A startling 90 percent of Americans are worried about their retirement savings, even prior to President Bush unveiling his sweeping second-term agenda, which includes a series of reform measures topped by revamping the Social Security system. Some 57 percent of consumers participating in a survey by banking and financial services conglomerate Wachovia Corp. said that they often worried or sometimes felt worried about how well they will be prepared for retirement, while 32 percent said that retirement savings was an occasional worry. Wachovia's survey -- conducted prior to the election -- included 2,100 consumers with household income or investments exceeding $75,000. It was conducted last fall, before Bush won re-election. 36 percent admitted that they weren't saving enough for retirement, while another 11 percent were worried but were confident that they were pursuing the right course of action. Just 16 percent of the survey participants expressed confidence that they would receive Social Security benefits when they retired. And 50 percent were skeptical of the president's plan for private accounts, saying it was too risky for their retirement savings.
-
The Public Company Accounting Oversight Board today sanctioned Goldman & Company, CPA's, Raymond Chabot Grant Thornton, and PWR CPAs.
July 11 -
The Senate passed a bipartisan bill that would provide tax-filing relief for taxpayers in states that have issued state-level disaster declarations, sending the bill to President Trump for his signature.
July 11 -
Wiss hosts third annual summer financial literacy program; Schneider Downs adds five shareholders; and more news from across the profession.
July 11 -
Plus, Abacus announces $6.6 million seed funding for agentic AI assistants; and other news and updates from the accounting tech arena.
July 11 -
Underhanded underground; down on the farm; reality check; and other highlights of recent tax cases.
July 10 -
Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: site selection + incentives and state and local income tax consulting.
July 10