Category Archives: Finances
Another Face of Poverty in the U.S.
From the Huffington Post: “William McPherson has a Pulitzer Prize, but little money to his name. “In a candid personal essay published in The Hedgehog Review, the 81-year-old journalist revealed his descent into near poverty. While his trajectory was unexpected, … Continue reading
The Importance of Planning for Your Senior Years
From WRVO Public Media in Oswego, New York: “Many individuals may think about saving money for retirement, but that’s only the beginning of the planning process. Growing older can mean a need for different transportation options, more access to medical care, … Continue reading
Student Loan Debt Affects Seniors
“An estimated two million Americans age 60 and older are in debt from unpaid student loans, according to data from the Federal Reserve Bank of New York. Its August ‘Household Debt and Credit Report’ said the number of aging Americans … Continue reading
Gambling: A Serious Problem for Many Seniors
“Seniors are the fastest growing population of gamblers. They are gambling away their income, their savings, and their chance for a secure future. When they lose, they can’t make it up or start over. It’s a no-win game, driven by a … Continue reading
How Much Would You Lose if the Social Security COLA Is Changed?
The proposed change to the cost-of-living-adjustment (COLA) for Social Security and veterans’ benefits would result in a combined $129 billion in cuts over the next ten years. This would hurt many seniors and veterans who are already living on tight budgets. AARP has … Continue reading
Finances: How to Improve Retirement for Women
Did you know that the poverty rate among people age 65 and older is nearly twice as high for women as for men? “The GAO interviewed retirement experts and assembled a list of 22 suggestions—in Social Security, 401(k) plans, and … Continue reading
The Pros and Cons of Reverse Mortgages
“Thanks to the Great Recession, millions of older adults are entering retirement with fewer savings, no pensions and skyrocketing health care costs. Others are being forced into retirement before they’re ready thanks to job loss and layoffs. The bottom line … Continue reading
