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The fact that the vast majority of Americans didn't flee their 401(k)s during the bear market isn't cause for celebration. Doing nothing is not enough. If we don't all start saving more for retirement, we could all end up paying a price down the line.
"Annuity" is a dirty word in many circles, usually due to the high costs and mediocre performance of deferred annuities, or by complicated features that some insurance companies attach to immediate annuities. A simple, low-cost fixed immediate annuity is a different animal that doesn't deserve this reputation. I suggest that an immediate annuity deserves serious consideration for people who have significant retirement savings and are concerned about managing their longevity risk.
Millions of folks could find that they unexpectedly owe taxes for Tax Year 2009 as an unintended consequence of the new Making Work Pay Credit. Surprisingly the IRS may offer some of the better options for folks who need to pay their tax debts over time.
How to do the math to help you decide the right time to start your Social Security benefits, taking into account your life expectancy and Social Security's rules for increasing benefits if you delay the start date.
A new study of 401(k) returns among different age groups concludes that older Baby Boomers have had a pretty sweet ride. Cryin' rights go to younger boomers, who missed out on part of the great bull run that began in 1982 and now don't have oodles of time to make up for losses suffered in the two crashes since 2000. Gen X isn't much better off.
If you are one of the more than 15 million taxpayers who unexpectedly owe taxes for 2009, you'll be surprised to find out why. And if you can't pay your tax debt in full, read on for some payment options that may provide some relief.
This post looks at the qualitative reasons why it's smart to make your Social Security income as large as possible by delaying benefits for as long as you can (but no later than age 70).
Federal tax refunds are coming in at a record pace above $3,000. How about a few off-beat retirement-centric ideas for that mini-windfall? Perhaps you'd like to put your your kid on the path to becoming a millionaire (fund a Roth IRA). Or maybe what you really need is a vacation. Yes, I said vacation. After all, if you plan to delay your retirement for a few years you're going to need a strategy for avoiding early burnout.
It was once unthinkable that America's credit standing would be a factor in buying Treasury bonds. Not any more.
Understanding how to use both your Roth and traditional 401(k) accounts can help you lower the taxes you pay in retirement.
Wealthy German retirees were sentenced to jail this week for kidnapping their investment adviser they claimed was at fault for massive losses to their nest eggs. The kidnapping and multi-million dollar ransom demand was their second crime. Their first crime was allowing themselves to be deluded into thinking they could earn steady 12 percent returns with no risk.
Interest rates on fixed rate mortgages remain at historic low levels. But I don't think this situation will last much longer. Homeowners with mortgages with balances up to the conforming limits and fixed rates above 6 percent or an adjustable rate mortgage who ignore this opportunity, do so at their own financial risk and peril.
While working in retirement may sound like an oxymoron, it's increasingly becoming an expectation among America's workers who are realizing they just don't have the money they need to enjoy a traditional retirement. This post summarizes these trends, and then goes on to address an important question...
Our leaders are proudly proclaiming that they've "closed" the hated Medicare Part D donut hole in prescription drug coverage for seniors. Should you feel relieved? I don't think so. And here's why.
The bond feast of 2009 is continuing in 2010. Inflows into bond mutual funds are running about 4x ahead of new cash flows into stock funds. If you think gorging on bonds is a "safe" strategy right now, think again. An insatiable appetite for bonds could lead to an upset portfolio in the near future.
Lindsey Vonn came out of retirement to compete in the 2026 Milano Cortina Winter Games.
Savannah Guthrie released a new video on Saturday, saying her family is willing to pay for the safe return of their mother.
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Breezy Johnson took the lead early on after flying down the mountain in 1:36.10. It is her first-ever Olympic medal.
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Former House Speaker Nancy Pelosi plans to endorse Jack Schlossberg, John F. Kennedy's grandson, a source familiar confirmed to CBS News.
As the Seahawks prepare to face the Patriots in the 2026 Super Bowl, here's what to know about Seattle's past appearances, wins and losses.
The New England Patriots are back in the Super Bowl once again in 2026, hoping to add another ring to their list of wins. Here's a look back at their appearances, losses, how many they've won, and more.
Not sure where to watch the 2026 Super Bowl live? There are multiple ways to watch the game for free today. Here's how.
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Connor Hilton, 17, said that after taking Accutane, a prescribed acne medication, he began to have suicidal and homicidal thoughts – thoughts that, his defense argued, led him to shoot two friends in the head at his Friendswood, Texas, home. Prosecutors weren't convinced.
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Resurgent technology stocks drove the rebound after a volatile week, while bitcoin also recouped losses.
Former House Speaker Nancy Pelosi plans to endorse Jack Schlossberg, John F. Kennedy's grandson, a source familiar confirmed to CBS News.
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Skier Chris Lillis said he was "heartbroken about what's happened in the United States," while skater Amber Glenn said she "will not just be quiet."
If the June deadline is not met, the Trump administration will likely put pressure on both sides to meet it, Zelenskyy told reporters.
A federal appeals court on Friday endorsed the Trump administration's policy of holding broad groups of immigration detainees without access to bond hearings, a major legal victory for President Trump.
Becca Valle, then 37, enrolled in a cutting-edge clinical trial after surgery removed an aggressive tumor from her brain.
