Connect with us

Texas

More than 90% of Texas voters say there is a ‘retirement crisis’

Published

on

More than 90% of Texas voters say there is a ‘retirement crisis’


Texas voters think there is a ‘retirement crisis’ and their post-work accounts are underfunded, according to new study from asset management giant BlackRock, even though the issue hasn’t drawn the same attention in national and state elections as other hot-button issues.

The study is part of what company founder and CEO Larry Fink called “rethinking retirement” in his 2024 annual chairman’s letter to investors. In his letter, Fink wrote that the retirement crisis requires a substantial response from the U.S. government.

“America needs an organized, high-level effort to ensure that future generations can live out their final years with dignity,” he wrote.

The new study, which surveyed 500 registered voters in Texas, seems to point toward Texan voters being in broad agreement with Fink. One of the most eye-catching figures: 91% of Texas voters think there is a retirement savings crisis in America.

Advertisement

Business Briefing

Become a business insider with the latest news.

The survey results come two months ahead of a pivotal national election where the economy and inflation are expected to be key issues among voters, but social security and retirement savings policies have been overshadowed by abortion, immigration, foreign policy and tax priorities.

Texans are slightly more concerned about a retirement crisis than the country as a whole, of which 90% said there is such an issue.

Once you take that into account, the rest of the figures in the study are no surprise. More than 70% of registered Texas voters are concerned about having enough in savings or investments to fund their needs in retirement. A similar percentage are concerned about maintaining their standard of living or being able to afford long-term costs like nursing homes once they retire.

Advertisement

Nationally, voters estimate it will take about $2.2 million to retire, but 62 % of registered voters in Texas surveyed report they have less than $150,000 in retirement savings.

All told, less than a quarter (24%) of registered Texas voters expressed a high level of confidence that they have enough to live throughout their retirement years. That’s a lower percentage than the 32% who reported they have no retirement savings at all.

That 32% with no retirement savings is skewed toward young people and minorities. According to the survey, 52% of registered Texas voters aged 18-34 and 46% of Black voters reported having no money saved for retirement.

That number is also high (41%) amongst women between the ages of 18 and 54. Lower earnings and longer life expectancy on average, as well as career pauses, often for family reasons, are three of the top factors for less savings among women.

The Motley Fool: Tech giant Alphabet built to thrive

If online search and advertising revenue dried up, Alphabet would rely on its Android smartphone, YouTube video platform and Google Cloud decentralized computing service in the short term.

Advertisement
Hundreds of thousands of people have borrowed money from Exeter Finance to pay for their...
ProPublica: Irving-based auto lender Exeter deferred loans and drove up borrowing costs

Exeter is one of the largest auto lenders in the nation, specializing in high-interest loans to people with histories of not paying bills or defaulting on debt, a practice known as subprime lending. The company, which has more than 500,000 active loans and a partnership agreement with CarMax, the country’s largest used car retailer, casts itself as a provider of second chances. “We’re here to help,” it says on its website. In reality, Exeter’s practices often do the opposite. When the company allows a borrower to skip payments, it typically adds thousands of dollars in new interest charges to the customer’s debt. Dozens of customers told ProPublica that Exeter didn’t tell them about the added costs. When it’s time to make their final payment, many are faced with a huge bill, which they often can’t afford to pay.



Source link

Texas

Co‑worker confesses to killing missing North Texas man and stealing his car, police say

Published

on

Co‑worker confesses to killing missing North Texas man and stealing his car, police say



A North Texas man reported missing earlier this week was found dead Friday, and police say a co‑worker has confessed to fatally shooting him and stealing his car.

The suspect, Gregory D. Lewis, 34, remains in custody and faces a forthcoming capital murder charge, according to the Fort Worth Police Department. 

Lewis is accused of killing 31‑year‑old Thomas King, who had been last seen in his Taco Casa work uniform. King was reported missing on Tuesday after failing to return home Monday from the fast‑food restaurant in the 1100 block of Bridgewood Drive.

Advertisement

Car found at Arlington motel 

Police said King’s car was found at the Quality Inn on I‑20 in Arlington, and surveillance video showed Lewis arriving in King’s vehicle shortly after King left work. 

Detectives identified the man in the video and arrested him on unrelated charges.

  Gregory D. Lewis, 34

Tarrant County Jail

Advertisement


Body discovered on Fort Worth’s East Side 

King’s body was located on Friday in an open field on Fort Worth’s East Side, authorities said. 

According to police, Lewis confessed to shooting the victim and stealing his car. 

Medical examiner review pending 

The Tarrant County Medical Examiner will determine the cause of death. 

CBS News Texas has reached out to Taco Casa for comment.

Advertisement



Source link

Advertisement
Continue Reading

Texas

Exclusive | Mexican mayor urged relatives in US to vote for Texas Dem for Congress who would ‘take care’ of their city

Published

on

Exclusive | Mexican mayor urged relatives in US to vote for Texas Dem for Congress who would ‘take care’ of their city


WASHINGTON — A Mexican mayor earlier this month urged her constituents to get their relatives in Texas to vote for House Democratic candidate Bobby Pulido because he would “take care” of their city if elected to Congress.

“We need to get out the vote for him,” said Patricia Frinee Cantú Garza, mayor of General Bravo in Nuevo León, less than two hours from the US border, in a recent Spanish-speaking Facebook reel,which The Post reviewed and translated.

“Talk to your families in the United States. Make sure they go vote,” Garza added, noting that she would be presenting the keys to the city to Pulido, a two-time Latin Grammy winner, on April 3.

