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Lawmakers Urged to Act Soon to Shore Up Social Security

Posted on 07/28/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe financial outlook for Social Security remains largely unchanged from last year, with the combined trust funds that pay benefits to retirees and workers with disabilities expected to exhaust reserves in 2033, according to a government report released today. After that date, money coming into the system would be enough to cover 77 percent of benefit obligations, according to the Social Security trustees report. At a news conference on Monday afternoon, Treasury Secretary Jack J. Lew said Social Security and Medicare are …

Silence Could Be Costly In Financial Planning

Posted on 07/9/2014 by |AARP Blog Author | Comments

Money & SavingsParents and their adult children say they want to have honest conversations about finances and retirement issues, but they just don’t agree on when to talk, according to a survey released today by Fidelity Investments. And when these discussions do eventually occur, they often don’t get down to the details needed for proper financial planning, the Boston-based investment firm found. Lauren Brouhard, senior vice president of retirement at Fidelity, urges families to bite the bullet and talk — before parents retire …

Caregiving Spouses More Likely to Take on Medical Tasks

Posted on 04/14/2014 by |General News | Comments

Bulletin Today | CaregivingSpouses who are caregivers are significantly more likely than other family caregivers (adult children, for example) to perform many of the tasks that health care professionals do — including medication management, wound care, using meters and monitors, and more. Nearly two-thirds of spouses who are family caregivers (65 percent) performed such tasks, compared with 42 percent of other caregivers. Those are the findings of a new report issued today by the United Hospital Fund and the AARP Public Policy Institute. Among …

Need Help from the IRS? Don’t Hold Your Breath

Posted on 01/10/2014 by |Washington Watch | Comments

Bulletin Today | Money & SavingsHave tax questions or problems? You probably shouldn’t expect much in the way of help from the IRS these days, according to the latest report from the Taxpayer Advocate Service, an independent organization within the agency. Some of the major findings: The IRS no longer helps elderly, disabled and low-income taxpayers prepare their annual returns. Ten years ago it prepared 476,000 such returns. Only 61 percent of calls to the IRS from taxpayers wanting to speak to someone were answered, …

Does My Financial Adviser Have My Best Interest at Heart?

Posted on 09/12/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsIf you think your financial adviser is giving you retirement investment advice that’s in your best interest, you could be sadly mistaken. What you may not know is that many financial professionals aren’t required to put their clients’ best interests first because they’re not bound to a fiduciary standard (a legal requirement to act in the investor’s best interest). So the financial advisers you trust may actually be motivated more by the commissions they get from steering you into certain …

Jobless Rate Inches Up for Older Workers

Posted on 09/6/2013 by |Money and Work | Comments

WorkThe dog days of August brought a slowdown in summer hiring. Employers created a tepid 169,000 jobs last month, less than what economists expected, and the  unemployment rate for older workers inched up to 5.1 percent, the government reported Friday. Men aged 55 and older saw their jobless rate decline in August to 5.4 percent from 5.6 percent the month before. The situation was reversed for older women: the rate rose to 5.2 percent last month from 4.9 percent in July. Nationally, …