Posts Tagged With ‘ retiree ’

Avoidable Retirement Mistakes 6 Retirement Mistakes To Avoid by; Jeremy Reif, CRPS Are you approaching retirement or already enjoying your golden years? It’s crucial to manage your finances wisely. Here are some common mistakes retirees make that you should avoid. Mistake 1: Not having a budget. That is unless you have endless amounts of money.  Without a budget, it’s easy to overspend and run into financial trouble.  Take control of your expenses by creating a budget and sticking to it.  Sometimes it is best to set up your retirement account distributions once a month, two weeks apart from... Continue Reading

When nursing home care uses up a widow’s savings, the federal Medicaid program will kick in and cover her bills for care. But it’s more complicated for couples. If one spouse moves into a nursing home and the bills start piling up, the person who is still living in their home can face serious financial hardship and even poverty. This is a significant risk facing the one in three married people in their early 70s whose spouse will eventually wind up in a nursing home, researchers at RAND found in a study on the financial impact on couples rather than individuals. It’s not unusual to pay roughly... Continue Reading

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 payout in a class-action lawsuit. On one condition: to collect the money, the scammer says the taxes owed must be paid upfront. This is known as an imposter scam. Imposter scams involving other federal agencies – the IRS or the Social Security Administration –... Continue Reading