Less Money on Health Care, More on Housing: New Survey Shows Pre-Retirees are Pretty Poor at Predicting Retirement Spending

Anyone who has spent time planning for retirement has likely tried to predict how much money they’re actually going to be spending once they stop full time work. Making a realistic retirement budget is a critical part of financial preparedness. Now, however, a new study is revealing that workers approaching retirement age are pretty far…

Retirees Describe Their Biggest Financial Regrets. Will We Learn from Their Mistakes?

“If I only knew then what I know now!” Many of us have uttered those words time and time again when we consider the choices we should have made decades ago. Nowhere are those “if only” regrets more acute than in the area of finances, especially when it comes to preparing for retirement. If we…

Many Retirees are Unprepared for an Emergency Expense, Experts Say, and the Consequences Can Be Costly

Late last year we reported on a study by the Society of Actuaries that should cause concern for retirees.  As this Money magazine article reported at the time, retirees are woefully unprepared for common financial emergencies. While many manage their day-to-day budgeting fairly well, a significant percentage are completely unready for a financial crisis, and…

Retirement Risks Can Be Eliminated

Worried About How to Make Your Money Last in Retirement? Here are Seven Ways to Help Make Sure It Does

Among all the thousands of people we talk with in our office, in our seminars, and on the radio, the single biggest fear most retirees have can be boiled down to one simple question: will I have enough money to live a decently comfortable life? There’s no shortage of articles filled with advice on how…

A Six-Figure Mistake: New Study Shows Taking Social Security Too Early Costs the Average American Over $100,000

Here at the AgingOptions blog we read a lot of articles about Social Security, including an endless parade of recommendations concerning the best way to maximize benefits. Just last week we posted this article about the five Social Security myths that can cost you plenty. But over the past few days we’ve seen a barrage…

Taking early social security is usually a bad idea.

Beware of These Five Social Security Myths – They Could End Up Costing You Plenty

Here at AgingOptions we are constantly being reminded that there is a vast amount of misinformation out there about Social Security. This program, so important to senior Americans, is widely misunderstood – so much so that thousands of retirees are making decisions every year that can end up costing them a lot of money over…

Is Your Retirement Date Getting Closer? Consider this Four-Step Retirement Checklist to See If You’re Really Ready

There’s no shortage of articles telling us how to prepare for retirement – but until you’re really ready to hear the information it tends to fall on deaf ears. This article we recently found on the Motley Fool website is a good basic case in point: it presents “A 4-Step Checklist for People About to…

Older Couple reviewing Social Security Benefits

“Financial Wellness” is Much More than a Mere Buzzword – it can Overcome Stress and Brighten Your Future

What stresses you out? If you’re like nearly two-thirds of Americans, issues surrounding money are right up there near the top of the list, according to the American Psychological Association’s “Stress in America” survey. Money ranked alongside our divisive national politics and work-related stress as the leading source of anxiety among our fellow citizens. Financial…

“Let’s Get Real” – Your True Cost of Health Care in Retirement May Not be Quite as Frightening as it Seems

Big numbers have a way of getting our attention, especially when those big numbers are intended to scare us. One of the “big numbers” that often scares retirees is the projected cost of medical care: usually it’s presented as a huge lump-sum dollar amount, as in, “The average retired couple will need at least $280,000…

Your Actual Mileage May Vary: Government Figures Reveal What the Average Retirement Really Costs

Averages can be misleading things. If you buy a vacation home based on the “average” temperature, you might be surprised by blazing summers and frigid winters. Baseball fans who put too much stock in batting averages are disappointed when the best players strike out twice as often as they get a hit. When it comes…