Latest news with #AliciaGomez
CBS News
5 days ago
- Business
- CBS News
Couple faces retirement fears amid market swings: "We don't have do-over time"
Dinner at the Gomez home outside Boston provides a textbook image of the sandwich generation: three sets of relatives living under one roof. "A club sandwich has a lot of layers, and we have a lot of layers," 57-year-old Alicia Gomez said. It's not the easiest way to save for retirement, as Gomez and her 59-year-old husband, Chu, told CBS News during an interview last year. Back then, their nest egg was healthy and growing. Stocks were climbing, hitting an all-time high by February of this year. But they cratered as the trade war started, only to climb back and recover most of the losses. "I feel like I'm on a rollercoaster," Alicia Gomez said. "You just hope that if we're gonna be on the downturn now, will we be on the upturn when we decide to retire?" Like millions of Americans, the couple is experiencing waves of an uncertain, see-sawing market. These gyrations can trigger rash decisions, said labor economist Teresa Ghilarducci of the New School for Social Research. "We have a name for living through that kind of volatility, and it's called scarring," Ghilarducci said, stressing the importance of asking the experts in times of financial crisis. "Do not talk to your friends or your family about what to do. Take a breath, take a minute and rely on expert advice," Ghilarducci said. Alicia, who holds down two jobs, had thought maybe she'd cut back work at 62. Chu, who works in logistics, thought it would be at 65. Now, they've adjusted that mindset. "It's probably gonna be 67 at least, but you know, I think there's still a lot of unknowns," Alicia said. Right now, the couple is maxing out their retirement accounts, Chu said, but that could change if they needed to pull back. Adding to their anxiety is the fear that the Social Security system could run dry. There's been a 13% jump this year in people claiming retirement benefits early, despite the reduced payouts, according to the Urban Institute. Ghilarducci strongly advises against that. "Wait for the maximum benefit that you can get. Don't haircut yourself now, anticipating it'll be cut later," she said. The Gomezes say their retirement investments are up by about 3% this year, so they'll simply sit tight and work hard to hold onto their jobs. "A lot of us have been through a lot within, you know, just less than a year. We don't have do-over time," Alicia said.
Trade Arabia
13-03-2025
- Trade Arabia
Uzbekistan joins International Code for Protection of Tourists
Uzbekistan has become the 26th country to adhere to the International Code for the Protection of Tourists (ICPT). The ICPT is a unified global framework designed to protect tourists, particularly in emergency situations, and to safeguard their rights and responsibilities as consumers. By adhering to this code, Uzbekistan reinforces its dedication to enhancing guarantees and legal protections for tourists and further complements its ongoing efforts in collaboration with UN Tourism to strengthen global tourism standards. The Minister of Ecology, Environmental Protection and Climate Change of Uzbekistan, Aziz Abdukhakimov, said: 'Uzbekistan is committed to ensuring the highest standards of safety, security, and quality for all visitors to our country. The International Code for the Protection of Tourists not only enhances the rights and protections of travelers but also strengthens trust in Uzbekistan as a welcoming and reliable destination. Our alignment with these global principles will further support our vision of a modern, hospitable, and competitive tourism sector that benefits both visitors and local communities.' Uzbekistan has been at the forefront of advancing international tourism standards. Notably, the country has been a driving force in the establishment of the Committee for the development of an International Safe Tourism Code, and was unanimously elected as the Chair of the Committee at its first meeting in December 2024. Alicia Gomez, Director of Legal Affairs and International Standards at UN Tourism, adds: 'The global and interconnected nature of the tourism sector makes the harmonisation of international standards even more vital. Both the ICPT and the future International Safe Tourism Code are invaluable tools in this endeavor.'
