Millions of Americans nearing retirement age with no savings
According to U.S. Census Bureau data, 50% of women and 47% of men between the ages of 55 and 66 have no retirement savings.
401k
Millions nearing retirement without savings
About half of all Americans ages 55 to 66 have no retirement savings, according to U.S. Census data. Janet Shamlian examines the financial struggles many face as they near retirement in the CBS News series "Retirement Ready."
Preparing emotionally for retirement
Millions of Americans are retiring every day, and some experts say it's just as important to prepare for the change emotionally as it is financially. Janet Shamlian takes a look in this edition of "Retirement Ready."
More Americans are tapping their 401(k) plans due to hardship
More employees are tapping their nest eggs to cover financial emergencies, from medical care to avoiding eviction.
Debt ceiling: 3 ways your finances could be affected
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
Walmart isn't paying workers enough and $20 an hour is needed, says author
"We don't have time for incrementalism anymore," said author Rick Warztman.
Congress making it easier to save for retirement — here's how
Experts say new legislation will make it easier to put money away, including for millions of Americans with student loans.
Hardship withdrawals from 401(k) plans hit record high
More Americans are taking retirement savings out of their accounts due to an "an immediate and heavy financial need."
Robinhood wants to be your retirement fund, offering 1% match
Stock app dangles a matching contribution to attract customers who may not have a company-based retirement plan.
Here's how much money Americans think they need for retirement
Workers say they need 20% more than a year ago to retire, yet retirement savings are shrinking.
IRS is raising the 401(k) contribution limit by record amount
The tax agency said it is also boosting the contribution threshold for IRAs due to inflation.
How to spot a great 401(k) while you're job hunting
Not every retirement account is the same. Finding a job with a great one could mean tens of thousands of dollars more when you retire.
How to save for a secure retirement
As the economy remains uncertain, there are questions about how to best save for retirement. CBS News' Lana Zak has more on what retirement accounts could maximize your savings. Then, Harold Pollack, the Helen Ross Professor at the University of Chicago, joins Matt Pieper to discuss.
What to do with your 401(k) in bear market
High inflation and fears of a recession have many Americans wondering what to do with their 401(k) retirement investments. Those fears have been magnified by U.S. stocks falling by at least 20% from their most recent peak in January. CBS News MoneyWatch reporter Aimee Picchi joined CBS News' Errol Barnett and Debra Alfarone to discuss.
Stock market's fall costs Americans $3T
The rising cost of consumer goods coupled with the stock market's decline is taking a devastating toll on Americans' retirement plans. This year's sell-off erased more than $3 trillion in value in retirement savings alone. John Leer, chief economist at Morning Consult, spoke with CBS News' Michelle Miller and Elaine Quijano about the affect on Americans' retirement plans.
MoneyWatch: Stock market drops as mortgage rate climbs
U.S. stocks fell sharply on Thursday, pushing the Dow Jones below 30,000 for the first time since January 2021. Meanwhile, mortgage rates had their biggest one-week jump in 35 years after the Federal Reserve hiked interest rates to tame inflation. Bartie Scott, a senior economy editor for Business Insider, joins Carter Evans to discuss.
How to manage investments in a bear market
Making the right moves with your investments and retirement plan is key when the stock market is in free fall like it has been. Joe Saluzzi, partner and co-founder of Themis Trading spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about what to do with your portfolio.
What is a 401(k)? What to know about this retirement investment vehicle
If you work for a private company, one of the easiest ways to save for retirement is a company-sponsored 401(k) plan. Here's how you can take advantage of the retirement plan that's offered by many employers.
Retirement plan advice as stock market falls
Millions of American's are losing money in their 401K as stocks fall. Frances Stacy, director of strategy at Optimal Capitol, joins CBS News with advice on how to protect your retirement funds.
Brutal week on the stock market
Americans are paying record high prices at the pumps, as inflation fears wreak havoc on the stock market. Errol Barnett reports from Washington, then Lana Zak speaks with Baker Boyer Bank's Chief Financial Officer John Cunnison about how this will impact the average American.
