savings
Trump Accounts Are Now Officially Launched
The U.S. Department of the Treasury has announced the official launch of the Trump Accounts App. It is a savings and investment platform for children’s futures. Children who are American citizens born between January 1, 2025, and December 31, 2028,…
Do women save more than men?
Although men have spent more time in the labor force and have more saved in workplace retirement accounts, women tend to contribute a larger share of their paychecks to those plans. In Vanguard’s recent analysis of nearly 5 million American…
How Americans 75 and older actually fund retirement
Only 42 percent of Americans ages 75 and older have retirement savings in an IRA, 401(k), or similar account, according to the Federal Reserve’s Survey of Consumer Finances. However, it’s perhaps expected that they have run out of savings by…
Do you have a concrete spending plan?
Do you have plans on how to spend your retirement savings? If not, you are not the only one. According to the financial expert Jean Chatzky, “it’s the biggest mistake retirees can make not having a concrete plan.” Donna Fuscaldo,…
How Americans save for retirement
The general assumption for many years was that people who do not save for retirement lack the willpower to do it. However, according to the latest Vanguard study, “Its central conclusion rejects the conventional explanation for why so many people…
Savings rates are a better indicator of retirement preparation
Vanguard’s annual “How America Saves” report reported that “workers with the highest 401(K)s are not always the best savers.” The savings rate is a better indicator of retirement preparedness than account balances, according to Vanguard. Sarina Trangle, writing for Investopedia,…
The Proposed Commission to Reform Social Security
Earlier this week in this AMAC Foundation SocialSecurityReport.org forum, we reported on proposed legislation to create a new special commission to explore and evaluate options, reach bipartisan consensus, and propose legislative changes to the Social Security program to restore it…
Social Security and the National Debt
Does Social Security contribute to the national debt? According to this article published by the CATO Institute, yes it does. This once again becomes a discussion topic on the heels of the recently published annual report by the Trustees of…
Social Security Insolvency Nearing, but There is Still Time to Reform it.
In this very interesting and accurate article by David Timmons of the National Taxpayers Union (NTU), the author discusses the recently released report from the Trustees of Social Security, providing an excellent outline of the problem and how it might…
Experts Disagree on Social Security Insolvency Date
On the heels of the official annual report from the Trustees of Social Security, another budget modeling organization did a separate analysis on the program’s financial health. That new analysis suggests that rather than the SS Trust Funds running dry…