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Today, U.S. Representative Peter DeFazio (OR-04) introduced the Wall Street Tax Act, legislation to create a new tax on financial transactions that would generate billions in revenue, while reducing speculative trading and volatility in the market. “High-frequency traders front-run the market and drive up prices for individuals, pension funds and other value investors,” said Rep. Peter DeFazio. “Some days high-frequency traders trade billions of shares that they sometimes hold for only seconds or less. They reap enormous financial benefits for themselves and their privileged elite investors but add no value to our economy. Congress needs to rein in excessive speculative...

I was just thinking that with thousands dying from Covid, that the pressure on Social Security should be lessening. Has anyone seen an analysis?

I have operated a small business for many decades. I'm tired -- and tired of all the paperwork, insurance, and taxes. I wouldn't mind cutting back to part time, but it doesn't seem like a financially viable option as my insurance costs and paperwork would likely not decrease. So, now the quandary -- what do I do with my time if I retire? I want do remain active and keep the mind busy. I don't want to sit and watch TV or spend all day on the internet. What do all you retirees do with your time?

Over the next several weeks, the Department of Labor will begin to sift through the public comments on their recently proposed rule “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights,” seeking the best course of action to ensure that pension beneficiaries across this country receive the benefits they deserve. This rule reaffirms the fiduciary obligations that ERISA-backed pension fund managers owe to their beneficiaries, and puts forward much needed reforms in a proxy advisory industry that for too long has neglected to serve the best interest of pensioners.  In this tumultuous election season, where even non-controversial issues have become political,...

Decrying "the inequality of the current IRA and 401k retirement plans," Democratic presidential nominee Joe Biden promises "big changes. Right now, the only people who benefit from the IRA and 401k programs are those who earn an income. This is unfair to those who are out of work and have no aptitude for supporting themselves. This inequity will change once I'm elected." "Under my plan these formerly individual retirement accounts will all be merged into Social Security," Biden said. "There's no good reason why a person who has worked, saved, and invested for retirement should have a better retirement than...

Round about a month ago, I took a closer look at Joe Biden’s retirement-related policy proposals, or, more specifically, those of the “Unity Task Force,” which had just released its final document. One of the items in that document and on the Biden campaign website is a promise to “equalize the network of retirement saving tax breaks” — a proposal that generally translates to eliminating the tax advantages currently enjoyed by retirement savings accounts and replacing them with a “credit” or “match.” The idea is that the tax advantages, or “tax expenditures,” as they’re called, disproportionately accrue to relatively higher...

After nearly 50 years of serving as senior pastor at First Baptist Church Atlanta, Charles Stanley announced during a pre-recorded streaming service on Sunday that he is stepping down. The megachurch said Stanley will be replaced by Dr. Anthony George. “Earlier this month, I informed the board that I felt the time had come for me to step down as senior pastor,” Stanley said. “I have many wonderful memories. But as much as I love being your pastor, I know in my heart this season has come to an end.” Stanley, a former president of the Southern Baptist Convention and...

A significant number of teachers have put in for retirement over the last few months as educators say they’re frustrated with remote learning as well as worried about the coronavirus. Those who are concerned about becoming sick oppose reopening the schools but those who are frustrated with online learning want to get back to in-person teaching.Newsweek: The two seemingly paradoxical concerns have caused many teachers to seek different career paths, different roles or to focus on raising their own children.In New York State, teacher retirements are up 20 percent from 2019, according to data from the New York State Teacher...

Round about a month ago, I took a closer look at Joe Biden’s retirement-related policy proposals, or, more specifically, those of the “Unity Task Force,” which had just released its final document. One of the items in that document and on the Biden campaign website is a promise to “equalize the network of retirement saving tax breaks” — a proposal that generally translates to eliminating the tax advantages currently enjoyed by retirement savings accounts and replacing them with a “credit” or “match.” The idea is that the tax advantages, or “tax expenditures,” as they’re called, disproportionately accrue to relatively higher...

As of June, the average retired worker was bringing home $1,514 a month from Social Security. This works out to all ost $18,200 a year. All things considered, this isn't very much -- but for 62% of retired workers receiving a Social Security benefit, their monthly payout will account for at least half of their income. The critical role Social Security plays during retirement for so many elderly Americans demonstrates just how important your claiming decision can be. Claiming age plays a big role in determining your Social Security payout Although there are more than a half-dozen factors that can...

