent and financially stable.
How can I tell if someone is being financially abused? Because financial abuse does not involve any physical abuse, you have to look for changes in the older person’s lifestyle and finances
The college application process is not one the fun things about the fall – in fact it can be downright stressful for parents and children. It's easy for your child to feel overwhelmed while trying to manage numerous applications, each with varying deadlines and requirements. You and your child have spent many hours poring over college brochures and websites to decide which schools are the best choice for your needs and interests. The applications are the final step in that process.
Divorce can affect a person's Social Security retirement benefits if they were counting on their spouse's benefits. Even if divorced, a person may still collect benefits from their ex-spouse if the marriage lasted 10+ years, they are at least 62 years old, their ex-spouse receives Social Security benefits, and their own benefit is less. The spousal benefit is 50% of the ex-spouse's benefit at full retirement age, but the amount can be affected by when benefits are claimed, earnings, and pension benefits from non-covered work. Remarriage does not impact benefits from an ex-spouse unless the new marriage lasts until the death of the ex-spouse.
many Americans over 55 are not prepared for retirement - nearly 29 percent have neither retirement savings nor a traditional pension plan. For those over 55 who are saving, the median account value is $103,000.
International Women's Week s a good time to take another look at the financial gender gap; Women pay more in interest rates, earn less and pay more for many products than men do.
While most financial tips apply to everyone, there are some that are more relevant to women. 90% of women will have to manage their finances on their own at some point in their life and unfortunately too many women lack confidence and hesitate to take control of their finances.
Hats off to the successful women business owners in the US and around the world. Women entrepreneurs are creating successful companies faster than men and young women - millenipreneurs - are doing best of all. Where women business owners fall behind is planning for retirement.
The gap between men and women is still evident - partly due to the fact that a large proportion of women work shorter hours or stop working altogether once they become mothers.
Here are some lessons women can learn that will help them become even more independent and financially stable.
How can I tell if someone is being financially abused? Because financial abuse does not involve any physical abuse, you have to look for changes in the older person’s lifestyle and finances
The college application process is not one the fun things about the fall – in fact it can be downright stressful for parents and children. It's easy for your child to feel overwhelmed while trying to manage numerous applications, each with varying deadlines and requirements. You and your child have spent many hours poring over college brochures and websites to decide which schools are the best choice for your needs and interests. The applications are the final step in that process.
Divorce can affect a person's Social Security retirement benefits if they were counting on their spouse's benefits. Even if divorced, a person may still collect benefits from their ex-spouse if the marriage lasted 10+ years, they are at least 62 years old, their ex-spouse receives Social Security benefits, and their own benefit is less. The spousal benefit is 50% of the ex-spouse's benefit at full retirement age, but the amount can be affected by when benefits are claimed, earnings, and pension benefits from non-covered work. Remarriage does not impact benefits from an ex-spouse unless the new marriage lasts until the death of the ex-spouse.
Executive bonus plans can boost employee retention by incentivizing key employees to stay. Offering a Section 162 executive bonus plan allows businesses to reward top performers without providing the same benefits to all employees. The business can pay life insurance premiums for executives and deduct the cost, while the income is taxable to the employee. To offset the tax burden, the bonus can be increased or the business can loan money for taxes. This system of "golden handcuffs" encourages executives to remain for long periods like retirement. The plans provide benefits like cash value that executives can use for retirement income or exchange for annuities.
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There's also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. That's why having health insurance can be extremely important for older Americans..
It's been nearly six years since the official end of the Great Recession. Now, finally, Americans have reasons to feel upbeat about their financial prospects. Key economic indicators are signalling progress for the US economy
There are many sources of financing available to a business owner. David Lerner Associates offers this list of loan sources - it should provide some ideas.
What exactly is the charitable deduction? The charitable deduction allows you to take off the value of property you offer to charity from your property and might minimize any federal gift and estate tax that might be owed. Charitable gifting allows you to satisfy your personal philanthropic desires and satisfy your estate planning objectives.
Does it cost more money to be a woman in the U.S. today than it does to be a man? A study conducted by the FINRA Education Institute suggests that in a couple of areas, at least, the answer may be yes.
aking care of your aging parents is something you hope you'll never need to do. It means helping them prepare for the future, which could be frustrating, physically, emotionally and financially. Should the need arise, there are two things you can be certain of: Your parents need you, and you need help.
Women have never been in a better position to achieve financial security for themselves and their families. Women need to take advantage of this position and educate themselves about finances, seek professional help when needed, and implement plans to ensure that they and their families will have financially secure lives.
Term life insurance provides a death benefit for a specific period at a set premium, while permanent life insurance has a portion of premiums go into a cash value that accumulates. Annuities allow investment now with payouts in the future, either as a lump sum or periodic payments, and can provide guaranteed lifetime income in retirement. The document discusses different types of life insurance and annuities to help the reader understand their options for protecting loved ones or saving for retirement.
