Check out some great tips and ideas, useful advice and tools on finance, retirement funds and more









America’s 65 million Social Security beneficiaries will receive a 0.3% cost-of-living adjustment (COLA) in 2017. That translates to a less than desired increase of about $5 to $1,360 per month for the average retiree. 

It will mark fourth time in the last seven years that Americans receive a bump in their Social Security payments. It is the smallest adjustment since the mid-1970s, when COLAs began.

Click Here to Read More

November 2016

____________________________________________________________________


There are many things that get better with age—wisdom, wine, antiques and solid investments, to name a few.  However one of the lesser known advantages for older Americans are the number of IRS deductions and credits that are available to them.

NerdWallet and Kiplinger have compiled a list of tax deductions and tax-advantaged credits available to retirees:

Click Here for 8 Tax Deductions & Credits

October 2016

____________________________________________________________________


For seniors looking to earn some extra money while staying cool during the summer, there is one new avenue few might have considered opening up older Americans: The local pool.

Working as a lifeguard, once thought as a job mostly for high school and college students, is apparently no longer quite the draw to millennials it once was. Many community pools across the U.S. have temporarily closed at points during because there aren’t enough younger lifeguards.

Click Here to Read More

July 2016

____________________________________________________________________  

The latest data from the U.S. Bureau of Labor Statistics shows that 18.9% of Americans 65+ are still working, the highest percentage in United States history.

The last time it tapped 18% was in the early 1960s. Then, in 1965, Medicare was established to ensure healthcare protections for Americans reaching retirement age.

According to Bloomberg News, there are numerous factors forcing older
 Americans to work longer. According to a survey by the TransAmerica Center for Retirement Studies, 3 out of 5 retirees said they are working longer because they need money and the benefits.

Click Here to Read More

May 2016

____________________________________________________________________

High Student-Loan Debt is Crimping Retirement Savings for Millennials

The United States’ astounding student-loan debt—which grows $2,756 every second according to Market Watch’s national student debt clock—is forcing some Millennials to dig into their retirement savings early on. Millennials are 18 to 33 years old, born 1981-1996.

Today about 40 million Americans carry some level of student-loan debt. And with the escalating cost of college tuition and books, it’s not uncommon for today’s graduate to owe $25,000, $50,000 or even $100,000 to earn a college education. Factor in compounded interest, and the debt can seem endless.

Click Here to Read More

May 2016

____________________________________________________________________



Most Americans saving for retirement would presume that financial advisers and brokers must act in the best interests of their clients, but until recently, that has only been a standard, not a rule.

The U.S. Labor Department issued new regulations on April 6, 2016, mandating that financial professionals handling retirement and 401(k) accounts now have a mandatory fiduciary duty to put their clients’ interests ahead of their own ability to generate commissions and fees.

The new rules govern how financial advisers and brokers must handle the management of trillions of dollars that Americans are saving for retirement, rather than only simply allowing them to recommend “suitable” investments—some of which pay an extra undisclosed incentive commission to brokers

Click Here to Read More

April 2016



How to save money on cable and internet 

When you're looking to get a better deal on cable and internet, the first step is to think about what you're paying for — and what you actually use.
Chances are, you're not taking full advantage of the services on your plan and can downgrade without sacrificing much in entertainment or Internet quality. Most of us accept the cable companies' offer of bundles or packages at an introductory promotional rate, which never fails to expire after one or two years, leaving a fat bill in it's wake.

But companies will be eager to keep your business, leaving you free to negotiate. As long as you can take the time to talk with a representative on the phone, you'll be able to whittle down your monthly bill with the following tips, by clicking here.

Posted 2014

________________________________________________________________


12 best new ways to save money on food 

Be a super saver (with these smart tricks).

You know you should sign up for loyalty cards. You know you should make a

grocery list. You know you should look for gene
rics, buy in-season produce, and get bulk goods when it makes sense. 

But when it comes to saving on groceries, you don’t know everything. We swear!

Read on for little-known tips and strategies for keeping the most food money in your wallet, right where it belongs.

Posted 2014

______________________________________________________________________

10 fun ways to save with your grandkids

It's Fun To Be Frugal

When you were a kid, you learned that fun doesn't have to come with a

high price tag. The same is true today for your grandkids. Expensive electronics have their place, but these ten frugal and fun activities will really bring you and the kids together. The activities are courtesy of Leah Ingram, mother of two and author of Suddenly Frugal: How to Live Happier and Healthier for Less (Adams Media, 2010).

Posted 2014


______________________________________________________________________'
5 last minute ways to stash retirement cash 

Keep Working

The simplest way to boost retirement savings is to hang onto your job.

Staying employed for longer keeps your income and company benefits coming in and prevents you from dipping into your financial safety nets like retirement and Social Security benefits. One way to
 stay on the job is to redefine how you think of work says Stuart Ritter, a senior financial planner with T. Rowe Price investment services firm in Maryland.

"One of the things that we've started advocating is something we refer to as 'practiced retirement,'" Ritter says. "...Take the money that they were saving for retirement and start spending it. Go take that cruise...this idea of 'I stay in the workforce, but I also get to start playing' makes staying in the workforce a more palatable decision."

If you're looking forward to bidding your job adieu too much, consider alternative work situations like moving to part-time, telecommuting or freelancing. Changing up where you do your job and how can drastically affect how long you're willing to stay employed. 

Posted 2014


______________________________________________________________________

Obama: Bad Investment Advice Costing Older Americans $17 Billion Annually

President Obama is calling for tougher restrictions on investment brokers handling trillions of dollars in 401k and other retirement savings accounts, in order to curtail hidden fees and protect consumers against biased financial advice.    

On February 23, 2015, the U.S. Labor Department submitted a proposal to the White House Office of Management and Budget that would hold brokers to a fiduciary standard, which mandates that they place their clients’ interest above their own.

Currently brokers are held to a suitability standard that enables them to sell “suitable” rather than cost-effective products. Brokers typically earn money from sales commissions or fees paid by investors who purchase mutual funds. This compensation arrangement often incentivizes agents to recommend products with higher fees or commission without better returns for investors.

According to the White House Council of Economic Advisers, clients lose a combined $17 billion a year from such conflicting financial dealings and advice.

Photo Courtesy of Wikimedia Commons.

February 2015