This week on "Sunday Morning" (August 3): The Money Issue
Jane Pauley hosts our annual "Money Issue," this year focusing on securing a fulfilling retirement.
COVER STORY: How safe is our Social Security safety net?The Social Security Administration was already at its smallest size in 50 years when, in early 2025, Elon Musk's DOGE team eliminated another 14% of its employees. Former Social Security Administration commissioner Michael Astrue says those in the Trump administration trying to drive change don't understand the system and could put benefits at risk. Correspondent David Pogue reports. [Originally broadcast April 13, 2025.]
LIFESTYLE: The allure of bucket listsA recent study showed nine out of 10 participants have made a bucket list, many of which include daring feats, like skydiving. Correspondent Susan Spencer looks into the do's and don'ts of making a bucket list, and joins an 83-year-old who gets to live her dream of driving a race car, thanks to Wish of a Lifetime from AARP. [Originally broadcast April 13, 2025.]
For more info:
LIFESTYLE: How the FIRE movement is inspiring early retireesNik and Adinah Johnson retired in their forties to spend time with their kids, play golf and produce podcasts … and they're not alone. They're part of a movement that looks at work a little differently – as a means to an end. It's called FIRE (Financial Independence, Retire Early). They explain to correspondent Luke Burbank how frugality enabled them to quit the rat race, and how you can, too. But doing so might mean changing your relationship with money and stuff, Vicki Robin (co-author of "Your Money or Your Life") tells Burbank.
For more info:
Read more:
WORLD: Americans seeking retirement overseasA lower cost of living, and a sense of adventure, are leading more and more Americans to retire overseas. Correspondent Seth Doane talks with ex-pats who now live fulltime on the Mediterranean island of Gozo, part of the Maltese archipelago; and with Jennifer Stevens, executive editor of International Living, which offers advice and seminars for those considering living or retiring abroad. [Originally broadcast April 13, 2025.]
For more info:
FINANCE: The father of the 401(k)In 1981, Ted Benna created the first 401(k) plan, which allowed corporations to contribute, tax-free, to workers' retirement accounts. That allowed companies to get out of the pension business, but gave employees more responsibility over their retirement funds. "Sunday Morning" contributor Kelefa Sanneh talks with Benna about how an obscure tax-code provision led to our current financial planning for retirement (and, at a time of precipitous stock market shocks, more angst). [Originally broadcast April 13, 2025.]
For more info:
TECHNOLOGY: Meet the "grandfluencers"After Diane Shiffer retired from working as an educator and social worker, she took on a new calling: as a social media "grandfluencer." Known on TikTok as YourChubbyVintageNana, she now has nearly two million followers across platforms, as she goes all-in on "the Nana vibe." Correspondent Faith Salie talks with Shiffer, and with Barbara Costello, of Brunch With Babs, both part of a growing number of older content creators who are finding audiences and post-retirement careers in social media. [Originally broadcast April 13, 2025.]
For more info:
U.S.: A warplane retirement homeAt Davis Monthan Air Force Base in Tucson, the Arizona desert heat is the retirement setting for some of our nation's most heralded military aircraft. Correspondent Lee Cowan investigates the mission these vintage craft still perform today. He also visits the Planes of Fame Air Museum, in Chino, Calif., where old, restored warbirds once again take to the skies. [Originally broadcast April 13, 2025.]
For more info:
MOVIES: Cheech and Chong: Older and wiserThe comedy duo Richard Anthony "Cheech" Marin and Thomas Chong made their names and fortunes playing laid-back potheads. Now 79 and 87, respectively, they're back on movie screens in "Cheech and Chong's Last Movie" (which may not be an accurate title). The best buds talked with correspondent Tracy Smith about their legacy. [Originally broadcast April 13, 2025.]