Life insurance should be viewed through a different lens than other insurance — more specifically, as an asset, instead of an expense. Life insurance can be used to power and protect your family in many ways.
The average outstanding student loan debt is $27,000, but about 10 percent of families that have debt owe more than $61,000—and four percent owe more than $100,000, Pew reports. The total college debt load in the U.S. is now about $1 trillion.
401(k)s have become one of the most popular retirement savings vehicles in America. But many people, including those who have been participating in a 401(k) plan for many years, aren’t clear about all the details when it comes to how their 401(k) plan works.
David Lerner Associates has prepared this brief primer that answers six of the most common questions many people have about their 401(k) plans.
If you plan on working during your retirement, you're not alone. According to the Employee Benefit Research Institute's 2013 Retirement Confidence Survey, 69 % of workers plan to work in retirement.
David Lerner Associates welcomed the merger of Apple REIT Six into BRE Select Hotels Corp in May 2013. BRE Select Hotels is an affiliate of Blackstone Real Estate Partners VII. The document lists 10 hotels that were previously part of Apple REIT Six, providing the name and number of rooms for each hotel, and noting that each was merged into BRE Select Hotels Corp in May 2013.
The Affordable Care Act still remains in force despite changes made to the law. Under the ACA, individuals must have qualifying health insurance by April 1, 2014 or pay a penalty. The 2014 penalty is 1% of taxable income or $95 per adult, up to $285 per family. Exceptions apply for financial hardship, religious objections, or if insurance costs more than 8% of income. Insurers can no longer deny coverage or increase premiums due to pre-existing conditions under the ACA.
Be alert for two recent scams revolving around the payment of utility bills. This alert from David Lerner Associates has the details of what to watch for.
As they graduate from college and begin their careers, many young people often discover that the “real world” is very different from what they thought it would be based on the glamorous images of the make-believe lives of 20-somethings on some TV shows and in some movies - See more at: http://news.davidlerner.com/#sthash.iZt3FDLr.dpuf
David Lerner Associates, a privately-held securities broker-dealer headquartered in Syosset, NY, recently welcomed the announcement by Apple REIT Six, Inc. (“Apple Six”), a real estate investment trust (REIT), of the closing of the merger of Apple Six into BRE Select Hotels Corp (“BRE Select Hotels”), an affiliate of Blackstone Real Estate Partners VII.
This document discusses retirement planning options for stay-at-home mothers. It notes that while they give up earning potential to raise children, stay-at-home mothers should still plan for retirement. It recommends rolling over any 401(k) from a previous job into an IRA. A husband can contribute up to $5,500/$6,500 annually to a spousal IRA. It also discusses the maximum annual contributions to IRAs and 401(k)s and notes that funds in the husband's retirement accounts may not be accessible in case of divorce.
The more information you share with your investment advisor about your personal financial situation, the more equipped your advisor will be to help you meet your financial and investment goals.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Executive bonus plans can boost employee retention by incentivizing key employees to stay. Offering a Section 162 executive bonus plan allows businesses to reward top performers without providing the same benefits to all employees. The business can pay life insurance premiums for executives and deduct the cost, while the income is taxable to the employee. To offset the tax burden, the bonus can be increased or the business can loan money for taxes. This system of "golden handcuffs" encourages executives to remain for long periods like retirement. The plans provide benefits like cash value that executives can use for retirement income or exchange for annuities.
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There's also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. That's why having health insurance can be extremely important for older Americans..
It's been nearly six years since the official end of the Great Recession. Now, finally, Americans have reasons to feel upbeat about their financial prospects. Key economic indicators are signalling progress for the US economy
There are many sources of financing available to a business owner. David Lerner Associates offers this list of loan sources - it should provide some ideas.
What exactly is the charitable deduction? The charitable deduction allows you to take off the value of property you offer to charity from your property and might minimize any federal gift and estate tax that might be owed. Charitable gifting allows you to satisfy your personal philanthropic desires and satisfy your estate planning objectives.
Does it cost more money to be a woman in the U.S. today than it does to be a man? A study conducted by the FINRA Education Institute suggests that in a couple of areas, at least, the answer may be yes.
aking care of your aging parents is something you hope you'll never need to do. It means helping them prepare for the future, which could be frustrating, physically, emotionally and financially. Should the need arise, there are two things you can be certain of: Your parents need you, and you need help.
Women have never been in a better position to achieve financial security for themselves and their families. Women need to take advantage of this position and educate themselves about finances, seek professional help when needed, and implement plans to ensure that they and their families will have financially secure lives.
Term life insurance provides a death benefit for a specific period at a set premium, while permanent life insurance has a portion of premiums go into a cash value that accumulates. Annuities allow investment now with payouts in the future, either as a lump sum or periodic payments, and can provide guaranteed lifetime income in retirement. The document discusses different types of life insurance and annuities to help the reader understand their options for protecting loved ones or saving for retirement.
Life insurance should be viewed through a different lens than other insurance — more specifically, as an asset, instead of an expense. Life insurance can be used to power and protect your family in many ways.
