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How much income will I need in retirement? During an average retirement you'll need 70-80 percent of your pre-retirement income to maintain the standard of living you enjoy while working, according to most estimates. You don't need to reproduce your full paycheck, according to this thinking, beca...
As you stare at the smoking ruin of your 401(k), the collapsed value of your home and the massive deficits facing Social Security, it's pretty clear what you have to do to have any hope of retiring with dignity. Work a few more years. Call it quits at 66, say, instead of 62. The math is surprisingly...
Tucked into the Obama financial reform package is a proposal to automatically enroll employees in IRAs if their employer doesn't have a retirement plan. It's a good initial idea, but it can be improved by equalizing the IRA and 401(k) contribution limits and removing the employer mandate from the plan.
Lately, I've gotten a number of questions from people who are frustrated by the low returns on their cash holdings. Getting 0.30% in a money market fund or in a short term CD isn't that exciting. So there's a temptation to seek higher returns on cash, but that could open you up to some surprising outcomes.
Maybe you didn't have a very good 2008. I sure didn't, and neither did a lot of people, including auto workers, journalists, realtors, bankers, manufacturers and importers and exporters. But financial advisers did just great. In a survey, they reported their income went up to up to $215,345, on a...
I've seen a number of recent articles trashing the 401(k) as a retirement savings vehicle. Clearly, there are problems with how effectively people use 401(k)s. But advocating for more company pensions or lifetime income annuities from insurance companies won't take the risk out of saving for retirement. In fact, these options may create bigger risks that you can't control.
The giant nonprofit offers multiple financial products, but are they any good? First under the microscope: AARP's $202 million mutual-fund family.
If you're like most investors, your 401(k) plan has probably taken a beating over the last 18 months. Maybe the problem is the people managing your mutual funds just aren't that smart. If you used smarter people, you should get better results. Right?
MoneyWatch's Jill Schlesinger does the math for you -- and explains how you can protect against unpleasant surprises.
As a sendoff into the 4th of July holiday, June's rise in unemployment to 9.5% was plenty discouraging. The gloom was pretty well crystallized in this New York Times op-ed by Bob Herbert, which quoted the Center for Labor Market Studies at Northeastern University in Boston, as saying that if you mea...
With workers stressing over their retirement plan balances, more people are calling for a return to some form of traditional employer sponsored pension or lifetime income guarantee. Let me break this to you gently: it's not going to happen. While policy wonks and commentators may debate it, the vast majority of employers have no stomach for it. You need to accept that your retirement is your responsibility, and plan accordingly.
President Obama recently proposed creating a new Consumer Financial Protection Agency to help protect consumers from aggressive financial transactions. I don't know whether we need another federal agency, but what I can tell you is that the basic rule for personal finance is simpler is better. When transactions get complicated, you're probably reaching for something you can't afford or someone is pushing you into a high cost product. Either way, it's generally a bad deal.
One of the more chilling revelations on the sorry state of the U.S retirement system is this survey of employer attitudes towards 401(k)s from Mercer, the benefits consulting firm. Half of employers offering 401(k) plans believe that the plans are not up to the job that's been thrust upon them--that...
Yes, it's possible — if you make a few smart moves while you're working and reconsider where you'll live once you stop.
As the default retirement plan of the United States, the 401(k) falls short, argues CBS MoneyWatch.com editor-in-chief Eric Schurenberg. He tells Jill Schlesinger why the plans don't work.
"When we gaslight and contradict what the public can plainly see with their own eyes, we lose all credibility," one DHS official said.
ICE's Homeland Security Investigations unit is leading the probe of the fatal shooting of Alex Pretti by a Border Patrol officer.
A growing number of Republicans, including some Trump allies, are questioning or criticizing the Trump administration's response to the killing of Alex Pretti.
Bystander videos verified by CBS News show the scene from multiple angles before and during the fatal shooting of 37-year-old Alex Pretti in Minneapolis.
Border Patrol commander Gregory Bovino and some of his agents are expected to soon leave the Minneapolis area, two sources tell CBS News.