Stocks plunge as major retailers show poor results
Stocks plummeted on Wall Street after disappointing quarterly results from the nation's largest retailers. CBS News senior White House and political correspondent Ed O'Keefe has the latest. Then, Akane Otani, a reporter for The Wall Street Journal, joins Elaine Quijano on CBS News to explain the current market volatility.
Protecting retirement funds from crypto crash
With more and more investment companies offering cryptocurrency as an option in retirement portfolios, the recent decline of digital currency means some people's retirement funds are losing money. Greg McBride, chief financial analyst at Bankrate, joins CBS News to explain what caused the crash and what it means for your investments.
MoneyWatch: Stocks see extreme fluctuations
Stocks hit their lowest point of the year Monday. All three major domestic indexes dropped by at least 2%. Dory Wiley, president and CEO of Commerce Street Holdings, joined "CBS News Mornings" to explain what's behind the recent swings and share advice for investors.
Here's how Congress wants to fix America's retirement crisis
Bipartisan bill could help workers save at a time millions of Americans are financially unprepared for retirement.
Financial tips for recent college graduates
Approximately 1 in 8 Americans hold student loan debt. Amy Richardson, a certified financial planner with Schwab Intelligent Portfolios Premium, joined CBSN's Tanya Rivero with tips for how new college graduates entering the workforce can pay off debt and save money.
Government funding bill clears Congress, averting a shutdown
The stopgap measure to fund the government and provide tens of billions in disaster relief passed the Senate and now goes to President Biden for his signature.
Death toll in attack at German Christmas market rises to 5; 200 injured
Police say the driver is under arrest after plowing into the crowd at a Christmas market in Magdeburg, Germany, killing at least five people and injuring at least 200.
Senate approves bill to expand Social Security to millions of Americans
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
What we know about suspect in Christmas market attack in Germany
The suspect, identified by local media as 50-year-old Taleb A., was arrested after plowing a black BMW into a Christmas market crowded with holiday shoppers in Magdeburg, Germany, killing at least five people and wounding more than 200 others.
Biden surpasses Trump with 235th federal judge confirmed
The Senate confirmed two more judges to the federal bench on Friday, giving President Biden a total of 235 since he took office.
Here's a fact check on Trump's recent comments about the history of U.S. tariffs
Historians say Trump falsely said he was the only president to collect revenue from tariffs on Chinese goods, among other claims.
What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
10 dead after stampede at a Christmas charity event in Nigeria
The stampede occurred in the early morning at a church in Nigeria, prompting evacuations at the church.
Rocket from Yemen strikes Tel Aviv, injuring 16 people
Inside Gaza, mourners held funerals for 19 people, 12 of them children, killed in Israeli strikes.
U.S.
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Pope Francis tells Vatican staff to stop gossiping in Christmas speech
Pope Francis has told Vatican bureaucrats to stop speaking ill of one another, calling gossip "an evil that destroys social life."
Senate approves bill to expand Social Security to millions of Americans
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
How much more will it cost to heat your home this winter?
Here's what's driving up home heating costs, and how much families are expected to spend this winter.
IRS sending up to $1,400 to 1 million people. Here's who qualifies.
The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the "special payments."
MoneyWatch
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Senate approves bill to expand Social Security to millions of Americans
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
How much more will it cost to heat your home this winter?
Here's what's driving up home heating costs, and how much families are expected to spend this winter.
IRS sending up to $1,400 to 1 million people. Here's who qualifies.
The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the "special payments."
Feds sue Zelle, alleging nation's biggest banks failed to stop fraud
Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.
What would a government shutdown mean for flights and air travel?
Here's what the anticipated record number of holiday travelers should know about how a government shutdown could affect trips.
Politics
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Biden surpasses Trump with 235th federal judge confirmed
The Senate confirmed two more judges to the federal bench on Friday, giving President Biden a total of 235 since he took office.
Here's a fact check on Trump's recent comments about the history of U.S. tariffs
Historians say Trump falsely said he was the only president to collect revenue from tariffs on Chinese goods, among other claims.
Feds sue Zelle, alleging nation's biggest banks failed to stop fraud
Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.
