A city in California just pays residents $500 a month: how it affects their lives

A city in California just pays residents $500 a month: how it affects their lives

Groceries, electricity bills, tuition fees of children. Here are some of the current expenses, which now can not afford, Thomas Vargas, a resident of Stockton (CA), thanks to $ 500 a month which he receives from the local government. Photo: Depositphotos Vargas is among the 125 residents who were randomly selected to participate in the first in the country experiment of the government on the guaranteed basic income, writes CBS News.

“I was surprised, then shocked, and now I am grateful,” said 35-year-old Vargas about the program.

According to him, his family and close friends know about it receives government benefits, […]

Basic income program put to test in Stockton, California

Basic income program put to test in Stockton, California

The first government-led test of a basic income is underway in Stockton, California.

Tomas Vargas Jr. is among a pool of 125 recipients of a $500 a month cash transfer funded by the city.

The stipend comes with no strings attached: Vargas is spending his $500 a month investing in his kids’ education — and his family’s future. Groceries, electricity bills, tuition and kids’ tutoring fees: These are some of the recurring costs that Stockton, California, resident Tomas Vargas Jr. can now afford thanks to the $500 per month he’s receiving from the local government.Vargas Jr., a participant in […]

A city's residents got free money — here's what happened

A city's residents got free money — here's what happened

The first government-led test of a basic income is underway in Stockton, California.

Tomas Vargas Jr. is among a pool of 125 recipients of a $500 a month cash transfer funded by the city.

The stipend comes with no strings attached: Vargas is spending his $500 a month investing in his kids’ education — and his family’s future. Groceries, electricity bills, tuition and kids’ tutoring fees: These are some of the recurring costs that Stockton, California, resident Tomas Vargas Jr. can now afford thanks to the $500 per month he’s receiving from the local government.Vargas Jr., a participant in […]

125 residents of this city got hundreds a month in free money — here’s what happened

125 residents of this city got hundreds a month in free money -- here's what happened

Basic universal income: Testing a weapon agai…

CBSN Live Basic universal income: Testing a weapon agai…

Jul 29, 2018 06:39 buttons/button-playertray-rightbuttons/button-playertray-right The first government-led test of a basic income is underway in Stockton, California. Tomas Vargas Jr. is among a pool of 125 recipients of a $500 a month cash transfer funded by the city. The stipend comes with no strings attached: Vargas is spending his $500 a month investing in his kids’ education — and his family’s future. Groceries, electricity bills, tuition and kids’ tutoring fees: These are some of the recurring costs that Stockton, California, resident […]

Why advisors may urge retirees to load up on equities

Why advisors may urge retirees to load up on equities

Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about.

Why advisors may urge retirees to load up on equities
Retirement savers will be better off boosting their equity allocation if they have a safety net in the form of assets that provide guaranteed income, such as Social Security, pension and annuities, according to CNBC. “If you have a safety net, the consequences of risk aren’t as severe for you,” says a wealth manager. “If you have significant guaranteed income, your portfolio is more skewed toward safety.”
Think 3% is small […]

What do Midwest working-class voters want and need?

What do Midwest working-class voters want and need?

If Donald Trump ends up facing off against Joe Biden in 2020, it will be portrayed as a fight for the hearts and souls of white working-class voters in Pennsylvania, Wisconsin, and my home state of Michigan.

But what do these workers want and need? The President and his allies on the right offer a mixture of economic nostalgia, crass nativism, and trade wars. Many on the left ( though not Biden himself ) promise a guaranteed income for underemployed and out-of-work populations.

Yet evidence suggests that most of these voters ultimately want the “dignity of work” via a good-paying job. […]

This Father’s Day, instead of a customary gift, help your father in leading a secure and healthy life

This Father’s Day, instead of a customary gift, help your father in leading a secure and healthy life

While fathers are comparatively easy to make happy – as a good tie, a nice perfume or a classy watch might seem convenient and convincing, but it may not be a perfect one at his age. With Father’s Day just round the corner, everyone is trying to find the perfect gift for their dads. While finding the perfect gift is anyway a difficult task, what’s more difficult is finding a meaningful gift that would express your heartfelt love for your father. While fathers are comparatively easy to make happy – as a good tie, a nice perfume, a classy […]

After death of spouse, CPP survivor’s benefit can be a shock

After death of spouse, CPP survivor's benefit can be a shock

Susan Noakes · CBC News · Posted: Jun 12, 2019 4:00 AM ET | Last Updated: 44 minutes ago Seniors attend an event outlining information to better protect vulnerable investors last April in Victoria. Surviving spouses are entitled to up to 60 per cent of their partner’s CPP benefit, but may be surprised at how little they get. (Chad Hipolito/Canadian Press) Sometime in the painful days after a husband or wife’s death, the funeral home or a family member will encourage the bereaved spouse to fill out the paperwork to get the Canada Pension Plan survivor’s benefit.

It’s a moment […]

Fifth Annual Guaranteed Lifetime Income Study

New Research from Greenwald & Associates and CANNEX Highlights Drivers of Demand for Guaranteed Income Products, Gaps Between Advisor and Client Perceptions

WASHINGTON, June 12, 2019 /PRNewswire/ — Interest in guaranteed lifetime income products is closely tied to whether they are positioned as part of a retirement income strategy, stock market performance, ensuring healthcare needs are met, or concerns about running out of money in retirement, according to the fifth annual Guaranteed Lifetime Income Study by Greenwald & Associates and CANNEX.

The comprehensive survey of 1,005 Americans between the ages of 55 and 75, with at least $100,000 in investable […]

Here’s why advisors may urge retirees to load up on equities

Here’s why advisors may urge retirees to load up on equities

Slocan Lake, BC

Ira T. Nicolai | Stone | Getty Images

It’s not every day that you’d tell a retiring client to ratchet up their stock exposure, but if she has some guaranteed income, it just might make sense.That’s because pension income, Social Security benefits and income annuities all provide retirees with a measure of safety, said Michael Finke, professor of wealth management at The American College.“If you have a safety net, the consequences of risk aren’t as severe for you,” he said, speaking at the American Institute of CPAs Engage conference in Las Vegas.“If you have significant guaranteed income, your […]