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Higher financial literacy, lower risk of being hospitalized
A recent journal published in the Lippincott portfolio by Wolters Kluwer suggests that being more knowledgeable about finances can help keep older adults out of the hospital. The finding supports the notion that financial literary – the ability to access,…
Five Ways to Fight Elder Abuse, Neglect, and Financial Exploitation
As Americans, we believe that people of all ages and abilities deserve to be treated fairly and equally and to live free from abuse, neglect, or financial exploitation. Tomorrow, on World Elder Abuse Awareness Day, we join the world in recognizing…
What you don’t know about Social Security could cost you money
MassMutual released their findings from a five true-false question survey of adults aged 50 and over on Social Security and found that 47 percent of all survey-takers failed. What you don’t know about Social Security or understand about the nation’s…
Your martial status affects your retirement wealth
According to a new study by the Center for Retirement Research (CRR), net financial wealth in households that have never suffered through divorce is about 30 percent higher than in comparable households that have. On average, divorce puts you at…
Retirement crisis by the numbers
According to the Employee Benefit Research Institute’s annual survey, nearly half of Americans nearing 65 years old have less than $25,000 put away and one in four don’t even have $1,000 saved. The retirement crisis in the United States today…
Taxes are always with us
Even in retirement, taxes are a part of the American experience. Retirees must be mindful of how your income strategy affects your tax obligations and how that can impact your overall financial picture. There are several factors at play when…
Health Savings Accounts still generate a range of questions and misconceptions
According to Fidelity, the nation’s largest 401k record-keeper, a 50 percent rise in HSA assets so far in 2018 when compared with last year. Fidelity found 25 percent employees with access to an HSA are now using one of the triple…
Is your adviser confident in helping you maximize your Social Security benefits?
The Nationwide Retirement Institute surveyed advisers and found 62 percent of advisers say their clients frequently ask them about when to collect Social Security. However, in a separate consumer survey, Nationwide learned that only 13 percent of American workers have…
Some people are running out of money in retirement, but many are refusing to spend it
A recent focus group study conducted by a Society of Actuaries (SOA), showed that people want to maintain or increase asset levels in retirement and retirees are reducing their standard of living because they don’t want to spend. The question…
Special strategies for single retirees
According to the U.S. Census, roughly nine percent of those who are 50 or older had never married, and about one-third of baby boomers don’t have children, and others will age alone for other reasons. Those reasons could include: the…