The average outstanding student loan debt is $27,000, but about 10 percent of families that have debt owe more than $61,000—and four percent owe more than $100,000, Pew reports. The total college debt load in the U.S. is now about $1 trillion.
401(k)s have become one of the most popular retirement savings vehicles in America. But many people, including those who have been participating in a 401(k) plan for many years, aren’t clear about all the details when it comes to how their 401(k) plan works.
David Lerner Associates has prepared this brief primer that answers six of the most common questions many people have about their 401(k) plans.
If you plan on working during your retirement, you're not alone. According to the Employee Benefit Research Institute's 2013 Retirement Confidence Survey, 69 % of workers plan to work in retirement.
David Lerner Associates welcomed the merger of Apple REIT Six into BRE Select Hotels Corp in May 2013. BRE Select Hotels is an affiliate of Blackstone Real Estate Partners VII. The document lists 10 hotels that were previously part of Apple REIT Six, providing the name and number of rooms for each hotel, and noting that each was merged into BRE Select Hotels Corp in May 2013.
The Affordable Care Act still remains in force despite changes made to the law. Under the ACA, individuals must have qualifying health insurance by April 1, 2014 or pay a penalty. The 2014 penalty is 1% of taxable income or $95 per adult, up to $285 per family. Exceptions apply for financial hardship, religious objections, or if insurance costs more than 8% of income. Insurers can no longer deny coverage or increase premiums due to pre-existing conditions under the ACA.
Be alert for two recent scams revolving around the payment of utility bills. This alert from David Lerner Associates has the details of what to watch for.
As they graduate from college and begin their careers, many young people often discover that the “real world” is very different from what they thought it would be based on the glamorous images of the make-believe lives of 20-somethings on some TV shows and in some movies - See more at: http://news.davidlerner.com/#sthash.iZt3FDLr.dpuf
David Lerner Associates, a privately-held securities broker-dealer headquartered in Syosset, NY, recently welcomed the announcement by Apple REIT Six, Inc. (“Apple Six”), a real estate investment trust (REIT), of the closing of the merger of Apple Six into BRE Select Hotels Corp (“BRE Select Hotels”), an affiliate of Blackstone Real Estate Partners VII.
This document discusses retirement planning options for stay-at-home mothers. It notes that while they give up earning potential to raise children, stay-at-home mothers should still plan for retirement. It recommends rolling over any 401(k) from a previous job into an IRA. A husband can contribute up to $5,500/$6,500 annually to a spousal IRA. It also discusses the maximum annual contributions to IRAs and 401(k)s and notes that funds in the husband's retirement accounts may not be accessible in case of divorce.
The more information you share with your investment advisor about your personal financial situation, the more equipped your advisor will be to help you meet your financial and investment goals.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Navigating Your Financial Future: Comprehensive Planning with Mike Baumannmikebaumannfinancial
Learn how financial planner Mike Baumann helps individuals and families articulate their financial aspirations and develop tailored plans. This presentation delves into budgeting, investment strategies, retirement planning, tax optimization, and the importance of ongoing plan adjustments.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
2. The “What-If?” Review
Some financial and retirement experts are recommending that workers
and retirees who are dependent on pension plans do some “what-if”
scenario planning to review how well prepared they might be for a
possible cut in their pension benefits.
3. The Current Climate
The practical result of cities like Detroit filing for bankruptcy is that
city workers and retirees could see their pensions reduced, perhaps
drastically.
4. Pension Cuts
One city in Rhode Island that declared bankruptcy in 2011 cut one out of every
three of its retirees’ pension payments by more than half.
5. It’s Not Only Cities
The Teamsters’ Central States, Southeast & Southwest Pension Plan, the nation’s largest multi-employer pension
fund, has liabilities ($34.9 billion) that are almost double its
assets of $17.8 billion.
6. Do Some Digging
Another review step recommended by some experts is to find out to what
degree your pension plan is funded. Some cities’ and states’ pension plans
remain well funded, while others are not. Employees who participate in
private and union pension plans are permitted by law to access their plan’s
funding notice to find out to what degree their plan is funded.
7. The States’ Pension Gap
The gap between how much money states have promised to pay their employees
in pension benefits and how much they have actually set aside to pay these
benefits totaled more than $1.3 trillion in fiscal 2010, according to the Pew
Center for the States’ analysis of pension and retiree health-care funding.
8. Local Government
It’s important to note that the pension benefits of most state and
local government retired employees are relatively safe.
The combined assets of all state and local government pension funds
exceeded $3.5 trillion at the end of the first quarter of 2013 — this
was more than 15 times the amount of money paid out by these
funds annually in benefits.
9. Material contained in this article is provided for information
purposes only. It is not intended to be used in connection with
the evaluation of any investments offered by David Lerner
Associates, Inc.
This material does not constitute an offer or recommendation
to buy or sell securities and should not be considered in
connection with the purchase or sale of securities. Member
FINRA & SIPC. http://news.davidlerner.com