Tag: guaranteed income

40% of Millennials and Gen Z Expect To Live to 100: How Much Will They Need Saved for Retirement?

40% of Millennials and Gen Z Expect To Live to 100: How Much Will They Need Saved for Retirement?

ferrantraite / Getty Images Many people are living longer, and a good portion of young Americans expect to live to see triple digits in age. A new Northwestern Mutual study found that 40% of millennials and Gen Zers expect to live to be 100.

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The study also found that these younger generations plan to retire earlier than the traditional retirement age of 65 — Gen Z plans to retire at 60, which means many […]

Stimulus check update: Direct payment worth $250 scheduled to be sent in eight days

Stimulus check update: Direct payment worth $250 scheduled to be sent in eight days

A guaranteed income program for recipients in New Jersey is scheduled to issue its next payment in over a week.

The payments scheduled for July 1 will be worth $250 and are for 200 out of the 400 recipients of the Newark Movement for Economic Equity program. Half of the recipients receive smaller payments twice a month, while the other half of recipients receive larger payments once every six months, the Newark mayor’s press secretary told the Washington Examiner .

GAS PRICES TODAY: WHERE TO FIND THE CHEAPEST FUEL ACROSS THE COUNTRY "We’ve helped people to avoid eviction, supported residents […]

AI and structural inequality

AI and structural inequality

Fears are mounting that artificial intelligence will increase inequality, helping the rich to get richer and adding additional pressure on those on low incomes Artificial intelligence image showing generated human face in purple and blue The potential for good provided by artificial intelligence (AI) is immense. It can make our lives easier, by carrying out laborious and time-consuming tasks for us.

The tech can free up time for charities. They could use chatbots to write content , for example, or deal with low-level enquiries so their experts can focus on offering complex support.

AI can also harness data to propose solutions […]

Building an economic floor

Building an economic floor

Ray Mahar’s view on guaranteed basic income initiatives is clear.

“1,000 percent it works,” he says. “You see it in people putting time into their own projects, being able to hire sound technicians, volunteer with kids, play more shows,” adds Mahar, director of the Local Sound Collaborative , a music arts support organization. “It all trickles out into other people’s pockets, either with money or creative output, which keeps this ship moving along.”

Last year, the Rochester community agreed with that sentiment. With contributions from 500 donors at LSC’s concert fundraiser, the organization was able to launch its own unique Artist […]

Guaranteed income programs are growing nationwide — here’s where they’re popping up

Guaranteed income programs are growing nationwide — here’s where they’re popping up

(NEW YORK) — Guaranteed income experiments are popping up or expanding around the country, offering no-strings-attached temporary cash payments to low-income residents.

Some governmental programs limit what recipients can or cannot pay for with their assistance. Guaranteed income programs select certain groups impacted by income inequality — such as the impoverished or the formerly incarcerated — and gives them monthly cash payments for an allotted amount of time. This allows participants to use money on whatever they need or want, which allows residents to fill in the gaps of what other financial assistance may not cover.

These programs have been lauded […]

BlackRock and the Bipartisan Policy Center Chart a Path to Optimized Retirement Spending in New Paper

NEW YORK & WASHINGTON–( BUSINESS WIRE )–Americans saving for retirement could benefit from a holistic approach to planning that considers guaranteed income, optimal asset allocation, and Social Security claiming, according to new research released by BlackRock , the world’s largest asset manager, and the Bipartisan Policy Center , a leading Washington-based think tank. “ Paving the Way to Optimized Retirement Income ” examines the challenges Americans face when planning to spend their retirement savings, and how the public and private sectors can work together to find solutions to help savers.

As the report highlights, Americans with access to a retirement […]

Experts Suggest Fiver A Day Could Help Keep Biodiversity Loss At Bay

Experts Suggest Fiver A Day Could Help Keep Biodiversity Loss At Bay

For less than £5 a day per person, governments could help protect fragile and economically vital ecosystems and boost efforts to conserve global biodiversity, researchers say.

The introduction of a conservation basic income (CBI) – unconditional cash payments given to people living in protected areas or alongside at-risk species – of $5.50 (around £4.40) per day to people who live in protected areas in low- and middle-income countries would cost around £380 billion a year.

Fossil fuels and other industries harmful to the environment receive around £400 billion a year in government subsidies, the team says.Basic income The CBI concept is […]

Guaranteed income programs are growing nationwide — here’s where they’re popping up

Guaranteed income programs are growing nationwide -- here's where they're popping up

NEW YORK — Guaranteed income experiments are popping up or expanding around the country, offering no-strings-attached temporary cash payments to low-income residents.

Some governmental programs limit what recipients can or cannot pay for with their assistance. Guaranteed income programs select certain groups impacted by income inequality — such as the impoverished or the formerly incarcerated — and gives them monthly cash payments for an allotted amount of time. This allows participants to use money on whatever they need or want, which allows residents to fill in the gaps of what other financial assistance may not cover.

These programs have been lauded […]

Harris County Approves Guaranteed-income Pilot Program

Harris County Approves Guaranteed-income Pilot Program

As government agencies start to acknowledge the end of the COVID-19 pandemic, one Texas county may start giving away its federal relief funds as part of a guaranteed-income test program.

The Court of Harris County Commissioners approved a guaranteed-income pilot program titled “Uplift” in a 4-1 vote earlier this month, with Commissioner Tom Ramsey (R–Precinct 3) being the sole vote against the plan.

The 18-month program would use $20.5 million from the $915 million of COVID-19 federal relief funds to send select individuals $500 a month. These checks would go to 1,500 random citizens living 200 percent below the poverty line […]

Just Group integrates guaranteed income solution into FinCalc software

Just Group integrates guaranteed income solution into FinCalc software

Just Group’s guaranteed income producing asset has been integrated into FinCalc’s cashflow modelling software.

The guaranteed income producing asset, created by Just Group, helps portfolio managers and independent financial advisers (IFAs) achieve better client outcomes.

Just suggested that most clients can achieve higher portfolio values and a more sustainable plan when using it guaranteed income producing asset as part of the SIPP drawdown portfolio. FinCalc’s software provides advisers with user friendly tools that help them offer their clients with fully comprehensive advice.By integrating its secure lifetime income solution integration into FinCalc’s cashflow modelling software, Just said the move will help advisers […]