“I can’t wait to get on Medicare!” I’m hearing that more often from people approaching 65 years old. Since the passage of the Affordable Care Act (ACA) in 2010 health insurance has become anything but affordable. I know people paying more for their health insurance than they pay for their mortgage....
Among America’s older population there is a growing concern about the state of their retirement and many are choosing to stay in the workforce much longer. In a previous article I listed concerns of older workers about whether they will ever be able to retire; concerns that...
Ah, for the good old days when the retirement formula was simple. Get a job. Retire at 65. Go home and collect your pension. But those days are long gone. Pension benefits became too expensive for companies to maintain.  They cancelled the plans, started matching contributions to 401(k)s and pushed the...
At the beginning of every year, Americans receiving benefits from Social Security and Medicare find out what changes have taken place and what it means to their bottom line. This year is no exception. For 2019, Social Security recipients get the biggest annual raise they’ve had for quite a while. Some...
Gray divorce. Silver Splitter. Diamond Divorcee. They’re all names indicating a growing divorce rate among older couples. While overall divorce rates in the U.S. remained stable between 1990 and 2010, gray divorce, or divorce among spouses age 50 and older, doubled during the same time period. According to a study from Bowling Green...
With the end of the year in sight, lots of plans are being made—what gifts to buy, what the menu will be, and how to shed the extra weight that will inevitably be acquired. But part of your holiday planning needs to include a year-end investment checkup...
It’s a name change, but a necessary one. What we’ve always called Retirement Planning is quickly becoming Longevity Planning as Americans live longer because of better lifestyles and improvements in medicine. My own family is a perfect example. My great-grandfather died when he was 65. My grandfather was 82 when...
Anyone 70 ½ years old or older with an IRA has discovered the pesky government requirement that forces you to take money out of your IRA whether you want to or not. The annual required minimum distribution is the government’s way of saying, “You haven’t paid taxes on your...
Almost one-quarter of the 65 million people receiving Social Security rely on it for 90% of their retirement income. They’re locked in and there’s nothing they can do to get a bigger check except cross their fingers and hope for a cost-of-living raise every year. No one wants to be...
It's that time of the year again! RMD's! Many retirees love to hate their required minimum distributions, or RMDs. What to do? When to take it out? How much to pay in taxes? There's a myriad of questions. In this video, Morningstar discusses the topic with Maria Bruno, head...