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Social Security trust fund reserves are projected to be depleted by 2035. The 2023 Social Security and Medicare Trustees annual report projects that the program's trust fund reserves will be depleted by 2035. "It's not that Social Security will disappear completely, but rather, the surplus bucket we rely on is at risk." The average Social Security check for a retired worker is only $1,907 per month, according to the Social Security Administration. Without sufficient action, reduced Social Security benefits might not be able to keep pace with rising costs.

Persons: Emily Millsap, you've, Roth, HSAs Organizations: Social Security, Avantax Wealth Management, Social, Social Security Administration, Workers

☆ How America's Retirement System Turned Into a Stressful Nightmare
▼ + stars: | 2024-04-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

Then you get to collect Social Security, on top of drawing from the nest egg you've built up over your career. The burden of saving for retirement — and the anxiety that comes with it — is a fairly new phenomenon. There's nothing irrational about being nervous that you won't have enough money to live on to last your whole life. The new system also allows people to dip into their retirement piles if need be — which can be both a blessing and a curse. AdvertisementIt's not likely that Social Security will just dry up — Congress could increase the retirement age or up the funding for the program.

Persons: they'll, Teresa Ghilarducci, —, they'd, Larry Fink, there's, Fink, It's, they're, Norman Stein, Drexel University's Thomas R, Chris Woods, They're, Stein, Riley Moynes, it's, Woods, Emily Stewart Organizations: Social, CNBC, The New School, Workers, BlackRock, Drexel, Kline School of Law, Silvis, Social Security, GOP, Security, Business Locations: America, New, Charlotte , North Carolina

☆ Why Retirement Feels so Scary for Millennials and Gen Z
▼ + stars: | 2024-04-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

Then you get to collect Social Security, on top of drawing from the nest egg you've built up over your career. In a recent CNBC survey, over half of respondents in the US said they thought they were behind on saving and planning for retirement. The burden of saving for retirement — and the anxiety that comes with it — is a fairly new phenomenon. There's nothing irrational about being nervous that you won't have enough money to live on to last your whole life. AdvertisementIt's not likely that Social Security will just dry up — Congress could increase the retirement age or up the funding for the program.

☆ I'm a business owner and 6-figure earner. Here's how my stay-at-home husband and I handle the kids and 'chore wars.'
▼ + stars: | 2024-03-05 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . My husband handles 90% of our home life while I earn 100% of our family's income: I'm the family's breadwinner. For the last seven years, my husband has been a stay-at-home dad for our four children — ages 19, 14, 7, and 5. This grueling period tested my resilience and our family dynamics, particularly as my husband stepped up to manage our home life solo.

Persons: Andrea Mac, —, It's, I've, We're Organizations: Service Locations: Greater Chicago

☆ A 34-year-old salon owner moved to NYC as a teen to cut hair. She explains how she bootstrapped a one-chair salon out of a basement before expanding to 2 bustling Williamsburg locations.
▼ + stars: | 2024-02-21 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +13 min

At 21, she bootstrapped Headchop, which started as a one-chair basement salon in Williamsburg. To step into Headchop Hair Studio is to step back in time. The humble basement salon, sandwiched between residential buildings on Berry Street in Williamsburg, Brooklyn, is easy to miss. Mabry, pictured styling hair at Headchop, says that her "fascination" with hair began in middle school. Mabry's original location, Headchop, is by appointment only.

Persons: Martha Ellen Mabry, bootstrapped, —, Alisha Wetherill, Mabry, Headchop, Samuel Robert Bullen Mabry's, messaged, she'd, It'll, Michelle Iorio, Iorio, Clinton Van Gemert, I'm, Hayley Carloni, I'd, chemo —, Lil, She'd, I've Organizations: Service, New, New Yorker, Business, South Carolina, Craigslist Locations: Williamsburg, Berry, Williamsburg , Brooklyn, New York City, New, South Carolina, New York, Brooklyn, South, DevaChan

☆ What to Watch in the New Hampshire Primary
▼ + stars: | 2024-01-23 | by ( Jonathan Weisman | ) www.nytimes.com time to read: 1 min

New Hampshire voters head to the polls on Tuesday for the first presidential primary of the 2024 nomination cycle, in a state that has been known to throw curveballs at overwhelming favorites. The withdrawal of Gov. Ron DeSantis from the Republican race on Sunday effectively left what had recently been a crowded field of candidates down to two: former President Donald J. Trump, and former Gov. The national Democratic Party, pushed by President Biden, had wanted New Hampshire Democrats to break tradition and move their primary to the end of February. New Hampshire refused, leaving the president’s supporters to mount a write-in campaign for the absent Mr. Biden against Representative Dean Phillips of Minnesota, the self-help author Marianne Williams and 19 other Democrats whose names are on the ballot.

