Savers and pension holders wasting thousands of pounds on hidden investment fees, research reveals

Savers and pension holders wasting thousands of pounds on hidden investment fees, research reveals

If you invest your savings through a financial adviser, you may be one of many individual investors unwittingly spending thousands of pounds on a little-known type of fees. New research seen by the Independent shows that 41 per cent of investors are unaware of the impact of platform fees on their investments. These are charged […]

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Expected Social Security shortfall won’t stand in way of expansion

For example, if lawmakers were to make no changes until 2035, maintaining a 75-year solvency would require a permanent 3.65 percentage-point increase to the payroll tax rate (for a total of 16.05% that gets split between worker and employer) or a 23% reduction to all benefits starting that year. Meanwhile, more than 200 lawmakers, all […]

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Demonstrators against the Republican tax reform bill hold a 'Peoples Filibuster to Stop Tax Cuts for Billionaires' protest rally outside the US Capitol on Capitol Hill in Washington, DC, November 30, 2017.

Few Americans think they’re getting a Trump tax cut: NBC/WSJ poll

Saul Loeb | AFP | Getty Images Demonstrators against the Republican tax reform bill hold a ‘Peoples Filibuster to Stop Tax Cuts for Billionaires’ protest rally outside the US Capitol on Capitol Hill in Washington, DC, November 30, 2017. No wonder the 2017 Republican tax cut remains so unpopular — the vast majority of Americans […]

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There’s a big discrepancy in the tax system, says former Sen. Heitkamp

While there’s been a big outcry to make the rich pay more in taxes, there is one thing in particular in the U.S. tax code that stands out as unfair, Democratic former Sen. Heidi Heitkamp told CNBC on Monday. “One of the great discrepancies and inequities in our tax system is earned income is taxed […]

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NYC, NJ target cashless businesses, alleging bias against the poor

Lawmakers in New York City and New Jersey are working to pass bills that would require retailers to accept cash, alleging that the growing cashless trend discriminates against low-income customers. Low-income, minority and less-educated households are more likely to have no bank accounts or rely on financial products that come from outside the banking system. […]

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From opting for systematic withdrawal plan to buying health insurance; know how you can help your parents financially

Illustration: Shyam Kumar Prasad While many millennials want to support their parents financially in their old age, setting aside resources becomes a tough task. A clear understanding of savings, investments and expenses is essential to gauge the extent of financial assistance required by parents. Figure out the various instruments they have invested in, insurance that […]

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