Money, Wealth & Power—A Daily Look at the Financial World
Millions of Gen X workers, born between 1965 and 1980, face a shrinking window to prepare for retirement as Social Security trust funds move closer to depletion. The 2025 Trustees Report projects the Old-Age and Survivors Insurance fund will be exhausted by 2033, with combined trust funds lasting only until 2034, one year sooner than…
The legal architecture governing retirement accounts in the United States contains a structural vulnerability that most savers never consider: in a severe market crash, the securities held inside 401(k) plans and IRAs may not be as firmly “yours” as account statements suggest, and in a broker-dealer failure, those assets can be frozen or pooled under…
Homeowners facing an $18,000 repair bill and unwilling to take on new debt confront a difficult choice among three retirement accounts, each with distinct tax consequences. The question of whether to pull from a Roth IRA, a traditional IRA, or a 401(k) depends on withdrawal rules that most people misunderstand, and the wrong move can…
Warren Buffett, the billionaire chairman of Berkshire Hathaway, is often cited in discussions of Social Security reform for backing a blunt move: removing (or significantly raising) the cap on earnings subject to the payroll tax. His reasoning is simple. High earners stop paying the Social Security payroll tax on wages once their earnings pass a…
Retirees such as competitive globetrotters described as “Competitive globetrotters seeking early retirement” are proving that work does not have to stop when Social Security starts, it can simply move overseas. Recent guidance on side gigs in retirement highlights that travel friendly work like Trave related roles, teaching and seasonal hospitality can keep income flowing while…
Retirees holding less than $2,000,000 in traditional IRA and 401(k) savings face a growing chorus of advice to convert those accounts to Roth IRAs. The pitch is simple: pay taxes now, enjoy tax-free withdrawals later, and dodge required minimum distributions. But for most people in this savings range, the immediate tax hit and a chain…
For Americans turning 59 this year, the math on retirement can feel unforgiving. Federal Reserve data can provide a reality check on what households approaching 60 actually have saved in retirement accounts, even if it doesn’t define a single “on track” target for everyone. But a set of higher contribution limits for 2026, combined with…
Social Security’s retirement trust fund is now projected to run dry in 2033, one year sooner than previously estimated, a shift that could force automatic benefit cuts of roughly $460 per month for the average retired worker unless Congress intervenes. The 2025 Annual Report from the Board of Trustees, released in mid-June, accelerated the depletion…
The classic promise of retirement at 65 is colliding with a harsher financial reality, where a nest egg of $70,000 can feel less like freedom and more like a warning light. Instead of exiting the workforce, older Americans are clocking in at big-box stores, logging into remote consulting gigs, and even “unretiring” after brief attempts…
The Social Security Fairness Act has restored benefits for more than 3.2 million former public workers whose checks were previously reduced or eliminated, but the lump-sum retroactive payments now landing in bank accounts are creating an unexpected tax problem. Signed into law in early 2025, the legislation repealed two long‑standing provisions that had penalized retirees…