Tag: guaranteed income

Pension freedoms: Innocent until proven guilty

Pension freedoms: Innocent until proven guilty

Bad news sells. And there can be a temptation to fear we’re all doomed, especially in the current Covid climate. This challenging mix can sometimes result in some people judging the pension freedoms to be a recipe for disaster. I disagree.

I believe savers should be trusted with their own money. I believe the pension freedoms are a good thing – empowering today’s retirees and motivating tomorrow’s. I believe we must scrutinise the pension freedoms, and support savers. But we must do so calmly, separating the heat from the light. I believe we must judge the pension freedoms with a […]

CEO: ‘It’s almost impossible’ to find a pension plan that provides retirement income

CEO: ‘It's almost impossible’ to find a pension plan that provides retirement income

As pension plans fade, today’s investors may want to look to annuities to bridge the retirement gap, one expert said.

“My father’s generation, a huge amount of people had a pension payout,” said John Schlifske, CEO at Northwestern Mutual, a financial firm. “Now of course, unless you’re a public sector worker, it’s almost impossible to find a pension plan that provides guaranteed income in retirement.”

At a time when the future of Social Security is uncertain, with some experts predicting reduced payouts after 2031, Schlifske said people will flock to annuities to bridge that gap. At a time when the future […]

This question hasn’t been answered yet

This question hasn't been answered yet

Question: Imagine A Country Where The Government Would Pay Each Citizen The Same Basic Income Each Month. You Could Be Employed Or Unemployed, Poor Or Wealthy – You’d Still Get The Same Amount Of Money As Other Pedple. What Effect Would This Have On The Labor Market, On People’s Happiness, And On Societal Structure As A Whole? Would People Quit Jobs They Are …

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Imagine a country where the government would pay each citizen the same basic income each month. You could be employed or unemployed, poor or wealthy – you’d still get the same amount […]

Billy Burrows: The way we advise clients will change

Billy Burrows: The way we advise clients will change

It is an understatement to say life will not be the same again, and we will have to change our behaviour in the wake of the coronavirus.

However, I think there will be some positive changes to the way in which we advise our clients: These include: More regular contact with our clients and better use of video-conferencing.

More emphasis on longer-term retirement planning — cash flow modelling, for example. Greater emphasis on risk management, especially with investments. A stronger case for securing guaranteed income — annuities or fixed-term income plans, for example. We have been pleasantly surprised by how […]

How we’re helping food and drink businesses through Lockdown 2

How we're helping food and drink businesses through Lockdown 2

Above: Hinckley county and borough councillor, Michael Mullaney

Two councillors in Hinckley have joined calls for a test run of Universal Basic Income (UBI) pilots to help people during coronavirus.

Liberal Democrat Michael Mullaney, borough and county councillor for Hinckley, Leicestershire, and Mathew Hulbert, of Barwell Parish Council, have signed a letter urging the Government to trial the policy.Councillor Mullaney said: "The more than 3,000 elected officials who have signed this letter are urging the Government to look at launching pilots for a Universal Basic Income that would ensure everyone had a guaranteed income at this difficult time."This pandemic has sadly […]

Could You Live on $18,516 in Annual Retirement Income?

Could You Live on $18,516 in Annual Retirement Income?

Most Americans count on Social Security to serve as a major source of retirement income. But while retirement benefits from the Social Security Administration will likely help you cover costs as a retiree, you can’t rely on them too much, or you could find yourself facing a lot of financial pain.

There’s one simple reason you can’t count on your monthly checks from the SSA to be enough to support you. For most people, the amount of money they provide is simply too low to maintain a reasonable standard of living. The average Social Security benefit will provide just $1,543 […]

Winter Sonata’ producer reveals how Korean dramas are made, income of top-tier stars

Winter Sonata’ producer reveals how Korean dramas are made, income of top-tier stars

Kim Hee-yeol, vice president and head of drama production of top Korean drama company Pan Entertainment, revealed that “special grade” or top-tier Korean stars can earn a guaranteed income of 100 million to 200 million won ($89,000 to $178,000) per episode of a project.

The exec, who was the producer of the 2002 global hit drama “Winter Sonata” starring Hallyu stars Bae Yong-joon and Choi Ji-woo, discussed the “Drama Production Environment of Korea” during the webinar “The Role of K-Dramas in Sharing and Shaping Culture Beyond Borders” on Nov. 6 on YouTube that was hosted by the Korean Cultural Center […]

Pilot program to guarantee $500 monthly to families – no strings attached

Eighteen Richmond families each will receive $12,000 over two years in a pilot program testing whether a guaranteed income would make a difference in helping them achieve financial stability.

Mayor Levar M. Stoney announced the experimental Richmond Resilience Initiative on Oct. 29 that involves paying a $500 a month stipend for 24 months to the selected working families.

The city is joining with the Robins Foundation to cover the two-year cost of $216,000. The city’s share is being drawn from federal CARES Act dollars.While unidentified, the chosen families were randomly selected from clients of the city’s Office of Community Wealth Building, […]

Universal income gains traction on the right

Universal income gains traction on the right

Hand holding euro banknotes The public discussion about welfare is fraught at the best of times. Most on the right believe in individual responsibility and a small state, arguing that welfare itself creates dependence and stifles the entrepreneurial spirit needed for the economy to thrive — and indeed pay for welfare. The left meanwhile sees welfare as a way either of simply guaranteeing basic living standards to all citizens or as a step toward a more equal society , in which the state intercepts and redistributes wealth.

But the recession induced by COVID-19 and rising unemployment have meant existing models […]

Mayor Aja Brown Launches “Compton Pledge” Guaranteed Income Initiative Residents to Receive Recurring, Direct Cash Payments

Mayor Aja Brown Launches “Compton Pledge” Guaranteed Income Initiative Residents to Receive Recurring, Direct Cash Payments

Compton Mayor Aja Brown (Courtesy Photo) Compton Mayor Aja Brown announced The Compton Pledge, a landmark guaranteed income initiative that will distribute recurring, direct cash relief to approximately 800 low-income residents for two years, starting in late 2020. Among city-led guaranteed income initiatives in the United States, the Compton Pledge will be the largest pilot, and is intentionally designed to challenge the racial and economic injustice plaguing both welfare programs and economic systems. It plans to reach irregularly or informally employed residents, immigrants of varied legal status, and the formerly incarcerated.

The ​Compton Pledge​ is led by Mayor Aja Brown […]