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Trump threatens to ‘obliterate' Iran's power plants if Strait of Hormuz does not open The Washington PostLive updates: Iran war news; Trump threatens to ‘obliterate' Iran's power plants CNNTrump threatens attacks on Iranian power plants if Tehran fails to open the Strait of Hormuz Boston.comA Look at the Escalating Battle for the Strait of Hormuz The New York TimesTrump a
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The 94-year-old still has time to defend his belief that the wealthy have an obligation to make society better.
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Trump touted bigger tax refunds this year, but Americans will likely spend them on gas AP News'Almost exactly offsetting the boost': Higher gasoline prices this year could wipe out tax refunds from Trump's One Big Beautiful Bill Act FortuneYour tax refund is likely bigger this year. But Trump's war with Iran could take a bite out of it CNNIran war threatens to erase the economic bump from bigger tax refunds NBC News
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Aftermath of Iranian missile strikes near Israel's nuclear facility Al JazeeraKatz says Israel will send Iran back decades if it keeps hitting cities The Times of IsraelIran attacks near Israeli nuclear site, fires long-range missiles for first time ReutersIranian Missile Attacks on Israel Intensify, Leaving Dozens Hurt Bloomberg.com
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A lot of retirement guidance I have read lately continues to treat baby boomers the same as the rest of the investor public. Even after the first six months of 2022, when the traditional 60/40 stock/bond portfolio sank more than 20%.
I may not dispute the traditional approach for investors who are 25, 35 or 45 years old and accumulating savings for retirement or the kids' college education. As we know, markets historically rebound, and younger investors with time to recover from market corrections have the benefit of dollar cost averaging.
SEE MORE Find Out in 5 Minutes If You Have Enough to Retire
But boomers entering or already in retirement have different needs than all the "Gens" that have come after them: They may not be able to wait around for their depressed accounts to grow again. For boomers, income is the important consideration — income that stays steady and grows over the decades of retirement.
Where to find income
Economic downturns always provide winners along with the many losers, and annuity payment contracts (also called income annuities) — which with rising interest rates have increased the payouts on new contracts — are the current winners. As of August 15, 2022, new purchases of income annuities at certain ages are providing 20% to 50% (depending on the income start age) more than at the beginning of the year, and that could go up even further. They're almost the mirror image of mortgage interest rates, which are also going up.
How much do you think a 20% increase in annuity payments is worth? Just imagine that your starting Social Security benefit you could claim next year went up from $3,000 to $3,600 per month. Would that get your attention
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