U.S. gets a C+ in retirement, on par with Kazakhstan and Colombia
The nation's system of Social Security and private savings leaves Americans less secure in retirement than residents of many other nations, a new study finds.
401k
IRS catch-up contribution mandate delayed
Last week, the IRS announced it is delaying until 2026 a mandate that says people 50 and older with high incomes are required to put "catch-up contributions" into Roth-style retirement accounts using post-tax dollars. Richard Rubin, a U.S. tax policy reporter for the Wall Street Journal, joined CBS News to discuss the delay in enforcement of the law, originally set to take effect next year.
Disparity in access to retirement plans
A new study by the Economic Innovation Group has found more than a quarter of Americans 59 and older don't have any retirement savings, and more than half of U.S. workers don't have access to employer-sponsored retirement funds. Benjamin Glasner, associate economist with the Economic Innovation Group, joined CBS News to discuss the study's conclusions.
Half of Americans lack a retirement plan. Here are the worst states.
States with many workers without retirement savings are likely to face a spike in senior poverty, researchers say.
Millions of older workers are nearing retirement with nothing saved
Over the next few years, the U.S. could see a surge in seniors living in poverty, one retirement expert predicts.
How much money do you need to retire? Americans have a magic number.
People say they need more money than ever to retire comfortably, but most employees are far from reaching their financial goal.
Millions to lose popular 401(k) tax break
The loss of a popular tax deduction next year could reshape how millions of Americans save for retirement. Currently, people ages 50 and older are allowed to place "catch-up contributions" totaling up to $30,000 in their 401(k) accounts. But beginning in 2024, these funds will be funneled only into "after-tax" Roth accounts for people who made more than $145,000 the previous year. For more on this, CBS News was joined by Pratik Patel, head of family wealth strategies for integrated wealth management provider BMO Family Office.
Millions of Gen-Xers have almost nothing saved for retirement
"The American Dream of retirement is going to be a nightmare for too many Gen-Xers," one expert said.
Half of U.S. moms have no retirement savings
A recent analysis showed that half of U.S. mothers have no retirement savings compared to 30% of fathers. Elaine Quijano and Meg Oliver are joined by CBS News MoneyWatch associate managing editor Aimee Picchi to break down the data.
Expert tips on preparing for next tax season
Tax season comes to a close Tuesday. Thomas Godwin, an assistant professor of accounting at Purdue University, joins Elaine Quijano and Michael George to look ahead to next year's tax season and offer advice on how Americans can begin planning for it.
Risks of early 401(k) withdrawals
Both 401(k) withdrawals and loans can have big impacts on retirement savings. Stefanie O’Connell Rodriguez, host of Real Simple’s "Money Confidential" podcast, explains the risk and differences.
Setting money aside for emergencies
CBS News' Errol Barnett and Elaine Quijano are joined by behavioral economist and founder of Pension Plus, Shlomo Bernartzi, to discuss strategies for putting money away for the future.
Millions of Americans nearing retirement age with no savings
According to U.S. Census Bureau data, 50% of women and 47% of men between the ages of 55 and 66 have no retirement savings.
Millions nearing retirement without savings
About half of all Americans ages 55 to 66 have no retirement savings, according to U.S. Census data. Janet Shamlian examines the financial struggles many face as they near retirement in the CBS News series "Retirement Ready."
Preparing emotionally for retirement
Millions of Americans are retiring every day, and some experts say it's just as important to prepare for the change emotionally as it is financially. Janet Shamlian takes a look in this edition of "Retirement Ready."
More Americans are tapping their 401(k) plans due to hardship
More employees are tapping their nest eggs to cover financial emergencies, from medical care to avoiding eviction.
Debt ceiling: 3 ways your finances could be affected
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
Walmart isn't paying workers enough and $20 an hour is needed, says author
"We don't have time for incrementalism anymore," said author Rick Warztman.
Congress making it easier to save for retirement — here's how
Experts say new legislation will make it easier to put money away, including for millions of Americans with student loans.
Hardship withdrawals from 401(k) plans hit record high
More Americans are taking retirement savings out of their accounts due to an "an immediate and heavy financial need."
Robinhood wants to be your retirement fund, offering 1% match
Stock app dangles a matching contribution to attract customers who may not have a company-based retirement plan.
Here's how much money Americans think they need for retirement
Workers say they need 20% more than a year ago to retire, yet retirement savings are shrinking.
IRS is raising the 401(k) contribution limit by record amount
The tax agency said it is also boosting the contribution threshold for IRAs due to inflation.
