Robert Hiltonsmith, a researcher at the think tank Demos, has estimated that the average household loses $155,000 in potential gains as a result of unnecessary fees.
Last month, President Obama inaugurated yet another way to encourage Americans to save for retirement. In the new myRA accounts, workers can save up to $15,000 in a low-fee investment plan that, like a government savings bond, guarantees the principal. The accounts are a small step toward helping households save, but they are not an effective solution to the coming retirement crisis.
Starting in 2020, the numbers of very low-income elderly will rise sharply as the retired population soars to almost 56 million.
Federal Reserve Board Chair Janet Yellen is living in a bubble because the Fed just doesn’t see that. Perhaps the Fed wants to put the brakes on an economy already struggling up a hill on low fuel? Amy Traub, a senior policy analyst at Demos, believes the Fed’s interest-rate hike is a “small step toward slowing down the economy.”
Demos and the ACLU of Ohio, on behalf of the civil rights-labor organization the Ohio A. Philip Randolph Institute (APRI), sent a pre-litigation notice letter to Ohio Secretary of State Jon Husted demanding that the State stop illegally removing voters from its voter registration rolls.
Next year won’t just mark the most expensive and big money-dominated election in U.S. history--it is also the 40th anniversary of the Supreme Court case that set the basic structure of campaign finance law. In Buckley at 40, Demos Counsel and Senior Advisor Adam Lioz examines how 1976’s Buckley v. Valeo launched a vicious cycle of political, economic, and racial inequality that endures today.
Unfortunately, more and more retirees are falling into debt at the exact point in their lives when they should be free from financial worries. Whereas older people paid off their mortgages in generations past, now nearly half of all senior citizens still owe a house note.
But for many, even landing a job was not enough to make ends meet: of those 5 million job openings, nearly half paid less than $15 per hour, leaving only 2.7 million that paid $15 or more per hour. And for workers able to secure only part-time employment, wages were even more inadequate: in 2014, more than one in five part-time workers wanted full-time employment but were unable to find it.
The core finding: there are not enough living wage jobs to go around. And women and people of color are especially impacted by low wages and part-time work.
What’s up with working-class whites? It’s a question that’s been asked for decades, and has been raised again recently in the discussion surrounding an Alec MacGillis piece examining Matt Bevin’s recent election gubernatorial win in Kentucky, which could leave many in Kentucky without Medicaid.
As Black Friday approaches, retailers nationwide are waiting anxiously to see whether the nation’s busiest shopping day will deliver a boost in profits. But perhaps no company has more at stake than Walmart, the shopping behemoth that was the world’s largest retailer until Amazon supplanted it in that role this summer.
Despite its reputation as an antidote to inequality, the U.S. higher education system has reinforced and even exacerbated racial wealth inequality, by preventing many students of color from accessing college and loading black students with debt when they do attend.
Late Monday night, while protesting the recent police killing of Jamar Clark, a 24-year old Black man, in Minneapolis, 5 people were shot. They were just a block away from the Minneapolis Police Department’s 4th Precinct, where protesters have held daily demonstrations for the past nine days. Demos President Heather McGhee:
”Protesters represent the very best of our democracy and every candidate for president should denounce last night’s shooting in the strongest possible terms."
However generous paid leave benefits are, whether employees actually use those benefits will depend a lot on the culture they work in and the social pressures they face.
Amazon, for instance, is "notorious for its competitive work environment, and simply having access to leave may not be enough if workers feel they will be penalized in their careers for taking it," said Amy Traub, a senior policy analyst at Demos.
This is doubly true for fathers, who are especially unlikely to take leave no matter where they wo
All in, 401(k) fees can range from 50 basis points up to 3 percent, said David Walters, a CPA and certified financial planner with Palisades Hudson Financial Group. Any plan charging more than 1 percent, Walters insisted, should be seen as suspect.
"Taken over an employee's lifetime, that can make a huge difference in what [workers] get to spend in retirement," Walters said.
Yesterday, Sen. Sanders offered a solid, detailed plan to combat big money in politics. His proposal means that heading into Saturday’s debate all three Democratic candidates now have specific policy agendas aimed at addressing the unprecedented influx of big money into U.S. elections.
Fees can take a bite out of your retirement income, so it's important to be aware of what advisory or fund management fees you might be paying. Fees for a median-income two-earner family can eat up almost one-third of their investment returns over a lifetime, according to Demos, a think tank. Reining wrote on his blog that he invested in index funds, which typically have lower fee structures than actively managed funds, and individual stocks.
However generous Amazon's new benefits are, whether employees actually use those benefits will depend a lot on the culture they work in and the social pressures they face.
"Amazon is notorious for its competitive work environment, and simply having access to leave may not be enough if workers feel they will be penalized in their careers for taking it," said Amy Traub, a senior policy analyst at Demos.
"The Administration strongly supports the goals of the NVRA and is committed to enforcing its requirements, as applicable," the agency said in a statement.
Jenn Rolnick Borchetta, senior counsel at Demos, called this an "almost hidden voter registration question" that does not satisfy the NVRA.
To comply with the NVRA, she said, the exchange would need to directly ask applicants if they want to register to vote because applicants are less likely to see registration information if they aren't forced to answer a question about it.