Nearly half of the people receiving federal disability benefits have a psychiatric impairment that interferes with working. And they tend to be younger and more willing to work than other disability beneficiaries. This makes them good candidates for employment support programs that encourage working at least part-time and might even prevent them from applying for […]
The best reason to set up a power of attorney for yourself or an elderly family member is to avoid a far more contentious and expensive alternative later: guardianship. Jonathan Williams A power of attorney becomes urgent if an elderly family member is showing early signs of dementia. “You want to run, not walk, to […]
For the sliver of retirees who are far behind in paying their own or their children’s student loans, Social Security can withhold part of their benefits to pay the loans back. But college has gotten much more expensive since the baby boomers attended, and loan delinquencies are higher among working people and especially Black Americans. […]
“Is it medically necessary for a person to be able to chew?” Dr. Lisa Simon, a physician and dentist at the Harvard School of Dental Medicine, asks. This is a serious question for older Americans in fragile health. I know a 93-year-old man whose teeth problems make it extremely difficult for him to eat meat […]
Hannah Boulton defies the stereotype of the lonely retiree longing for companionship during the holidays. But after two-plus years of a pandemic, even this dynamic former nurse who’s lived on three continents started feeling a little isolated. Ally Brooks and Hannah Boulton Then she met Ally Brooks, a high school senior, through the Sages and […]
Medicare Advantage or traditional Medicare with supplemental insurance: which should you choose? A compelling reason so many 65-year-olds are flocking to Medicare Advantage insurance policies is that they tend to have significantly lower premiums than enrolling directly in traditional Medicare. Retirees are also inundated with advertisements on television, online and in the mail urging them […]
Anyone who has lived paycheck to paycheck is familiar with the headache of overdraft charges. Due to a slight miscalculation at the end of a tough month, there isn’t enough money in the account to cover a check. The bank pays the check but charges an overdraft fee that drains money out of the account. […]
New Medicare enrollees can expect their uncertain medical expenses to take roughly $67,000 out of the household budget, on average, over the rest of their lives. Since this estimate is only an average, some retirees will pay less and some will pay much more. And the estimate, revealed in a new brief by Karolos Arapakis […]
It is a cruel farce. Scammers use the names of federal agencies charged with protecting citizens’ financial security to rip them off. The Consumer Financial Protection Bureau (CFPB) has confirmed the existence of a new scam in which someone purporting to be from the agency contacts individuals and tells them they are eligible for a […]
This year, retirees were jolted by the 14.5 percent hike in Medicare’s Part B premium for medical services. It was the second-largest percentage increase in at least 20 years. The monthly premium, which rose to $170, will drop to $165 in 2023. But medical care is an expensive proposition that consumes a big chunk of many retirees’ […]