To watch a trailer for "Cheech and Chong's Last Movie" click on the video player below:
For more info:
COMMUNITY: Not exactly wasting away in this MargaritavilleLatitude Margaritaville, a 55+ community, is inspired by the vibes of the late musician Jimmy Buffett. It's just one of the 800 active adult communities in the U.S., where retirees are finding community, and more. Correspondent Martha Teichner reports from the Daytona Beach community where it's always five o'clock. [Originally broadcast April 13, 2025.]
For more info:
MEDIA: AARP and the business of an aging audienceAARP began as an advocacy group for older Americans concerned about Social Security, Medicare, and family caregiving. Today it represents 110 million Americans in the 50+ demographic who are living longer and retiring later. "Sunday Morning" national correspondent Robert Costa talks with AARP's CEO, Dr. Myechia Minter-Jordan, and editorial director Myrna Blyth, about the organization's importance to an increasingly important target group for advertisers; and with actress and talk show host Drew Barrymore, who at age 50 has embraced being on the cover of AARP: The Magazine. [Originally broadcast April 13, 2025.]
For more info:
ANIMAL WELFARE: A visit to chimpanzee sanctuary Chimp HavenMore than 300 residents spend their retirement years at Chimp Haven, a sanctuary for chimpanzees, that is spread out across 200 acres in Northwest Louisiana. Correspondent Conor Knighton reports on the special care given to chimps of all ages, many of whom have given much of their lives to scientific research. [Originally broadcast April 13, 2025.]
For more info:
NATURE: Chimpanzees in LouisianaWe leave you this Sunday with retired chimps living the good life at Chimp Haven in Northwest Louisiana. Videographer: Mike Hernandez.
GALLERY: Notable deaths in 2025A look back at the esteemed personalities who left us this year, who'd touched us with their innovation, creativity and humanity.
The Emmy Award-winning "CBS News Sunday Morning" is broadcast on CBS Sundays beginning at 9:00 a.m. ET. Executive producer is Rand Morrison.
DVR Alert! Find out when "Sunday Morning" airs in your city
"Sunday Morning" also streams on the CBS News app beginning at 11:00 a.m. ET. (Download it here.)
Full episodes of "Sunday Morning" are now available to watch on demand on CBSNews.com, CBS.com and Paramount+, including via Apple TV, Android TV, Roku, Chromecast, Amazon FireTV/FireTV stick and Xbox.
Follow us on Twitter/X; Facebook; Instagram; YouTube; TikTok; Bluesky; and at cbssundaymorning.com.
You can also download the free "Sunday Morning" audio podcast at iTunes and at Play.it. Now you'll never miss the trumpet!
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
How to improve your credit score with a personal loan
Key takeaways Personal loans can boost your credit score by adding to your credit mix and reporting a positive payment history. There are some risks associated with applying for a personal loan, including hard credit inquiries, additional debt and lender fees. Other ways to build credit include applying for a secured credit card, becoming a cosigner or an authorized user on a credit account and reporting alternate payments. Although they're a form of debt, personal loans can also serve as a tool to build credit. But just because they're a good credit-building tool for some doesn't mean they're the right strategy for you. Consider all the moving pieces and other options before deciding to use a personal loan to build your credit. How do personal loans build credit? There are five factors that make up a credit score, each with a different weight. While it's important to excel in all areas, the ones with the biggest impact are paying on time and keeping your balances low compared to your available credit. Collectively, the three main ways a personal loan can benefit your credit account for 75 percent of your score. Build a positive repayment history: When you take out a loan, most lenders report your payment activity to the three major credit bureaus: Experian, TransUnion and Equifax. On-time payments have a positive impact on your credit, as payment history accounts for 35 percent of your FICO Score. Add to your credit mix: Having different types of credit accounts in good standing shows lenders that you can manage various debts responsibly. By adding a personal loan to your report, you're contributing to the diversification of your credit mix, which makes up 10 percent of your score. Reduce your credit utilization ratio: If used to consolidate revolving debt, such as credit cards and lines of credit, personal loans can reduce your credit utilization ratio. This accounts for 30 percent of your FICO Score and measures how much credit you've used relative to your available limit. Getting a personal loan may impact credit at first It's important to note that when you first get your