Personal Finance

Retirees Fear Running Out Of Money— But Advisors Say A Different Risk Could Cost You Your Best Years

Tanya Rawat — Tue, 09 Jun 2026 09:45:20 +0000

Many retirees spend years worrying about running out of money. But financial advisors say another risk often goes unnoticed. Some retirees spend too little and fail to fully enjoy retirement.

"Overspending is risky. But underspending is risky too," financial advisor Zach Teutsch told CNBC, arguing that some retirees become so focused on preserving their savings that they miss opportunities to enjoy the money they spent decades accumulating.

According to a recent study by the Employee Benefit Research Institute, about one-third of retirees still had 100% or more of their original retirement assets remaining by their mid-80s. Craig Copeland, the institute’s director of wealth benefits research, said the findings suggest many retirees may be overly conservative with their spending.

"When you see so many people into their 80s still at 100%, you see people who are being way too conservative," Copeland said, according to CNBC.

However, the report also found evidence of significant asset drawdown among some retirees. According to EBRI data, about 20% of retirees who entered retirement with more than $500,000 in assets had less than 20% of their original savings remaining by their mid-80s.

Underspending Risk

Copeland said retirement spending remains one of the most difficult financial decisions because retirees do not know how long they will live or what future market returns will look like. He also noted that many people spend decades saving money and struggle to shift into a ...

Full story available on Benzinga.com

Elizabeth Warren, 60 Democrats Urge Trump To Cancel Student Debt For Eligible Borrowers Ahead Of July Changes

Tanya Rawat — Mon, 08 Jun 2026 10:59:47 +0000

More than 60 Democratic lawmakers, led by Sen. Elizabeth Warren (D-Mass.), urged Education Secretary Linda McMahon on Sunday to provide student debt relief to eligible borrowers and halt plans to transfer defaulted student-loan accounts to the Treasury Department.

The lawmakers called on the administration to cancel debt for borrowers who already qualify for existing federal relief programs, including Public Service Loan Forgiveness, Total and Permanent Disability discharge and borrower defense to repayment, Business Insider reported. They also requested faster processing of income-driven repayment applications.

The lawmakers said 7.7 million borrowers were in default at the end of 2025, while another 3 million were delinquent. They argued that recent student-loan policy changes could push more borrowers into financial distress.

“The Trump administration’s failure to meaningfully address the default crisis has raised Americans’ costs and tanked borrowers’ ability to access credit,” the lawmakers wrote, according to the report.

“It is unacceptable that debt cancellation that borrowers are legally entitled to has been delayed and denied,” they added.

data-variant="card"
data-news-mode="manual"

Americans Got Less Than Half Of Financial Literacy Questions Right — The Worst Score Ever Recorded: Survey

Justin Giles — Sun, 07 Jun 2026 17:31:15 +0000

Last week, we discussed Gallup's finding that affordability — for the fifth year in a row — remains Americans' top financial concern and that a growing number of households feel their financial situation is deteriorating.

Inflation and rising costs are certainly part of the story, but they may not be the entire reason. A new study from TIAA Institute suggests another factor is contributing to that growing anxiety: Americans are becoming less financially literate.

The results showed that, out of 28 questions, only 47% were answered correctly — the lowest level ever recorded since the survey began more than a decade ago. Even more notable, one-quarter of adults now fall into the category ...
Full story available on Benzinga.com

Think The Cash In Your Brokerage Account Is FDIC-Insured? Think Again

Peace Longe — Fri, 05 Jun 2026 15:32:44 +0000

Most investors treat the cash balance in a brokerage account the way they treat money in a checking account, assuming a federal backstop sits quietly underneath it. The reality is messier, and the gap can bite when a firm fails or when your yield quietly disappears.

The protection behind a bank deposit and the protection behind a brokerage balance come from two different systems with two different rulebooks. Knowing which one is guarding your idle cash is the difference between a clean recovery and a slower, capped one.

What FDIC Insurance Actually Covers

The Federal Deposit Insurance Corporation is a U.S. government agency that protects deposits at member banks. Coverage runs to $250,000 per depositor, per insured bank, for each ownership category.

That shield applies to checking accounts, savings accounts, money market deposit accounts, and certificates of deposit. It does not stretch to anything you buy or hold through a brokerage, which is exactly where the confusion starts.

