Retirement

Many financial advisors and economists with in-depth knowledge of Social Security recommend that people delay claiming their retirement benefits for as long as possible, preferably until age 70 when benefits are maximized. But only 10% of pre-retirees intend to wait until age 70 to claim the maximum monthly benefit. A significant majority won’t even wait

After retirement, people have self-reported that they miss the people more than the position or money. Not only are they more limited in social interaction, but as we get older our circle of friends naturally shrinks because of deaths, moves, or lack of effort. In this Forbes article, I describe the loneliness epidemic and the

Some of the most profound truths are those, once revealed, that seem self-evident. And that may also be the most potent gift possessed by the greatest writers and thinkers—the ability to reveal something we already know with such clarity that we can act on it. One of my favorite contemporary thinkers, Shane Parrish, recently shared

It’s Medicare Open Enrollment Period. As I wrote earlier, Open Enrollment this year is unusually important because of significant changes in Medicare Advantage and Part D prescription drug plans. Medicare is complicated, and most people have numerous options. The big changes this year make it especially important to seek help in evaluating the choices. I

If you’re approaching retirement or have recently retired, it’s only natural that you’re looking forward to your newfound freedom. You might be planning to travel, pursuing your hobbies and interests, and reconnecting with relatives and friends. Welcome to the “go-go” phase of retirement when you’re still active and vital and you have the energy to

Most of us recognize that legal means exist to assume control over an aging parent’s finances when their health declines. We use a legal document called a Durable Power of Attorney for that, so the aging parent will appoint someone to manage money if they become impaired. But that can quickly become a problem. One

It is not surprising that we find mental illness across all age ranges. Being over 65 is no exception. Some adult children would probably say that things seem to get worse as their parent gets past retirement age. What we hear most often at AgingParents.com, where we consult with families of these elders, is that

Donald Trump’s return to the White House, coupled with Republican control of the Senate and possibly of the House, could result in a far more limited government role in the care of frail older adults and younger people with disabilities. Most immediately, Trump’s proposed mass deportations would make the current shortage of care workers much

On November 8, the Centers for Medicare and Medicaid Services announced the Medicare premiums and costs for 2025. Let’s take a quick look at what you need to know. Part B Premium and Deductible The 2025 premium for Part B, medical insurance, will be $185, an increase of $10.30 (5.9%). CMS attributes the increase to

“We have absolutely no control over what happens to us in life, but what we have paramount control over is how to respond to those events,” said Viktor Frankl, the renowned psychologist, while imprisoned in a German concentration camp. The context of that statement gives it so much more power, doesn’t it? Compare his context,

Share to Facebook Share to Twitter Share to Linkedin According to the U.S. Census Bureau, over 31 million Americans claim Irish ancestry. They make up a large proportion of the growing number of U.S. citizens contemplating a move to the Emerald Isle. The American dream of Ireland conjures images of thatched-roofed cottages, low stone walls,

President Trump’s Victory Means Estate Planning Changes, Not That it Should Be Ignored With President Trump’s victory, and Republican control of the Senate and it appears likely the House too, it is unlikely that harsher estate taxes will be imposed on the wealthy in the next four years. Does that mean everyone can forget estate

Author weighs the pros and cons of dropping that portion of his car insurance. My wife and I had the misfortune of being in western North Carolina at the same time as Hurricane Milton. The devastation there was overwhelming and we were lucky that we escaped with nary a problem — except that our car

The annual Open Enrollment Period ends December 7, just 30 days from now. Traditionally, fewer than 30% of drug plan enrollees pay attention to how their coverage will change in the new year. They’re happy with the plan and it’s just too much hassle. However, this year is not just any ordinary year. The Inflation

Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they easily rejected a ballot initiative that would have killed the far-reaching law. The WA Cares law provides up to $36,500 in long-term care insurance benefits, with the amount increasing with inflation. It is funded with

Semi-retirement has significant advantages for your financial security, health, and enjoyment of life. It’s a powerful strategy to consider as you approach your retirement years, or even if you’ve recently retired. Let’s take a look. What Is Semi-Retirement? Semi-retirement is when you transition from full-time paid work to part-time paid work instead of retiring completely

In an ideal world, I believe it takes about five years to prepare for retirement – what’s next in life. One of my top ten tips for preparing for retirement is to use your time while you are still working wisely. Seek out role models, make connections, and explore options while you have a pay

Scott was eager. He even had numbers written on his truck’s visor that no one, not even his wife, knew what they meant. It was his retirement date. He saved, planned, and dutifully attended all his company’s retirement readiness seminars. Scott was in the zone; he could finally retire financially secure. A Friday, 30 years

Blended Families May Be At Greater Risk For Family Disputes Sometimes money and the need to care for aging parents can bring out the worst in people. This can happen in blended families with aging parents. When the adult children are faced with issues over their aging parent in common, some siblings feel entitled to

The author and his wife have enlisted the help of a free consultant to guide them until Medicare’s December 7th deadline. My wife and I have been covered by traditional Medicare since we each turned 65. In addition, we have had a secondary insurance plan that was heavily subsidized by my wife’s former employer. Similar