Compared to young adulthood, financial planning is generally more complicated for people age 60 and above. There are more decisions to make, some of which are irrevocable (e.g., purchasing an annuity and claiming Social Security benefits) and generally…
Author: Barbara O'Neill
Solo agers are people who are aging alone without the “safety net” of a spouse, significant other, or children to help them navigate later life. Also called elder orphans (a phrase that has had pushback for being stigmatizing ), they are literally “hid…
One of the largest financial transitions that older adults experience is the start of required minimum distributions (RMDs) from tax-deferred retirement savings plans such as traditional individual retirement accounts (IRAs), SEP-IRAs, and qualified em…
Key Takeaways There are two decades in people’s lives where they experience a lot of changes: their 20s, as they transition to independent living, and their 70s, when they experience many new life transitions related to the aging process. &#…