seniors

What Boomers, Millennials, Elderly All Have in Common: Money Fears

For the past few years, it has seemed like depressing economic news has been America's only actual growth industry, and all that negativity is still echoing in our heads. Across the age spectrum, we're downbeat about the future, even as the signs are finally looking up.

Costs of Aging: Retiring Frugally vs. Finding Love

Planning for a happy retirement takes foresight, a lifetime of saving money and little luck. But planning for love? That might cost you. The choices for how we spend our golden years -- and how much we spend -- have a big impact on our social lives, and our chances of discovering new love.

Long-Term Care for Elderly, Disabled Has Far to Improve

For the first time, there's a state-by-state scorecard of America's performance in providing long-term services and support to senior citizens and people with disabilities, and the results aren't much to brag about. But they do point the way toward improving the long-term care system -- and saving the nation billions.

Reverse Mortgage: Is It a Good Bet for You?

The reverse mortgage was invented to help seniors facing economic hardship access the equity in their homes. But these loan products are complicated, expensive and ripe for abuse, which lead a reader named Fred to ask DailyFinance's Laura Rowley for some advice. Here's what she told him:

Don't Let Grandma Get Scammed

In a shaky economy, senior citizens have become a prime target for scammers. Here are some of the common scams -- and warning signs -- to watch out for, along with some tips on how to protect your elderly loved ones.

Deciding When to Retire? Consider the Future First

For seniors, delaying retirement can have a big payoff in Social Security benefits. And a new study finds it's easier to decide to wait if you think about the advantages of holding out before you consider the pluses of retiring early.

Social Security IRAs: A Partial Fix to Reform Problem?

While Congress and President Obama battle over ways to "fix" Social Security, the small conservative seniors group the Association of Mature American Citizens sees a possible solution to part of the reform brouhaha -- a Social Security IRA. In a recent poll, 80% of the members of the small group that bills itself as "the conservative alternative to AARP," said they support the idea of a Social Security IRA being part of a comprehensive Social Security reform package.

'Doctor Marion' Takes Elder Care Message on Tour

More than 8,000 Baby Boomers are turning 60 each day, and many have made serious miscalculations about what they'll need in retirement. So Elder advocate Marion Somers, Ph.D., is crisscrossing the country again to spread the word: "This country is going to be hit with a geriatric tsunami and we are not prepared."

Social Security: Why Seniors Are Just Plain Angry

If Congress fails to raise the debt ceiling soon, come August, the White House warns that tens of millions of Social Security recipients may find their mailboxes empty when they go looking for their checks. Even though some describe it as a "fear tactic," protests by seniors and their advocates are getting much louder.

Elder Abuse: How to Keep Grandma Safe From Con Men

Who would pick the pocket of your grandma or grandpa? Apparently, a lot of people: Older Americans are losing $2.9 billion annually to elder financial abuse, up 12% from 2008, according to "The MetLife Study of Elder Financial Abuse." Here's how to protect your older relatives from becoming victims.

Jackpot! States With Biggest Lottery Payouts

Lotteries are big businesses in most states, and they can provide windfalls for both the winning ticket-holders and state coffers. But which states give the most back to ticket-holders and through government services?

Obama Set to Lay Out Spending Plan

President Obama will lay out new plans this week to reduce the federal deficit in part by seeking cuts to government programs for seniors and the poor, a top political adviser said Sunday. "You're going to have to look at Medicare and Medicaid and see what kind of savings you can get," he said.

America's Low Interest Rates Have a High Hidden Price

Interest rates are the price of money, and though that price is near zero right now, the cost of low interest rates to our nation may be too high. Low rates are squeezing savers, seniors, banks and pension funds, and the benefits we're supposed to see from them don't appear to have arrived.

The Price of Aging: Will It Break National Budgets?

Thirty out of 49 major developed countries could see their credit ratings plummet to junk status if they don't make changes soon, says a Standard & Poor's study. The biggest problem is health care spending on the elderly, particularly for long-term care.

Social Security Administration Says No Cost of Living Adjustment in 2011

There will be no cost-of-living increase in social security payments for 2011, the second straight year without an increase. The Social Security Administration said today that inflation is too low to justify an increase, The Associated Press reported. The decision will affect more than 58 million retirees and disabled Americans.

It's Official: Social Security System Now in the Red

It finally happened: The nation's Social Security system will pay out more than it takes in this year and next, as aging baby boomers begin entering retirement. On the plus side, health care reform should keep Medicare solvent for an extra 12 years.

Seniors vs. Teens for Jobs: Oldies Are Winning

Teen joblessness is at the highest level in some 50 years -- and even seniors, who are delaying retirement, hold more jobs than youths, according to federal data. This means more teens are missing out on learning valuable job skills.

Don't let debt swamp your retirement

A friend of mine nearing retirement is looking longingly at a new Harley, but getting financing is going to be a challenge. He's contemplating...