The struggle for financial reform became more interesting this week as an association representing financial planners accused an insurance industry lobbying organization of trying to kill the adoption of a fiduciary standard for individual investors. In a petition signed by thousands of financial planners, the Financial Planning Coalition said the
A new study examining the income sources for Americans over age 65 shows more people are relying on Social Security for their retirement income, while income from jobs has remained consistent since 1962, according to a new study by the Social Security Administration. The study found that 38% of Americans
The current long recession is changing American spending behavior. Based on Bureau of Labor Statistics data from 2007 and 2010, Americans have reduced expenditures on luxury items (restaurants and clothes) and more on essentials (healthcare, fuel.) The data shows that consumer spending by family unit declined by 3% to $48,109,
The housing fraud shockwaves that broke the U.S. banking system and had a ripple effect worldwide is going unchecked because it is part of the unofficial policy of U.S. regulators. According to Professor William Black, Associate Professor of Economics and Law at the University of Missouri, in Kansas City, U.S.
Wage-based incomes continue to decline, according to the U.S. Commerce Department’s April 2011 report. Using data from February 2011, the report found that wages, benefits and salaries accounted for 75% of total personal income in 1970. This fell to 67% in 2005 and to 64% in 2010. At the same
While the 401(k) movement has been going strong for the past 30-plus years, it now looks like the investment managers who were administering the funds and providing the advice have been engaged in a conflict of interest with their company plan counterparts. At least that is what the U.S. Department