Jane had always assumed that Social Security would be there for her when she retired. She had been paying into the system for most of her working life, and it seemed like a reliable safety net. However, as she approached retirement age, she began to hear rumors that the program was facing some financial challenges. […]

As the US grapples with the debt ceiling debate, President Biden and the House Speaker have both vowed to keep Social Security and Medicare intact. While proposals to create commissions to examine the programs’ future exist, some experts warn this could fast-track changes without proper public vetting. It’s time to ensure the Social Security system […]

As the lower-paid sex, women have no shortage of insecurities about their retirement finances. Only one in five working women feels “very confident” of being able to retire comfortably, the Transamerica Center for Retirement Studies reports in its annual retirement survey. More than half say they don’t earn enough or have too much debt to […]

Older Americans who want to be smart about retirement finances are curious about the intricacies of Social Security. The blog that drew the most traffic from our readers last year – “The Bridge to a Larger Social Security Check” – suggested a strategy for getting more out of the program: delay signing up for Social […]

Retirement can change everything. So can grandchildren. A new study that looks at the transitions made by older workers finds that the odds of relocating after they retire to be closer to their adult children increase from the pre-retirement years – 16 percent of recent retirees do so. Some people make these moves, to within […]

In COVID’s early months, millions of workers’ incomes dried up as the unemployment rate skyrocketed. But older Americans were somewhat shielded from the downturn. That’s because they either are over 62 and on Social Security or receive federal disability benefits every month at higher rates than young adults. And just like everybody else, they got […]

Scams targeting our aging loved ones never seem to stop. Now that thieves can spoof the recipient of a call by showing a “real” number on caller ID, it’s easier than ever for them to intimidate your aging parent. The way this evil game works is this: the caller has your aging parent’s telephone number […]

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. […]

      The news this week for us seniors:  It was just announced that Social Security benefits for next year will increase by 8.7%. That comes after a 5.9% increase for 2022. The average monthly benefit for a retired worker currently stands at $1,660. So the average retiree will get an increase of a […]

The transition to retirement can take many paths. A couple years ago, Joelle Abramowitz at the University of Michigan described three groups of self-employed workers over 50. The bulk of them work independently, either as independent contractors or doing odd jobs, and are more often minorities, with very low pay and few employee benefits. Think […]