Persons: Ron DeSantis, Donald J, Trump, Nikki Haley, Biden, Dean Phillips, Marianne Williams Organizations: New, New Hampshire voters, Gov, Republican, Sunday, Democratic Party, New Hampshire Democrats, Dean Phillips of Locations: New Hampshire, South Carolina, Dean Phillips of Minnesota

☆ Nikki Haley Battles Long Odds in New Hampshire
▼ + stars: | 2024-01-23 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

Long lines snaked into and around polling locations today in New Hampshire, where the first presidential primaries of 2024 will set the tone for the rest of the year. In the Republican contest, Nikki Haley, the former governor of South Carolina, barnstormed polling locations in a last-ditch effort to upset Donald Trump. New Hampshire, which has been known to throw curveballs into the race, has long been seen as her best, and perhaps last, shot at competing with Trump. My colleague Jazmine Ulloa, who has been covering Haley’s campaign, told me that Haley has continued to project confidence and cast herself as a fighter, despite trailing in the polls. But Haley’s campaign vowed in a memo to stay in the race no matter what happens.

Persons: Nikki Haley, Donald Trump, Jazmine Ulloa, Haley, ” Jazmine Organizations: Republican, Trump Locations: New Hampshire, South Carolina, Donald Trump . New Hampshire

☆ Astros still confident heading into Game 2 of ALCS vs. Rangers
▼ + stars: | 2023-10-16 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

Participating in their seventh consecutive ALCS, the longest such streak in AL postseason history, the Astros have shown resilience plenty of times previously. Houston won't have to wait long for a chance to even things, as it plays host to the Rangers on Monday in Game 2 of the ALCS. Left-hander Framber Valdez (0-1, 10.38 ERA in postseason) is the scheduled starter for the Astros in Game 2. Valdez is 7-5 with a 2.90 ERA over 16 career appearances (13 starts) against the Rangers. Eovaldi is 3-4 with a 4.42 ERA over 10 career regular-season starts against the Astros.

Persons: Jordan Montgomery, Justin Verlander didn't, Montgomery, Verlander, We've, Framber Valdez, Valdez, Nathan Eovaldi, Eovaldi, Yordan Alvarez, Alvarez, curveballs, Aroldis Chapman, Nathaniel Lowe, Bower Organizations: Texas Rangers, Houston Astros, American League, Astros, Houston, Rangers, Minnesota Twins, AL, Texas, Tampa Bay Rays, Baltimore Orioles, Eovaldi, Twins, Montgomery, Thomson Locations: HOUSTON, Texas

☆ How to cope with a loved one’s suicide
▼ + stars: | 2023-09-30 | by ( Kristen Rogers | ) edition.cnn.com time to read: +11 min

Alexandra felt safe talking to him about anything, she said, and he made their son laugh so hard by singing and dancing. Alexandra knew Shawn had once contemplated suicide earlier in life, but he said he’d never do it. Letting go of self-blameAnother critical lesson was that Shawn’s suicide was about him, not her, Alexandra said — that what happened was not her fault or something she alone could have prevented. Journaling helped her recognize thinking patterns and emotional barriers, while support groups with others who lost a loved one to suicide gave her community. Alexandra WymanNow Alexandra has more good days than bad ones, and that masseuse she saw has said her light has started to return.

Persons: Alexandra, Shawn Wyman, “, ”, ” Shawn, Alexandra Wyman, Shawn, ” Alexandra, Alexandra Wyman Shawn, ‘, ’, Michael Roeske, “ It’s, he’d, can’t, Justin Baker, Alexandra couldn’t, wouldn’t, isn’t, It’s, Shawn didn’t, Baker, she’d, life’s, —, Journaling, I’ve, they’re, ” Baker, “ I’m, Shawn’s, ‘ You’re, I’m Organizations: Lifeline, CNN, US Navy, Sunday, Newport Healthcare Center for Research & Innovation, Initiative, Veterans, Ohio State, Wexner Medical Locations: Colorado, Newport, shouldn’t

Tim Robberts | Digitalvision | Getty ImagesWhen it comes to money, women tend to think of themselves as savers rather than investors. "The biggest risk to women's portfolios is that we don't take enough risk," said Nancy Tengler, CEO and chief investment officer of Laffler Tengler Investments in Scottsdale, Arizona. "Women make better investors than men," Tengler said, and are often less benchmark driven, willing to do more research and are open to changing their minds. Women investors tend to achieve positive returns and outperform men by 40 basis points, according to research from Fidelity Investments, based on an analysis of annual performance for 5.2 million accounts. There are reasons why women should stay actively involved in the management of their household finances, according to Tengler.