More and more Americans are being given the option to retire early due to the economic setbacks of the coronavirus pandemic, FOX Business’ Gerri Willis told “FOX News Rundown.” “This is fascinating. These numbers are sky-high,” she said on the daily podcast. “We didn't really understand the number of people that were being offered early retirement. And it's still not entirely clear. But what is clear is that there is a greater proportion of people going into retirement than we thought.” Willis said younger Americans in their 40s and 50s are being offered early retirement since so many industries like...

FIRE (Financial Independence, Retire Early), a flourishing lifestyle movement, has crept its way into mainstream culture throughout the past decade. As we've seen the pandemic spark a renewed push for people to create more autonomy in their lives, there is continued debate about the most sensible way to invest if FIRE is your goal. Real estate proponents advocate for potentially robust monthly cash flow, price appreciation, and tax advantages, whereas index fund adherents cite minimal expenses, a lack of constant oversight, and efficient trading as reasons to invest. In reality, there are benefits to both strategies, which might lead you...

Title only due to FR guidelines. However the full article available at the link with no paywall.

Editor's Note: Jon Decker is the co-author of this piece. Last week, the AARP sent a letter to the Department of Labor requesting a delay of a Department of Labor proposal to align its rules for investment advisers with the SEC's "best interest" standard, to give investors more choices while protecting their retirement savings.It's no surprise that the AARP would seek to thwart one of President Trump's policy objectives. Instead of being a neutral advocate for seniors, the AARP routinely engages in far-left political advocacy.  Recall that when seniors were contacting the AARP 14-to-1 urging the group to oppose Obamacare,...

Sometimes, the stuff that people say about early retirement (and early retirees) is terrible. It is assumed that early retirement is the end of productive life and that unless we’re swimming in millions in cold hard cash, early retirement will eat us alive. Today, it is my distinct honor and pleasure to debunk five of the most common of these myths, which also happen to be the ones that I hear most often. As I said in my one-year early retirement performance review, early retirement is all that it’s cracked up to be. It’s a remarkable feeling of control, each...

A lawyer who represents police officers has been contacted by more than 150 current officers who seek to file for disability benefits, a move taken before they leave the force. Most of the officers claim they are suffering from PTSD and that the stressful situation since the killing of George Floyd has become the last straw. “While law enforcement is a high-stress career, the last two months in Minneapolis have pushed many officers to their breaking point,” Meuser said…Among Meuser’s clients are officers who were inside the city’s 3rd Precinct police station, which was abandoned and subsequently burned during...

The NYPD said Wednesday that 179 cops filed for retirement between June 29 and Monday, an astounding 411-percent increase over the 35 who filed during the same time period in 2019.

Hundreds of NYPD officers have filed for retirement in the weeks after George Floyd’s death through June 23, almost 50 percent more than last year. A total of 272 officers filed for retirement during that time period – a 49 percent increase over the same time period in 2019, the New York Post reports. Last year, 183 officers file for retirement during that time. "We are all asking the same question: ‘How can we keep doing our job in this environment?’" Police Benevolent Association President Patrick Lynch told the New York Post. "And that is exactly what the anti-cop crowd...

By and large, Americans of all ages believe they are building healthy nest eggs that will support them through a long retirement. In fact, 60% of all workers say they are piling up savings adequate to last through their golden years, according to the 20th annual Transamerica Retirement Survey of Workers. But the actual numbers suggest something different. The median-sized nest egg for baby boomers is a relatively paltry $144,000, according to the Transamerica Center for Retirement Studies. The median is defined as approximately the midpoint of the range in a given category.

Leading Trump administration officials on May 11 moved to block further investment by U.S. federal retirement funds into Chinese equities that “present significant national security and humanitarian concerns,” reported FOX Business. National Economic Council Chair Larry Kudlow and National Security Adviser Robert O’Brien addressed a letter to U.S. Labor Secretary Eugene Scalia on Monday detailing the Trump administration’s wishes. The letter obtained by FOX Business outlined the Trump administration’s objections to the Thrift Savings Plan (TSP)—the federal government’s retirement savings fund—investing in Chinese companies. According to the news outlet, the funds total some $4 billion in assets. The letter stated,...