NewsBreak Original

Seniors, like individuals in other age groups, face a range of financial challenges and considerations as they navigate retirement and aging. Managing finances in the senior years requires careful planning and attention to various aspects of financial well-being. Here are some key ideas to consider:

This post includes content written by AI. Retirement is a time to slow down, relax, and enjoy the fruits of a lifetime of labor. For those considering a move to Texas for their golden years, small towns offer the perfect blend of Southern hospitality, affordable living, and leisure activities. Here are the five best small towns in Texas, each with a population of fewer than 100,000, that provide the ideal backdrop for a fulfilling retirement.

Florida, affectionately known as the "Sunshine State," has traditionally been the go-to destination for those looking to enjoy their retirement years under the sun, surrounded by picturesque beaches and a relaxed ambiance. Yet, a recent revelation has raised eyebrows.

After serving more than three decades in public service on the City Council, School Board and as executive director of Denver’s Parks and Recreation Department, Allegra “Happy” Haynes is retiring.

We've all heard it before: "Start saving for retirement as soon as you can." Yet, a new study from the Milken Institute reveals just how early that should be. If you've been pondering when to begin your retirement savings journey, the answer might be sooner than you think. The Milken Institute suggests starting saving at age 25 and saving $100 weekly would yield over $1.1 million by age 65.

As we approach retirement, financial security becomes a top concern. However, a significant number of Americans don't feel entirely confident about their retirement savings. According to a recent survey, only27% of workers are very confident that they'll have enough money to retire comfortably.

When it comes to retirement, California, with its diverse landscape and myriad of recreational activities, is a dream destination for many. However, if you're planning to rely primarily on Social Security, finding the right city that merges affordability with quality of life is crucial. Based on cost of living, amenities, and local attractions, here are the top 10 California cities for retirees on a Social Security budget.

The primary objective of Social Security benefits is to provide income to workers who are now retired. That doesn’t mean that those who have reached the minimum retirement age but are still working won’t get Social Security. Although such people are still eligible, some benefits are temporarily withheld until they reach their full retirement age (FRA). Moreover, these people need to do the Retirement Earnings Test (RET), which helps the Social Security Administration (SSA) determine the amount of benefits to withhold.

Famed Alabama head coach, Nick Saban, found himself amidst a whirlwind of online speculation after a challenging win over South Florida, with many suggesting it's time he hung up his coaching boots.

The Center for Retirement Research at Boston College has landed on a startling discovery: Baby boomers born in the early 1960s have about $50,000 less saved for retirement when they reach their early 50s than those born in the late 1950s.

The retirement landscape in the U.S. seems to be shifting. According to a recent survey by Natixis Investment Managers, a staggering 47% of Americans believe that attaining a secure retirement would need nothing short of a miracle. This sentiment has risen considerably from 40% who felt the same two years ago.

Both leading publications run op-eds suggesting President Joe Biden, 80, is too old for another term. Biden's age is compared to late Supreme Court Justice Ruth Bader Ginsburg, who passed away close to an election.

In today's dynamic work environment, an increasing number of individuals are turning to self-employment, seeking flexibility and autonomy. However, with this freedom comes the responsibility of managing one's retirement planning. Traditional employer-sponsored plans may not be available to self-employed professionals, necessitating a tailored approach to retirement planning. Here, we've gathered insights from various experts in the field to guide self-employed individuals on their journey to a secure retirement.

For a significant part of my life, I battled through the harshness of poverty. As a single parent, I faced an onslaught of challenges, both mentally and emotionally. But I ventured into the world of nursing at 48 and soon after, buying a home that I proudly called my own.

A cost of living increase is anticipated for 2024 for the millions of Americans who depend on it to cover essential expenses. The preliminary projection of about 3% is in line with reported inflation. While this may sound good, another report on CNN says Americans who retired before 2000 have lost 36% of their buying power since the year 2000.

President James W. “Jim” Dean Jr. announced today that he will retire as president of the University of New Hampshire on June 30, 2024. At that time, Dean will have served six years as president of the state’s flagship public research university and more than two years as interim chancellor of the University System of New Hampshire.

"Will you set the table?" When my wife says this, I know I'm about to do a little work, but soon it will be time to eat. The market blues of August and September hopefully set the table for good times ahead. Stocks snapped a five-month winning streak in August after the S&P 500 ended negative 1.8%. And while the monthly stock winning streak is over, upside momentum may continue. Although stocks went negative, they did so in an orderly fashion, which is a good sign of healthiness for the market. The market's overall trading volume was low, telling me investors were not panic selling. While the stock's monthly winning streak has ended, there might still be some solid months ahead. Historically, after the end of a five-month positive streak, the market has gone up an average of just over 7% over the next six months. Interestingly, this same scenario has happened six times since 1950, and all but one were positive over the next six months, according to LPL. Don't get overly worried about September because it is generally a dud. September is historically the worst month of the year for stocks since 1950. Stocks have averaged a negative half percent and have finished negatively more times than not. The good news is that historically, stocks have rebounded from a weak September with a pretty strong October. The October-November-December period is the strongest part of the year for the market. This and the fact that the market usually does well just leading up to the US presidential election gives me optimism. While the next few week's outlook is mixed, I am encouraged by the historical market trends around the presidential election cycle and the frequent strong returns of the year's final quarter. With this short-term outlook, I'm maintaining a slight overweight to fixed income (bonds) over stocks in the accounts I manage. I'm not negative or bearish towards stocks but more neutral to them with an expectation of upcoming buying opportunities. I had a table-setting misstep while doing a college internship in England. I was trying to be helpful and set the table but was quickly corrected on how the "British do it." In my mind, I was thinking, "This from a country that doesn't even know which side of the road to drive." I didn't say it because I still wanted to eat. Let's hope the market isn't as picky about the table setting and serves up something great for the year's end. Have a blessed week!

In a recent survey, a staggering 75% of people aged 50 and older expressed fears that Social Security might exhaust its funds during their lifetime. This sentiment reflects the growing uncertainty surrounding the program's future, as more Americans increasingly rely on it as their primary income source. According to Nationwide's latest retirement survey, 21% of respondents now depend solely on Social Security, a significant rise from 13% in 2014. In contrast, only 31% currently receive pension income, down from 48% a decade ago.

Although the majority of us envision our retirement years as a time to rest, some elders actually choose to go back to work. Barring instances in which individuals are forced to return to work for financial reasons, those who decide to go to work in their elder years seem to do so because it provides them with some fulfillment.