Tag: Retirees

34% of Retirees Spend More Than They Budgeted, a Survey Says

When we’re young, many of us envision retirement as a time of freedom and relaxation after decades in the workforce, but this isn’t always how it goes. Retirement means life on a fixed income: an income you essentially guess at based on your goals and estimates of inflation, life expectancy, and investment growth. Optimism is…

How Will the New Tax Law Affect Retirees?

The changes in the Tax Cuts and Jobs Act signed into law late in 2017 will be reflected in 2018 tax returns, which are filed this spring. The law is one of the most sweeping tax code reforms of the last three decades, and is likely to affect all Americans who file tax returns. Many…

Will 16,000 Sears Canada retirees see their pensions?

Sears Canada pensioners saw it coming. In 2013 they predicted that Sears Canada would go out of business, stranding them with an enormous deficit in the pension plan they had been contributing to for most of their working lives. A deficit would mean reduced pension payouts in retirement – reductions many of them could ill…