How to spot a great 401(k) while you're job hunting
Not every retirement account is the same. Finding a job with a great one could mean tens of thousands of dollars more when you retire.
How to save for a secure retirement
As the economy remains uncertain, there are questions about how to best save for retirement. CBS News' Lana Zak has more on what retirement accounts could maximize your savings. Then, Harold Pollack, the Helen Ross Professor at the University of Chicago, joins Matt Pieper to discuss.
Latest News
Trump gag order in 2020 election case largely upheld by appeals court
A federal appeals court heard arguments in November over the gag order limiting what Trump can say about the 2020 election-related case filed against him in Washington, D.C.
Migrants from around the world converge on remote Arizona desert
A remote desert region along the southern border has become a makeshift international arrivals area for thousands of migrants.
Ryan O'Neal, star of "Love Story," is dead at 82
Ryan O'Neal, the Oscar-nominated star of films including "Love Story" and "Paper Moon," has died at 82.
FDA approves gene-editing treatment for sickle cell disease
Sickle cell disease affects approximately 100,000 people in the U.S., predominantly people of color.
Michigan high school shooter sentenced to life in prison without parole
The Oxford High School shooter was sentenced on Friday to life in prison without parole, more than two years after four people were killed and seven others were injured.
2 Americans charged with murder of Canadian tycoon and his partner
The bodies of Dnaiel Langlois and Dominique Marchand, who had been missing for several days, were found incinerated in a car, officials said.
Texas shooting suspect tried to escape from jail after arrest in deadly rampage
Shane James has been charged with capital murder in the wake of Tuesday's shootings in Austin and San Antonio, Texas.
The U.S. states where homeowners gained — and lost — equity in 2023
Although home prices have continued to rise across much of the U.S., homeowners in some states saw their home equity shrink.
Think twice before scanning a QR code — here's why.
More than 90 million consumers will scan a QR code this year. But the technology can also facilitate identity theft.
U.S.
More U.S.
Lobbying group overstated how much shoplifting hurt retailers
The National Retail Figure retracted an earlier estimate of the losses stores suffer at the hands of criminal rings.
Taylor Swift Eras Tour crosses billion-dollar mark, setting record
Taylor Swift's incomparable year has reached another milestone — the concert trade publication Pollstar says Swift's Eras Tour has earned more than $1 billion.
Two men plead guilty in Alabama riverboat brawl
Two white boaters on Friday pleaded guilty to harassment charges in connection with an Alabama riverfront brawl that drew national attention.
Ryan O'Neal, star of "Love Story," is dead at 82
Ryan O'Neal, the Oscar-nominated star of films including "Love Story" and "Paper Moon," has died at 82.
Amazon says scammers stole millions through phony product returns
International ring breached Amazon's internal systems and bribed its employees, the e-commerce giant alleges in lawsuit.
MoneyWatch
More MoneyWatch
Lobbying group overstated how much shoplifting hurt retailers
The National Retail Figure retracted an earlier estimate of the losses stores suffer at the hands of criminal rings.
Taylor Swift Eras Tour crosses billion-dollar mark, setting record
Taylor Swift's incomparable year has reached another milestone — the concert trade publication Pollstar says Swift's Eras Tour has earned more than $1 billion.
Amazon says scammers stole millions through phony product returns
International ring breached Amazon's internal systems and bribed its employees, the e-commerce giant alleges in lawsuit.
The U.S. states where homeowners gained — and lost — equity in 2023
Although home prices have continued to rise across much of the U.S., homeowners in some states saw their home equity shrink.
Think twice before scanning a QR code — here's why
More than 90 million consumers will scan a QR code this year. But the technology can also facilitate identity theft.
Politics
More Politics
Final big election of 2023 set for Saturday with Houston mayoral runoff
Thirty-year U.S. congressional veteran Rep. Sheila Jackson Lee is trailing longtime Texas politician John Whitmire in polls to run America's fourth-largest city.
House Republicans pressure Hunter Biden to be deposed next week
The House Oversight Committee says it will begin contempt of Congress proceedings if Hunter Biden does not appear for a deposition on Dec. 13.
Former Speaker Kevin McCarthy talks his future, support of Trump in first TV interview since announcing he'll leave Congress
In an interview to air on "CBS News Sunday Morning" December 10, the former House Speaker tells Robert Costa he is open to serving in a prospective Trump cabinet. Watch a preview.
Where the 2024 GOP presidential candidates stand on Israel, Ukraine funding
Among the most pressing questions for the 2024 presidential candidates are those about how they'd handle the conflicts between Israel and Hamas and between Ukraine and Russia.
