Retirement

Volunteer reads a book to elementary students getty What does it take to live well in retirement? Good health, sound finances, supportive family and friends, and a fourth ingredient – a strong sense of purpose in life. Retirees with strong purpose are happier and healthier, more active and socially engaged, and they live longer. Marc

getty There’s more evidence that you can’t depend on the Social Security Administration (SSA) to give good advice or ensure you receive all the benefits the law allows. You need to know the rules and doublecheck SSA’s numbers. The latest evidence comes from SSA itself through two audit reports from its Office of Inspector General

Many Older Workers Struggle In The Pandemic. getty The recession of 2020 is a retirement crisis recession. Millions of older workers quickly lost their jobs, while the pandemic also sharply increased risks to their health. Older workers often confronted the unenviable choice of retiring without enough money or working longer and facing massive financial and

Thoughtful mature woman working at laptop thinking about the pandemic and whether she should retire … [+] now. getty The pandemic is wearing everyone out, and Baby Boomers are no exception. Individuals who were planning to retire two or three years from now are changing their minds. In the third quarter of 2020, Pew Research

An often-overlooked component of a comprehensive retirement plan is an estate plan. Most people are still employed when they begin their planning, and they see retirement as the next step in life’s journey. As I used to tell clients, however, “while I want to bet for you, not against you, it’s still important to consider

Asian women have suffered more in this recession than in prior ones. getty This recession has brought a lot of suffering for people looking for a new job. This is especially true for many Asian workers. And things could get much worse for these workers, mainly women, as the labor market is slowing amid the

Whether you have older parents, grandparents or other loved ones of modest means, you have one thing in common in the U.S.—running out of money can force your loved one into a nursing home. The frightening truth about infection in nursing homes emerged almost immediately when we saw the first cases in the facility in

BOSTON, MA – SEPTEMBER 2: A Care partner helps a resident at an assisted living facility. (Photo by … [+] Craig F. Walker/The Boston Globe via Getty Images) Boston Globe via Getty Images As the Covid-19 pandemic explodes around the country, cases and deaths among nursing home residents increasing rapidly as well. A new analysis

By Next Avenue getty (This article is the ninth in a weekly joint series on Covid-19 and the Future of Aging from the Milken Institute Center for the Future of Aging and Next Avenue. The articles are Q and As with thought leaders in fields ranging from health care to retirement planning to work to

getty Are you one of the many Americans who work for a small company? Don’t be surprised, but chances are if your company doesn’t employ thousands of workers, it may qualify as a small company. It all depends on your industry. The Small Business Administration defines at what size a business can be classified as

Despite new challenges brought on by COVID-19 in 2020, retirement planning remains a core part of financial security. All retirement planning is deeply personal. It is not just about saving money, reducing taxes, or having money that lasts a lifetime – it is about accomplishing goals and living with dignity throughout life. Because of this

One million older workers have left the labor force amid the pandemic. getty Job growth is slowing amid surging coronavirus infections. Many workers 55 years old and older are leaving the labor force in droves, while others keep working, even at high risks to their health and that of their families. More than a million

getty Over the past quarter-century, the American labor market went through a quiet transformation. The share of workers 55 or older more than doubled, rising from 12% in 1995 to nearly 25% in 2020. At no point in U.S. history have older workers been more essential, and economists predict the trend to continue. Yet this

If you are considering large gifts and you’re able to use your IRA, there’s no more tax-efficient … [+] gift you can make. getty Every December, our attention turns to holiday celebrations and gift-giving, and while the pandemic may impact family gatherings in 2020, it’s still a wonderful time of year. It’s also a natural

Retirees can plan for giving to family responsibly. And don’t forget other ways to give! getty It’s that time of year when many retirees think about financially helping their adult children and grandchildren or donating to the charitable causes they care about. At this stage in life, it’s quite natural that retirees want to give

By Kerry Hannon, Next Avenue getty Running a home business can be lonely, especially during the pandemic. But creating a support group of other entrepreneurs working at home can be the solution — and it could boost your profits. Just ask Russ Eanes, 63, who founded the editing and self-publishing business Walker Press three years

Economic Security Planning, Inc. Today’s column addresses questions about when and whether delayed retirement credits (DRCs) are applied to benefit rates, eligibility of exes to file for benefits on a person’s Social Security record and pensions based on work not taxed by Social Security. Larry Kotlikoff is a Professor of Economics at Boston University and

This is the strangest holiday season of a lifetime, isn’t it? We get warnings about not visiting during holidays of all kinds and the rates of infection keep going up. Given that it’s inarguable now that the rates of infection by Covid-19, hospitalizations and ICU admissions are worse that ever, we have to consider the

getty Is Social Security a “pension benefit”? Not really. It’s a social insurance program, which means something entirely different. As I I explained last month, Social Security is meant to provide a baseline level of retirement provision for all American workers. We contribute for our entire working lives, but our contributions aren’t about directly “earning”

Saving for two when one partner is the primary breadwinner or a stay-at-home parent can be … [+] challenging. getty How should married couples save for retirement with only one income? Saving for two when one spouse is the primary breadwinner or a stay-at-home parent can be challenging depending on your income. Fortunately, with proper