What SIPC Covers, And What It Does Not

Brokerage accounts sit under a separate system run by the Securities Investor Protection Corporation. SIPC is a nonprofit created by Congress in 1970, funded by its member firms rather than taxpayers, so it carries no government guarantee.

The coverage caps are different from the bank side too. SIPC protection reaches $500,000 per customer at a failed firm, and within that total only $250,000 can be applied to cash.

The sharper point is the one investors miss most often. SIPC steps in when a brokerage collapses and customer assets go missing, but it never reimburses a loss caused by the market falling.

If your stocks drop 30%, no insurance covers that, because price risk is simply the cost of investing. SIPC exists for the failure of the custodian holding your assets, not the failure of the assets you chose.

The Cash Sweep Is Where The Confusion Begins

Here is the mechanism that quietly links the two systems. When you leave cash uninvested, most brokers automatically move it through a “cash sweep,” sending the balance into either a partner bank or a money ...
Full story available on Benzinga.com

More Sellers Are Pulling Homes Off The Market Across US As They Get Used To The 'Post-Pandemic Normal,' Redfin Data Shows

Tanya Rawat — Thu, 04 Jun 2026 11:14:50 +0000

More U.S. homeowners are pulling their properties off the market as buyers push back against high prices and gain greater negotiating power.

A Redfin report published Wednesday found that 5.8% of all U.S. home listings were delisted in April, tying December 2025 for the highest level since March 2020, when the pandemic disrupted the housing market. Delistings rose 3.8% month over month on a seasonally adjusted basis.

The report points to a growing disconnect between seller expectations and buyer demand. Many homeowners still want to sell, but only if they can secure the price they believe their property is worth.

"Sellers are still getting used to the post-pandemic normal," said Patricia Ammann, a Redfin Premier agent in Arlington, Virginia. "Buyers know they have negotiating power, often offering under the asking price and completing inspections, but some sellers just won't budge."

data-variant="card"
data-news-mode="manual"
>

Read Also:

Elon Musk's SpaceX ...
Full story available on Benzinga.com

Trump Accounts Aren't Just About The Free $1,000. Experts See A Bigger Roth IRA Opportunity.

Tanya Rawat — Thu, 04 Jun 2026 09:40:21 +0000

Financial planners say Trump Accounts could give children a new way to build tax-free retirement savings through Roth IRAs, creating what one tax attorney described as a “legal backdoor” that was previously unavailable to most minors.

In a CNBC report published Wednesday, Adam Bergman, founder of IRA Financial, said the structure of Trump Accounts allows children to begin building retirement assets even without earned income, a requirement that normally prevents most minors from contributing to a Roth IRA.

“Trump Accounts create a legal backdoor into a Roth IRA that does not require a child to have earned income, something that was simply not possible before,” Bergman said.

Trump Accounts, also known as 530A accounts, are tax-advantaged investment accounts for children created under President Donald Trump‘s One Big Beautiful Bill Act. Eligible children can receive a $1,000 government-funded contribution, while families, employers and other contributors can add money over time.

data-variant="card"
data-news-mode="manual"
>

Read ...
Full story available on Benzinga.com

Social Security Paper Checks Ending: What Retirees Need To Know In 2026

Tanya Rawat — Wed, 03 Jun 2026 10:26:23 +0000

Some Americans who still receive Social Security benefits by paper check will need to switch to electronic payments as the federal government completes its move away from paper-based disbursements.

The Social Security Administration (SSA) said in a blog post published Tuesday that it plans to fully transition beneficiaries to electronic payments this year. The change follows Executive Order 14247, signed by President Donald Trump in 2025, which directed federal agencies to modernize payments and move away from paper checks where permitted by law.

The policy affects Social Security benefits as well as certain federal payments issued by the Department of Veterans Affairs and the Internal Revenue Service.

data-variant="card"
data-news-mode="manual"
>

Read Also:

NY AG Letitia James Sues Trump Admin Over TotalEnergies Deal, Calls It A 'Sham' That Destroys Union Jobs

How The Change Works

The agency said beneficiaries who still receive paper checks should switch to direct ...
Full story available on Benzinga.com

Still Waiting On Your Tax Refund? The IRS Says Relief May Be Coming This Month

Tanya Rawat — Wed, 03 Jun 2026 09:32:42 +0000

Some taxpayers who are still waiting for their federal tax refunds could finally receive their money this month, even though the 2025 tax filing season ended weeks ago.

