Retirement

It’s a widespread problem, not often in the spotlight: an elder who is dependent on drinking or drugs. The sad downward spiral of those aging parents who already face age-related health problems is hastened by the use of habit forming substances. What Dependency Is Most Common In Older Adults? Data from the National Survey on

Europe has a reputation for high taxes… but this isn’t always fair. In fact, there are many low-tax and even-no tax schemes in place in various countries, which investors, businesses, retirees, and even remote workers can take advantage of. These schemes are always subject to change or even cancelation… so I always advise people to

Fidelity Investments recently released its annual estimate of healthcare costs in retirement. The scary numbers indicate the average person older than 65 years old may spend $157,500 in out-of-pocket expenses for healthcare in retirement. A couple may pay an average of $315,000. Middle-aged Millennials should take note, this is not just a Baby Boomer problem.

The federal government recently released two important changes that are relevant to seniors. Social Security announced more than 71 million Americans will see a 3.2% increase in their Social Security benefits. On average, that’s about $50 a month, starting in January. (Read all about that here.) The Centers for Medicare & Medicaid Services released the

Do an internet search on the Inflation Reduction Act. You’ll find several sites that mention deficit and carbon emissions reduction, investment in domestic energy production, and Medicare prescription drug negotiation. Buried somewhere in the text of the act is one change that will have an immediate impact in 2024: the elimination of the 5% coinsurance

Some words get overused to the point that their true meaning is obscured. I’m pretty sure if we could scan all the company mission and values statements, most of which have gathered dust since their initial articulation, the word “integrity” would be among the Top 10 invoked—maybe the Top 5. Of course, with the benefit

On October 12, 2023, there were two important press releases relevant to seniors. Social Security announced that more than 71 million Americans will see a 3.2% increase in their Social Security benefits. On average, that’s about $50 a month, starting in January. (Read all about that here.) The Centers for Medicare and Medicaid Services released

Few thing symbolize our independence like driving a car when and where we want to. For aging parents, there is nearly always an end to that independence at some point. But when do they reach that point? Often, aging parents’ gradual decline in ability can be hard to spot when adult children don’t live with

Even if you’re not a Swiftie, it’s nearly impossible to escape the hype surrounding Taylor Swift’s new album, tour, and movie. In fact, some would argue that she is the economic story of 2023. On the opening night of The Eras Tour at State Farm Stadium, the concert brought in more revenue for local businesses

Share to Facebook Share to Twitter Share to Linkedin Social Security benefits will increase 3.2% in 2024 for the nation’s 71 million recipients, raising the average monthly check for a single retired worker to $1,907, up $59 from $1,827 this year, and for a retired couple both receiving benefits to $3,033, up $94 from $2,939

Medicare has a notorious history of not treating vaccinations equally. Here’s an example from Ed, one of my clients. My physician’s office contacted me because I was due for my DTaP (diphtheria, tetanus, and pertussis) booster. I made an appointment. Then, I got the vaccine and a bill for $148 ($101 vaccine and $47 administration).

The 4% rule seems so simple. Multiply your savings by 4%, and that’s how much you can spend the first year in retirement. After that, adjust your spending by the rate of inflation. It’s simple, right? Not so fast. While many people nearing retirement have heard of the 4% rule, few have read the 1994

The youngest members of Generation-X are now in their 40s, while the oldest Gen-Xers are now in their late 50s. This means it is time for Gen-X to get serious about retirement planning. Are you saving enough for retirement? Are you on track for financial freedom? Sadly, many members of Gen-X will answer no to

Retirement planning is about more than just accumulating wealth. All the money in the world won’t bring you happiness if you have no way to enjoy it. Likewise, no amount of money can buy you perfect health. However, there are things you can do today to improve your healthspan in retirement; some cost money, and

The 4% Rule seems so simple. Multiply your savings by 4%, and that’s how much you can spend the first year in retirement. After that, adjust your spending by the reate of inflation. It’s simple, right? Not so fast. While many people nearing retirement have heard of the 4% Rule, few have read the 1994

Fresh off writing about how the extensive Harvard study on human development shows us how we can invest in our personal happiness, I read a snippet in a much-anticipated new book that illuminates quite the opposite—how we can use financial planning to decrease our happiness and strip ourselves of the joy in life that is

October is Open Enrollment month. Medicare beneficiaries get a chance to make changes to their coverage. Here’s a question I received recently. “I have a retiree plan that is adequate for my medical and dental needs, but it does not cover vision care and I really need new progressive bifocals. I am considering enrolling in

Pick up a publication, turn on the TV, and you’re likely to find something like this. “Inflation Reduction Act Continues to Lower Out-of-Pocket Prescription Drug Costs for Drugs with Price Increases Above Inflation” Or this. “FACT SHEET: Seniors Across the Country Are Saving Millions of Dollars in Health Care Costs Because of President Biden’s Prescription

Peter Attia, MD, has written an excellent book on how to keep ourselves from getting common chronic illnesses with aging. It’s Outlive: The Science & Art of Longevity, which offers a clear strategy to avoid these illnesses. He refers to those which kill the majority of Americans as the Four Horsemen. They are heart disease,

Minnesota and Washington are the states that provide the best services and supports for frail older adults, younger people with disabilities, and their families, according to a new study by AARP. The worst performers: Alabama and West Virginia. AARP defines superior supports and services as those that are affordable and accessible, give families a choice