Key Takeaways Roughly 20% of Americans age 65+ are employed or self-employed. Baby boomers (born 1946-1964) are remaining in the workforce at higher rates than previous generations did at the same age. Reasons include personal choice (e.g., for s…
Category: Retiree Debt
Key Takeaways Older adults face more financial challenges and decisions than younger generations. Examples include Social Security claiming age, required minimum distributions (RMDs), Medicare enrollment, taxes on multiple income streams, long-te…
When debt feels overwhelming, it’s tempting to look at your 401(k) balance and think, “I could wipe this all away today.” After all, it’s your money. But should you actually use your 401(k) to pay off debt? The short answer is “probably not…
Key Takeaways One of the most life-changing events that people experience is becoming a widow or widower. Not only are their personal finances affected, but they lose their life partner, cheerleader, and traveling companion, their deceased spouse’s kn…
Key Takeaways 2025 is the 90th anniversary of Social Security. The program began in 1935, when the Social Security Act was signed into law. In 2025, about 73.9 million people receive benefits. Since its creation, Social Security was meant …
Key Takeaways Inflation is a decline in purchasing power over time. When prices rise, currency (e.g., U.S. dollar) buys fewer goods and services. High inflation is concerning for all Americans but especially for older adults living on fixed incomes.&#…
Key Takeaways What is risk? In a word, uncertainty—uncertainty that actual events will differ from carefully made plans and that bad things will happen. Two common financial concerns of older adults are losing money as a result of stock market do…
Key Takeaways Why Taxes Change After Age 65 Income taxes are generally more complex for people age 65+ than they are for younger working adults. There are new streams of income that get taxed (e.g., pensions, annuities), taxable required minimum distr…
A 403(b) is a retirement savings plan designed for employees of schools, the public sector and certain tax-exempt organizations. It is similar to a 401(k) and is a place where your pre-tax dollars can grow into a solid nest egg for retirement. …
Debt and the financial pressure that comes with it can put your life on hold. Whether it’s a mounting credit card bill or paying off an unexpected hospital visit, sometimes you need to get creative to address your debts. It’s no…