Tag: guaranteed income

Major pension file – A good retirement without necessarily being a millionaire

Major pension file – A good retirement without necessarily being a millionaire

Good planning enabled a couple to retire before age 65 and secure a reasonable lifestyle. Here’s how they pulled it off.

Aged 59 and 62 respectively, Suzanne and André retired this year. And yet, they are far from being millionaires and have no pension fund! It was foresight and planning that got them there.

Their financial planner, Hadi Ajab, says the couple are debt-free, which is a big plus when they retire. They have contributed to an RRSP and a TFSA, and Suzanne has a locked-in retirement account (LIRA) from a former employer. Between them, they have no more than […]

However, I see in the news that annuity rates are rising. Is now the time to buy one?

However, I see in the news that annuity rates are rising. Is now the time to buy one?

I am aged 68 and enjoying the early years of my retirement. I’m currently drawing money from my pension pot to provide me with a regular income. I also get the full state pension.

Up to this point I have avoided annuities as I have heard bad things about them. I don’t want to part with large amounts of cash in return for a pitiful income.

However, I see in the news that annuity rates are rising. Is now the time to buy one? PC, Preston Ruth Jackson-Kirby replies: For years, annuities have been a hard sell. While these pension […]

Denver Basic Income Project opens applications for participant selection

Denver Basic Income Project opens applications for participant selection

A program designed to give homeless people guaranteed income has begun to take applications. The Denver Basic Income Project, a public-private partnership that seeks to provide up to $12,000 to homeless individuals, will accept applications through Nov. 3.

The project, founded by Mark Donovan, received a $2 million investment from the Denver City Council in September and has raised just over $7 million. Its mission is to build a healthier society centered around "human thriving" by providing a path away from homelessness. It is a part of Impact Charitable, a 501c3 nonprofit organization.

With a $9 million budget, the program intends […]

Social Work Researcher Leads Groundbreaking Guaranteed Income Study in Los Angeles

Social Work Researcher Leads Groundbreaking Guaranteed Income Study in Los Angeles

Guaranteed income and its close cousin Universal Basic Income have been proposed as solutions for both social justice and economic stimulus for decades, with leading voices as disparate as Martin Luther King, Jr. and economist Milton Friedman advocating for the establishment of a guaranteed income. While some say it is a form of welfare, advocates argue that it would help to relieve dramatic socioeconomic disparities and even potentially reduce dependence on government programs. A new groundbreaking pilot program in Los Angeles, co-led by USC Suzanne Dworak-Peck School of Social Work Assistant Professor Bo-Kyung Elizabeth Kim , seeks to inform […]

Denver Basic Income Project opens applications for participant selection

Denver Basic Income Project opens applications for participant selection

Tents sit in the parking lot at First Baptist Church in Denver’s Capitol Hill neighborhood on Friday, Dec. 4, 2020. The tents, part of Denver’s first Safe Outdoor Space, housed up to 30 women and trans-identifying individuals through June 2021. (Michael Ciaglo/Special to The Denver Gazette) A program designed to give homeless people guaranteed income has begun to take applications. The Denver Basic Income Project, a public-private partnership that seeks to provide up to $12,000 to homeless individuals, will accept applications through Nov. 3.

The project, founded by Mark Donovan, received a $2 million investment from the Denver City Council […]

Madison Forward Fund provides direct assistance to low-income families News

A new initiative is providing money directly to Madisonians to support basic needs, part of an experimental, yearlong guaranteed income program.

The Madison Forward Fund was founded on the premise that families deserve a basic level of income to pay for primary needs, and that those experiencing financial scarcity are best equipped to decide where their money should be spent.

The fund totals $930,000 and is paid for entirely by private donors, not taxpayer dollars.The program received 3,000 applications from Madison residents, and 155 families were randomly selected from that applicant pool to receive monthly payments of $500 for 12 months. […]

Selected Los Angeles County youth will receive monthly grants of $1,000 for three years

Selected Los Angeles County youth will receive monthly grants of $1,000 for three years

A select group of Los Angeles County youth will receive monthly grants of $1,000 dollars for three years .

According to an announcement from Los Angeles County Supervisor Hilda Solis, launched a 3-year guaranteed income pilot program that will offer financial support to 300 eligible residents ages 18-24 .

The program was promoted by the Los Angeles County Department of Public Social Services (DPSS) .Randomly chosen teens will come out of who currently receiving employment services from Los Angeles County under the General Relief Opportunities for Work (GROW) program .“These young people have had to develop personal strength and resilience to […]

Americans eligible for $1,000 monthly direct payments for three years thanks to new program launching

Americans eligible for $1,000 monthly direct payments for three years thanks to new program launching

A NEW pilot program from Los Angeles County will provide 300 residents with $1,000 a month for three years.

The guaranteed income program is called TAYportunity and will randomly select 300 youth between 18 and 24. A recent study revealed that child poverty fell 59 percent since 1993Credit: Getty To be eligible, residents must currently receive County employment services through the General Relief Opportunities for Work Program (GROW).

Through the TAYportunity Program, GROW will provide services designed to support the youth receiving General Relief benefits.Many youths have had limited education and career opportunities and experience challenges like being unhoused or unsheltered […]

L.A. to Test $1,000 a Month Guaranteed Income Program

Payroll

A new program in Los Angeles County is offering universal basic income, with $1,000 monthly payments to a select group of young adults. By Alexandra E. Petri, Los Angeles Times (via TNS).

A new program in Los Angeles County is offering universal basic income, with $1,000 monthly payments to a select group of young adults.The Los Angeles County Department of Public Social Services introduced the pilot program, which will provide a three-year guaranteed income for about 300 people ages 18 to 24, the agency said.Recipients will be randomly selected to receive the monthly payments, according to a news release […]

LA Basic Income Program to give young adults $1,000 a month

LA Basic Income Program to give young adults $1,000 a month

LA Basic Income Program to give young adults $1,000 a month 1 A new program in Los Angeles County provides a universal basic income, with monthly payments of $1,000 to a select group of young adults.

The Los Angeles County Department of Public Human Services introduced the pilot program, which will provide guaranteed income over three years to about 300 people between the ages of 18 and 24, the agency said.

Recipients will be randomly selected to receive the monthly payments, according to a press release from LA County Supervisor Hilda Solis.Eligible individuals must currently be enrolled in the General Relief […]