Retirement

French Workers Outrage Over Pension Cuts Yesterday, French workers amped up their protest over President Macron’s proposal to cut pensions by raising the retirement age from 62 to 64. Two-thirds of French school teachers went out on strike. Striking transit workers required 75% of trains and 25% of planes trips to be cancelled and striking

After increasing the retirement age based on birth year a dozen times for those born between the years of 1937 and 1960, the retirement age has remained the same for anyone born since 1960. This has prompted Congress to consider raising the retirement age again. While some may recoil at the notion, there are pluses

Planning for a successful retirement involves much more than just deciding when to stop working and then planning for fun and travel. You’re transitioning into a phase of your life that could last another 20 to 30 years. The decisions you make during your retirement transition zone—typically between ages 60 and 70—will affect your quality

With major media reporting that lawmakers are interested in upping the retirement age, you’d be right to ask yourself, “Why is this being discussed?” While Congress may concern itself primarily with the Social Security retirement age, raising that age will have ramifications for all workers. At the very least, it will force a realization that

For many people in their early careers, saving for retirement is low on the list of priorities. It can be tough to set aside money when there are more pressing bills to pay, such as student loan debt or childcare. People in their 20s and 30s are often working up to their full earning potential,

The United States has a high cost of living. The average American household spends $66,928 per year, according to the latest Consumer Expenditures report from the Bureau of Labor Statistics. More than 70% of this amount went to necessities—things like housing, transportation, food, and health care. With inflation currently running at 6.4%, costs are only

When Jackie called for advice about her mother in assisted living, she had been told that there was “a Medicare solution”. Her Mom, Perla, had been in a memory care home for three years and was running out of money. Someone had fed Jackie a falsehood. She had been told that the home would never

By Nancy Collamer, Next Avenue The latest labor market data confirmed that the job market remains remarkably resilient. In January, the U.S. economy added an eye-popping 517,000 jobs and the unemployment rate fell to 3.4%, the lowest in more than a half-century. Still, even in a strong job market, fortunes vary as evidenced by recent

By Richard Eisenberg, Next Avenue There’s good news and weird news when it comes to age-friendly jobs in America. The good news, according to a recent research paper, “The Rise of Age-Friendly Jobs,” by three noted economists, is that between 1990 and 2020, roughly three-quarters of U.S. occupations increased their age-friendliness. Specifically, employment in what

By Carmen Cusido, Next Avenue Francesca Maresca, 54, of Highland Park, New Jersey, had spoken in passing to her father, John, about whether he had an updated will. It was only when he died at 89 of congestive heart failure in September 2020 that she and her sister, Catherine, learned that he kept their late

By Christine D. Moriarty, Next Avenue When it comes to where to retire, people often get caught up in the illusion, rather than the reality. Before making a commitment to move, understand this change is a fine mix of dreams, practicalities and your vision. You can find your perfect mix when you consider all the

From Alaska to Florida, America’s state and local governments have long been pushing their workers out of pensions into 401(k)-type retirement plans in response to looming budget deficits—misleadingly claiming the retirement benefits are comparable. Nearly two decades later, state workers have awakened to discover they were hoodwinked by their employers and retained financial advisors. Warnings

By Rachel Leland, Next Avenue Kimberly King, a single mom to three adult children, enjoyed a rewarding career as a kindergarten teacher for over a decade. Then, her 23-year-old son was diagnosed with schizophrenia and hospitalized for a year before later having to move into her home in Stratford, Connecticut. Unfortunately, because King’s son had

Questions from beneficiaries who inherited IRAs (individual retirement accounts) continue to come in, which is not a surprise. Two laws changed the landscape for inheritors of tax-deferred accounts with the passage of the first SECURE Act (“SECURE 1.0”), which took effect in 2020, and SECURE 2.0 (signed into law in 2022). Plus, the IRS issued

Share to Facebook Share to Twitter Share to Linkedin Semiconductors are a vital part of virtually all industries. Here’s how to get exposure to them. “Like sands through the hourglass, so are the days of our lives,” says the familiar opening of NBC’s Days Of Our Lives. In the decade prior to the premiere of

Half of Medicare beneficiaries, about 30 million people, are enrolled in Medicare managed care plans such as Medicare Advantage (MA). And increasingly those plans are offering modest, but important, non-medical services to older adults living at home. These supplemental services are the only long-term care-type benefits most seniors will receive through Medicare. The assistance may

6 Tips for Managing Your Zero-interest Promotion When shopping for furniture for a home my wife and I purchased two years ago, the store in which we found many wonderful pieces was offering a promotion of zero interest for two years. All we had to do was qualify based on our credit rating. The stipulation

Regina called AgingParents.com in desperation. She has an 85 year old neighbor, Tony, who lives alone and he’s in big trouble. He just can’t take care of himself and he has a lot of medical issues. He says he has no family. He reaches out to her sometimes and she has been helping him pay

The IRS’s 401(k) contribution increase in 2023 is a big deal. The agency recently announced an increase in the pre-tax 401(k) limit—employees can now contribute up to $22,500 of their salary towards retirement accounts each year. This is a nearly 10% increase from the previous year’s limit of $20,500. It is good news for employees—especially

Introduction A recent federal law, the Corporate Transparency Act (not so affectionately called by the acronym “CTA”) may have a significant and perhaps disturbing impact on your planning. The CTA mandates a new type of reporting to the government that no one has experienced yet in the U.S. It is all encompassing and despite its