Year Archives - DR News - News, Retirement, Finance

Record-Breaking Retirement: U.S. Approaches “Peak 65” Year

The city of New York, NY – The United States is heading towards a record-breaking year for retirement, known as “Peak 65.” This trend is a result of the large number of baby boomers reaching the traditional retirement age of 65. The combination of the baby boomer generation and longer life expectancies is contributing to this phenomenon. As the population ages, the impact of “Peak 65” on the workforce and economy is becoming more evident. …

Universal Credit Changes: Thousands Could Lose £2800 a Year in Benefits

London, UK – A recent change to the Universal Credit system in the UK could potentially leave thousands of individuals receiving benefits significantly worse off, with a potential loss of £2,800 per year. This adjustment has sparked concerns among experts and advocates for those reliant on the benefits for their livelihood. The potential decrease in financial support comes as the government plans to transition claimants from the legacy benefits system to Universal Credit. While the …

SSI 2024: First Payment of the Year to Release in 16 Days, New Maximum Amount Revealed

Denver, CO – The first Supplemental Security Income payment of 2024 is set to be released on Thursday, Feb. 1st to recipients, marking the first check of the year after two payments were issued in December 2023. The payment, released by the Social Security Administration, varies depending on the filer’s status as an individual, joint, or essential person. Individual filers can receive up to $943 each month, while eligible couples may receive up to $1,415, …

Journalist Evan Gershkovich Endures One Year in Russian Prison

Moscow, Russia – It has been a year since American journalist Evan Gershkovich was jailed in Russia, facing what can only be described as a harrowing experience. Gershkovich, a reporter for the Wall Street Journal, has spent the past twelve months in a Russian prison, cut off from his loved ones and struggling to navigate a foreign legal system. For Gershkovich, every day behind bars has presented a new set of challenges. In a country …

Pension Fund Alecta Vows to Improve After Turbulent Year

Stockholm, Sweden – Following a tumultuous period marred by financial setbacks, the chief executive of Alecta emphasized the need for improvement in managing Sweden’s largest pension fund. Responsible for overseeing approximately $118 billion in retirement savings for a significant portion of the Swedish population, Alecta faced a series of challenges that prompted a call for better practices. The troubles for Alecta commenced in March 2023, when substantial investments in regional US banks turned out to …

Hospitalized last year and missed RMDs: How to remedy the oversight

New York, NY – Many individuals may find themselves in a situation where they were unable to take their Required Minimum Distribution (RMD) from their retirement account, particularly due to unforeseen circumstances such as a hospitalization. Fortunately, there are options available to rectify this issue and avoid any potential penalties from the IRS. One possible solution is to take the missed RMD as soon as possible and report the situation to the IRS. Providing a …

Taxes on Social Security: Tips for Reducing Costs in the First Year

Indianapolis, IN – As retirement approaches, many individuals begin to navigate the complex landscape of Social Security benefits. One common concern for retirees is how to minimize the taxes paid on these benefits. Understanding the tax implications of Social Security is key to optimizing retirement income. When it comes to reducing taxes on Social Security benefits, there are several strategies that retirees can implement. One approach is to consider spreading out other sources of income …

London Fashion Week’s 40th Year Highlights Up-and-Coming British Talent

London, England – London Fashion Week celebrated its 40th year with a showcase of budding British talent, drawing to a close on Tuesday. Since its founding in 1984, London has been known for nurturing world-renowned designers like Vivienne Westwood, Alexander McQueen, and John Galliano. The Central Saint Martins Masters degree show featured a smorgasbord of the weird and wonderful, with student Jonathon Ferris sending models down the runway in identical masks of his own likeness, …

Restaurants of the Year 2024: USA TODAY Network Picks the Top Places to Eat Across the USA

Embark on a culinary journey across the United States as we unveil the 2024 USA TODAY Restaurants of the Year. These restaurants have been carefully selected by our team of writers, who are deeply rooted in the communities they cover. With a shared passion for sharing delicious food experiences, our writers have curated a list of exceptional dining establishments that they frequent with friends and family. The list features a diverse range of restaurants, from …

Girl Scout Cookies will Bring in Over $1 Billion in Sales this Year, Says Chief Revenue Officer

New York, NY – It’s that time of year again – Girl Scout cookie season. And this year, the organization is gearing up to sell around 200 million packages of cookies, raking in close to $1 billion in sales. This insight comes from an interview with Wendy Lou, the chief revenue officer of the Girl Scouts of the USA. According to Lou, the organization’s cookie-selling program, which dates back to 1917, is not just about …