Persons: Tim Robberts, Nancy Tengler, Tengler, Edward Jones, Lena Haas Organizations: Digitalvision, Investments, Fidelity Investments, Boston Consulting Group, Microsoft, Apple Locations: Scottsdale , Arizona

☆ The job Americans would most like to see replaced by robots
▼ + stars: | 2023-09-27 | by ( Joseph Bien-Kahn | ) www.businessinsider.com time to read: +26 min

In a survey of jobs Americans would most like to see replaced by robots, the umpire would surely rank near the top. (The MLB league official tells me that legalized gambling has not been a factor in implementing ABS.) Frustratingly, the subjective has infiltrated what initially felt like a technological problem: What does the perfect strike zone even look like anyway? The MLB league official agrees, telling me the Jetson Robot Home Plate Ump is not in their plans. "Growing up, my parents would go, 'Oh, the umpire's strike zone was small!'

Persons: Jordan Pacheco, Pacheco, John McEnroe, —, Billy Beane, maniacally, Houston, it's, Ben Hurian, Paul Hawkins, Goltz, Tyler Le, Justin Goltz, he's, there's, rears, Tyler Fitzgerald, Fitzgerald, who's, FanGraphs, Bagwell crouch, Miguel Yajure, Phillip Evans, Evans, X, they'd, Dylan Yep, what's, we're, Rob Manfred, — England's, Calvin Baker, Baker, Drew Strotman, Billy Evans, Strotman, Greg Maddux, MIT grads, steph, klay thompson, alf, hite, mudge, hird, ove, ahn Organizations: Lexington Legends, Twitter, Major League, ump, MLB, Sony, NASCAR, Triple, Albuquerque, Colorado Rockies, Astros, Companies, English Premier League soccer, Rugby, NFL, NBA, ABS, Sutter Health Park, Cats, San Francisco Giants, River, Reno Aces, AAA, Atlantic League, Big, of Fame, Seton Hall Sports, MIT, hawkeyes, ust Locations: OKC, California, Sacramento, uman

☆ Women are likely to face financial curveballs in retirement — including one potentially life-destroying event
▼ + stars: | 2023-09-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

A majority of female retirees, 81%, have experienced at least one such unexpected financial event, versus 69% of men. Retired women are also more likely to face other shocks, including the death of another family member or close friend, suffering a financial setback or becoming a caregiver. Women are more likely to be caregivers for familyMoreover, a majority of unpaid family caregivers are women. Women are more likely to take on those responsibilities when they may not have enough saved for their own retirement, she said. Half of women said they are behind on retirement savings, versus just 35% of men, according to a 2022 Goldman Sachs report.

Persons: There's, Edward Jones, Lena Haas, Haas, Heather Ettinger, Ettinger, Goldman Sachs Organizations: AARP, Fairport Wealth, Social Security Locations: Cleveland , Ohio

☆ People mocked me and said my essay-writing business was screwed when ChatGPT came out. So I fought like hell.
▼ + stars: | 2023-09-13 | by ( ) www.businessinsider.com time to read: +13 min

Killer Papers is an online tutoring and essay-writing website. Through all this, Killer Papers continued to grow and saw a 70% year-over-year revenue growth from 2021 to 2022. From June 1st through August 25th of this year, revenue at Killer Papers grew almost 35% yearly. For now, I'll continue to focus on differentiating Killer Papers, adding new products and services, and adapting to changes in academia. Somewhere along the way, we'll find out how Killer Papers fits into this new AI landscape as well.

Persons: I'm, I've, ChatGPT, —, Napoleon Bonaparte, envied, Romeo, Juliet, Alan, hadn't, they're, there's, it's, we'll Organizations: Service, Business, Public, Stanford, UC Berkeley, Microsoft Locations: Wall, Silicon, Canada, Niagra

☆ Jim Abbott: The night of that no-hitter
▼ + stars: | 2023-09-04 | by ( Don Riddell | ) edition.cnn.com time to read: +12 min

CNN —Jim Abbott was used to dealing with uncomfortable social situations; in some ways, they were all he’d ever known. Abbott was about to pull off a no-hitter, one of the rarest feats in Major League Baseball. Baseball insiders will tell you that nobody ever sees a no-hitter coming, and that was certainly true for Jim Abbott. “I had some pretty serious anxiety about that game,” Abbott said in 2013. The Detroit Tigers scoreboard posting YANKEES JIM ABBOTT HAS THROWN A NO HITTER VS CLEVELAND INDIANS during Detroit Tigers vs Chicago White Sox at Tiger Stadium.

