If there's only one concept you need to know when saving for retirement, it's this: compound interest. With compounding, you make money on your money. You make interest on your interest. Click here to read more.[...]
A new study from Maryland shows that the majority of people who achieve age 61 are free to choose where they want to live. This is not that surprising for many retirees, who want to consider moving at least on a part time basis to a more ideal locale. In fact, up to one third[...]
The Bloomberg Billionaires Index shows that 6 out of the 25 richest Americans are over the age of 80. The Internal Revenues Service shares data that indicates just how old the top billionaires and millionaires throughout the United States are. Individuals over the age of 80 are a small portion of the population, representing 3.7%[...]
When someone passes away suddenly, a lot of questions are raised. This is even more true when the person didn’t take any precautionary steps in terms of estate planning. Once the estate goes through the probate process, family members may be curious about the impact of debts. One of the biggest myths in the[...]
People talk a lot about the gender gap these days. Disparities in earnings between men and women have driven substantial political chatter and partisan debates in recent years, and the topic only seems to gain traction as we head into a new political season. View image | gettyimages.com One context in which people rarely discuss[...]
Batman’s faced plenty of tough foes in the course of his career, but there’s one nemesis still awaiting Bruce Wayne a few years down the road: long-term care costs. Just ask Norm Breyfogle, a well-known comic book artist most famous for his work with “The Caped Crusader.” The New York Times recently recounted Breyfogle’s struggle[...]
If it can happen to Mickey Rooney, it can happen to anyone. Elder financial abuse is a real and growing epidemic in the United States, hard as that is to imagine. Unfortunately, we live in a society that too often looks at the elderly as “less than.” Unscrupulous adults who are hard pressed for cash[...]
“Don’t spend your old age pinching pennies!” That’s The Wall Street Journal’s plea to aging Americans for whom retirement is coming into view on the horizon. But for many people, pinching pennies will be their only option. Why? Two reasons: Lack of planning and lack of savings. Retirement, like old age itself, sneaks up on[...]
I am encountering more and more situations in which elders are the victims of financial fraud and abuse. Sometimes the attack comes from the outside (like hackers) and just as often the attack comes from family members and trusted friends. It’s a disgusting act, filled with cowardice on the part of the perpetrators. I came[...]
Even for Americans who are not dealing with cognitive disability, managing finances can be very difficult at times. It is therefore no wonder that, for a patient dealing with Alzheimer’s disease, managing money can become an impossible task. A recent article offers several tips to assist a loved one with Alzheimer’s disease to protect his[...]