Tax Breaks, Class Actions, and a Reality Check

Another Friday, another batch of headlines shaking up how we think about retirement.

This week, a judge torpedoes a settlement that could’ve short-changed investors, while a new tax break for seniors inches forward in Congress. Meanwhile, across the border, Canada’s top pension thinkers argue it’s time to expand the very definition of “retirement readiness.”

Let’s get into it.

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Courts Turn Down Vanguard’s $40M Offer

A federal judge rejected a $40 million class-action settlement involving Vanguard's target-date funds. Why? Because investors could get more — $135 million more — thanks to a separate SEC agreement. If the court settlement had gone through, legal fees reportedly would’ve taken a $13 million bite out of investor recovery. One class member’s “remarkable objection” made all the difference.

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Can They Afford to Retire?

Financial Post reported a striking anecdote on a pre-retiree couple whose plans were derailed by a looming mortgage renewal and economic uncertainty. With indexed pensions, a $711K portfolio, and solid CPP/OAS projections, their retirement still may not be too far off track. But a planner warns: you need a clear, confident cash-flow plan, not just numbers on paper.

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A $4,000 ‘Senior Bonus’? It’s On the Table

A new Republican tax proposal could give older adults a $4,000 deduction from 2025 to 2028. While it falls short of eliminating Social Security taxes, as President Trump once proposed, it’s a small win for retirees facing growing tax burdens. Still, experts caution: it won’t move the needle much for most seniors.

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Gen X: More Afraid of Outliving Money Than Dying

A staggering 70% of Gen Xers say they fear running out of money more than outliving it. Blame inflation, high taxes, and doubts about Social Security. Experts say the antidote is action: catch-up contributions, real budgeting, and even part-time work can all help turn fear into clarity.

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OMERS Pushes for ‘Whole-Life’ Retirement Planning

Retirement isn’t just about money. A new report from Ontario’s OMERS finds that retirees with strong social ties and good physical and mental health are more satisfied than those with bigger bank accounts. Their message to employers and pension sponsors: start planning sooner — and plan beyond the numbers.

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🥒 Pickle Tip:

Financial readiness is just one leg of the retirement stool. The others? Health, purpose, and connection.

🌟 Final Thought

Whether you’re 35 or 65, there’s no better time to get real about what that looks like for you. If any of these headlines struck a chord, consider starting a conversation with an advisor in the Money Pickle network.

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