A Mexican mayor earlier this month urged residents of her municipality to get their relatives in Texas to vote for House Democratic candidate Bobby Pulido because he would “take care” of their city if elected to Congress. Politigranja/ Facebook

“When he becomes a congressman,” she also said, “we want him to take care of Bravo.”

Advertisement

The city ceremony celebrating Pulido in General Bravo never received enough funding and was cancelled, the Mexican outlet El Norte reported.

Pulido has headlined concerts in General Bravo as recently as November 2023. Local officials promoted the show and the current mayor and her husband, then-mayor Edgar Cantu Fernandez, appeared.

“Bobby doesn’t know the mayor and has never met her,” a Pulido campaign spokesperson said in a statement. “He declined the invitation, didn’t attend the event, and isn’t responsible for unsolicited comments made by other people.”

Bradley Smith, a former chairman of the Federal Election Commission, said the statements wouldn’t pose legal or ethical issues for Pulido — but that the remarks may have a political cost, given the focus on foreign involvement in US elections in recent years.

“Bobby doesn’t know the mayor and has never met her,” a Pulido campaign spokesperson said in a statement. Bobby Pulido for Texas

“If you were making financial contributions, that would be a different thing, but just to exhort people to vote,” Smith said, “I don’t think that’s going to be a problem for them.”

Advertisement

Jessica Furst Johnson, a partner at the Republican-aligned campaign finance and election law firm Lex Politica, noted that event appeared to function as an in-kind contribution to Pulido’s campaign but it would be difficult to determine without “more details.”

Congressional Republicans have thus far failed to pass a bill this session aimed at beefing up identification requirements for voters when registering, though many have said laws as currently written are too lax and could lead to non-citizens casting ballots.

State investigations and audits have shown in recent years that thousands of non-citizens ended up being registered, but few have ever illegally voted. Those who have are federally prosecuted.

Pulido has headlined concerts in General Bravo in the city as recently as November 2023, which local officials promoted and where the now-mayor and her husband, then-mayor Edgar Cantu Fernandez appeared. Obtained by NY Post
Pulido is challenging incumbent GOP Rep. Monica De La Cruz in the Texas district this November and has faced questions from the press about his ties to Mexico, where he has said he maintains a home for parts of the year. CQ-Roll Call, Inc via Getty Images

Pulido is challenging incumbent GOP Rep. Monica De La Cruz in the Texas district this November and has faced questions from the press about his ties to Mexico, where he has said he maintains a home for parts of the year.

The Latino music star admitted to splitting time with his family between there and Texas just two years before launching his campaign, telling a YouTube show in a 2023 interview that he’s a “summer Mexican” but “winter Texan.”

Advertisement

“We live on the border,” he has also said. “My wife and I have a house in Mexico. So, we travel there, and we spend time over there.”

“Bobby lives in his family home in Edinburg, Texas, where he was born, raised, and is raising his own family,” the Pulido campaign rep noted. Getty Images

There was no indication of a current mortgage on a property either there or in the US, according to financial disclosures that Pulido filed April 15 with the House. Those filings also revealed he holds a checking account at a Mexican bank.

“Bobby lives in his family home in Edinburg, Texas, where he was born, raised, and is raising his own family,” the Pulido campaign rep noted. “He is in complete compliance with all House disclosure rules — the property you are referencing is not his primary residence so is not required to be listed.”



Source link

Advertisement
Continue Reading

Texas

Pushback grows over Texas governor’s threat to withhold public safety money

Published

on

Pushback grows over Texas governor’s threat to withhold public safety money


Criticism is mounting over the threat to withhold public safety grants from Austin and other major Texas cities, with opponents arguing the move is politically motivated as both the governor and attorney general seek office this year.

“Defunding the public safety for political reasons was wrong when the Democrats did it; still wrong when the Republicans do it,” the former executive director of the Combined Law Enforcement Associations of Texas, Charley Wilkison, wrote on X.

Criticism is mounting over the threat to withhold public safety grants from Austin and other major Texas cities, with opponents arguing the move is politically motivated as both the governor and attorney general seek office this year. (Photo: CBS Austin)

The statement came hours after Governor Greg Abbott threatened to cut $2.5 million in public safety funding to Austin. The governor expressed opposition to Austin’s decision to update its policy governing how police handle administrative warrants used by U.S. Immigration and Customs Enforcement in immigration detentions.

Advertisement

“The city has updated its general orders to align with state and federal law and also to protect the Fourth Amendment of Austin residents who should be free from unlawful search and seizure,” said Austin City Councilmember Mike Siegel.

ALSO| Gov. Abbott threatens to withhold $2.5 million from Austin regarding APD ICE policies

KEYE

Advertisement

Houston and Dallas are also facing similar threats from the governor.

“The statement from the governor’s office was really disappointing and frankly it’s wrong on the law and it’s wrong on what’s good for public safety,” Siegel said.

In a statement provided in response to a request for an interview, the Combined Law Enforcement Associations of Texas said, “Law enforcement officers continue to be dragged into political warfare while real public safety issues are ignored.”

The president of the Austin Police Association did not respond to a request for comment regarding the potential impact on officers.

A request for comment to the governor’s office received a previously issued statement from Abbott’s press secretary, which read: “A city’s failure to comply with its contract agreement with the state to assist in the enforcement of immigration laws makes the state less safe. It can have deadly consequences. Cities in Texas are expected to make the streets safer, not more deadly.”

Advertisement

Siegel defended the city council’s position, stating, “I can speak for myself as one of 11 voting members of our city council. We’re not going to sell our values for a couple million dollars in public safety grants.”



Source link

Continue Reading
Advertisement

Trending