Mayorkas warns of "serious" consequences for Homeland Security if government shuts down
The warning came before the House passed a last-minute stopgap funding bill with bipartisan support Friday night, sending it to the Senate.
Biden issues likely last round of student debt forgiveness before leaving office
The Biden administration is canceling federal student loans for another 55,000 workers to the tune of $4.28 billion in what's expected to be the last such round before he leaves office.
HealthWatch
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A teen's misdiagnosis led to medication, but surgery led to a cure
Isaac Klapper was 10 years old when he started having episodes of what doctors initially thought was a movement disorder.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Stuffing stockings with skincare? Here's what kids should and shouldn't be using
Skin care is all the rage for teens and tweens these days, but be careful not to give products that could cause more harm than good.
He went in for a colonoscopy. The hospital charged $19,000 for two.
A Chicago man was stuck with a big medical bill after undergoing a colonoscopy that found no evidence of cancer. Here's why.
Frito-Lay recalls some Lay's chips over "life-threatening" allergy risk
Some 13 oz. bags of Lay's Classic Potato Chips may contain an undeclared allergen, according to the snack company.
World
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Pope Francis tells Vatican staff to stop gossiping in Christmas speech
Pope Francis has told Vatican bureaucrats to stop speaking ill of one another, calling gossip "an evil that destroys social life."
At least 30 dead after crash between a passenger bus and a truck in Brazil
In 2024, more than 10,000 people died in traffic accidents in Brazil, according to the Ministry of Transportation.
Rocket from Yemen strikes Tel Aviv, injuring 16 people
Inside Gaza, mourners held funerals for 19 people, 12 of them children, killed in Israeli strikes.
What we know about suspect in Christmas market attack in Germany
The suspect, identified by local media as 50-year-old Taleb A., was arrested after plowing a black BMW into a Christmas market crowded with holiday shoppers in Magdeburg, Germany, killing at least five people and wounding more than 200 others.
10 dead after stampede at a Christmas charity event in Nigeria
The stampede occurred in the early morning at a church in Nigeria, prompting evacuations at the church.
Entertainment
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Young dancers take on lead roles in Christmas classic "The Nutcracker"
The New York City Ballet has been performing "The Nutcracker" for decades. Each year, young dancers make their mark on the ballet.
The man behind method acting
50 years ago, "The Godfather Part II" was playing in theaters nationwide. The film catapulted Lee Strasberg, whose namesake form of acting preparation was used by some of the film's leads, to stardom. Dozens of the entertainment industry's biggest stars have trained at his institute, learning the techniques of method acting. Michelle Miller went behind the scenes to learn more about "The Method Man."
The young dancers behind a holiday classic
The New York City Ballet's production of "The Nutcracker" began in 1954 and has remained one of the most enduring shows at Lincoln Center. Two young dancers taking the stage this year opened up about living their dream and keeping a holiday classic alive.
The untold WWII story of "Six Triple Eight"
Tyler Perry and Kerry Washington team up on the film "Six Triple Eight," spotlighting the only all-Black women's battalion in Europe during WWII. Washington stars as Charity Adams, the highest-ranking Black female officer.
Alicia Keys surprises students at her former high school
The 16-time Grammy winner returned to the Professional Performing Arts School in New York, where she first began her career, and shares advice with current students.
Technology
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Technology
Supreme Court agrees to hear case about TikTok ban
The Supreme Court said Wednesday it will hear an appeal from TikTok over a federal law that would ban the social media giant if it is not sold by its Chinese parent company. Jan Crawford has more.
Teen victim of deepfake porn urges Congress to pass "Take It Down Act"
Elliston Berry's life was turned upside down after a photo she posted on Instagram was digitally altered online to be pornographic.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Supreme Court to decide on future of TikTok
The Supreme Court plans to hear arguments in January on a challenge to a new law that could lead to the popular social media app TikTok being banned in the U.S. The Biden administration and lawmakers say the Chinese government's ability to collect data from TikTok poses a significant national security risk, while the app and its Chinese parent company ByteDance argue that the law is unconstitutional. CBS News Supreme Court producer Catherine Cole has more.