The Internal Revenue Service generally issues refunds within about 21 days for electronically filed returns. Paper returns can take longer, while amended returns and filing corrections may further delay processing. As a result, most taxpayers who filed by the April 15 deadline should have already received their refunds.

However, two groups of taxpayers are more likely to receive refunds in June: those who filed later due to extensions and those whose refunds were delayed because of missing banking information.

Delayed Filers

Many taxpayers received additional time to file because of disaster-related IRS extensions.

For example, taxpayers affected by storms, flooding and the remnants of Typhoon Halong in parts of Alaska had until May 1, 2026, to file certain returns and make payments. Similar extensions were granted to some taxpayers in Montana and Washington state following severe weather events. Additional filing relief also remains available for certain residents in Mississippi, Hawaii and Georgia.

Taxpayers who filed under these extended deadlines may still be waiting for refunds because their returns were submitted weeks after the standard April 15 filing deadline.

Another group that may receive refunds in June includes taxpayers whose refunds were temporarily ...
Full story available on Benzinga.com

Millions Could Be Affected As CMS Rolls Out Strict New Medicaid Work Requirements— Here's What To Know

Tanya Rawat — Tue, 02 Jun 2026 11:31:03 +0000

The Centers for Medicare & Medicaid Services (CMS) on Monday issued an interim final rule detailing how states must implement new Medicaid work requirements that will take effect beginning Jan. 1, 2027.

Under the rule, certain Medicaid recipients will be required to complete at least 80 hours per month of qualifying work, education, community service or other approved activities to maintain eligibility. States generally must implement the requirement no later than Jan. 1, 2027.

According to Reuters, CMS Administrator Mehmet Oz said some beneficiaries were “crowding out programs that were originally designed for those truly in need.” Oz said the initiative aims to move able-bodied enrollees into employer-sponsored health plans and “free up critical space in the program for our most vulnerable populations.”

The requirement applies to certain non-pregnant adults ages 19 to 64 who are enrolled in Medicaid expansion coverage or certain Section 1115 demonstration programs.

How The Rule Works

CMS said affected beneficiaries may satisfy the requirement through employment, community service, participation in work programs, educational enrollment or a combination of qualifying activities totaling 80 hours per month. Individuals may also qualify by earning at least 80 times ...
Full story available on Benzinga.com

Trump Tariff Change Could Make Air Conditioner Repairs, Replacements More Expensive Just As Summer Heat Arrives

Tanya Rawat — Mon, 01 Jun 2026 12:22:19 +0000

Americans could pay more to repair or replace their air conditioners this summer after a Trump administration tariff change increased costs across parts of the HVAC supply chain.

Industry groups cited in TheStreet report warned that revised Section 232 rules, a trade measure that allows tariffs on imports deemed important to national security, could push up prices for heating and cooling equipment imported into the U.S. just as peak cooling season begins.

According to TheStreet, the change removed a long-standing exemption that previously excluded certain U.S.-origin steel and aluminum contained in imported products from tariff calculations. Industry groups cited by the publication said the revision could raise the cost of heating and cooling equipment imported from Mexico, a major supplier of HVAC systems to the United States.

The Air Conditioning Contractors of America (ACCA) warned in April that the change could significantly increase equipment costs for contractors and customers. Distributor group HARDI said some Mexican-built HVAC equipment that previously faced an effective tariff exposure of roughly 8% could now face costs approaching 25% of a unit’s value.

Manufacturers have already begun adjusting prices. Lennox International Inc. (NYSE:LII) announced price increases on certain equipment and parts, while WaterFurnace International also raised residential ...
Full story available on Benzinga.com

Worst US Wheat Crop Since 1972 Could Push Grocery Prices Higher, Experts Warn

Tanya Rawat — Mon, 01 Jun 2026 10:36:59 +0000

Americans could face higher grocery prices later this year as drought, rising input costs and crop disease weigh on what is shaping up to be the weakest U.S. wheat harvest in decades.

According to the U.S. Department of Agriculture‘s May Crop Production report, total U.S. wheat production is projected at 1.56 billion bushels in 2026, down 21% from a year earlier and the lowest level since 1972.

