There is a seemingly endless debate about whether Americans have sufficient savings for retirement (see here and here). The answer is that many do. But tens of millions do not. Overall retirement assets have grown enormously in recent years-- to $36 trillion, despite a terrible stock market in 2022. But looking at total retirement plan savings, or even average 401(k) [...]
The Trump Administration is (very quietly) looking at ways to reinvigorate the flagging private long-term care (LTC) insurance market. The recommendations are expected to surface later this year. And they likely will be very modest. The ideas being considered would make some regulatory changes and create new tax subsidies to encourage consumers to purchase private LTC insurance. They would send [...]
Earlier this month, with absolutely no fanfare, the Treasury Department announced what could be a major change in the way we save for retirement. It will now permit people to shift a portion of their 401(k)s or IRAs into a deferred annuity that provides a guaranteed stream of income once you reach old age. The idea has the potential to [...]