Want to Retire Someday? Maybe You Should Prioritize Retirement Benefits

Also: Higher Taxes? More Audits? Here's How Increased IRS Funding Could Affect You

͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  August 23, 2022 Sometimes it's sad to read your old diaries and other times it's hilarious. Or it can be both, like this Money Classic story from 1985 with its predictions about work and retirement in the distant it'll-never-arrive future year 2000. Luckily we didn't predict flying cars and gigantic metal bugs. In 1985, we said the vesting period for retirement benefits would shorten, and it did. (Thank you, Pension Protection Act of 2006.) All workplace retirement plans now have to vest in three years, or use a six-year graded schedule. We were also spot on about people setting up their own businesses in retirement. Our foresight was cloudier on a couple of other things, like our predictions about retiring earlier (nope) and the way we'd all be enjoying our modest pensions (our modest what?). For obvious reasons, it's dawning on more people that the HR packet they get when they start a new job is actually really important. About half of people surveyed by an insurance advisory firm say they're interested in retirement benefits more than they are in actual wages. We take a look at the rising interest in benefits in this story and the questions job seekers should ask to find out more about retirement plans. — Jill Cornfield, deputy editor P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue. Timely Retirement News, Insights and Advice

Higher Taxes? More Audits? Here's How Increased IRS Funding Could Affect You What would more funding for the IRS mean? Higher taxes and more audits? That's what people want to know about the new Inflation Reduction Act — a sweeping bill spearheaded by the Democrats designed to tackle climate change, rising prices, corporate taxes, the federal budget deficit and more. READ MORE

The Postal Service Wants to Hike Prices for the Holiday Season As if inflation wasn't already straining your wallet enough, sending gifts in the mail could be a little more expensive this year. The U.S. Postal Service announced that it's requesting temporary price increases for certain domestic mail services during the holiday season. If approved, the new prices would go into effect on Oct. 2 and last through Jan. 22. READ MORE

4 Ways the Inflation Reduction Act Will Save You Money Lower prescription drug prices, lower health care costs and lower energy costs are coming your way courtesy of a sweeping climate, tax and health care package signed into law last week. The Inflation Reduction Act aims to raise tax revenue from billion-dollar businesses and high-income earners. READ MORE

Here Are the 10 Hottest Housing Markets Now The Northeast is heating up. Six of the top 10 towns in Realtor.com's new Hottest Zip Codes Report are in New England and one more is in upstate New York. These housing markets are hot based on buyer interest, the listings website says. Homes sold fast in these cities, closing in just eight days on the market on average. READ MORE

Retirement News From Around the Web Stock Market Plunge Punished 401(k) Millionaires BLOOMBERG NEWS The Pros and Cons of Using Home Equity to Remodel Your House WASHINGTON POST Can I Afford Having a Baby in a Recession?  SO MONEY WITH FARNOOSH TORABI Tips for Navigating the Health Care System NEXT AVENUE

This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money. Privacy Policy • Advertise With Us • We're Hiring! To stop receiving these emails, unsubscribe or manage your email preferences. Copyright ©2022 Money Group, LLC. All rights reserved. Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, Puerto Rico 00968, USA