Retirement

Getty Financial exploitation of older Americans seems to be getting worse. The Treasury Department reported a 17% increase in the number of cases in 2017 vs. 2016, the latest figures available. And the Center for Financial Services Innovation says at least 20% of older adults have been victims of elder financial fraud. But there’s one

It’s time to give credit where credit is due: millennials understand retirement in a way that no … [+] other generation has. Getty It’s time to give credit where credit is due: millennials understand retirement in a way that no other generation has. Retirement isn’t what it used to be. In previous generations, people punched

Getty One problem with those often depressing online calculators telling you how much you need to save for retirement is that they assume the traditional definition of retirement. You know, the one that figures you’ll stop working at 65 or so, full-stop. As the new episode of the Friends Talk Money podcast on personal finances

Getty This might be the most asked question I receive. My typical response to this question is there are as many good reasons as bad reasons to file early, and, there are as many good reasons as bad reasons to file later. This article is written for single people who have never been married and

As clients get older, they often start to feel obligated to retire. They love working, but they are 65 or older and all their friends are doing it. The traditional concept of retirement is called a “cliff retirement” because it is so abrupt. One day you are working full time, and the next you are

Getty This week the federal government announced new dollar limits for contributions towards retirement plans and certain deferred compensation plans for 2020 People over 50 can now elect to contribute $26,000 in their 401(k)-type plan. That is $26,000 of earned income.  This boost is good news for whom, exactly? It is likely irrelevant for the

How does a longer life expectancy affect your IRA? Getty IRA Required Minimum Distribution (RMD) math is complex and serious. Owners of IRAs must take a distribution starting no later than the April 1 of the year following the year the owner becomes age 70 ½. This number will likely change with the new SECURE Act

Sarah McKinney Gibson, Encore.org and Next Avenue Contributor Co-mentors Ashley Moy and Tonise Paul Cast21 Ageism happens to young people, too. Just ask Ashley S. Moy, 25, founder and CEO of the Chicago medical startup, Cast21, which provides waterproof cast and brace alternatives for patients with broken bones. “I’ve had people say, ‘Oh my gosh,

journey concept showing a man with robot looking at a new colony in the alien planet, digital art … [+] style, illustration painting Getty I’m not quite sure how I stumbled on the book The Year 2000 for the first time. My memory says this was in the library – but at the same time,

Getty The Centers for Medicare & Medicaid Services has announced Medicare Part B premiums for 2020, and the base premium increases nearly 7% from $135.50 a month to $144.60 a month. That $9.10 monthly increase compares to a modest $1.50 monthly increase last year. Meanwhile high earners are still getting used to income-related surcharges that

null Getty Are interest rates heading to zero in the US? Or, dare I say, negative range? I don’t think so. But if they do, real estate investment trusts (REITs) are going to absolutely skyrocket. This year-to-date has been a sneak preview. Most REITs have seen their valuations expand with the market rally, but we

Getty In the realm of financial planning, there are numerous rules and guidelines which must be followed in order to stay clear of significant problems. Many times, once an error has been committed it can either not be unwound or it takes significant time and cost to rectify. One specific area where this holds especially

Getty It’s benefits season, and that means employees are making mistakes that will cost them in headaches and dollars. “You really have to sit down and pay attention to your benefits like you never had to before,” says Judith Wethall, an employee benefits lawyer with McDermott Will & Emery in Chicago. It’s complicated enough if

By Elizabeth Alterman, Next Avenue Contributor Ruth and Al Brod and family in their dining room Ruth and Al Brod When Ruth Brod retired from her job as a probation officer in 2004, she and her retired husband, Al, decided to sell their 1,600-square-foot house in New Hyde Park, N.Y. and move into a 2,800-square-foot

raccoon in a trash can Getty Most stocks that pay more than 10% are, honestly, trash. Their yields usually look big because their stocks have split once or twice “the wrong way.” Take Tupperware Brands (TUP), for example. The party ended abruptly for these shareholders. I feel bad for anyone who was mistakenly holding these

Getty Stop me if you’ve heard this one before: the earnings gap between men and women affects not merely their living standards in the short-term, but also their well-being in retirement. There’s nothing surprising here. But the whole discussion is very narrowly focused on income. There’s an elephant in the room: marriage. Let’s start with

Trickle-down tax cuts do not build a strong middle class Getty Many families still struggle financially, even though the economy has been on the mend for more than a decade. It becomes increasingly clear that something must fundamentally change for a broad and secure middle class to reemerge. Real economic security for more families won’t

Businessman looking tired while working at his office desk Getty Real estate investment trusts (REITs) are on fire—and we need to be very careful not to get burned. Here’s the twist: there’s plenty more upside ahead—and you can thank the Fed for that. Its latest rate cuts will keep powering REITs higher, for two reasons:

(Rancho Santa Fe, CA)Clinical Pharmacist Jason Kim consults patients with Medicare questions (Photo … [+] by Mark Boster/Los Angeles Times via Getty Images) Los Angeles Times via Getty Images One of the biggest misconceptions seniors have about health care is this: I have Medicare so don’t need to worry about medical costs in old age. It

Retiring early has obvious advantages, but it can also have disadvantages. Early retirement is often envisioned as ditching the daily grind for a worry-free lifestyle in your 50s and 60s. However, if you are not properly prepared, a tighter budget might make that lack of the daily grind seem less enjoyable. However, if you are