loan your credit may take a small, temporary hit. That's because your lender will perform a hard credit check when qualifying you for the loan. And since the loan is brand new, it will lower the average age of your credit. These categories, however, make up a small portion of your score. Which personal loans can help build credit? If paid consistently, any personal loan can be a positive addition to your credit reports. Regardless of the route you go, the type of loan you take out should be good for more than just improving your credit score. Debt consolidation loans Getting a debt consolidation loan allows you to combine several debts into a single debt with one interest rate and monthly payment. The money from the loan pays off the other debts, then you make payments to the loan instead. This can help your credit in a few ways: If you pay off your credit card balances, you'll free up available credit and lower your credit utilization ratio. It could also improve your credit mix, since credit-scoring models like to see a variety of revolving debt and installment loans. Having one payment instead of many can be more manageable and help you avoid missing payments. Consolidating your debt only makes sense if you're offered a lower interest rate on your new loan than what you paid on your previous debts. Otherwise, you risk paying more in interest accrual over the life of the loan. To qualify for the best debt consolidation loan rates, you or a cosigner will need to have a solid credit score — typically 740 or higher — and have a stable source of income. Bankrate tip Use a debt consolidation calculator to see how much you can save with a consolidation loan and determine if it's the best option for your financial goals. Credit-builder loans Unlike traditional personal loans that provide funding upfront, a credit-builder loan requires you to make fixed monthly payments over a set period, usually six to 24 months, before you receive the funds. Once the loan is paid in full, with interest, you'll receive the funds to use however you see fit. A few good-use examples include: Building an emergency fund. Paying down other debts. Contributing to retirement. Investing. Making a down payment on a home. Making a large purchase. The primary goal of these loans is not to get access to the money you need right away. Instead, it's to establish a positive payment history that builds your credit score, since those payments are reported to the credit bureaus. 'You should consider a credit-builder loan if you have a thin or spotty credit history and are hoping to improve your overall financial health,' Pentis says, who recommends having a clear and consistent budget before borrowing to ensure you can make your payments. Risks of using loans to build credit Although applying for a personal loan can help you build credit, this also translates to more debt in your portfolio. Potentially high rates: Personal loan rates range from just below 6 percent to 35.99 percent. If you have a FICO score below 670, a personal loan may have more drawbacks than benefits. That's because bad credit loans tend to come with much higher interest rates and fees compared to other loans, which can make repayment more difficult. Initial hard inquiry: When you apply for a personal loan — or nearly any form of credit — you'll get what's known as a hard inquiry on your credit report. Hard inquiries can cause your score to drop by a few points, but the effect is temporary, and it's generally easy to counter with on-time payments. Risk of credit damage: Falling behind on payments and defaulting on the loan could cause significant harm to your credit file. Just as a positive payment history can build your credit, missing payments can cause your score to fall. Missed payments can impact your credit score for up to seven years. More debt: Depending on your financial situation, taking out a loan, and in turn increasing the amount of debt you owe, can make it more difficult to achieve your financial goals, like saving for a home or retirement. Carefully evaluate your situation before committing to new debt. Remember, you shouldn't take out a loan if it will cause financial hardship. Alternatives to personal loans to help build credit If a personal loan isn't the best way for you to build credit, these alternative methods — when used responsibly — can help boost your score over time. Secured card Secured cards require you to put down a deposit in a separate account, which acts as your credit limit. This can make the card easier to qualify for than other debts. When used responsibly, a secured credit card helps build credit in a way that's similar to a personal loan — with a positive payment history, low credit utilization ratio and diverse credit mix. If you fail to repay the balance as agreed, however, the lender or issuer can seize your deposit to recoup its losses, and your credit score will sustain damage. There are other consequences to consider, according to Kelton. 