Global pension assets have surged to an all-time high of $58.5 trillion as of December 2024, marking a 4.9% increase from the previous year. According to the latest Global Pension Assets Study by WTW’s Thinking Ahead Institute, this growth is primarily driven by the expansion of defined contribution (DC) pension markets, as well as increased … Read more
Retirement should be a time of financial security, but many retirees unknowingly pay more in taxes than they need to. With smart planning and an understanding of tax-efficient strategies, retirees can reduce their tax burden and maximize their savings. Here are the most effective and legal ways to lower income taxes in retirement while staying … Read more
As former President Donald Trump eyes a return to the White House, his economic policies face significant challenges that could shape the financial future of the United States. Chief among them are tariffs, interest rates, and inflation, which together present a complex economic landscape that could influence both consumer spending and business investment. The Tariff … Read more
The Social Security Fairness Act, passed in January 2025, seeks to eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These provisions have historically reduced benefits for millions of public sector retirees, including teachers, firefighters, and law enforcement officers who receive pensions from non-Social Security-covered employment. While the law aims to restore fairness, … Read more
Millions of Americans rely on Social Security payments for their financial stability, and on Wednesday, February 19, 2025, eligible beneficiaries can expect their deposits. These payments are part of the Social Security Administration’s (SSA) scheduled disbursement system, which ensures that beneficiaries receive their funds on designated dates based on their birthdates. Who Will Receive Social … Read more
Thousands of UK pensioners who were excluded from the 2024–2025 Winter Fuel Payment will now receive up to £300 in local aid, as councils across the country step in to support those struggling with energy costs. The decision to means-test the Winter Fuel Payment left approximately 10 million pensioners without support, sparking criticism and concern … Read more
Ameriprise Financial has filed a temporary restraining order (TRO) against three former advisors—Jared B. Roskelley, Kyle L. Robertson, and Matthew J. Tinyo—who recently left the firm to join LPL Financial in Scottsdale, Arizona. The lawsuit, filed in the U.S. District Court in Phoenix on February 12, 2025, accuses the advisors of breaching the Protocol for … Read more
Social Security Disability Insurance (SSDI) is a federal program designed to provide financial assistance to individuals who can no longer work due to a qualifying disability. While these benefits are a crucial lifeline for many, recipients often wonder whether their SSDI payments are subject to taxation. The short answer: SSDI benefits may be taxable, depending … Read more
The Tax Cuts and Jobs Act (TCJA) of 2017, signed into law by former President Donald Trump, introduced significant tax reductions for individuals and businesses. However, many of these provisions are set to expire at the end of 2025, potentially leading to higher taxes for millions of Americans. If Congress does not act to extend … Read more
A federal judge has issued a temporary block on former President Donald Trump’s initiative aimed at reducing the federal workforce through financial incentives for voluntary resignations. The ruling comes after legal challenges from labor unions and concerns over the impact such a program could have on government efficiency and worker rights. Background on the Deferred … Read more