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☆ Many retirees don't delay Social Security benefits, research finds. Here's why experts say it pays to wait
▼ + stars: | 2024-04-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

And more than half of that group will primarily rely on Social Security for income, according to new research from the Alliance for Lifetime Income. Deciding when to claim Social Security retirement benefits is a high stakes decision. Eligibility for retirement benefits starts at age 62. But full retirement age – generally age 66 or 67, depending on an individual's birth year — is when retirees may receive 100% of the benefits they've earned. For each year you wait past full retirement age up to 70, you may receive an 8% benefit boost.

Persons: –, they've, Teresa Ghilarducci Organizations: Social Security, Alliance for Lifetime, Social, The New School for Social Research, Alliance, Lifetime Locations: New

☆ Opinion | Working in Old Age Can’t Be the Only Answer to the Retirement Crisis
▼ + stars: | 2024-03-15 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

“Is this what America’s retirement system has come to?” she asks. “Are we heading for a TikTok pension system?”Ghilarducci argues that working longer is not the solution to America’s retirement crisis, in which millions of people don’t have enough money for a comfortable old age. The most important fix, she says, is to shore up Social Security and complement it with a new automatic-enrollment pension plan for workers who lack access to an employer-sponsored retirement plan. I’ve been arguing that working longer kind of is the solution for the retirement crisis, or at least part of the solution. “Yes, Granny deserves a good job if she wants one,” she writes, “but working until you drop is not a civilized plan for a civilized society.”

Persons: Teresa Ghilarducci, —, Ghilarducci, I’ve, I’m, Granny, ” Organizations: Walmart, Social Security, New School for Social Research Locations: New, New York

☆ Many workers believe pensions are key to achieving the American Dream. But getting those plans back isn't easy
▼ + stars: | 2024-03-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

watch nowMore than three-quarters of Americans, 77%, say the unavailability of pensions is making it harder to achieve the American Dream, according to a new report from the National Institute on Retirement Security. With the shift from pensions to 401(k)s, the responsibility for saving for retirement has transferred from employers to workers. "When not managed properly, defined benefit plans can end up like Ponzi schemes," Greszler said at Wednesday's Senate hearing. Neither Social Security nor multiemployer pensions can pay benefits as promised, she noted. To shore up Social Security, the average American household would have to pay at least $3,000 per year more in taxes, money that would better be invested in personal accounts, Greszler argued.

Persons: Rebecca Cook, Sara Schambers, Schambers, Teresa Ghilarducci, Ghilarducci, Rachel Greszler, Greszler, Sen, Bill Cassidy Organizations: United Auto Workers, Sterling Heights Assembly, Reuters, Ford, Washington , D.C, UAW, National Institute on Retirement Security, Pensions, Finance, Security, Workers, The New School for Social Research, The Heritage Foundation, Senate, Social Security Locations: Sterling Heights, Sterling Heights , Michigan, Washington ,, New

☆ Opinion: Psychology explains why the Israeli–Palestinian conflict is so intractable
▼ + stars: | 2024-01-16 | by ( Opinion Nafees Hamid | ) edition.cnn.com time to read: +13 min

CNN —As fighting continues between Israel and Hamas, many may wonder why this war — and, more broadly, the decades-long Israeli–Palestinian conflict — is so intractable. A feature of sacred values is that they cannot be traded-off with profane values like material incentives to compromise. When each side was offered foreign aid to incentivize the deal, it produced a backfire effect among those who held sacred values. When a symbolic concession was offered, those holding sacred values were less angered and disgusted by the deal, and support for violent opposition plummeted. Carrot-and-stick policies, such as the promise of foreign aid coupled with the threat of sanctions, backfire when presented to those holding sacred values.

Persons: Nafees Hamid, one’s, Alexi J . Rosenfeld, Khaled Meshaal, Bezalel Smotrich, Israel ”, Israel, Bezalel, it’s, Netanyahu Organizations: King’s College London, CNN, UN, Getty, Israel Defense Forces, Hamas, Defense, Administration, West Bank, Palestinian, New School for Social Research, Jewish, Israel, Tel Aviv University, Bank Locations: Israel, US, Qatar, Palestine, Gaza, Jordan, Russian Republic of Dagestan, Berlin, Jerusalem, Israeli, Palestinian

☆ There's one big unexpected culture shock Americans can't stop talking about when they move to Europe
▼ + stars: | 2024-01-15 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +5 min

Americans who've moved to Europe often share the most shocking things about their new environments. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Americans living in Europe sometimes report relatively well-known differences as culture shocks, including siesta culture in Spain, where an afternoon nap is customary, and differences in tipping expectations . But there's at least one slightly more unexpected culture shock that many American expats can't stop talking about — hang drying clothes instead of using electric dryers. Some Americans have also filmed themselves navigating a drying rack, which they said they weren't used to using in the US.

Persons: who've, —, Ruth Schwartz Cowan, Kirstin Munro, Munro Organizations: Service, Housing Survey, Engineering, European Commission, European, University of Pennsylvania, Household Technology, American Technology, BI, New School for Social Research Locations: Europe, Spain, Italy, American, Germany, Latvian, New York

☆ Elliott Erwitt, Whose Photos Are Famous, and Often Funny, Dies at 95
▼ + stars: | 2023-11-30 | by ( Richard B. Woodward | ) www.nytimes.com time to read: +1 min

Boris later traveled to Japan to be ordained as a Buddhist priest and returned to practice his adopted religion in Manhattan. Mr. Erwitt credited “shyness” — he had arrived in New York speaking no English — with making him a photographer. He began seriously taking pictures in Los Angeles with an antique glass-plate camera when he was 16, then upgraded to a Rolleiflex. The unheroic and the offbeat had already become signature motifs for Mr. Erwitt. He made his first dog-related pictures in 1946, for a fashion story about women’s shoes for The New York Times Magazine.

Persons: Boris, Erwitt, ” —, “, ”, Capa, Steichen, Henry, Henry Luce Organizations: Hollywood High School, Los Angeles City College, New School for Social Research, Army, Army Signal Corps, New York Times Magazine Locations: New Orleans, Japan, Manhattan, New York, Los Angeles, France

☆ Harry Belafonte, calypso star and civil rights champion, dies at 96
▼ + stars: | 2023-04-25 | by ( Alex Johnson | Diana Dasrath | ) www.cnbc.com time to read: +9 min

Singer Harry Belafonte speaks during a press junket at The Bing Decision Maker Series with the Sing Your Song Cast and Filmmakers on January 22, 2011 in Park City, Utah. American singer Harry Belafonte performing in a recording studio, circa 1957. By the early 1960s, Belafonte had become a force in the civil rights movement. A crowd of over 10,000 civil rights marchers gathers in the Manhattan Garment Center as Harry Belafonte sings at spiritual at a civil rights rally. A capacity audience of civil rights advocates turned out to watch a glittering array of theater personalities perform.

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