New York Times Report: Coronavirus Pandemic Is Forcing Many Older Workers Into Retiring Earlier Than They Had Planned.

You’ve been working hard all your life, and over the past several years you’ve formulated a clear timeline for retirement – a plan that has withstood upsizing, downsizing, recession, and a whole host of financial challenges. But now, as you’re approaching that chapter of your work life where your plans start to come to fruition,…

That Mysterious Debit Card You Tossed Out Last Month May Have Been Your Coronavirus Stimulus Payment! Here’s How to Get It Back

Sometime during May or June, you may have received a plain-looking envelope in your mailbox, sent from something called Money Network Cardholder Services. Immediately the envelope seemed suspicious, like just another postal scam. If you opened the envelope at all, you found something equally sketchy: a debit card supposedly issued from an institution you never…

Retirement Risks Can Be Eliminated

Millions of Future Retirees are Asking a Big Financial Question: Will Social Security Be Enough? Experts Say, “Probably Not.”

As Americans plan for retirement, one of the pillars of their financial plan is typically Social Security. Since the 1930s this program has been the social safety net ensuring that millions of retirees would not have to live in poverty but instead would have at least some level of steady income, adjusted for inflation. But…

If the Nursing Home is Trying to Take Away a Medicaid Patient’s Stimulus Check, They’re Breaking the Law, Uncle Sam Warns

If you or a loved one live in a nursing home and receive Medicaid benefits, watch out. Some nursing homes and assisted living facilities around the country have snatched up their Medicaid residents’ stimulus checks, claiming that the facility owns that money.  But according to this Michelle Singletary column in the Washington Post, they’re wrong.…

Have You Been Offered an Early Retirement Buyout? Before You Accept, Complete This 6-Step Checklist from Money Magazine

The ripple effects – or should we say, the tidal wave – of economic changes caused by the coronavirus pandemic continue to roil the U.S. economy.  Even as companies slowly get their people back to work, many are realizing that things will never again be the same as they were as recently as five short…

“Father Knows Best” – or Does He? What Kind of Lessons in Money Management Did Your Dad Teach?

Happy Father’s Day, 2020, from all of us at AgingOptions. Whether your dad was present in your life or absent, and whether he was a good example or a bad one, chances are good that your father influenced the trajectory of your life in profound ways. That’s certainly true in the area of money and…

Retiring Early May Sound Like a Dream Come True – but Before You Make It Your Goal, Consider These Drawbacks

We’ve all seen the articles, usually accompanied by beautiful photos of attractive middle-aged couples on an exotic beach at sunset. “This could be you,” the caption reads. “Simply follow our advice and you can retire early!” But while early retirement may be the dream of many people, there’s an old saying that goes, “Be careful…

During Times of Uncertainty, is a Reverse Mortgage Right for You? The Answer is “Maybe” – but Make Sure to Do Your Homework

Ever since the coronavirus pandemic triggered upheaval in the financial markets, we’ve seen a growing number of articles promoting Home Equity Conversion Mortgages – better known as reverse mortgages. Most of them ask, “Is now the right time for you to consider an HECM?”  In this recent NerdWallet article, financial reporter Liz Weston attempts to…

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 Financial Advisor Really Helping You? NerdWallet Article Says Stock Market Turmoil Can Be a Perfect Time to Find Out

We generally appreciate what Liz Weston, columnist for the NerdWallet website, has to say, and this recent article is no exception. Instead of focusing on the nuts and bolts of financial planning and investing, Weston brings up the human dimension. During tumultuous seasons in the market like the one we’ve experienced since the coronavirus pandemic…