Two U.S. officials tell CBS News some of the Border Patrol agents involved in the fatal shooting of Alex Pretti in Minneapolis had body cameras. Also on Monday, President Trump and Gov. Walz both confirmed they are in conversation about scaling down the federal surge in Minnesota.
The police in Bangor, Maine, said all six people on a private business jet are presumed dead after the plane crashed in a snowstorm at Bangor International Airport.
Federal agents shot and killed a Minnesota ICU nurse in south Minneapolis on Saturday.
President Trump is hiking tariffs on imports from South Korea, saying its government has reneged on an agreement to approve a bilateral trade deal.
The AAP is recommending immunization against 18 diseases. Earlier this month, the CDC reduced its recommendations for childhood vaccines to 11 diseases.
Canada's last captive whales have received a reprieve from death after the Canadian government conditionally approved a plan to export them to the U.S.
President Trump is hiking tariffs on imports from South Korea, saying its government has reneged on an agreement to approve a bilateral trade deal.
A handful of U.S. states are moving to ease the cost of Affordable Care Act insurance as millions of Americans see their premiums spike.
Olympic veterans, including skier Lindsey Vonn and bobsledders Kaillie Humphries and Elana Meyers Taylor, are among the seven Americans making their fifth trips to the games.
President Trump is hiking tariffs on imports from South Korea, saying its government has reneged on an agreement to approve a bilateral trade deal.
A handful of U.S. states are moving to ease the cost of Affordable Care Act insurance as millions of Americans see their premiums spike.
The IRS started accepting tax returns on Jan. 26. Here's everything you need to know about getting your tax refund.
This weekend's snowstorm could prove to be lucrative for some online bettors.
Class-action lawsuit alleged that Google's voice assistant illegally recorded and shared private conversations with advertisers.
The AAP is recommending immunization against 18 diseases. Earlier this month, the CDC reduced its recommendations for childhood vaccines to 11 diseases.
CBS News California analyzed a decade of state audits and found that lawmakers failed to enact three out of every four state audit recommendations. Year after year, the auditor tracks the same problems, the same risks, and the same inaction, costing California billions.
A growing number of Republicans, including some Trump allies, are questioning or criticizing the Trump administration's response to the killing of Alex Pretti.
ICE's Homeland Security Investigations unit is leading the probe of the fatal shooting of Alex Pretti by a Border Patrol officer.
President Trump is hiking tariffs on imports from South Korea, saying its government has reneged on an agreement to approve a bilateral trade deal.
The AAP is recommending immunization against 18 diseases. Earlier this month, the CDC reduced its recommendations for childhood vaccines to 11 diseases.
The American Academy of Pediatrics released its own recommendations for childhood vaccinations Monday. The list differs significantly from the reduced vaccine schedule released earlier this month by the CDC. Dr. Amanda Kravitz, pediatrician at Weill Cornell in New York City, joins CBS News to discuss.
Cardiologists say shoveling snow can increase a person's risk of experiencing a heart attack.
Cassandra King was thrilled to be pregnant after years of fertility struggles and multiple miscarriages. Then a sudden cardiac event threatened everything.
After a year of ongoing measles outbreaks that have sickened more than 2,400 people, the United States is poised to lose its status as a measles-free country.
Canada's last captive whales have received a reprieve from death after the Canadian government conditionally approved a plan to export them to the U.S.
Olympic veterans, including skier Lindsey Vonn and bobsledders Kaillie Humphries and Elana Meyers Taylor, are among the seven Americans making their fifth trips to the games.
Dennis Coyle, 64, was abducted from his Kabul apartment last year and has been held in near-solitary confinement by the Taliban.
As the European Union announces an investigation, the Grok chatbot tells CBS News, "Yes, tools like me should face meaningful regulation."
Jay Vine was knocked from his bike when two large kangaroos bounced onto the road on a high speed section.
In a full-page ad in the Wall Street Journal, Ye, the artist formerly known as Kanye West, revealed that the right frontal lobe of his brain was injured in a car accident 25 years ago.
