Cases of elder financial abuse often are perpetrated by family, friends, neighbors and caregivers, reports Michelle Singletary, columnist at The Washington Post. Singletary reports here on a recent report from the MetLife Mature Market Institute, “Broken Trust: Elders, Family, and Finances.” According to the report, 55 percent of financial fraud on elders is committed by [...] [read full article…]
Let’s say you won’t have a defined benefit pension in retirement, or that you have a pension that won’t pay much. One option is a do-it-yourself pension–better known as an income annuity. An income annuity is something like the mirror opposite of life insurance. A life insurance policy protects you and your family from the [...] [read full article…]
When it comes to retirement plans, people say one thing but doing another. The Employee Benefits Research Institute (EBRI) compared the dates when workers said they planned to retire with the actual dates they left their jobs. EBRI found a a sizable gap between worker expectations on retirement dates compared with actual experience. EBRI’s research [...] [read full article…]
Fidelity Investments reports a 70 percent increase in workplace retirement plans adding auto-enrollment feature since 2007, a figure representing a survey of the company’s client base. Fidelity reports that 52 percent of auto-enrolled participants were between the ages 20 and 34 – meaning this feature plays a role in helping younger workers kick-start their retirement [...] [read full article…]
Here’s some bad news for men: We don’t live as long as women. But there’s bad news for women, too: you might live too long–financially speaking. Women face a greater longevity risk–the danger of outliving their assets and experiencing poverty in old age. The average life expectancy for a 65-year-old American woman is 20 years, [...] [read full article…]
