Approximately 49% of men and 64% of women turning 65 today will need extensive long-term care. While many people receive unpaid assistance from relatives, nearly half will require paid services. Covering these costs is a significant challenge, but long-term care (LTC) insurance may provide a viable solution. However, the landscape has shifted over time, with […]
Understanding Long-Term Care Read More »
Losing a job is never easy—but it can be particularly overwhelming in your 50s or 60s. At that stage, many individuals are juggling significant financial commitments such as mortgage payments, supporting children in college, or assisting aging relatives. And landing a new role with comparable pay and benefits can be tough. As layoffs continue to
Late-Career Job Losses Are Affecting Retirement in America Read More »
Most Americans said they were more afraid of running out of money in retirement than of dying. This is an eye-opening finding from a new study conducted by Allianz Life, which discovered that economic uncertainty is causing widespread concern among people approaching or in retirement. According to the study, 64% of respondents are more concerned
Many Americans Are More Afraid of Running Out of Money in Retirement Than Death Read More »
People\’s goals tend to align as they get older. They want to stay in their own homes for as long as possible, maintain their independence, and only seek assistance from family and friends when absolutely necessary. Aging in place refers to the practice of remaining in one\’s own home throughout the aging process. However, successful
Should You Move When You Retire or “Age in Place?” Read More »
Medicare benefits start at age is 65, but you can begin receiving benefits years before that. You can benefit from senior discounts if you sign up for an AARP or AMAC membership when you turn 50. The minimum age requirements for other discounts vary by company or locale and may be between 50 and 65
Senior Discounts in 2025 Read More »
This year will see a record number of Baby Boomers reach the traditional retirement age. All of them will be at least 65 by 2030. However, this poses a financial challenge since fewer taxable workers eventually translate into less funding for Social Security. There will be a serious crisis if Congress does not take action.
2024’s Record Number of Retirees May Spark a Recession Read More »
One common concern among retirees is that they may outlive their retirement funds. As a result, many people are scared to spend their retirement funds. It\’s not surprising, given how ill-prepared many Americans are for retirement. Professionals in the financial services industry frequently say exactly that. It\’s not surprising that many retirees are hesitant to
Many are Scared to Spend Money in Retirement Read More »
Withdrawing an extra $10,000 from your savings for a new roof may not seem like a big deal at the time. But, costs add up, and plans for covering future costs may be disrupted. Every little bit counts in retirement, so you should have a detailed budget that covers as many potential problems as possible.
Unexpected Retirement Expenses Read More »
Members of Generation X will begin turning 60 this year. Generation X (born between 1965 and 1980) is a diverse generation, with people coming from various socioeconomic backgrounds. However, they all confront a few common retirement income difficulties. If you are a member of Generation X who is about to retire, here are a few
Gen Xers and Retirement Read More »
An increasing number of retirement plan accounts have been left behind, and then forgotten, when workers change jobs. Thankfully, a new federal database should help you more easily track down your lost retirement account from a previous employer. There were over 24.3 million forgotten 401(k) plan accounts, worth around $1.35 trillion combined, as of May
Recover Your Lost Retirement Account(?) Read More »
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