The decline follows a difficult growing season marked by drought conditions, sharp temperature swings, elevated fertilizer and diesel costs and multiple wheat-related diseases.

data-variant="card"
data-news-mode="manual"
>

Read Also:

Americans Are Fleeing High-Tax States—Here's Where They're Moving And Why

Wheat Production Hits Multi-Decade Low

According to a report by The Hill, Todd Hubbs, a crop marketing specialist at Oklahoma State University Extension, said Hard Red Winter wheat production is forecast at 515 million bushels, which would be the ...
Full story available on Benzinga.com

Americans Are Fleeing High-Tax States—Here's Where They're Moving And Why

Tanya Rawat — Mon, 01 Jun 2026 09:31:27 +0000

Americans are continuing to relocate from higher-tax states to lower-cost regions, particularly across the South and Sun Belt.

According to a Fox Business report citing recent Census Bureau migration data, states with lighter tax burdens and lower living costs have continued to attract residents, businesses, and investment. In contrast, several higher-tax coastal states have experienced ongoing domestic outmigration.

Census Bureau government finance data show significant differences in state and local tax collections across states, with New York, Connecticut and New Jersey among the highest on a per-resident basis and Tennessee, Mississippi and Alabama among the lowest.

data-variant="card"
data-news-mode="manual"
>

Read Also:

Trump's Big Beautiful Bill Has A Student Loan Clause That Could Affect You: Here's What You Should Know About The July 1 Deadline

Affordability Drives Migration

The migration trend comes as affordability remains a growing concern for many Americans. A recent ...
Full story available on Benzinga.com

Trump's Big Beautiful Bill Has A Student Loan Clause That Could Affect You: Here's What You Should Know About The July 1 Deadline

Tanya Rawat — Mon, 01 Jun 2026 06:48:30 +0000

Student loan borrowers who take out new federal loans or consolidate existing debt after July 1 could face fewer repayment and loan-forgiveness options under changes enacted through President Donald Trump‘s One Big Beautiful Bill Act.

Financial planners and student loan experts told CNBC that even small amounts of new federal borrowing could have significant consequences for borrowers seeking to preserve existing repayment and forgiveness benefits.

Borrowers who take out a Direct Loan, including a Direct Consolidation Loan, first disbursed on or after July 1, 2026, will generally have access only to the Repayment Assistance Plan and the Tiered Standard Plan across their Direct Loans, according to Federal Student Aid guidance. Existing borrowers who avoid new borrowing may retain access to older repayment plans, including Income-Based Repayment.

data-variant="card"
data-news-mode="manual"
>

Read Also:

Nvidia Has Become An 'Infrastructure Company': Jensen Huang Shows Off RTX Spark Superchip, Vera CPU And AI Factory Vision At Computex 2026

New Borrowing Triggers New Rules

Kathleen Boyd, founder of Student Loan Savvy, told CNBC the changes are “really high stakes stuff” because even small amounts ...
Full story available on Benzinga.com

Gallup Poll Shatters 25-Year Record — Here's Americans' No. 1 Financial Concern

Justin Giles — Sun, 31 May 2026 16:01:23 +0000

A few weeks ago, we highlighted the growing disconnect between how consumers feel about the economy and how they continue to behave financially. Gallup's annual economy and personal finance survey adds another layer to that story.

Even with inflation well below its 2022 peak, affordability — for the fifth consecutive year — remains the dominant financial concern for American households. Rising prices were still the most-cited issue in the survey, while concerns about energy costs surged to their highest level since 2008. Most notably, 55% of Americans now say their financial situation is getting worse — the highest reading the poll has recorded outside of periods surrounding the Great Recession.

What's interesting is that many of these households are not necessarily in immediate financial distress. Instead, consumers appear worn down by several consecutive years of persistent cost increases ...
Full story available on Benzinga.com

Las Vegas-Based Investment Manager Receives Top Performance Ratings from Morningstar(r)

PR.com — Sat, 30 May 2026 12:33:31 +0000

Winans Investments is the first investment firm based in Las Vegas to receive receive "5 Star" rankings from the prestigious global rating firm Morningstar(r). This helps establish Las Vegas as a growing financial service center.

Las Vegas, NV May 30, 2026 --(PR.com)-- Winans Investments, an independent investment management firm based in Las Vegas, has received "5 Star" rankings from the prestigious global rating firm Morningstar(r).

With over 11,000 advisor-managed ...
Full story available on Benzinga.com