Biden to meet UNLV president, students following mass shooting
"We join the people across the country praying for the families of those killed," President Biden said in Las Vegas.
HealthWatch
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Chronic fatigue syndrome affects millions. Here's what to know.
The CDC released the first nationally representative estimate of how many Americans have chronic fatigue syndrome. Here's what to know about causes, symptoms and treatment.
FDA approves gene-editing treatment for sickle cell disease
Sickle cell disease affects approximately 100,000 people in the U.S., predominantly people of color.
An end to breast cancer? California company develops groundbreaking vaccine with promising future
An estimated one in eight women will develop breast cancer in their lifetime, killing on average 42,000 a year in the U.S. But what if a vaccine could significantly lower each woman's chance of ever getting it in the first place?
Social Security clawbacks hit a million more people than agency said
Social Security Administration Kilolo Kijakazi omitted numbers from Supplemental Security Income program for seniors with little or no income who are blind or otherwise disabled.
CDC reports "alarming" rise in drug-resistant germs in Ukraine
Health officials say the "urgent crisis" in antibiotic resistant bacteria must be addressed, even during a war.
World
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6 teens convicted in connection with teacher's beheading in France
Samuel Paty was killed outside his school in 2020 after showing his class cartoons of the prophet of Islam during a debate on free expression.
Bright star will vanish in one-of-a-kind eclipse. Here's how to watch it.
Betelgeuse, one of the biggest and brightest stars in the night sky, will momentarily vanish as an asteroid passes in front of it to produce a one-of-a-kind eclipse.
2 Americans charged with murder of Canadian tycoon and his partner
The bodies of Daniel Langlois and Dominique Marchand, who had been missing for several days, were found incinerated in a car, officials said.
Gaza humanitarian crisis escalates as war enters 3rd month
The United Nations warned that its aid operation in Gaza is "in tatters" because no place in the besieged enclave is safe.
Israeli families mark Hanukkah as they mourn, hope for hostages' return
On the first night of the eight-day Jewish Festival of Lights, families of hostages lit a menorah in Tel Aviv with 138 branches representing hostages still in captivity.
Entertainment
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Taylor Swift Eras Tour crosses billion-dollar mark, setting record
Taylor Swift's incomparable year has reached another milestone — the concert trade publication Pollstar says Swift's Eras Tour has earned more than $1 billion.
Ryan O'Neal, star of "Love Story," is dead at 82
Ryan O'Neal, the Oscar-nominated star of films including "Love Story" and "Paper Moon," has died at 82.
Andrea Bocelli shares update after another last-minute cancellation
Andrea Bocelli has released a statement on "health challenges" affecting his world-famous voice.
Derek Hough reveals wife Hayley Erbert had emergency brain surgery
Derek Hough's wife, Hayley Erbert, was diagnosed with a cranial hematoma from a burst blood vessel, Hough said.
Norman Lear's son-in-law reflects on legendary TV producer's final moments
Norman Lear, the legendary television producer, was surrounded by his family before he died of natural causes Tuesday at his home in Los Angeles.
Technology
More Technology
Think twice before scanning a QR code — here's why
More than 90 million consumers will scan a QR code this year. But the technology can also facilitate identity theft.
Russian hackers accused of targeting U.S. intel community
The Justice Department accused Russia-based hackers of targeting U.S. intelligence officials as part of an international spear phishing campaign.
Jamie Dimon on cryptocurrency industry: "I'd close it down"
If America's most prominent banker and noted Wall Street critic Elizabeth Warren agree on one thing, it's that the crypto biz is out of control.
Apple releases urgent update to fix iOS 17 security issues
The update patches two vulnerabilities, includes no new features to the operating system.
Spotify slashes 17% of jobs in third round of cuts this year
The popular music streaming service has reportedly eliminated 1,500 roles amid slowing economic growth.
Science
More Science
Bright star will vanish in one-of-a-kind eclipse. Here's how to watch it.
Betelgeuse, one of the biggest and brightest stars in the night sky, will momentarily vanish as an asteroid passes in front of it to produce a one-of-a-kind eclipse.
Orphaned Alaskan sea otter given second chance at life in Chicago
An 8-week-old sea otter pup was found alone in Alaska before being brought to the aquarium at the end of November.
John Kerry: U.S. backs cutting fossil fuels
Special Climate Envoy John Kerry wrapped up the first week of the COP28 climate summit in Dubai by announcing the U.S. supports "largely" phasing out fossil fuels. CBS News national correspondent Dave Malkoff joins to discuss.
