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Category: Retirement

Resources and Support for Older Adults Living Alone: A Comprehensive Guide (2023)

by Darryl Hicks | July 31, 2023

The National Council on Aging has put together a comprehensive guide of resources for older adults living alone, empowering them to thrive independently and access essential services. As more… Resources and Support for Older Adults Living Alone: A Comprehensive Guide (2023)

A Comprehensive Guide to Downsizing Your Home (2023)

by Darryl Hicks | June 14, 2023

More Americans have been downsizing their living spaces in recent years. According to Realtor Magazine, people looking to downsize accounted for 28% of real estate transactions in 2020. Although more… A Comprehensive Guide to Downsizing Your Home (2023)

NCOA: 47 Million Older Households Facing Financial Risks

by Darryl Hicks | May 4, 2023

Eighty percent of U.S. households with older adults, or roughly 47 million households, are financially struggling today or are at risk of falling into economic insecurity as they more… NCOA: 47 Million Older Households Facing Financial Risks

401(k) Retirement Accounts Could See Some Big Changes

by Darryl Hicks | April 21, 2023

To help alleviate retirees’ biggest concern that they will run out of money in retirement, two of the world’s largest retirement plan providers, State Street Global Advisors and more… 401(k) Retirement Accounts Could See Some Big Changes

Americans Need $1.1M For Retirement, But Few Think They Will Get There

by Darryl Hicks | April 6, 2023

Working Americans ages 45 and older believe it will take $1.1 million in savings to retire comfortably, yet the majority (59 percent) expect to have less than $500,000 more… Americans Need $1.1M For Retirement, But Few Think They Will Get There

America’s Retirement Score’ Drops to 78

by Darryl Hicks | March 23, 2023

Fidelity Investments® released its latest Retirement Savings Assessment, which revealed that America’s Retirement Score has moved back into the yellow to 78, a five-point decline from an all-time more… America’s Retirement Score’ Drops to 78

The Advantages And Disadvantages Of Raising The Retirement Age

by Darryl Hicks | March 9, 2023

After increasing the retirement age based on birth year a dozen times for those born between the years of 1937 and 1960, the retirement age has remained the same for more… The Advantages And Disadvantages Of Raising The Retirement Age

What Is a Reverse Mortgage & What Does It Mean to Me?

by Darryl Hicks | February 20, 2023

A reverse mortgage is an increasingly attractive proposition for older Americans who may be low on cash, need to supplement retirement income, and want to use their home equity to more… What Is a Reverse Mortgage & What Does It Mean to Me?

NCOA Launches Online Tool to Help Older Adults Manage Finances

by Darryl Hicks | February 10, 2023

The National Council on Aging launched Budget CheckUp, a free online tool that gives older adults practical tips on how to create a monthly budget and manage their more… NCOA Launches Online Tool to Help Older Adults Manage Finances

How and When to Tap Home Equity in Retirement

by Darryl Hicks | January 27, 2023

Home equity (how much you owe on your mortgage subtracted from how much your home is worth) can be a useful and often overlooked retirement asset, according to more… How and When to Tap Home Equity in Retirement

The Challenges of Living Alone in Retirement

by Darryl Hicks | January 12, 2023

In a recent column published by theStreet, financial planner Sandra Adams highlights recent Census Bureau data suggesting that 36 percent of American households are currently occupied by single more… The Challenges of Living Alone in Retirement

Goldman Sachs: Competing Priorities Hinder Retirement Saving For Women

by Darryl Hicks | December 15, 2022

While women control one third of U.S. household financial assets ($10.9 trillion) and comprise 47 percent of the workforce, many of them struggle to save adequately for retirement more… Goldman Sachs: Competing Priorities Hinder Retirement Saving For Women

Survey: Cost-of-Living Adjustment Not Enough for Many Retirees

by Darryl Hicks | November 30, 2022

A recent survey of 750 American retirees conducted by Motley Fool found that 55 percent don’t believe the 8.7 percent cost-of-living adjustment for 2023 announced by the Social Security Administration more… Survey: Cost-of-Living Adjustment Not Enough for Many Retirees

What is a reverse mortgage and how can it help you make ends meet?

by Darryl Hicks | October 28, 2022

Fortune published a balanced and informative article on reverse mortgages that examined how they work, key differences between HECMs and proprietary loans, and the pros and cons of getting more… What is a reverse mortgage and how can it help you make ends meet?

Report: Almost Half of Baby Boomers Still Working Past Age 70

by Darryl Hicks | October 21, 2022

A new survey from the Transamerica Center for Retirement Studies® finds almost half of Baby Boomer workers (49 percent) expect to or already are working past age 70 more… Report: Almost Half of Baby Boomers Still Working Past Age 70

Social Security Announces 8.7 Percent Benefit Increase for 2023

by Darryl Hicks | October 14, 2022

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social more… Social Security Announces 8.7 Percent Benefit Increase for 2023

Kiplinger: Worried About Inflation? A Reverse Mortgage Can Generate Cash

by Darryl Hicks | September 20, 2022

Kiplinger conducted a survey that found more than 70% of individuals age 50 and older are concerned that inflation will cause serious economic hardship during their retirement. In more… Kiplinger: Worried About Inflation? A Reverse Mortgage Can Generate Cash

Study: Oregon’s Auto-IRA Program Making Progress

by Darryl Hicks | September 1, 2022

Over the past decade, since 2012, at least 46 states have acted to implement a new program, study program options, or consider legislation to establish state-facilitated retirement savings more… Study: Oregon’s Auto-IRA Program Making Progress

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