Retirement

Spousal benefits are probably the most misunderstood Social Security benefit. Ex-spousal benefits may seem even more convoluted. To keep things simple, ex-spousal benefits are basically the same as current spousal benefits with certain exceptions. There are two categories of divorced spouses. If you are divorced two years or less, your ex-spouse must be receiving their

The May 2023 jobs report may give the Federal Reserve another reason to pause on interest rate hikes and another reason new graduates should not burst into the interview room asking for a big raise and remote work. Workers may have a harder time getting the pay and perks they saw just last year. Worker

We’re at the halfway point of 2023, and it’s been a year of financial anxiety. The U.S. continues to experience high inflation and rising interest rates and there have been multiple bank collapses, all while layoffs and overall economic uncertainty continue. In fact, the CNBC All-America Economic Survey found that 69 percent of the U.S.

The self-employed and those who run private practices must manage a whole myriad of concerns, which regular employees do not. But there are ways that the self-employed benefit from the status, and there’s no better example of that than with retirement plan options. It’s a tool, however, that those that work for themselves are often

Twenty-year-olds are saving for retirement. These are Generation Z’s, whose members were born between 1997 and 2012. Their efforts embrace several key points for a successful retirement plan, including the role of mentors. Starting Early By starting young in saving for retirement, Generation Z will greatly benefit from the math of compounding, which will grow

After housing, transportation is the second-biggest expense for Americans age 65 and older. This demographic spent a mean of $7,160 on transportation in 2021, according to the U.S. Bureau of Labor Statistics. That’s about $600 per month. Keep in mind that 2021 was a pandemic year. People weren’t driving nearly as much as they would

Artificial intelligence is advancing so rapidly, it can be hard to speculate about its effects on elders. What we can see is that applied to healthcare, it could be very positive. For older adults with multiple chronic conditions, there are different doctors with different perspectives, each a specialist in one thing. For anyone who has

As a retirement writer who is working past his normal retirement age, I’ve witnessed a lot of people transition from work to retirement. And I’ve noticed that a source of stress for many is determining which things have to happen at retirement versus which decisions can wait. While every retirement is unique, these are my

Several years ago, a Cambridge study suggested auto-enrollment alone would not solve the dilemma of too few younger employees saving enough for retirement. More recently, the Society for Human Resource Management’s 2020 Employee Benefits report concluded, “51 percent of respondents automatically enroll new or existing employees into a 401(k)-type plan, up from 39 percent in

According to a new release by the 2020 Census, demographic change has accelerated in the United States in the past 10 years. Especially the group of those aged 65 years and older has grown more quickly, the data shows. While in the year 2010, 12.8% of Americans were 65 years or older, that had jumped

Investors frequently are told that they are long-term investors, so they shouldn’t worry about fluctuations in the markets. They are told to invest and hold for the long-term. But the data show that when you buy stocks makes a big difference in your long-term returns, according to Bespoke Investment Group. An investor who made a

Tax return season is over, but there are tax-saving opportunities to consider between now and the end of the year. Here are a few IRA strategies to review and consider. Qualified charitable distributions (QCDs). If you’re over age 70½, have a traditional IRA, and make charitable contributions, you probably should be making those charitable contributions

Although many realtors are ethical and honest, it’s no secret that many are not. Here at AgingParents.com, we hear too many sad stories of older adults getting ripped off over the sale of the elder’s residence. One can readily understand how this happens. An eager realtor hears of a sale opportunity. The elder does need

The United States Social Security website, quite frankly, is a very informative website. The website contains many useful tools and has a wealth of information available to you. Plus, it is quite easy to navigate. As you approach retirement, you should become familiar with the website. When you reach the website, there are several areas

Americans fear Alzheimer’s disease more than cancer, stroke, and heart disease combined, according to a survey conducted by the Milken Institute. While the risks of Alzheimer’s are well known, what’s lesser known is that many seniors experience mild cognitive decline or other forms of dementia in their 80s and beyond; these conditions often impair their

A recent survey has announced something you already know. The Employee Benefit Research Institute conducted an online survey in late January and early February. It found that retirement confidence among workers has dropped to 64%. This is the lowest level since 2008 when America was on the cusp of its credit-crunch recession. The 2023 ICI

For parents, trying to navigate retirement savings and college tuition at the same time—while also having enough money to cover expenses and keep a decent quality of life—can feel impossible. As a financial advisor, I am often asked some form of this question: Should I put off saving for retirement to save for my children’s

Rhonda and Doug had seen a few warning signs that their very difficult aging mother, Anika, was in trouble. Even as she got increasingly frail, she hadn’t seen a doctor in years. She refused to go. They didn’t spend much time with her, as she never had anything good to say, but they did care

There’s a small industry of professionals who offer to help people of a certain age restructure their affairs so they’ll qualify for Medicaid. The goal is to have Medicaid pay for any nursing home care they might need. The strategy isn’t a good one for many people. First, let’s make a distinction clear. Medicare is

Tax planning doesn’t necessarily get easier as you age. There are times when taxes get more complicated as you get older. When taxes are complex, there are more opportunities to benefit from proactive tax planning. This could be good news in the form of tax deductions and tax credits. Tax often feels more complicated as