seniors
Expectations do not always match statistics
A recent survey on finances and longevity reported over half of the respondents say their goal is to live to be centenarian – but still plan on retiring between the ages of 65 and 69. A quarter of the survey…
The latest 2025 COLA estimates
The latest 2025 Social Security COLA predictions are out, and it seems to be on track to be less than this year’s 3.2 percent; however, the official announcement is not until mid-October. Analysis by the Senior Citizens League estimates the…
A guide to covering LTC expenses
Seniors aged 65 have a nearly 70 percent chance of requiring long-term care services in the future. Of the 3.9 million Americans receiving care in a skilled nursing facility, 78 percent received long-term care for 100 days or more. Unfortunately,…
Enrollment in Medicare Advantage
A recent report shows Medicare Advantage enrollment has increased by almost 2 million beneficiaries in 2023. Currently, 33 million individuals of the 65.9 million Medicare-eligible beneficiaries are members of a Medicare Advantage health plan. Victoria Bailey reports on the Medicare…
Old views of traditional retirement are gone
When do you know when it is time to retire? The answer to that question will vary depending on your generation. The older soon-to-be retirees said, “They’ll retire when they emotionally feel ready.” However, the younger generations cited “becoming debt-free…
Social Security is on the ballot
We are all aware that the Social Security and Medicare trust funds are on the road to insolvency in less than a decade from now. However, no detailed plan to solve this issue has yet to be released by either…
Retirees continue to work
A recent report shows around 10 percent of older Americans receive income from Social Security, a defined benefit pension, and a defined contribution plan. The Social Security Administration reports among Social Security beneficiaries aged 65 and older, 37 percent of…
A successful retirement involves consistent behavior
What makes a successful retirement? Is there a magic number that we all need to have saved before retiring? Or is my dream of a rewarding retirement just that, a dream? Financial expert Dave Ramsey says, “It doesn’t have to…
You don’t necessarily have to wait to claim your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced by up to 30 percent than your full retirement age monthly benefit. Most financial experts advise…
The maximum Social Security benefit is out of reach for all but a few workers
In 2024, the highest Social Security retirement benefit for an individual starting benefits is $4,873 per month, according to the Social Security Administration. But how many people achieve the maximum Social Security benefit? In reality, very few Americans will claim…