Climate solutions from the Arctic, the fastest-warming place on Earth
Climate change is an urgent problem in the Arctic. From renewable energy to avalanche protection, here's what we can learn from how people there are protecting their way of life.
Ndileka Mandela on climate apartheid
Developing countries are facing some of the most extreme challenges as climate change pushes them deeper into poverty. Ndileka Mandela, head of the Thembekile Mandela Foundation and granddaughter of former South African President Nelson Mandela, joined CBS News to talk about climate apartheid.
Crime
More Crime
Two men plead guilty in Alabama riverboat brawl
Two white boaters on Friday pleaded guilty to harassment charges in connection with an Alabama riverfront brawl that drew national attention.
6 teens convicted in connection with teacher's beheading in France
Samuel Paty was killed outside his school in 2020 after showing his class cartoons of the prophet of Islam during a debate on free expression.
Oxford High School shooter sentenced
The families of Michigan's Oxford High School shooting victims watched as the man who carried out the attack in 2021 was sentenced Friday to life without a possibility of parole by Oakland County Judge Kwame Rowe. CBS News legal contributor Jessica Levinson joins CBS News with more on the sentencing, and Kyla Peeples, a CBS News associate producer, reports on the hearing.
2 Americans charged with murder of Canadian tycoon and his partner
The bodies of Daniel Langlois and Dominique Marchand, who had been missing for several days, were found incinerated in a car, officials said.
Oxford shooting victim impact statements
Ethan Crumbley is awaiting his sentence for the deadly November 2021 shooting at Oxford High School in Oakland County, Michigan. Four students were killed. CBS News Detroit's Jordan Burrows is following the latest phase in the case as victim impact statements get underway.
Space
More Space
Bright star will vanish in one-of-a-kind eclipse. Here's how to watch it.
Betelgeuse, one of the biggest and brightest stars in the night sky, will momentarily vanish as an asteroid passes in front of it to produce a one-of-a-kind eclipse.
Russian cargo ship docks at International Space Station
A guidance system problem during final approach prompted two space station cosmonauts to take over by remote control.
NASA "unlikely" to launch Artemis moon landing flight in 2025, GAO says
NASA is facing challenges with SpaceX's moon lander and the new Axiom spacesuits for moonwalkers.
New solar system with rare, perfectly in-sync planets found in Milky Way
Astronomers have discovered six planets orbiting a bright, nearby star in perfect synchrony like a grand cosmic orchestra.
Scientists discover "in-sync" solar system
Scientists have discovered a six-planet solar system in the Milky Way that astronomers say has been untouched by outside forces since its birth billions of years ago. The six planets orbit a star "perfectly" in sync. Derrick Pitts, chief astronomer at the Franklin Institute, joined CBS News to talk about the discovery.
Latest Galleries
More Latest Galleries
Matthew Trussler murder: Inside the case
Matthew Trussler was found dead at the home he shared with his fiancée Melissa Turner. See the evidence that led to authorities piecing together his death.
Catching a killer clown
Marlene Warren answered the door to her Wellington, FL, home and was fatally gunned down by a mysterious clown. Despite eyewitnesses, circumstantial evidence, and the identification a suspect early on, it would take more than 30 years for her killer to face justice.
Notable Deaths in 2023
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Becky Bliefnick texted about fear of her estranged husband
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
The crime scene evidence that convicted Alex Murdaugh
Inside South Carolina's "trial of the century" — how investigators built their case
Latest Videos
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Latest Videos
12/7: CBS Evening News
3 people killed in UNLV shooting identified; Pearl Harbor survivors mark 82nd anniversary of attack
Oxford High School shooter sentenced
The families of Michigan's Oxford High School shooting victims watched as the man who carried out the attack in 2021 was sentenced Friday to life without a possibility of parole by Oakland County Judge Kwame Rowe. CBS News legal contributor Jessica Levinson joins CBS News with more on the sentencing, and Kyla Peeples, a CBS News associate producer, reports on the hearing.
"48 Hours" probes murder of Andreen McDonald
A new "48 Hours" investigation is looking into the disappearance and death of millionaire businesswoman Andreen McDonald. "48 Hours" correspondent Peter Van Sant has a preview of the story, which airs Saturday on CBS and Paramount+.
Protecting the Planet: Severe weather
In this episode of “Protecting the Planet,” CBS News senior environmental correspondent Ben Tracy explores the connection between climate change and the natural disasters that affected our world in 2023.
Electric vehicle reliability concerns
A new Consumer Reports study found about half of electric vehicles on the road fall short of their driving ranges as estimated by the Environmental Protection Agency. CBS MoneyWatch associate managing editor Aimee Picchi looks at the report's findings.