Susannah Snider – The News Desk

Where the Presidential Candidates Stand on Retirement | Retirement

16Apr

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Money

Where the Presidential Candidates Stand on Retirement | Retirement

Key Takeaways: The Social Security retirement trust fund and Medicare Hospital Insurance trust fund will both be depleted within the next decade if no action is taken. Joe Biden proposed increasing taxes on high earners to shore up the two trust funds. Donald Trump said he supports the programs but has provided no details about how he plans to address the trust fund shortfalls. Independent and third-party candidates have various approaches to retirement topics, but none are expected to win the presidency and implement their policies. This November, voters will head to the polls to decide who should be president for the next four years. And while debates rage over topics such as border security, immigration and abortion, people shouldn’t overlook the importance of retirement issues.The...

Retiring Abroad? What Expats Need to Know About Taxes | Retirement

2Apr

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Money

Retiring Abroad? What Expats Need to Know About Taxes | Retirement

Key Takeaways: The United States is one of only two countries in the world that taxes its citizens’ global income. Annual tax returns for expats are due on June 15, but payments must be made by April 15. Other countries vary widely in how they may tax an expat’s work or retirement income, if at all. The federal government offers some tax breaks for expats, but they may not always transfer to state tax forms. Living or retiring abroad can be exciting, but it isn’t necessarily easy. You’ll need to navigate visa and residency requirements, find housing and maybe learn another language before moving. And once you’re there, that’s not the end of the challenges. Expats must also understand their tax obligations as U.S. citizens as well as what their host country might require.Here are some ...

Can You Be Fired for Talking Politics at Work? | Explore Law Firms and Legal Advice

2Apr

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Can You Be Fired for Talking Politics at Work? | Explore Law Firms and Legal Advice

Can you talk politics at work without being fired? The short answer is yes – and also no. It all depends on where you work and the context in which you’re talking politics.Contrary to popular belief, the First Amendment only protects you, as an employee, from government actions against you, says Florida-based employment attorney David Miklas. But it’s actually a little more complicated than that. “So, if a police officer wanted to arrest you for wearing a 'MAGA' hat or a Biden hat, that would be violative of the First Amendment," Miklas says. "But your boss could fire you for the same reason.” MAGA is short for the 2016 Donald Trump campaign slogan, "Make America Great Again."“In general, there are extremely limited situations where there’s any kind of free speech rights in a private work...

How to Sue Someone | Explore Law Firms and Legal Advice

2Apr

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Money

How to Sue Someone | Explore Law Firms and Legal Advice

Whether it’s due to an accident, genuine misunderstanding or misconduct, at some point many people may find themselves wondering whether they should sue a wrongdoer, and if so, how they might go about it. The particulars will depend on the case and the laws in the state where a lawsuit would be filed, but there are basic steps to understand the overall process.Consult an AttorneyPotential plaintiffs should consider hiring an attorney to represent them. Litigation is a very technical field, with procedural rules on top of the substantive issues to be addressed.It can be worth it to consult an attorney, even if a plaintiff decides not to hire a lawyer for whatever reason – perhaps because they decide to file a suit in small claims court, says W. Andrew Arnold, a South Carolina litigator who...

What Are the Average Retirement Ages Around the World? | Retirement

2Apr

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Money

What Are the Average Retirement Ages Around the World? | Retirement

Key Takeaways: Global life expectancy is increasing, leading some countries to raise their retirement ages. The retirement age varies significantly around the world, with some countries, such as Iceland, having a retirement age of 67 and others, such as Saudi Arabia, of 47. The shift in the U.S. from company pensions to individual retirement accounts puts more responsibility on workers to save for retirement. Financial considerations like Social Security benefits and health care access play a major role in determining your ideal retirement age. Global life expectancy improved from 46.5 years in 1950 to 66 years in 2000 and is anticipated to increase to 76 by 2050, according to the United Nations Population Division. As a result, some countries are revisiting their retirement ages and ...

Understanding Law Firm Hierarchies | Explore Law Firms and Legal Advice

28Dec

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Understanding Law Firm Hierarchies | Explore Law Firms and Legal Advice

In most law firms, the hierarchy is conceptually set up like a pyramid with the partners – the senior most attorneys – at its apex, more junior attorneys ranking below them and so on. But dig deeper and you'll find the structure a bit more complicated than it appears at first glance.For example, at Big Law firms, individual practice groups may have their own departmental hierarchies, effectively operating as mini-law firms within the larger organization. At the same time, smaller firms have flatter hierarchies that allow for more flexibility and collaboration, says Jamy Sullivan, executive director of Robert Half International’s legal practice.While there are more subtle aspects to law firm structure, and individual firms do differ by size and firm culture, understanding the prototypical ...

Biden’s Crackdown on Junk Fees in Retirement Plans | Retirement

22Dec

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Money

Biden’s Crackdown on Junk Fees in Retirement Plans | Retirement

As part of its initiative to curb junk fees, the Biden administration is setting its sights on retirement plans. In October, the Department of Labor proposed a rule aimed at closing loopholes and requiring financial advisors to provide retirement advice in the best interest of clients. It would expand on the current fiduciary standard that covers advice related to purchasing securities to include types of nonsecurities, affecting recommendations for IRA rollovers and advice to retirement plan sponsors and employers.The initiative also aims to reduce junk fees in retirement products such as individual retirement accounts and 401(k)s. To understand President Joe Biden’s crackdown on junk fees, consider: How much Americans pay in junk fees. What the proposal to crack down on junk fees incl...

Why Do Jobs No Longer Offer Pensions? | Retirement

22Dec

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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...

What Is the Social Security Administration? | Social Security

21Dec

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Money

What Is the Social Security Administration? | Social Security

Almost all working Americans eventually receive Social Security benefits. These funds are collected and distributed by the Social Security Administration, a federal agency that serves to fight poverty. The SSA's programs pay benefits to almost 67 million people, including retirees, children, widows, widowers and those with disabilities. As you manage your finances and prepare for retirement, it can be helpful to understand the workings of the SSA, including the following: Introduction to the Social Security Administration. History of the Social Security Administration. Functions of the Social Security Administration. How the Social Security Administration works. Role of the Social Security Administration in the U.S. economy. Challenges of the Social Security Administration. The fut...

What to Do If You’re Suffering From Lawyer Burnout | Explore Law Firms and Legal Advice

21Dec

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Money

What to Do If You’re Suffering From Lawyer Burnout | Explore Law Firms and Legal Advice

When attorneys suffer from burnout, they may not know what to do. On the contrary, they may look around at overworked colleagues and conclude that no one has time for well-being. That was the consensus of 4,450 Massachusetts attorneys surveyed for a 2023 study conducted by NORC at the University of Chicago with Lawyers Concerned for Lawyers, a nonprofit promoting attorney well-being. Of the attorneys surveyed, 77% admitted having experience with burnout.These don’t seem to be fleeting experiences, either. According to Bloomberg Law survey data, lawyers feel burned out about half of the time. And it becomes more serious the longer it persists.Workplace environments impact burnout, and law firms should do more to improve firm culture. But there are steps individuals can take on their paths ...