'If you spend more than your credit limit, the issuer may decline future transactions, charge a fee and withhold your deposit,' she says. 'It's also best to avoid carrying a balance on the card so you don't accrue interest.' Joint accounts Cosigning a loan or becoming an authorized user on a credit card can help build your credit, since both you and the account holder will benefit from a positive payment history. 'The account shows up on your credit report, along with the payment history and credit utilization ratio,' says Kelton. 'You're able to use the card to make purchases, but the primary account holder is responsible for payments.' Even if you aren't responsible for payments, Kelton warns that the account holder's behavior will affect your score. If they pay late or rack up a large balance, that will also be reflected on your credit. Cosigning has additional serious implications because you're legally responsible for repayment of the loan if the primary borrower falls behind. That means you'll take a credit hit and be financially responsible for repayment. Alternate payment histories Some services, like Experian Boost, allow you to get credit for paying everyday bills, such as streaming services, monthly subscriptions and utilities, which typically aren't reported to the credit bureaus. You can also ask your landlord to report your rent payments to improve your score. Buy now, pay later Buy now, pay later allows you to break purchases up into smaller payments over time without credit score requirements and, in the past, didn't affect credit scores. 'Buy now, pay later historically hasn't had much of an impact on credit, but that's changing,' Kelton says, noting that some BNPL lenders are starting to report to credit bureaus. 'Soon, you may be able to build credit by using BNPL responsibly, and it's often easier to qualify for than other loan or credit types.' However, Kelton warns not to use them for smaller purchases you can't afford. 'If you're not able to cover a relatively small purchase all at once, it simply may not fit in your budget right now.' Learn more: When to use BNPL versus a credit card Bottom line Personal loans can help you build credit if you use them to consolidate debt or establish a positive payment history. If you choose to use a personal loan for credit building, remember to consider the risks involved. If you'd rather avoid taking on additional debt just for the sake of building credit, consider becoming an authorized user on someone's credit card or reporting your everyday bills via a third-party service. Both options could improve your score without incurring any major financial risks. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 minutes ago
- Yahoo
Celtics owner makes offer to purchase the WNBA's Connecticut Sun
With the NBA season still months away from starting, the Boston Celtics' minority owner, Steve Pagliuca, seemed to feel extra ready to be a part of some more basketball. According to reports, Pagliuca and his group made an offer to purchase the Connecticut Sun for $325 million. "The sale price would be the highest ever for a professional women's sports franchise," said Gary Washburn of the Boston Globe. Pagliuca's goal in the purchase is said to transition the Sun franchise from Uncasville, Connecticut, to Boston, Massachusetts. This will be the second time the Sun franchise will be relocating. They moved from Orlando, Florida, in 2003. The Sun has yet to win a WNBA championship, but has reached the WNBA Finals four times in its existence, with its last being in 2022. Currently, the Sun is in a rebuilding process with new head coach Rachid Meziane. The team is currently in last place in the WNBA with a 5-21 record. The franchise's current venue, Mohegan Sun Arena, is one of the WNBA's smallest arenas, and the franchise doesn't have a dedicated practice facility for the team. The sale is still in its early stages and would need approval from the WNBA and league governors. A point of conflict has emerged, as the league still has plans to save Boston as a potential expansion city for a team in 2033. "The Sun sent a letter to season ticket-holders, ensuring the club will play at Mohegan Sun Arena in the 2026 season. The Boston group is targeting a 2027 move and would potentially play early season games in Providence to avoid any conflict with Bruins and Celtics playoff games," Gary Washburn wrote in his article detailing the bid. "The WNBA has yet to comment on the potential sale."
Fox News
11 minutes ago
- Fox News
Trump claims weak July jobs report was ‘rigged'
M2 Communities CEO Mitch Roschelle joins 'Fox News Live' to discuss President Trump's firing of the Bureau of Labor Statistics commissioner following a weak July jobs report and concerns the data was 'rigged' for political purposes.
