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Category: Retirement

  • Managing Finances For A Loved One With Dementia

    Once we hit age 71, our risk for Alzheimer’s disease and other dementias goes up. Research shows that nearly 14% of those aged 71 and up have dementia and nearly 10% have been diagnosed with Alzheimer’s disease. The risk of both dementia and Alzheimer’s disease only increases with age. Financial woes, of course, don’t begin […]

  • How to Protect Yourself and Avoid Reverse Mortgage Scams

    Should you get a reverse mortgage? Avoid the scams first For people aged 62 and up, a reverse mortgage may seem like a tantalizing opportunity. After decades of sending in your monthly mortgage payments, you’re now getting money from your bank. A reverse mortgage siphons off the equity in your home and sends the cash […]

  • How to Make Retirement Savings Last

    How to make your retirement savings last About half of Americans have some sort of retirement account, according to the Federal Reserve Bank’s 2019 Survey of Consumer Finances, and the median value of that 401(k) or individual retirement account runs around $65,000. The average American, who retires around the age of 63 or 64 and […]

  • How to Prioritize Your Bills During Challenging Times

    How to prioritize bills when you can’t pay them all If you’re scrambling to pay your bills each month, you’re not alone, especially during the COVID-19 pandemic. Learning how to best prioritize your bills during these times, can help alleviate some of those stresses. According to one report released in September, 46% of Americans were […]

  • 5 Ways to Prevent Senior Financial Scams

    Senior financial scams are a growing problem nationwide. Your aging loved ones may have spent a lifetime saving for retirement, but they could lose it all if they fall into the hands of the right con artist. Consider these startling statistics: Older adults lose approximately $2.9 billion each year from financial scams and exploitation, according […]

  • Should I Consider Early Retirement?

    The COVID-19 pandemic is prompting some Americans to opt in to early retirement. An April 2020 report from the National Bureau of Economic Research that analyzed a survey of U.S. households found a “large increase” in the number of those who claimed to be retired — from 53% to 60% of people who were not […]

  • Retirement Savings for the Self-Employed

    Most adults are familiar with a 401(k) and how important it is to save for retirement, but what about those individuals who are not employed by a company or organization? How does retirement savings for the self-employed work? How they can save for retirement and receive the benefits of tax-deferred saving? Unlike an employee who […]

  • When Should You Take Social Security Benefits?

    What You Should Know About Taking Social Security Benefits For many Americans, retirement seems out of reach. According to a report from Northwestern Mutual, 21% have no retirement savings and 33% of Baby Boomers, who are retiring now, have less than $25,000 saved up. And while more than half of Americans believe that Social Security […]

  • 6 Tips For Women to Take Control of Their Retirement Planning

    As women take on retirement planning, they have a lot riding against them. Study after study show that women earn less than men and typically take more time away from the workforce to care for children and aging family members. Women, more often, work part-time, making them ineligible for benefits such as job-sponsored retirement funds. […]

  • How Do Social Security Survivor Benefits Work?

    When it comes to retirement in the United States, researchers don’t paint a pretty picture. According to the National Institute on Retirement Security, the retirement savings deficit totals as much as $14 trillion. For women, the gap between what’s needed to afford more than the essentials in retirement and what’s actually in hand is especially […]

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