Thursday, December 19

Tag: Income

Why Do Jobs No Longer Offer Pensions?  | Retirement
22Dec By adminNo Comments
Money

Why Do Jobs No Longer Offer Pensions?  | Retirement

For many years, companies often provided workers with a pension plan, a valuable benefit that set them up with a steady source of guaranteed income during retirement. These days, fewer employers offer a pension: Only 15% of private industry workers had access to one in 2022, according to the Bureau of Labor Statistics.Retirement plans that rely on employee contributions and the rate of returns on their investments are more prevalent today. According to the BLS, 69% of private industry workers had access to such plans in 2022.Why are pensions less common? Consider the following: How pension plans work. Understanding why employers used to offer pensions. Changing times: the shift from traditional pension plans. Contemporary factors contributing to the disappearance of pensions. Alterna...
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Sebi streamlines criteria for grant of accreditation to investors
18Dec By adminNo Comments
Business

Sebi streamlines criteria for grant of accreditation to investors

NEW DELHI: Capital markets regulator Sebi on Monday simplified the requirements for the grant of certification to accredited investors. A person or entity identified as an accredited investor based on net worth or income. Such investors can invest in securities that may not be available to retail investors. Under the framework, accreditation agencies, which are also KYC Registration Agencies (KRAs), can access Know Your Customer (KYC) documents of applicants available with them in the capacity of KRA and can also access the same from the database of other KRAs for accreditation, Sebi said in a circular. The accreditation agencies will grant accreditation solely based on the KYC and the financial information of the applicants. The certificate issued by accreditation agencies will include ...
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No, Social Security Isn’t ‘Earned’
10Dec By adminNo Comments
Health

No, Social Security Isn’t ‘Earned’

Joe Biden and Donald Trump have something in common: Neither wants to touch Social Security. The program’s benefits “belong to the American people,” Mr. Biden said in February. “They earned them.” A month later Mr. Trump said: “We’re going to take care of our Social Security—people have earned that.”Both men have used the program as a cudgel against political opponents who have supported reining in benefits to balance the program’s troubled finances. The same goes for Medicare, which the progressive group Social Security Works has described as “an EARNED benefit,” adding that “anyone who proposes cuts to this program is reaching into your pockets and stealing from you!”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 ...
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How to Turn $500K Into Passive Retirement Income | Retirement
7Dec By adminNo Comments
Money

How to Turn $500K Into Passive Retirement Income | Retirement

You’re likely familiar with the phrase "Let your money work for you." That’s the idea behind the concept of passive income, which means earning money with little or no effort.In retirement, it’s certainly possible to generate passive income with your investment portfolio. For example, if you want to invest $500,000 to create passive income, you can go about it in several ways, but give it some thought before jumping in."Investing $500,000 to generate passive retirement income requires careful planning and consideration of various factors, such as risk tolerance, desired income and investment timeline," said Walter Russell, president of Russell and Company in New Albany, Ohio, in an email.Passive or semi-passive income options include: Fixed-income securities. Dividend-paying stocks. Re...
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How I Save Money by Living Simply in Retirement | Retirement
1Dec By adminNo Comments
Money

How I Save Money by Living Simply in Retirement | Retirement

Embracing a simple lifestyle in retirement can help you relax, appreciate what you have and save money over the long term.Janet Ruth Heller and her husband, Michael, both former college professors in Portage, Michigan, accomplish this by staying active but keeping a close eye on spending. "Both of us earn some income each year from part-time work," Heller said in an email. "However, we rely on our savings and some investments for most expenditures. We do not want to live extravagantly."If you’re also looking to save money by living simply in retirement, here are some ideas from Heller and financial experts : Create an income plan. Track each dollar. Keep living expenses low. Get involved in groups. Avoid impulse spending. Choose activities thoughtfully. Create an Income PlanAs you c...
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Can I Retire at 65 With $5 Million? | Retirement
11Oct By adminNo Comments
Money

Can I Retire at 65 With $5 Million? | Retirement

If you set aside millions for retirement, you’ll be far above average in terms of wealth compared to many Americans. The average 401(k) balance in the second quarter of 2023 was $112,400, according to Fidelity Investments. That said, savings rates are going up: The average balance has increased 8% from five years ago and nearly 40% from 10 years ago. The number of retirement millionaires is rising, too. According to Fidelity, there were 378,000 millionaires holding a 401(k) account in the second quarter of 2023, compared with 340,000 in the year's first quarter, representing a 10% increase. Among those with individual retirement accounts, the number of millionaires in the first quarter of 2023 was 307,623, and in the second quarter, it was 349,104, indicating a 13% increase.If you have a ...
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Avoid Becoming One of These Retirement Statistics | Retirement
26Sep By adminNo Comments
Money

Avoid Becoming One of These Retirement Statistics | Retirement

Saving for retirement is a long game that rewards the early birds. Here's a look at six unfortunate retirement statistics and tips on how to avoid becoming one of them. 1. Social Security Benefits Provide Retired Workers With an Average of Just $22,044 Per Year Retired workers in 2023 are receiving an average of $1,837 per month – or $22,044 per year – in Social Security benefits. While Social Security benefits can be a helpful part of a retirement plan, the income is often not enough on its own – especially amid record inflation rates in recent years. 2. More Than 1 in 4 Adults Who are Still Working Aren't Saving for Retirement About a quarter of American adults who are still working (28%) say they don't have any retirement savings, according to the Economic Well-Being of U.S. Households...
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YES Bank’s net profit rises 10.3% in Q1, NII grows 8.1% to Rs 2,000 cr
22Jul By adminNo Comments
Business

YES Bank’s net profit rises 10.3% in Q1, NII grows 8.1% to Rs 2,000 cr

YES Bank reported a smaller-than-expected increase in quarterly net profit on Saturday as it kept aside more money for bad loans, denting the impact of higher net interest income. The private lender's standalone net profit rose 10.3 per cent for the April-June quarter from the same period last year to Rs 343 crore ($5.25 million), missing analysts' average forecast of Rs 380 crore, according to Refinitiv data. Yes Bank's provisions and contingencies, net of recoveries made against loan accounts written off as bad, more than doubled to Rs 360 crore from Rs 175 crore a year earlier. The gross non-performing asset (NPA) ratio decreased to 2 per cent at the end of June from 2.20 per cent at the end of March, while its net NPA ratio rose slightly to 1 per cent from ...
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