Tag: guaranteed income

Universal basic income proponent Andrew Yang says debate offers him ‘nothing but upside’

Universal basic income proponent Andrew Yang says debate offers him ‘nothing but upside’

Democratic presidential hopeful Andrew Yang speaks with reporters Wednesday outside the debate venue in Miami. Just ahead of the first Democratic presidential debate, long-shot candidate Andrew Yang is saying he’s in a “fantastic position.”

“It’s nothing but upside,” said the entrepreneur-turned-politician, who has centered his 2020 campaign on promising a guaranteed income of $1,000 a month for every American over age 18.

“No one’s going to want to take shots at the fifth- or sixth-ranked candidate on stage, and I’m just introducing myself to the American people. I feel like I have absolutely nothing to be nervous about. It’s all excitement […]

Excessive use of jargon blamed for pension savings gap

Excessive use of jargon blamed for pension savings gap

Do you know what a lifetime allowance is? If not, then you are in good company as 82% of the population cannot define this particular piece of pension jargon according to a survey. It’s not the only phrase befuddling British savers, there were many examples of pension terminology which the majority of adults admitted they did not understand when quizzed.

According to Portafina, a pensions advice specialist, only 1% of people questioned were able to define all key pension terms with which they were presented.

Other expressions which caused widespread confusion included ‘annual allowance’, ‘ drawdown ’, ‘personal pension’ and ‘final […]

I have $1 million for retirement. Should I buy an annuity?

I have $1 million for retirement. Should I buy an annuity?

Q. I have a retirement nest egg of nearly $1 million. I live off Social Security and I take distributions of about 4 percent a year, and that covers my bills. A friend said I should buy an annuity so I have guaranteed income. I hear annuities have high fees and I’m not sure what to look at. Where do I begin? I’m 69 years old and there is no mortgage on my house.

— Retired

A. You are correct most of the annuities have high fees. They’re complicated products that shouldn’t be purchased without significant research and understanding based on […]

‘Perfect storm’ blamed for scandals like London Capital Finance

'Perfect storm' blamed for scandals like London Capital Finance

Financial Conduct Authority chair Charles Randell defended the handling of the London Capital Finance case. Photo: Hannah McKay/Reuters A “perfect storm” means more and more Brits are at risk of losing their money or running into financial trouble with unsuitable investments, according to a top financial regulator.

Charles Randell, the chair of the Financial Conduct Authority (FCA), said on Tuesday that pensions de-regulation, low interest rates, and the rise of social media have left consumers vulnerable to fraudsters or high-risk investments that aren’t appropriate.

“A combination of the yield environment, the pension freedoms, and a whole load of other things means […]

What to expect at the first Democratic debates

What to expect at the first Democratic debates

Editor’s note: This story is part of PolitiFact’s ongoing coverage of the 2020 campaign. For more candidate profiles and fact-checking, go to www.politifact.com/2020/

The week of the first Democratic presidential debates has arrived, and 20 candidates will get a chance to formally showcase their policy ideas for 2020. The debates, which will take place in Miami, are split up into two nights, with 10 candidates each.

Out of 24 Democratic candidates running, all but four met the fundraising or polling threshold to participate. The Democrats who didn’t make the cut are Gov. Steve Bullock of Montana; Rep. Seth Moulton of […]

Abigail Disney and George Soros say: Tax the wealthy more

More than a dozen of the richest Americans have a message for 2020 presidential candidates: Tax us more.

In a letter sent to candidates Monday, 18 members of some of the nation’s wealthiest families advocated for a wealth tax on people who amassed great personal fortunes, including themselves.

“We are writing to call on all candidates for president, whether they are Republicans or Democrats, to support a moderate wealth tax on the fortunes of the richest one-tenth of the richest 1% of Americans — on us,” said the letter, which was first published in the New York Times Monday.It said that […]

Cheap grace socialism

Cheap grace socialism

Vermont Sen. Bernie Sanders speaks at the Poor People’s Campaign Moral Action Congress in Washington, D.C. on June 17, 2019. Free College! Guaranteed Basic Income! Medicare for All! Cancel Student Debt!

These are the attention grabbers being used by various candidates for the Democratic nomination to run for the office of President of the United States. It is not easy to get noticed in a crowded field, so the temptation to offer free stuff is stronger than ever. But until there is a serious discussion about how to pay for these programs, they are nothing more than a politician’s empty […]

Congress Wants to Make Your 401(k) More Like a Pension. Here’s the Problem With That

Congress Wants to Make Your 401(k) More Like a Pension. Here's the Problem With That

Do you wish you could transform part of your 401(k) into a pension?

A bill making its way through Congress promises to make it easier to do just that. While that’s largely good news, there are still risks, according to retirement experts. Unless additional investor protections are added to the bill, retirement savers could be exposed to costly and opaque insurance products, plus concerns about insurance companies’ financial health.

Last month the House passed the Secure Act , touted as the biggest overhaul of America’s retirement system since 2006, with overwhelming bi-partisan support. While the bill recently hit a delay in […]

Annuities: an insurance product like no other

Annuities: an insurance product like no other

According to our research, 70% of people aged 55 or over don’t know that they could qualify for a higher annuity income by providing their health and lifestyle details.

From 55, you can normally swap some, or all, of your pension with an insurance company. In return you’ll get a secure, guaranteed income for life – an annuity.

With lots of insurance products, giving health and lifestyle details usually means more paperwork and higher premiums. Let’s say a 65 year old diabetic disclosed their medical details when applying for travel insurance to cover a 10 day cruise in Spain. The price […]

Exploring Guaranteed Income Through A Racial And Gender Justice Lens

Exploring Guaranteed Income Through A Racial And Gender Justice Lens

Race- and gender-based wealth inequities are two of the greatest failures of the American economy. Economic policy choices and practices put forth by those in power, such as the GI Bill and redlining, created wealth-building opportunities for white men but established barriers for everyone else. Implemented in tandem with the rise of corporate power by which profit is revered over people, these racist policies have resulted in racial and gender economic stratification that have reached epic heights. Today, approximately 160,000 households in America own more wealth than the poorest 90 percent combined— the highest concentration of wealth since 1962 […]