Americans Archives - DR News - News, Retirement, Finance

Annuities: Why Do Americans Still Not Understand Them?

Philadelphia, PA – Annuities play a crucial role in the American retirement system, serving as a key component alongside Social Security. Despite this significance, a large percentage of Americans lack a proper understanding of annuities. Recent studies conducted by the American College of Financial Services and researchers from the TIAA Institute and Stanford University reveal a concerning lack of knowledge among Americans regarding annuities. The studies showed that respondents performed poorly on quizzes related to …

Healthcare Protections Reinstated for LGBTQ+ Americans by Biden Administration

Washington, D.C. – The Biden administration made a significant announcement on Friday concerning federal protections for LGBTQ+ individuals seeking healthcare, a stark reversal of the policies under the previous Trump administration. Years of legal battles and activism have led to the reinstatement of protections for patients receiving gender-affirming treatment or abortions, preventing discrimination in healthcare settings. These moves have faced opposition from conservatives who argue that such rules would infringe on providers’ religious beliefs. The …

Retirement Anxiety Grows Among Older Americans due to Rising Expenses and Lack of Savings

Washington, DC – A recent survey conducted by AARP reveals that approximately one-quarter of adults over the age of 50 in the United States who have not yet retired express concerns about their ability to do so, with some even believing they may never retire. The survey also found that 70% of respondents are anxious about the possibility of prices increasing faster than their income. According to the AARP research released on Wednesday, 25% of …

Social Security Payments Could Lead to Higher IRS Bills for Millions of Americans as Tax Season Approaches

Sarasota, Florida – As tax season approaches, many seniors on Social Security may find themselves owing thousands of dollars to the IRS. Although Social Security payments received a 3.2 percent cost of living adjustment this year, this increase could inadvertently push many seniors into a higher tax bracket, resulting in a larger amount of money being withheld from their payments. In fact, it is estimated that nationally, about 40 percent of Social Security recipients are …

SSI Rental Subsidy Expansion Set to Impact Thousands of Americans in 2024

Washington, D.C. – Thousands of United States citizens receive Social Security checks each month, providing a vital source of income for many individuals. However, in addition to these payments, the Administration also disburses Supplemental Security Income (SSI) to specific groups of citizens. This supplementary payment plays a crucial role in improving the standard of living for many beneficiaries. To qualify for Supplemental Security Income (SSI), individuals must meet two specific criteria set forth by the …

Social Security Benefits Slashed for Thousands of Americans

Salt Lake City, Utah – Thousands of individuals in Salt Lake City, Utah, have been removed from social security benefits, causing concern among residents. The decision to revoke these benefits has sparked outrage and confusion among those affected. This move comes as a surprise to many, as the individuals who have been removed from social security had been relying on these benefits for their livelihood. Many are now left wondering how they will make ends …

Medicare’s Ongoing Battle to Include Basic Dental Coverage for Americans Over 65

Houston, Texas – The legacy of C. Everett Koop, the former U.S. Surgeon General, extends beyond his renowned work in pediatric surgery and his advocacy during the HIV-AIDS crisis. Koop’s emphasis on the importance of oral health has resurfaced as millions of Americans continue to lack access to basic dental services like checkups and cleanings, even decades after Koop’s tenure in the Reagan administration. Despite the crucial role that oral health plays in overall well-being, …

Retirement Plan Mandates Boost Savings Options for Americans

Hartford, Connecticut – Retirement savings can be a critical concern for many working Americans, especially when their employers do not offer any retirement plans. This lack of employer-provided savings options affects nearly half of the working-age population, leaving many individuals on their own to secure their financial future. In response to this challenge, several New England states are taking proactive measures to address the issue of inadequate retirement savings. Connecticut, for example, has recently mandated …

401(k) Illiteracy Plagues Nearly Half of Americans: Shocking Survey Results

A recent survey in the United States revealed that almost half of Americans lack knowledge about financial matters, particularly when it comes to understanding 401(k) plans. The study, conducted by OnePoll on behalf of Beyond Finance, found that 43% of respondents were unfamiliar with what a 401(k) is, highlighting a significant gap in financial literacy among Americans. In addition to this lack of understanding about retirement savings, the survey also uncovered a general lack of …

Social Security Administration Set to Distribute New Retirement Payments to Eligible Americans

Denver, Colorado – The Social Security Administration is set to distribute new retirement payments to eligible households across the United States. However, not all retirees will receive this payment as there are specific requirements that must be met in order to qualify. To access this new payment, individuals must meet two key requirements set by the Administration. While the maximum payment can reach up to $4,873, not all recipients will receive this amount as eligibility …