What Will Retirement Look Like for Our Adult Children?

For decades, the three-legged stool was the metaphor for funding retirement: Social Security, pensions and savings/investments. Because of the recession and drop in pensions, the stool started to shake. That hasn’t escaped the notice of our adult children as they watch parents head into retirement. The upside of those watchful eyes is that many millennials have begun saving for their own retirement. At an unprecedented age of  22, some 70 percent of working millennials are socking money away, according to …

Labor Department Proposes Rule to Save Retirees Billions

Financial advisers would have to adhere to more stringent standards when giving advice on 401(k) plans, IRAs and other retirement accounts under a rule proposed Tuesday by the U.S. Department of Labor. The proposed rule would protect people saving for retirement from being steered into accounts with high fees and commissions that benefit the adviser at the expense of the saver. It would force financial professionals to act in the best interest of their clients — a move that advocates say would …

Retiree Health Care Costs May Gobble Up Your Social Security Benefits

A new study projects that a couple retiring this year could spend 67 percent of their lifetime Social Security benefits on out-of-pocket health care costs. And that’s even when couples have Medicare Parts B and D with supplemental insurance. The news gets worse for today’s 55-year-olds who plan to retire in 10 years at age 65, the year in which they’re eligible for Medicare. According to the 2015 Retirement Health Care Cost Data Report, almost 93 percent of that couple’s Social Security …

Aging Issues, Volunteerism Top Talks in Phoenix

“We have to start thinking about healthy aging starting at an early age,” Amy St. Peter, human services manager for the Maricopa Association of Governments, told attendees in Phoenix at the second of a series of five forums leading up to the White House Conference on Aging this summer. Experts on aging issues along with advocates and everyday older Americans gathered for the invitation-only confab to offer opinions and help set the agenda for the White House conference in Washington. …

Traveling Around the World in 2-D: A Granddaughter’s Project

In retirement, my grandfather, Pop Pop, traveled the world with my grandmother. They went to Greece, China, Peru, Portugal — you name it. They’d spent years running a small business and raising three kids, so retirement was their chance to get away and see it all. And for many years, they did, thanks to good health and a smart savings plan. But little did they know that life after 65 would last so long — an absolute blessing, but also …

The Cost of Perpetual Parenting of Adult Children

For many boomers, the empty nest seems more like the empty bank account. After college, kids boomerang home for a few months or years, driving up monthly household expenses. Even when they leave, they often return to the “Bank of Mom and Dad” for help with costs from new cars to camp for the grandkids. All those added outlays are impacting millions of boomers, causing many to delay or modify retirement plans, according to a new study by Hearts & …