Retirement

Many aspiring entrepreneurs feel the creative urge represents the most important trait for success. Many great ideas, though, never become viable businesses. Take a look at some of the greatest entrepreneurs of all time. Did Henry Ford invent the automobile? No. Nicolas-Joseph Cugnot first produced a steam-powered automobile in 1769. Did Steve Jobs and Steve

Poverty rates rose for older Americans in 2021 and it was the only demographic group to experience rising poverty, according to the U.S. Census. Eroding pensions, increases in Social Security’s normal retirement age, and big gaps in access to retirement savings plans at work are causing elderly income security in the United States to fall.

Share to Facebook Share to Twitter Share to Linkedin Undeterred by the market selloff this year, Ark Invest founder and CEO Cathie Wood doubled down on disruptive innovation stocks and predicted deflationary trends will continue into next year. “Innovation trends like electric vehicles, artificial intelligence, gene sequencing and blockchain technology are all highly deflationary,” Wood

Share to Facebook Share to Twitter Share to Linkedin Legendary value investor Bill Miller sees fresh opportunities in the stock market amid the brutal selloff this year, urging investors to take advantage of shares that are trading at discounted prices while also remaining bullish about Bitcoin BTC , calling cryptocurrencies “misunderstood.” Speaking at the Forbes/SHOOK

A recent article of mine posed the question: If you want the largest possible HECM credit line in the years ahead do you take it now or wait until you are older? I suggested that it was advantageous for borrowers to wait because the line grows over time, and it will grow more rapidly if

For you, a vaccination is a vaccination; it protects you against something. But, under Medicare, all vaccines are not equal and that means you probably paid more for some than for others. The coverage for a vaccine depends on the part of Medicare under which it falls. Part B, medical insurance, covers most vaccines that

This is a true story, and it may reflect what many older vets face when they start to lose their independence. We’ll call our vet “Uncle Zach”. At AgingParents.com, we worked with the daughter of a 99 year old gentleman, Tony, with dementia and various health conditions. I would sometimes visit him at home to

Share to Facebook Share to Twitter Share to Linkedin The Social Security Administration announced today that benefits will jump 8.7% for 2023, the largest increase since 1981, when double digit inflation pushed payments up more than 11%. The cost-of-living adjustment (COLA) affects 70 million Americans, including 48 million retired workers and their spouses and dependents;

Your mom has been hospitalized for two weeks following a stroke. One morning, she’s told she’ll be discharged by the end of the day. Mom calls you in a panic. You rush to the hospital and ask for advice. Instead, you get a much-copied list of local skilled nursing facilities and a wave good-by. This

The labor market recovered remarkably quickly from the recession in early 2020. This rapid recovery has had greater importance for Black, Latino and many Asian workers than for white workers as they rely more on income from work—wages, salaries and self-employment income—as opposed to income from capitol like dividends and interest. Jobs returned at a

You’d be amazed how many people want to be entrepreneurs. You’d be even more amazed to learn this enthusiasm exists across all age groups. In fact, according to one study1, one in four over the age of 65 possess an “entrepreneurial intention,” while nearly one in five the age of 50 feel the same. Certainly,

Many investors make the mistake of assuming advisers who appear wealthy must be financially savvy and will make them rich. Scammers count on the allure of real or imaginary wealth. To be sure, hiring a penniless pauper to advise you on how to get rich makes no sense. On the other hand, many people believe

An ambitious project from the Stanford Center on Longevity (SCL) attempts to improve retirement outcomes by encouraging pre-retirees and retirees to plan ahead for the challenges they face as they transition into retirement. The widespread lack of forward-looking planning among people approaching their retirement has vexed retirement planners and researchers for many years. Often, people

One of the most common questions we get is whether to put savings toward paying off a mortgage vs. investing more for retirement. This question is tricky because the answer can vary depending on which stage of life you’re in. Are you in the accumulation phase of trying to build wealth or in the distribution

In the mid-1990s, a plethora of regional mutual funds popped up across America. Today, when you think of a “regional” fund, you think of broad global regions. But, three decades ago, a “regional” fund might have also referred to so-called “cheerleader” funds that promoted a particular state in whole or part. Think of these as

I will assess this question for a homeowner of 62 with a house now worth $400,000 who has no current need to draw funds from a HECM but wants the largest possible credit line looking ahead – say in 3 years. I will call this homeowner Prudent. The data used in answering this question are

The Bureau of Labor Statistics shows in Friday’s data, a labor market that is growing at a modest, stable pace. In general, job and wage growth have moderated to a point, where they do not exert inflationary pressures. This could create the policy space for the Federal Reserve to proceed cautiously with further interest rate

Today’s Surprise: Unemployment Is Down But So Are Wages Not sure what the Fed will make of today’s jobs report. My guess is that it will likely double down and keep gunning for a recession. Outside of impacting financial markets, the Federal Reserve’s interest-rate hiking campaign is focused on suppressing job growth, as James K.

Factors to consider Assisted living homes continue to spring up, with owners hoping to attract the highest paying residents to the nicest facilities. After all, Medicare does not cover assisted living and residents must pay out of pocket. If you are considering this for an aging parent, cost is a primary factor in the decision.

The Justice Department recently announced an expansion of its Transnational Elder Fraud Strike Force to fight against financial abuse. We applaud its efforts. However, no matter what the expansion puts into better transnational law enforcement, the heart of the problem and the worst of elder financial exploitation does not come from international crime rings. It