seniors
Should you downsize
Many soon-to-be retirees think about whether they should be downsizing their homes. We all have heard the pros of downsizing, but does it make financial sense to do so? Nicole Spector outlines the current downsides of downsizing your home in…
Have you filed your taxes yet?
The 2023 federal tax filing deadline of April 15, 2024, is fast approaching; have you filed yet? Are you required to file a tax return? Yes, some Social Security recipients are not required to file; however, it will depend on…
Changing attitudes about retirement
Fidelity Investments released its latest State of Retirement Planning report highlighting changing attitudes about retirement. Led by the younger generation, two-thirds of the respondents are now more inclined to live intentionally by pursuing their passions and dreams in retirement. The…
Fixing SSA’s overpayment practices
As you may recall, the Social Security Administration has been under investigation for how they handled recouping overpayments from beneficiaries even when the government made the mistake. The newly appointed Social Security Administration Commissioner Martin O’Malley said: “that in the…
Are you ready for retirement ?
You envision your retirement as endless golf games, pickleball, and traveling, but are you prepared financially for retirement? Nowadays, retirement could last 20 to 30 years; have you planned for your money to last this long? How do you know…
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…