Posts by Ben Geier:
According to Bureau of Labor Statistics (BLS) data, in January of 2021 the labor force participation rate for women dropped to 57%. This was the lowest it had been since 1988, when it fell to less than 58% (compared to when it reached above 60% in the late 90s and into the aughts). It is believed that the childcare crisis, driven by pandemic-related daycare and school closures, has caused many women with children to leave their jobs. Some jobs, though, are seeing an increase. SmartAsset crunched the numbers to see which professions are gaining in their ranks of women workers. Read more
Listen up, ladies and ghouls – it’s Spooky Season once again. Get out your favorite decorations, figure out your costume ideas and get ready to eat more candy than you should, because Halloween is upon us. While the COVID-19 pandemic may still put a bit of a damper on the holiday once again this year, hopefully many people, especially those with kids, will be able to celebrate. SmartAsset crunched the numbers to identify and rank the best cities in America for Halloween (though unfortunately, we couldn’t confirm how many houses hand out full-size candy bars vs. how many hand out raisins). Read more
Nationwide thinks that its new product can change retirement planning for the majority of Americans who do not have access to traditional pension plans. The financial services company is working with Capital Group (the home of American Funds) and Annexus Retirement Solutions to offer a hybrid product: a new target date fund packaged with an annuity to provide retirement income as part of a savings plan. This differs from usual target date funds, which function as wealth builders but don’t have a built-in distribution mechanism. If you want help maximizing your 401(k) plan or taking other steps to get ready for retirement, consider using SmartAsset’s free matching service to find a financial advisor for your needs. Read more
The Social Security Administration said on October 13 that Social Security and Supplemental Social Security payments will be going up by 5.9% in 2022. Advocates for older Americans, however, caution… Read more
Divorce can be a pricey proposition – according to a 2019 survey by the legal website Nolo, the average cost of a divorce is around $12,900, including more than $11,000 in attorney’s fees. Divorce at… Read more
Long-term care (LTC) insurance is a smart way to get ready to face what can be a hefty cost later in life. Many people need some help taking care of themselves as they get older — especially these… Read more
Saving for retirement is an important part of financial planning for nearly all Americans. There is currently a gap of $28 trillion between what Americans have saved for retirement and what they… Read more
When working with a financial advisor, one of the most important questions to ask is how exactly the advisor will be making money. Broadly speaking, there are two ways financial advisors get paid:… Read more
Though recent years have seen tremendous strides in areas of social and financial equality for LGBTQ Americans, the history of marginlization that the community faced has left many older LGBTQ people… Read more
COVID-19 has impacted Americans in many different ways. And while some workers say that the pandemic has caused them to delay retirement, a study from Northwestern Mutual shows that younger people… Read more
Growing old can bring distinct challenges, including the need for long-term care. While there is no guarantee that you’ll end up needing long-term care, many people’s health in their later years… Read more
Long-term care insurance is designed to help Americans afford the healthcare services some need, whether that be near the end of their lives or years earlier than that. The exact details of your… Read more
Between possibly declining health, changing family situations and the psychological stress of approaching your later years, getting older can be very difficult. It doesn’t get any easier when you add… Read more
Long-term care, which generally includes services like home care, assisted living and skilled nursing, is something most people hope they never have to use. But if you do end up in a position where… Read more
One of the major pieces of the COVID-19 relief package passed on March 11 by the Biden administration was an expansion of the Child Tax Credit. This included increasing the credit amount from $2,000… Read more
It’s fairly common knowledge that many Americans are facing a retirement savings gap. In 2015, the gap between what they needed to have saved and what they’ve actually saved was $28 trillion. But it… Read more
Long-term care encompasses a big umbrella of services that generally breaks into three buckets: home care, assisted living and skilled nursing. While long-term care isn’t the most fun conversation to… Read more
Annuities can be an attractive investment option for retirement planning. However, they are a bit more complex than your average investment. In fact, it isn’t simply a matter of picking a stock and… Read more
Annuities are a popular option for people planning for retirement, but there are many different types of annuities that you can choose from. One popular option is an indexed annuity, a hybrid type of… Read more
$5 million may seem like an impossibly large amount of money, but if you aren’t careful, it can run out quicker than you’d imagine. Through some simple investing strategies, though, you can make $5… Read more
When a loved one dies, there are a lot of things to worry about, from planning the funeral to dealing with your own emotions. As is often the case though, money is a major part of the calculus of… Read more
Trusts are useful financial tools, often used for the purpose of planning an estate. A trust is essentially a legal framework into which ownership of assets can be placed. These assets can include… Read more
For older Americans, healthcare costs are always a concern. And the costs of prescription medicines can weigh particularly heavy on those who need them to survive. President Joe Biden has called on… Read more
Beyond acting as headquarters for the state’s high court, the state legislature and the governor’s office, state capitals can also be ideal places to live. Some state capitals are more populous,… Read more
While many companies offer their employers access to 401(k) plans, there is no requirement mandating them to do so. But this could soon change under a proposal that would require more employers to… Read more
