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 […]
Most of our 78 million baby boomers will spend much of this decade in the Risk Zone spanning the 10 years before and after retirement. Losses in the Risk Zone can make remaining lifetimes far less comfortable, and could make boomers a burden on society because $50 trillion is at stake. Following the Roaring 2010s, […]
Stacks of research studies document the impact of Social Security’s various benefits on the adults receiving them. But little is known about the children who get Social Security checks every month. That’s starting to change, thanks to Timothy Moore at Purdue University. To advance research on child beneficiaries, he has created a database with more […]
“I never thought I would live this long”. That’s what Marsha’s mom says about being 97. It’s great that she has survived a heart attack, a broken hip 2 years ago, and a brush with cancer. Aggressive medical care got her through all of those episodes. Marsha loves her mom, and is glad she’s still […]
