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…
The Advantages And Disadvantages Of Raising The Retirement Age
Category: Retirement
What Is a Reverse Mortgage & What Does It Mean to Me?
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…
NCOA Launches Online Tool to Help Older Adults Manage Finances
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…
How and When to Tap Home Equity in Retirement
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…
The Challenges of Living Alone in Retirement
In a recent column published by theStreet.com, financial planner Sandra Adams highlights recent Census Bureau data suggesting that 36 percent of American households are currently occupied by single…
Goldman Sachs: Competing Priorities Hinder Retirement Saving For Women
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…
Survey: Cost-of-Living Adjustment Not Enough for Many Retirees
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…
What is a reverse mortgage and how can it help you make ends meet?
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…
Report: Almost Half of Baby Boomers Still Working Past Age 70
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…
Social Security Announces 8.7 Percent Benefit Increase for 2023
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…
Kiplinger: Worried About Inflation? A Reverse Mortgage Can Generate Cash
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…
Study: Oregon’s Auto-IRA Program Making Progress
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…
Syndicated Columnist Recommends Reverse Mortgage Over HELOC
Washington Post nationally syndicated personal finance columnist Michelle Singletary recommended to one of her readers this week that she consider a reverse mortgage to help finance home improvements. The…
Congress to Debate Retirement Savings Bills
Expanding access to retirement savings accounts remains a hugely popular issue for congressional lawmakers from both parties. When they return from their summer recess in September, lawmakers will…
Survey: 70% of Retirees Have This Regret
More than two-thirds (70%) of American retirees wished they had saved more and planned earlier for retirement, according to the 2022 Retiree Reflections Survey, published recently by the Employee Benefit Research…
What Does Retirement Look Like By Generation?
For many, retirement can feel a bit like a fairy tale. When you’re young and working, it might seem like slow-building retirement savings (if you have any) might…
AARP: Over Half of Older Americans Happy With Finances
A new survey from AARP finds that just over half of Americans in their 70s (51%) and 80s (52%) rate their financial situation today as excellent or very good. When…
In the age of inflation, there are steps you can take to deal with higher prices
MarketWatch interviewed several financial planners to find out what they’re recommending to their clients to lessen the impact of increasing inflation. The general consensus is that consumers should develop…