FAA: Lithium battery fires on flights now occur nearly twice a week
FAA data shows that lithium battery fires on U.S. flights have risen 388% since 2015, now occurring nearly twice a week.
Science
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What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Class-action lawsuit over plastic recycling
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Americans coexisted with 4-ton sloths for millennia, research shows
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
EPA tackling pollution in at-risk communities
The Environmental Protection Agency under President Biden created a new Office of Environmental Justice that seeks to address pollution levels in disadvantaged and marginalized communities. However, there is concern that the incoming Trump administration could do away with the new department. David Schechter reports.
Crime
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Crime
CEO killing sparks concerns about extremism
Luigi Mangione, now held in a New York City lock-up, could face the death penalty if convicted of the shooting death of UnitedHealthcare CEO Brian Thompson. The killing is sparking new concerns about violent extremism bubbling across the country.
Dozens injured in Germany Christmas market attack
At least two people are dead and dozens more injured after a vehicle plowed into a crowd at a Christmas market in Magdeburg, Germany. Authorities say the driver of the car was arrested and that it appears to be a deliberate attack. Elaine Cobbe has details.
German Christmas market attack update
At least two people were killed and over 60 were injured after a car crashed into a Christmas market in eastern Germany. Authorities arrested a suspect, saying they believe he acted alone in the deliberate act. CBS News national security contributor Sam Vinograd has more details.
Toddler killed in German market attack, police say
At least two people, including a toddler, were killed, and at least 60 more hurt, after a car crashed into a Christmas market in Magdeburg, Germany, in what authorities said appeared to be a deliberate attack. German police said a Saudi man has been arrested, but a motive has not yet been determined. CBS News reporter Anna Noryskiewicz has more.
Details on suspect in crash at German market
More than 60 people were injured and at least two killed Friday after a driver rammed into a crowded Christmas market in Magdeburg, Germany. The driver is in custody and local government officials say they suspect the crash was deliberate. CBS News reporter Haley Ott has the latest details.
Space
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Discovery of "tipped over" black hole surprises NASA scientists
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA delayes return date for astronauts
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
Latest Galleries
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
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Latest CBS News Videos
The Dish: Rick Bayless
Chicago-based chef Rick Bayless has spent decades traveling to Mexico, bringing the flavors and traditions back to the United States. He's written nine cookbooks and hosted a PBS cooking show, while his restaurants have earned culinary honors, including Michelin stars. Now, on a special holiday edition of the Dish, Bayless opens up about his annual tradition of spending Christmas in Mexico.
Ben Folds performs "The Christmas Song"
Legendary singer-songwriter Ben Folds rose to fame with his band, "Ben Folds Five," before launching a solo career in the early 200s. Since then, he's recorded multiple studio albums and established himself as one of the most ambitious and versatile performers of his generation. This past October, he released his first Christmas collection, "Sleigher," featuring a mix of original songs and reimagined classics. Now from "Sleigher," here is Ben Folds with "The Christmas Song."
Ben Folds performs "We Could Have This"
Legendary singer-songwriter Ben Folds rose to fame with his band, "Ben Folds Five," before launching a solo career in the early 200s. Since then, he's recorded multiple studio albums and established himself as one of the most ambitious and versatile performers of his generation. This past October, he released his first Christmas collection, "Sleigher," featuring a mix of original songs and reimagined classics. Now from "Sleigher," here is Ben Folds with "We Could Have This."
Ben Folds performs "Me And Maurice"
Legendary singer-songwriter Ben Folds rose to fame with his band, "Ben Folds Five," before launching a solo career in the early 200s. Since then, he's recorded multiple studio albums and established himself as one of the most ambitious and versatile performers of his generation. This past October, he released his first Christmas collection, "Sleigher," featuring a mix of original songs and reimagined classics. Now from "Sleigher," here is Ben Folds with "Me And Maurice."
The man behind method acting
50 years ago, "The Godfather Part II" was playing in theaters nationwide. The film catapulted Lee Strasberg, whose namesake form of acting preparation was used by some of the film's leads, to stardom. Dozens of the entertainment industry's biggest stars have trained at his institute, learning the techniques of method acting. Michelle Miller went behind the scenes to learn more about "The Method Man."