After more than 40 years, the Sundance Film Festival is leaving its longtime host of Park City, Utah, and heading to Boulder, Colorado. Sarah Horbacewicz reports.
As the face of Revlon, Lauren Hutton – called a "believable beauty" – became the highest-paid model in history, and still holds the record for most cover appearances on American Vogue. She talks about her adventurous life of no regrets.
She didn't set out to be a model, or an actress, and several agencies rejected the gap-toothed Lauren Hutton, before Eileen Ford gave her a shot. As the face of Revlon, Hutton became the highest-paid model in history, and still holds the record for most cover appearances on American Vogue. She talks with Anthony Mason about her adventurous life of no regrets – from living among the bushmen of the Kalahari, to a near-fatal motorcycle accident in 2000. Even of the low points she says, "I'd do it again in a second."
"Sunday Morning" remembers some of the notable figures who left us this week, including the iconic Italian fashion designer Valentino Garavani.
Class-action lawsuit alleged that Google's voice assistant illegally recorded and shared private conversations with advertisers.
As the European Union announces an investigation, the Grok chatbot tells CBS News, "Yes, tools like me should face meaningful regulation."
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.
Microsoft services were down for thousands of users, according to tracking service Downdetector.
Snapchat's parent company, Snap Inc., settled a lawsuit surrounding allegations of social media addiction burdening users. CBS News' Shanelle Kaul reports.
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.
Have you ever wondered if your dog is eavesdropping on you? A new study published in the Journal of Science found that some dogs are not only listening, but are also learning words. Lead scientist Dr. Shany Dror joins CBS News to discuss.
Gov. Tim Walz says that he and President Trump shared a "productive" phone call Monday morning, during which he says the president agreed to consider a reduction of federal immigration enforcement forces in Minnesota.
Police were assisted by the navy and air force, as well as the U.K. and U..S authorities, in difficult weather conditions.
Homeland Secretary Kristi Noem claimed Alex Pretti attacked Border Patrol officers before he was fatally shot in Minneapolis, Minnesota. This comes as more Trump administration officials react to the incident. CBS News' Lana Zak and Natalie Brand report.
Political strategists Kristian Ramos and Rina Shah join CBS News with their reactions to Border Patrol killing Alex Pretti in Minneapolis, Minnesota.
The federal government's accounts of the most recent shooting in Minneapolis, Minnesota, involving immigration officials, appear to clash with evidence emerging. CBS News' Lana Zak has more.
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.
Virgin Galactic is sending an all-female research team to space. Kellie Gerardi, who is leading the crew, joins "CBS News 24/7 Mornings" to discuss the goals of the mission.
Inch by inch, NASA's Artemis II moon rocket lumbered along its four-mile commute from the Vehicle Assembly Building to launch pad 39-B. Mark Strassmann is at the Kennedy Space Center in Florida with more.
Four Artemis II astronauts plan to fly around the moon and back next month, traveling farther from Earth than any humans before them.
NASA is beginning its rollout of its Space Launch System rocket and Orion spacecraft as preparations for the Artemis II mission enter their final stage.
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.
This weekend's severe winter storm is still causing issues for major airports around the country. CBS News national correspondent Dave Malkoff shows how crews at Charlotte Douglas International Airport de-ice planes.
The federal government is exclusively handling the investigation into the shooting death of 37-year-old Alex Pretti in Minneapolis by an immigration officer. Amy Sweasy, adjunct professor of law at the University of Minnesota, joins with analysis.
This past weekend's winter storm dropped record amounts of snow across the country. In Mississippi, Gov. Tate Reeves has confirmed two weather-related deaths. CBS News reporter Kati Weis has the details from Oxford.
Saturday's fatal shooting in Minneapolis is the latest flashpoint after weeks of tension in the city. CBS News' Lindsey Reiser breaks down the major moments leading up to the incident.
Alex Pretti, the 37-year-old U.S. citizen killed by immigration officials in Minneapolis, was licensed to carry a gun. Still, there's no video of him ever holding his firearm during the interaction with federal agents. The White House, though, claims the gun itself was a factor. CBS News legal contributor Jessica Levinson joins with analysis.