Persons: Jim Abbott, who’d, “, Abbott, ‘, ”, what’s, ” Abbott, John Zich, James E, Sullivan, Carl Lewis, Peyton Manning, Michael Phelps, Don Mattingly, ” Mattingly, he’d, Stephen Dunn, Jim Thome, Manny Ramirez, Albert Belle, Kenny Lofton, Matt Nokes, JIM ABBOTT, Chuck Solomon, Lofton, Felix Fermin, Bernie Williams, Carlos Baerga, Randy Velarde, it’s, Mattingly, I’ve, NASCAR's Busch, Kevin Winter, Jim’s, that’s, he’s, Nick Newell, Newell, Kevin Laue, Shaquem Griffin, “ There’s, Jim, Scott Halleran, He’s, wasn’t Organizations: CNN, CNN Sport, Yankee, Major League Baseball, University of Michigan, Wolverines, Big Ten, Pan American Games, Seoul, MLB, Yankees, Major League, California Angels, New York Yankees, Chicago White Sox, Milwaukee Brewers, Cleveland Indians, Baseball, Cleveland, Detroit Tigers, CLEVELAND INDIANS, Tiger, Sports, Los Angeles Coliseum, Martial Arts, NFL, Toronto Blue Jays Locations: New York, Flint , Michigan, AFP, US, California, Bronx, Cleveland

☆ Framber Valdez tosses no-hitter as Astros top Guardians
▼ + stars: | 2023-08-02 | by ( Field Level Media | ) www.reuters.com time to read: +4 min

August 2 - Framber Valdez tossed his first career no-hitter and faced the minimum 27 batters as the Houston Astros made a pair of third-inning runs stand in a 2-0 victory over the visiting Cleveland Guardians on Tuesday. Valdez threw five pitches in the seventh inning and 10 in the eighth, allowing him to enter the ninth with 81 on his ledger. When I got to the seventh inning, I thought to myself, 'OK, I think I can finish this game without any hits.' The last Astros pitcher to throw a solo no-hitter before Tuesday was Justin Verlander on Sept. 1, 2019, vs. the Blue Jays. The Astros provided Valdez the necessary run support in the bottom of the third, mustering two runs off Guardians rookie right-hander Gavin Williams with two outs.

Persons: Framber Valdez, Oscar Gonzalez, David Fry, Valdez, Gonzalez, Will Brennan, Fry, Brennan, Gabriel Arias, Myles Straw, Cam Gallagher, Jeremy Pena, Domingo German, Justin Verlander, Houston, Dusty Baker, Martin Maldonado, Gavin Williams, Williams, Maldonado, Gallagher, Jake Meyers, Jose Altuve, Pena, Kyle Tucker, Alex Bregman, Tucker, Jose Abreu, Chas McCormick, Cleveland, Corbin Burnes, Josh Hader Organizations: Houston Astros, Cleveland Guardians, New York Yankees, Domingo, Oakland A's, Detroit Tigers, Toronto Blue Jays, Astros, Philadelphia Phillies, Houston, Blue Jays, Milwaukee Brewers, Thomson

☆ Singapore relaxes COVID travel curbs, mask rules further
▼ + stars: | 2023-02-09 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

However, masks will still be mandatory in healthcare settings, where there is interaction with patients and in indoor patient-facing areas. "Within Singapore our COVID situation has remained stable over the recent months, despite increased travel over the year-end holidays and China's shift from zero COVID," Lawrence Wong, deputy prime minister and co-chair of the virus taskforce, told a media briefing. But we managed to reach this point together because we all did our part," Wong said. Since April last year, Singapore had lifted most of its COVID-19 restrictions with many international events returning to the city-state, attracting tourists and businesses. The Asian financial hub is expecting the tourism sector to recover to pre-pandemic levels by 2024.

