Saturday, January 18, 2025
Maximizing your 401(k) contributions goes beyond just setting aside money on a monthly basis. Strategies such as student loan matching, emergency savings accounts, in-plan annuities, auto asset allocation, and auto escalation can significantly enhance your savings over time. Here’s how each of these strategies could work for someone who starts […]
The Centers for Disease Control and Prevention (CDC) has recently issued a warning about counterfeit prescription drugs sold through illegal online pharmacies, many of which contain dangerous substances such as fentanyl and methamphetamine. This poses significant risks, especially to seniors seeking affordable medications online. To avoid being scammed, seniors should […]
Your Initial Enrollment Period (IEP) is a seven-month window surrounding your 65th birthday. It starts three months before the month you turn 65, includes your birthday month, and ends three months after. Here’s how you can enroll: Sign up for Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) […]
Many retirees have had to “unretire” and return to work due to various financial pressures. Some of the key reasons include: Rising Cost of Living: Inflation and the increasing cost of essential goods and services, including healthcare, housing, and food, have outpaced the growth of retirement savings for many people. […]
Here are five of the most beautiful places in the U.S. to visit for fall foliage, along with suggestions for how seniors can best visit these locations, including transportation, accommodations, and economical dining options: 1. Smoky Mountains, Tennessee/North Carolina Best Time: Late September to early November Transportation: Fly into Knoxville, […]
Living a healthy life, especially for those who are 50 and older, involves a combination of proper nutrition, physical activity, mental health care, and lifestyle adjustments. Here are the top 10 tips for a healthy life, with a focus on eating habits: Balanced Diet: Incorporate a variety of foods from […]
A Simplified Employee Pension (SEP) IRA is a type of retirement savings plan designed for self-employed individuals and small business owners. Here’s an overview of key aspects of SEP IRAs: Qualification to Contribute Employers: Any business owner with one or more employees, including self-employed individuals, can establish a SEP IRA. […]
Caring for someone with type 2 diabetes involves understanding the disease, managing daily routines, and providing emotional and practical support. Here are the key things caregivers should know: 1. Understanding Diabetes Type 2 diabetes is a chronic condition where the body either resists insulin or doesn’t produce enough insulin, leading […]
When seniors downsize for retirement, it’s crucial to make smart home-buying decisions to avoid costly repairs and ensure the home meets long-term needs. Here’s a detailed breakdown of potential red flags and tips to avoid them: 1. Aging Roof Red Flags: Look for missing, cracked, or curling shingles, dark streaks, […]
To avoid outliving your retirement savings, you need to take a strategic approach that involves careful planning and disciplined spending. Below are specific tips with dollar amounts based on a person with an average lifetime salary of $75,000 a year. 1. Understand Your Living Expenses Rent/Mortgage: If you’re paying $1,500/month […]