More than three dozen cases of death cap mushroom poisonings have been reported in California since November, health officials said.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
The Trump administration launched its new TrumpRx direct-to-consumer prescription drug listing site late Thursday, part of a push to offer medication at steep discounts.
The New Mexico Department of Health said officials believe the baby contracted listeria after their mother drank raw milk during pregnancy.
Breezy Johnson took the lead early on after flying down the mountain in 1:36.10. It is her first-ever Olympic medal.
Lindsey Vonn, who came out of retirement to compete in the 2026 Milano Cortina Winter Games, was airlifted off the mountain.
The U.S. ended Saturday in first place with 44 points. Japan was five points back going into the men's, women's and pairs free skates to decide the medals Sunday.
The U.S. women's hockey team eased to a 5-0 win over Finland on Saturday afternoon.
Francesca Lollobrigida set a new Olympic record of 3 minutes, 54.28 seconds, shaving more than two-and-a-half seconds off the mark set by Dutch legend Irene Schouten four years earlier in Beijing.
Reactions poured in when Bad Bunny was named Super Bowl halftime headliner, with some praising and others criticizing the choice.
Charlie Puth has called the national anthem "one of the most beautiful pieces of music." But he's also described it as "the hardest to sing."
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny is set to take the stage at halftime for the 2026 Super Bowl. Here's who else is performing at Super Bowl 60.
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
The FAA says it is collaborating with the FBI to detect, track and assess unauthorized drone activity at the Super Bowl.
Gamers across the world can now recreate drone strikes in Ukraine from the comfort of their own home, with this newly released game.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
CBS News business analyst Jill Schlesinger talks about how companies are using artificial intelligence, the discussion around the technology and how it's impacting the workforce.
Executives from Waymo and Tesla defended their self-driving vehicle technology in testimony before the Senate Commerce Committee on Wednesday. CBS News' Kris Van Cleave reports and Ian Krietzberg, an AI correspondent at the digital media company Puck, has more.
After decades monitoring polar bears in Norway's far north, researchers say the animals have proven incredibly adaptable, but there are no guarantees for the future.
Dark matter doesn't absorb or give off light so scientists can't study it directly. But they can observe how its gravity warps and bends the star stuff around it.
"CBS Saturday Morning" learns more about Veronika, the clever cow who figured out multiple ways to scratch herself with a broom. It was the first time a cow was seen using a tool.
"Sunday Morning" looks back at historical events on this date.
The Dinosaur National Monument, which is located on the border between Colorado and Utah, was last excavated in 1924.
Connor Hilton, 17, said that after taking Accutane, a prescribed acne medication, he began to have suicidal and homicidal thoughts – thoughts that, his defense argued, led him to shoot two friends in the head at his Friendswood, Texas, home. Prosecutors weren't convinced.
Authorities said Friday they were inspecting an apparent new message relating to the disappearance of "Today" host Savannah Guthrie's mom, Nancy, after the family reported her missing from her home on Sunday.
Luigi Mangione had an outburst after a hearing on Friday in which the judge announced that his New York State trial will begin on June 8. CBS News legal reporter Katrina Kaufman is following the case.
Local and federal authorities said "investigators are actively inspecting the information provided in the message for its authenticity" regarding the disappearance of Nancy Guthrie.
Friday marked six days since Nancy Guthrie's apparent abduction, and Guthrie's three children have been posting on social media hoping to reach whoever may have taken her. CBS News' Andres Gutierrez reports and former FBI counterintelligence operative Eric O'Neill has more.
NASA's first crewed moon mission in more than 50 years has been delayed until March at the earliest. During a routine dress rehearsal of the launch, persistent liquid hydrogen leaks were discovered in the Artemis II rocket. CBS News space consultant Bill Harwood breaks it down.
NASA plans to test the planned leak repair with a second dress rehearsal fueling test later this month.
NASA delayed the Artemis II moon rocket launch after a hydrogen leak was found during a wet dress rehearsal, the agency announced Tuesday. CBS News senior space consultant Bill Harwood has the latest.
A NASA mission is underway to map the heliosphere, which is a huge protective bubble around the solar system that was created by the sun.
NASA says it can't try until March at the earliest to send a crewed spacecraft on a flight around the moon and back, due to hydrogen leaks during testing of the Artemis II rocket.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
A Texas teenager shoots two of his friends. He says a popular acne medication made him do it. "48 Hours" correspondent Tracy Smith reports.
Ice hockey forward Hilary Knight showed the world why she's one of the greatest players ever. With her 14th goal, the captain of Team USA moved into a tie for the most goals scored by a U.S. Women's hockey player at the Winter Olympics. Andres Gutierrez reports on her career and her last Olympic run.
The countdown is on for the big game between the Seattle Seahawks and the New England Patriots. Kris Van Kleave is outside what's been called the Field of Jeans.
Saturday marked the first full day of the Olympic Winter Games in Italy. Switzerland took the first gold medal in men's downhill skiing. In all, five medal events were held, but no gold yet for Team USA. Seth Doane has the latest details from Cortina, Italy.
The political fallout in Britain following the latest Epstein documents release became so intense that on Saturday, there were growing calls for the U.K.'s prime minister to step down.