Older Americans have low levels of retirement income literacy, but have high levels of self-reported knowledge, finds a study from the Journal of Financial Planning.
Researchers found older Americans lacked knowledge of important retirement income literacy topics, like Social Security, annuities and sustaining retirement income.
Researchers conducted a survey in 2014 and in 2017 using a 20-minute online interview. It consisted of 1,244 respondents between the ages of 60 and 75.
Their results showed only 26 percent of participants could pass the literacy quiz with a score of 60 percent or greater, while 88 percent self-reported that they were moderately to extremely knowledgeable about retirement income planning.
When it came to specific topics, respondents showed the highest level of knowledge about Medicare with an average score of 76 percent, while they showed the lowest level of knowledge about annuities, with an average score of 20 percent.
A proposed bill would help restore federal age-discrimination protections in the workplace.
The Protecting Older Workers Against Discrimination Act is a bipartisan bill that would reverse a 2009 U.S. Supreme Court decision that made it more difficult for workers 40 years of age and older to prove they were discriminated against based on their age. The bill would allow a worker to make a claim of age discrimination using any type or form of admissible evidence and the complainant would not be required to demonstrate that age or retaliation was the sole cause of being fired or not being hired -- as is the case under current law
Nearly 3 in 4 Millennials with student loan debt has delayed at least one major milestone, finds a Bankrate.com study.
According to the report, Millennials with student loan debt are holding off on saving for emergencies, buying a home, paying off debt such as a credit car, buying/leasing a car, saving for retirement, having children and getting married.
The majority of Millennials with student debt in the Bankrate survey say they would have done things differently if could go back and change things, including 34 percent who say they would have applied for more scholarships than they did and 24 percent who would have attended a community college or trade school instead.
As if we needed another reason to love dogs more - turns out there are more harmful bacteria in men’s beards than there are in dog fur.
The Daily Mail reports, a study conducted by Switzerland’s Hirslanden Clinic found every single one of the 18 beards they tested had high bacteria counts, while only 23 out of 30 dogs they tested had high bacteria counts.
Professor Andreas Gutzeit, of the Clinic, said: 'The researchers found a significantly higher bacterial load in specimens taken from the men's beards compared with the dogs' fur.'
The Daily Mail reports the actual purpose of the study was to find out if humans could pick up a dog-borne disease from an MRI scanner that was also used by vets.