Retirement

We’re at the halfway point of 2023, and it’s been a year of financial anxiety. The U.S. continues to experience high inflation and rising interest rates and there have been multiple bank collapses, all while layoffs and overall economic uncertainty continue. In fact, the CNBC All-America Economic Survey found that 69 percent of the U.S.

Artificial intelligence is advancing so rapidly, it can be hard to speculate about its effects on elders. What we can see is that applied to healthcare, it could be very positive. For older adults with multiple chronic conditions, there are different doctors with different perspectives, each a specialist in one thing. For anyone who has

After housing, transportation is the second-biggest expense for Americans age 65 and older. This demographic spent a mean of $7,160 on transportation in 2021, according to the U.S. Bureau of Labor Statistics. That’s about $600 per month. Keep in mind that 2021 was a pandemic year. People weren’t driving nearly as much as they would

Twenty-year-olds are saving for retirement. These are Generation Z’s, whose members were born between 1997 and 2012. Their efforts embrace several key points for a successful retirement plan, including the role of mentors. Starting Early By starting young in saving for retirement, Generation Z will greatly benefit from the math of compounding, which will grow

Several years ago, a Cambridge study suggested auto-enrollment alone would not solve the dilemma of too few younger employees saving enough for retirement. More recently, the Society for Human Resource Management’s 2020 Employee Benefits report concluded, “51 percent of respondents automatically enroll new or existing employees into a 401(k)-type plan, up from 39 percent in

According to a new release by the 2020 Census, demographic change has accelerated in the United States in the past 10 years. Especially the group of those aged 65 years and older has grown more quickly, the data shows. While in the year 2010, 12.8% of Americans were 65 years or older, that had jumped

As a retirement writer who is working past his normal retirement age, I’ve witnessed a lot of people transition from work to retirement. And I’ve noticed that a source of stress for many is determining which things have to happen at retirement versus which decisions can wait. While every retirement is unique, these are my

Investors frequently are told that they are long-term investors, so they shouldn’t worry about fluctuations in the markets. They are told to invest and hold for the long-term. But the data show that when you buy stocks makes a big difference in your long-term returns, according to Bespoke Investment Group. An investor who made a

Tax return season is over, but there are tax-saving opportunities to consider between now and the end of the year. Here are a few IRA strategies to review and consider. Qualified charitable distributions (QCDs). If you’re over age 70½, have a traditional IRA, and make charitable contributions, you probably should be making those charitable contributions

Although many realtors are ethical and honest, it’s no secret that many are not. Here at AgingParents.com, we hear too many sad stories of older adults getting ripped off over the sale of the elder’s residence. One can readily understand how this happens. An eager realtor hears of a sale opportunity. The elder does need

A recent survey has announced something you already know. The Employee Benefit Research Institute conducted an online survey in late January and early February. It found that retirement confidence among workers has dropped to 64%. This is the lowest level since 2008 when America was on the cusp of its credit-crunch recession. The 2023 ICI

Americans fear Alzheimer’s disease more than cancer, stroke, and heart disease combined, according to a survey conducted by the Milken Institute. While the risks of Alzheimer’s are well known, what’s lesser known is that many seniors experience mild cognitive decline or other forms of dementia in their 80s and beyond; these conditions often impair their

For parents, trying to navigate retirement savings and college tuition at the same time—while also having enough money to cover expenses and keep a decent quality of life—can feel impossible. As a financial advisor, I am often asked some form of this question: Should I put off saving for retirement to save for my children’s

Rhonda and Doug had seen a few warning signs that their very difficult aging mother, Anika, was in trouble. Even as she got increasingly frail, she hadn’t seen a doctor in years. She refused to go. They didn’t spend much time with her, as she never had anything good to say, but they did care

The United States Social Security website, quite frankly, is a very informative website. The website contains many useful tools and has a wealth of information available to you. Plus, it is quite easy to navigate. As you approach retirement, you should become familiar with the website. When you reach the website, there are several areas

There’s a small industry of professionals who offer to help people of a certain age restructure their affairs so they’ll qualify for Medicaid. The goal is to have Medicaid pay for any nursing home care they might need. The strategy isn’t a good one for many people. First, let’s make a distinction clear. Medicare is

Tax planning doesn’t necessarily get easier as you age. There are times when taxes get more complicated as you get older. When taxes are complex, there are more opportunities to benefit from proactive tax planning. This could be good news in the form of tax deductions and tax credits. Tax often feels more complicated as

The sponsors of the House Republican debt limit bill, the Limit, Save, Grow Act, say its goal is to encourage low-income people to work. But it may have exactly the opposite effect, especially for people with disabilities. And, at the same time, it may throw family caregivers into an impossible situation—having to choose between caring

Throughout my career, I’ve seen that an overabundance of personal finance instruction is available from a litany of sources. Some of the sources are credible, but they are often conflicted. The result is that many if not most, financial recommendations clamoring for your attention are likely solving the wrong problem. “The problem with solving the

It happens to everyone. It will happen to you, too. There’s no escaping it. Sooner or later, you’ll be toiling away at your nine-to-five, and it will hit you. “I’m not going to spend the rest of my life doing this.” You might not say it out loud, but your brain certainly hears it. That’s