We just discovered a highly disturbing article on the website HealthDay that puts a new spin on today’s chorus of headlines about the nation’s opioid crisis. According to two new government reports, a growing number of seniors are falling prey to this insidious category of highly addictive painkillers. Opioid Crisis Increasing but Under-Recognized As reported…
President Donald Trump’s tax cut plan which took effect in 2018 has reduced income taxes for many Americans and is credited by supporters with helping boost the U.S. economy. But hidden in the new law is a potentially unwelcome tax surprise for many retirees, according to your friends at the Internal Revenue Service. An Unhappy…
From our earliest days most of us were taught to be generous, especially with those closest to us. But ironically, as we enter retirement and confront the need to be more fiscally cautious, our adult kids and grandkids are just coming into the phase of their lives when financial crises seem to pop up on…
Most people who pay into Social Security work for an employer. Their employer deducts Social Security taxes from their paycheck, matches that contribution, sends taxes to the Internal Revenue Service (IRS), and reports wages to Social Security. However, self-employed people must report their earnings and pay their Social Security taxes directly to the IRS. These…
Most people approaching retirement age probably dream about retiring debt-free. Entering retirement without the burden of debt is certainly the ideal – but if you think it’s the norm, think again. The reality is, about seven out of ten households headed by those in the 65-74 age group are carrying at least some debt load,…
If you live in an assisted living facility, or have a loved one who does, you’re part of a growing group of Americans – currently about three-quarters of a million – who are healthy enough to live more or less independently but need some help with activities of daily living. This assistance can take the…
Disability affects millions of Americans, in one form or another. Studies show that a 20-year-old worker has a 1-in-4 chance of becoming disabled before reaching full retirement age. Social Security is here to help you and your family, but there are strict criteria for meeting the definition of disability. The definition of disability under Social…
One of the most important legal decisions an older adult can make is to designate someone close to them to act as power of attorney (POA) on their behalf. In choosing a POA, a senior is empowering another person to make both financial and – in many cases – medical decisions on their behalf. It’s…
We recently ran across this article published a few months back on the CNN Money website. Written by retirement expert and well-known money writer Walter Updegrave, the article tackles a question we hear often at our AgingOptions LifePlanning Seminars and on our radio program: What do I do if I’m in my 50s or 60s…
A damning article on the website of Kaiser Health News, just published a few days ago, reports that thousands of senior nursing home residents are dying each year due to a type of infection that is almost always preventable. Analysts suggest that chronic short-staffing in many of the nation’s nursing homes is largely to blame.…