Retirement

A great misconception of aging in America is the belief that Medicare will pay for your health care needs in old age. It won’t. It will pay for some of those medical costs. But a typical senior can expect to foot the bill for a substantial portion of their health care, even if they are

The Federal Reserve hiked interest rates yesterday to curb consumer demand and inflation acknowledging the move risks triggering a painful recession. Defending the move, the Fed points to low official unemployment numbers indicating a tight labor market that could induce a wage price spiral. But I disagree. A late August Brookings Institution report by Katie

Share to Facebook Share to Twitter Share to Linkedin In a widely expected move on Wednesday, the Federal Reserve wrapped up its two-day policy meeting by announcing a third consecutive 75-basis-point interest rate hike, raising borrowing costs to their highest level since the Great Recession. Stocks immediately tanked in volatile trading after the news, and

Most of us know someone or have a family member affected by this brain disease. The word “dementia” is often used interchangeably with Alzheimer’s disease, though there are other kinds of dementia, with some different symptoms. The importance of awareness is not about the definition. It’s about how families need to recognize the early signs

The U.S. Bureau of Labor Statistics reported inflation continues to rise. With prices increasing at an 8.3% annual rate, it makes sense to investigate what strategies you can muster to counter this trend. What is the best way to beat inflation? Inflation means the cost of living increases. As your expenses rise, you need solutions

The promise at the inception of the HECM reverse mortgage program was that the program would strengthen the retirement plans of homeowners with limited wealth. Inclusion of the HECM reverse mortgage in retirement plans that last for the retiree’s life was an objective. Until now, however, that promise has not been kept. The HECM has

September 18th is National Cheeseburger Day. That’s just a random act by whoever publishes the “National Day” calendar. But did you know that September 18th has a real historic hamburger fact associated with it? Sometime in the late morning of Friday, September 18th, 1885, after the warm rains had stopped, two young brothers from Canton,

Historical research has pinpointed September 18th as “Birth of the Burger Day.” On this date in 1885, a series of fortunate events led two desperate young food concessionaires in their early- to mid-twenties to sell the world’s first “hamburg sandwich.” How Charles and Frank Menches happened to be in the right place at the right

What happens when you run out of your top-selling product? On September 18th, 1885, Charles and Frank Menches faced this very question. Hiram Hopkins and the rest of the Erie County Agricultural Society’s Board of Directors had agreed to allow the Ohio brothers to run a food concession stand at its annual Erie County Fair

By Chris Farrell, Next Avenue Planning for retirement and personal finances became practically synonymous with the rise of 401(k) retirement savings plans. Together, they made mutual fund performance, asset allocation and safe withdrawal strategies top of mind for millions of people. Sound household finances in retirement are critical, of course. Yet many financially prepared near-retirees

By David Robinson, Next Avenue Beset by headlines about stock market volatility, a spike in inflation and potential recession, Americans who are in or approaching retirement are understandably concerned about preserving their wealth. Though it has waned in recent weeks, inflation is still higher than it’s been in decades, and most bond investors continue to

Missing the year-end deadline for some IRA transactions could mean missing out on tax saving opportunities or being subject to excise taxes. If you are one of the 60 million plus individuals with an IRA, you might need to complete certain IRA transactions by the end of this year. Meeting this deadline could mean taking

By Christina Leimer, Next Avenue At an age when many homeowners are paying off their mortgage, thinking about downsizing or giving up home ownership to rent, I bought my first house. Buying wasn’t my top choice. Housing stability was. Renting no longer offers stability in this crazy housing affordability climate, but a mortgage I’ll pay

By Kyeland Jackson, Next Avenue When Kevin White talks about his family home, a smile crosses his face. The Minnesota native created memories in the house. His father built it in the 1960s, tucking it into the quiet forests and hills of Mazeppa, Minnesota. An unused oven reminds White of his mom. The smell of

People of the United Kingdom solemnly mourn the passing of their beloved Queen QUEEN , as do many Brits in the U.S. Whether we Americans comprehend the importance of the monarchy or not, it is clear that the people of her country revered her. Their widespread grief is understandable. What is puzzling is how some

We know how the Covid-19 pandemic killed older adults. We are still learning about its other effects on seniors. And the picture is both complex and often difficult to look at. A study by Michael Barnett of the Harvard T. H. Chan School of Public Health and colleagues (paywall) finds that residents of nursing homes

Share to Facebook Share to Twitter Share to Linkedin Stocks have continued to struggle for direction since a hotter-than-expected inflation report earlier this week dragged markets to their worst single-day drop since June 2020, with the Dow plunging over 1,200 points. While inflation remains stubbornly high, investors have grown increasingly concerned that the Federal Reserve

Across human society, bargaining power is determined by which party can most “afford” to leave the relationship. If workers can leave their job at a lower cost, they have more bargaining power than if the costs of quitting or retiring are high. When asking for a raise a person or union must consider basic economics:

Kathy enrolled in Medicare at age 65 and signed up for a Medigap Plan G (Medicare supplement insurance) and a Part D prescription drug plan. Three months later, she was diagnosed with cancer and fears she may need chemotherapy. Kathy told me that, when checking the plan details page on the Medicare Plan Finder, she

Many families will face the reality that at some point an aging loved one must go to a nursing home, also called “rehab”. These homes provide things assisted living homes are not licensed to give; namely skilled care. For example, an aging parent has surgery and needs therapy during the recovery period. They are sent