Category Archives: Financial

Most Americans not saving enough, too many aren’t saving anything

A new survey shows that more than a third of all Americans (36 percent) have nothing saved for retirement.  What’s more bothersome is that 14 percent of people ages 65 and older have no retirement savings and a significant portion of those who are saving aren’t saving enough.  Not surprisingly, younger adults have significantly less…

Study find savers are healthier

Saving for retirement pays back with your health.  At least that’s what a study out of Washington University found.  Workers who save for retirement evidently feel they have a stake in staying alive to enjoy it.  The result, if you’re saving for retirement, you’re probably taking better care of your health.  Researchers found that if…

Seniors get exploited–a lot–and most often by family members

Five percent or more of seniors in the United States are financially exploited (it’s estimated that only one in 44 victims report the crime), most often at the hands of family members.  Financial exploitation is the most frequent form of elder abuse and yet it mostly escapes the examination it deserves.  That’s the findings from…

Grandchildren aren’t as deaf as you think when it comes to financial advice

If you count among the growing population of adults 50 and over and you have an annual income of at least $50,000 and investible assets of $100,000 or more, you may have something you never expected to have—your grandchildren’s ears.  While only about 30 percent of grandparents felt they were a financial influence on their…

The purple plan

Regardless of where you stand on political policies, everyone cares about Social Security.  Nearly all of us will depend substantially upon its ability to pay out some sort of retirement benefit.  However, we are about halfway through a 75 year period in which Social Security needed to be fixed and we are no closer to…

Three things you should do about Social Security

Most Americans treat Social Security benefits about the same way they treat paying into Social Security.  That is, they pay almost no attention to it at all.  Many are like a friend of mine who is sure that she won’t live particularly long because she has diabetes.  It’s true that her diabetes is likely to…

Scams

‘Ware the Robocall.  It should be the name of some bizarre horror film but instead it’s a warning to seniors about yet another scam.   Robocalls are the automated calls you receive from political candidates or telemarketing companies. Some of them sound personalized.  Nearly all of them are a waste of your time but some of…

What can you do when Mom’s having housing issues?

Caregivers often find themselves in tricky situations.  Here’s a situation that can come up that can require trained help to overcome. Your mom has dementia and resides in a nursing home.  She never lasts very long in any particular nursing home because she enters other client’s rooms, undresses and slips into bed with them (don’t…

New reverse mortgage rules begin next month

The Wall Street Journal reported this month that the number of reverse mortgages has increased.  In the first quarter of this year, banks processed 9 percent more reverse mortgage loans over last year.  The average credit line was also up, 4 percent over last year and the highest since 2008.  The most common reason borrowers…

Choosing a financial advisor

Do you find yourself saying things like, “My son/ daughter/uncle/ dad/etc thinks that I should buy a home/ sell my home/buy stock in xyz company?”  Very few of us have the level of financial acumen we believe we need to make the best financial decisions.  This leaves us prone to listening to people that we believe have…