The Great Resignation or the Great Unretirement? A growing number of older Americans are “unretiring” as a cost-of-living crisis, a bear market on Wall Street, and rising interest rates send more people back to the labor market under the stress of diminished living standards. During the COVID-19 public health crisis, the U.S. economy witnessed a…
Inflation, Stock Market Meltdown Force More Retirees to ‘Unretire’
5 Unexpected Reasons Retirees are Returning to Work
Though it’s becoming increasingly common for people to retire later in life, some retirees find that they need or want to return to work. In addition, the pandemic has forced many people to retire sooner than they planned, and many find their Social Security benefits and pension aren’t enough to cover their living expenses. But it’s not just…
Why You Should Buy a Good Annuity and Avoid the Rest
Let’s be real. It can be hard to save for retirement. But, after you figure out how much you need to save for retirement, the real work begins. Obviously, there are a lot of ways to save for retirement. Your main options are 401(k)s through your employer and individual retirement accounts (IRAs). But, there are also…
Is Social Security Running Out of Money?
The Build Back Better bill that Congress sent to the Senate had several social reforms. It proposed more spending on Medicaid and offered hearing benefits through Medicare. But Social Security wasn’t mentioned. When the Senate passed the Inflation Reduction Act, it also didn’t address Social Security. Social Security is running out of funding. The Social…
Survey Shows About 30 Percent Retirees Aren’t Worried About Inflation on Their Savings—Well, Are You?
How worried are you about retirement inflation? You probably have a positive outlook about retiring comfortably if you’re in the majority of Americans. Those are the results of the 2022 Retirement Confidence Survey conducted by the Employee Benefit Research Institute and Greenwald Research in January, polling 2,677 workers and retirees. “Even with the concerns of the pandemic and…
5 Best Credit Cards for Seniors and Retirees in 2022
Choosing the right credit card as a senior or retiree can sometimes be tricky. There are many options available, and it’s essential to find one that offers the best benefits for your current needs. Unfortunately, those needs and our preferences change as we age, so the card that was our ideal fit in our twenties or thirties…
3 Tasks for New Retirees that Will Pay Off Later
After a working lifetime of alarm clocks and meetings, you might be looking forward to a lot more unstructured time once you retire. But taking care of one more to-do list early on can set you up for a better retirement. The following assumes you’ve already done some basic financial planning. Ideally, before you retire,…
The 90/10 Rule–Warren Buffett–#1 Money Savings Tip for Retirees
Personally, I’m picky when it comes to receiving advice. For example, even if you’re my best friend or family member who I respect, I wouldn’t turn to you if I needed a root canal or engine replacement. Of course, if you were a dentist or mechanic, that would be a different story. The same is…
High Inflation Hits Retirees Harder Than Others, Say Experts
You began your retirement plan with plenty of money to pay bills. Your plan expectation of a reasonable inflation rate worked for years. But now one of the key assumptions of your plan has collapsed. Annual inflation is running at some six percent, a thirty year high. That’s why, for millions of elderly Americans living…
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