Social Security Recipients Get 2% Increase in 2018

The 66 million+ individuals receiving Social Security benefits will receive a 2 percent increase in their payments in 2018. More than 61 million Social Security beneficiaries will receive higher payments in January of 2018, and 8 million SSI recipients will get their higher payments in December of 2017. The government is responsible for analyzing cost… Read More »

New Study Shows That Having Children Financially Challenging for Retirees

Parents may have numerous challenges as they shift into senior citizen years. However, a new study by the Center for Retirement Research at Boston College, determined that children can be a detriment to saving enough for retirement. Children are expensive because they require clothing, food, child care, and education. The overall family income can be… Read More »

Older Americans Significantly Affected by Debt

Debt is a problem for people of all ages, however, a new research from the University of Michigan Retirement Research Center indicates that debt is a particular problem for baby boomers. The study has been conducted every year since 1990 and looks at the experiences of more than 20,000 Americans over age 50. Magnified Money… Read More »

Planning to Phase into Retirement? New Study Says It’s Rare

Many people looking to retirement don’t want to suddenly stop working altogether either for financial or personal reasons. They instead want to phase into it by switching to part-time hours first. However, there’s a gap between what employees want and what employers expect. The Transamerica Center for Retirement Studies recently identified that 77% of employers… Read More »

Don’t Make These Retirement Planning Mistakes

Millions of baby boomers are headed into retirement and unfortunately, some may discover that they are not as prepared as they thought they were. Thinking about retirement is a great opportunity to evaluate mistakes you have made up to this point or to avoid them in practice altogether. The first and most common mistake with… Read More »