So much for American exceptionalism when it comes to retirement. The US earned just a C+ for its retirement system in the 16th annual Mercer CFA Institute Global Pension Index, coming in 29th out of 48 countries. Since the index’s inception in 2009, the US retirement system has never surpassed a C+. The big anchors […]
The U.S. retirement system doesn’t get high marks relative to other nations. In fact, the U.S. got a C+ grade and ranked No. 29 out of 48 global pension systems in 2024, according to the annual Mercer CFA Institute Global Pension Index, released Tuesday. It analyzed both public and private sources of retirement funds, like […]
Morgan Stanley on Wednesday topped analysts’ estimates for third-quarter profit as each of its three main divisions generated more revenue than expected. Here’s what the company reported: Earnings:$1.88 a share vs $1.58 LSEG estimate Revenue: $15.38 billion vs. $14.41 billion estimate The bank said profit rose 32% to $3.2 billion, or $1.88 per share, and revenue jumped 16% to […]
Many retired workers are struggling with rising prices. Gallup reports that a record number of Americans cited inflation as a source of financial hardship in 2024, and a recent survey from the Employee Benefit Research Institute found that over half of retirees worry they will need to make substantial spending cuts to keep up with […]
Social Security revealed their plans for 2025 — including raising the amount of money that you can be taxed on each year. Average wages subject to Social Security taxes will be rising in 2025. Meaning, if you make less than or at least $176,100 in 2025, you will be subject to the tax. In 2024, […]
Warren Buffett has always been clear about how he wants to handle his wealth with his kids, famously saying he’d give them “enough so they can do anything but not enough so they can do nothing.” His son, Peter Buffett, really took that to heart. At 19, Peter made a bold move by cashing in […]
The Mercer CFA Institute Global Pension Index assesses retirement income systems around the world. The Netherlands has held onto the top spot as the country with the best pension system in the world, due to its strong asset base and very sound regulation, according to the Mercer CFA Institute. The report compared 48 countries across […]
Every month the Social Security Administration sends out millions of payments to beneficiaries. The benefit amount that is paid out to recipients varies depending on the personal situation of beneficiaries. The government agency issues annual official estimates to offer a broader picture to know in advance the possible amount of Social Security benefits. These payments […]
In a prosperous future, retirees should be toasting their golden years with drinks that have little umbrellas. Instead, they could be worrying about a vexing question: What happens if Social Security reserves go bust? Such a scenario could play out within 10 years, if Congress fails to act. Without its intervention, the Social Security Old-Age […]
It might be difficult for older Americans to admit that younger generations have valuable financial lessons to offer. That’s not how advice usually works, but it might be time for seasoned workers to take some cues from their kids, as embracing the tools and approaches of younger investors can make a big difference in everyone’s […]
Prime Minister Keir Starmer used a glitzy London investment summit to proclaim growth and wealth creation the cornerstones of his government, seeking to draw a line under a rocky first three months in power that saw his negative rhetoric about the state of the public finances weigh on economic sentiment. The gathering of figures from […]
Want to overhaul your personal budget in the final months of 2024 and get a jumpstart on 2025? It’s about time for a quarterly review! Break Your Budget Founder Michela Allocca joins Brad Smith on Wealth to talk about methods to track and adjust spending habits to meet savings goals. “The first is to make […]