☆ Investors should sell stocks and take profits as the latest rally is set to falter amid surprises from the Fed and weak corporate earnings, JPMorgan says
▼ + stars: | 2023-01-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Investors should sell stocks and take profits as the current market rally is set to fizzle, according to JPMorgan. The bank said stocks will face several curveballs this year thrown by the Fed and weak corporate earnings. "We... are reluctant to chase the past week's rally as recession and overtightening risks remain high," JPMorgan said. Given the risk-reward profile, JPMorgan increased its underweight recommendation for equities and took profits in credit in its model portfolio. While JPMorgan has a bearish view on stocks in the short-term, longer term it still sees the potential for upside.

☆ JPMorgan says take profits on this rally as it will start to fade in the first quarter
▼ + stars: | 2023-01-17 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Strategist Mislav Matejka said in a note to clients on Monday that the solid start to 2023 for stocks will quickly prove to be a mirage. "We believe that the current market rally will start fading as we move through Q1 ... Potential curveballs could come from the Fed, politics, disinflation phase not progressing smoothly, weaker earnings, weaker capex and renewed rollover in activity momentum," Matejka wrote. .SPX YTD mountain The stock market is off to a solid start in 2023. "The market is behaving as if we were in an early cycle recovery phase, but the Fed has not even concluded hiking yet.

Here's a case study assuming you start with no savings, plan to retire at 65 and have investments that earn 6% annually. If you want to retire with $2 million, you'll need to invest about 12% of a salary of $100,000 starting in your 20s. In your 40s, the percentage of your salary you'll need to save jumps to 35%. This does not account for variables such as a possible pay increase or decrease, employer match, inflation or any other of life's curveballs. Watch this video to find out how much money you will need to invest to save $2 million for retirement, broken down by age.

☆ Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says
▼ + stars: | 2022-12-31 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Gas prices could surge toward $7 a gallon in some US states in 2023, according to GasBuddy. It could be expensive," said Patrick De Haan, head of petroleum analysis at the firm, which tracks fuel costs, in its 2023 fuel outlook. Cities in the West Coast state of California, such as San Francisco and Los Angeles, could see gas prices approach nearly $7 a gallon in the summer of 2023, according to GasBuddy. That means 2022 will close with a yearly national average for gasoline of $3.95 a gallon, the highest yearly average recorded, De Haan tweeted. As China has reopened, oil prices have rebounded," he said in a Friday interview on CNBC.

☆ $4 gas could return as soon as May, GasBuddy projects
▼ + stars: | 2022-12-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —Gas prices will probably be significantly cheaper overall next year. Yet the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared exclusively with CNN. Why gas prices are droppingIn December 2021, before Russia amassed troops at Ukraine’s border, GasBuddy projected the national average for gas would be $3.41 a gallon in 2022. The national average is now about 20 cents below the same period of a year ago, according to AAA. Gas prices are not expected to return to $5 this summer – although GasBuddy isn’t ruling that out.

☆ The Pitching Secret That Helped the Astros Become World Series Regulars
▼ + stars: | 2022-10-28 | by ( Tim Brown | ) www.wsj.com time to read: 1 min

HOUSTON—On a quiet recent afternoon in the Bronx, an important baseball game just hours away, Houston Astros right-hander Jose Urquidy was in the bullpen, taming a curveball that has a tendency to go its own way. One after another, the pitch wasn’t quite right, this time too short, this time too loopy, this time unfamiliar off his fingers. The perfect one was in there somewhere, he knew, because he had thrown enough of those, too. Framber Valdez, a left-hander for the Astros, watched from nearby. Finally he said, “Jose.”

Consistently saving a small percentage of your salary is a simple way to ensure you're prepared for retirement. As a rule of thumb, most financial advisors suggest you save 10% to 15% of your earnings. Here's a case study assuming you start with no savings, plan to retire at 65 and have investments that earn 6% annually. If you want to retire with $2 million, you'll need to invest about 24% of a salary of $50,000 starting in your 20s. Watch this video to find out how much money you will need to invest to save $2 million for retirement, broken down by age.

Though some studies indicate that couples who combine finances are happier, many younger couples are opting to keep things separate. Here are eight reasons why couples should consider combining finances, and why this idea isn't as old-fashioned as you may think. The average interest rate for a savings account is 0.09% APY, though there are many online banks with savings programs that have a much higher interest rate. Communicate more up front about your financial goals and values with your current partner to make sure you're both on the same page." Combining finances from the beginning and having regular check-ins about your finances can prevent the surprises that lead to conflict.

Persons: —, Amanda Clayman, Sherri Newpol, Clayman, Brian Face, spender, you'll Organizations: Research, Service, Prudential, Newpol Psychological

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