Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social more… Social Security Announces 8.7 Percent Benefit Increase for 2023
Kiplinger conducted a survey that found more than 70% of individuals age 50 and older are concerned that inflation will cause serious economic hardship during their retirement. In more… Kiplinger: Worried About Inflation? A Reverse Mortgage Can Generate Cash
Over the past decade, since 2012, at least 46 states have acted to implement a new program, study program options, or consider legislation to establish state-facilitated retirement savings more… Study: Oregon’s Auto-IRA Program Making Progress
Washington Post nationally syndicated personal finance columnist Michelle Singletary recommended to one of her readers this week that she consider a reverse mortgage to help finance home improvements. The more… Syndicated Columnist Recommends Reverse Mortgage Over HELOC
Expanding access to retirement savings accounts remains a hugely popular issue for congressional lawmakers from both parties. When they return from their summer recess in September, lawmakers will more… Congress to Debate Retirement Savings Bills
While 79% of employed workers are saving for retirement, 39% of them said they tapped their retirement accounts during COVID, including 29% who took a loan and 27% more… Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
More than two-thirds (70%) of American retirees wished they had saved more and planned earlier for retirement, according to the 2022 Retiree Reflections Survey, published recently by the Employee Benefit Research more… Survey: 70% of Retirees Have This Regret
For many, retirement can feel a bit like a fairy tale. When you’re young and working, it might seem like slow-building retirement savings (if you have any) might more… What Does Retirement Look Like By Generation?
A new survey from AARP finds that just over half of Americans in their 70s (51%) and 80s (52%) rate their financial situation today as excellent or very good. When more… AARP: Over Half of Older Americans Happy With Finances
MarketWatch interviewed several financial planners to find out what they’re recommending to their clients to lessen the impact of increasing inflation. The general consensus is that consumers should develop more… In the age of inflation, there are steps you can take to deal with higher prices
With the stock market getting volatile but the housing market still hot, reverse mortgages have become a more attractive tool for older Americans who need cash for retirement more… Here’s what you need to know about reverse mortgages
The Consumer Financial Protection Bureau published a data spotlight that highlights the financial challenges that recently widowed older adults face. Using data from the 2019 American Community Survey, the CFPB more… Financial challenges faced by recently widowed older adults
In a recent opinion piece, the editor’s at Bloomberg expressed strong opinions about the shortcomings of America’s retirement system and what Congress needs to do fix these problems. more… Piecemeal Reform Won’t Solve the U.S. Retirement Crisis
The New York Times published a positive article that highlights how reverse mortgages should no longer be characterized as a loan of last resort for house rich, cash poor more… Reverse Mortgages Are No Longer Just for Homeowners Short on Cash
First of all, aging solo doesn’t have to be lonely. In fact, studies on childless adults show they’re no more lonely or depressed than adults with children. Many more… How to plan for aging solo as a childless adult