What is Prolonged Grief Disorder? When you lose a loved one, it’s (obviously) normal to grapple with feelings of grief for a long time afterward. You may even feel this way years following the loss: Grief affects different people in different ways. But, it’s important to distinguish between this feeling, and what mental health experts […]
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Continuing to Work Into Your 70s? Older Americans have been continuing to work past the traditional retirement age. This trend is a result of a few things. Either because they can’t afford to retire sooner, an unfortunate risk many face, or by choice, as there are actually several benefits it comes with. Today, we’ll discuss
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The Future of Social Security The Social Security program’s financial security is under constant observation and management by the Social Security Administration. They adjust various factors to ensure its long-term sustainability. However, it’s many reports indicate that it will suffer a severe benefit reduction in 2033. For this reason, it’s absolutely no surprise that most
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Covering the Cost of Long-Term Care You’ve worked for a long time to make sure that you and your family are financially protected. Additionally, you’ve done what you can to prepare for any surprises that the future might bring you. But, even the most well-thought-out strategy might not be enough to prepare you for the
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Banks Are Failing The recent failures of both the Silicon Valley Bank and Signature Bank have left many Americans afraid about the safety of their money. Now, the concern is natural. If something similar happens to your bank, how safe is the money in your account? Not only that, but this event has increased the
Long-Term Care Insurance Options About 70% of Americans who reach the age of 65 end up needing long-term care at some point in their remaining life. This was determined by a study from the U.S. Department of Health and Human Services. And, some people will get by with unpaid care from their own family members
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Biggest Tax Changes For the 2022 Tax Year The Inflation Reduction Act is ushering in a number of changes. You’ll want to be up-to-date on these changes this tax filing season. It might seem easy to get overwhelmed by all these rules. Many are beneficial, many are potentially a burden. The tax code as a
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RMDs in 2023 One possible upside to 2022’s financial climate? It could soon lower the impact of RMDs (required minimum distribution) on your accounts. Here’s a quick list of what you need to know about calculating RMDs in 2023. If you’re retired and over age 72, you’re probably already taking RMDs from your traditional IRA
How to Retire With a Pension Plan As you near retirement, and are due a pension, there’s a tricky decision that you’ll be faced with. This is whether you’ll take your benefits as a lump sum, or as a series of payments over time. For those leaning towards the lump sum option, there’s some information
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10 Hidden Expenses in Retirement Does your retirement budget cover all of these costs? If not, your retirement could be derailed. You may need to alter your strategy to account for these expenses: Hidden Housing Costs The first thing to consider is housing costs. Many fail to look any further than their monthly mortgage payments
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