Social Security Benefits to Rise 1.7% Next Year

Social Security benefits will rise by 1.7 percent starting in January, the Social Security Administration announced Wednesday. That’s a tad higher than this year’s 1.5 percent increase. It’s also the fourth straight year that the cost-of-living adjustment was below 2 percent for nearly 59 million retirees, disabled workers and their families. The adjustment amounts to about $22 a month for those who receive the average monthly benefit of $1,302. >> See AARP CEO Jo Ann Jenkins’ statement on the COLA “The …

In Thailand, Retirement Is Not Always a Choice

Pa’ Noi manages the neighborhood restaurant that my boyfriend, Joe, and I love here in Thailand, where I’m doing part of my master’s program in gerontology. When we arrive, she greets and seats us, and patiently waits as we, the farangs (Thai for “foreigners”), fumble through our orders. When we finish, she brings us our check and our change, and she inevitably beats the busboys to a first swipe at our table. Pa’ Noi is 71, and she’s great at …

Virginia Senate Candidates Spar Over Social Security, Medicare

In their final scheduled debate before Election Day, Virginia’s two major-party candidates for the U.S. Senate sparred over their records on Social Security and Medicare while voicing similar views on steps needed to address their long-term financing. The debate, held in Richmond on Oct. 13 and televised statewide, was cosponsored by AARP Virginia, whose president, Bob Blancato, asked the candidates how they would protect the programs. “If you are 47 years old or younger … you are looking at getting …

How to Be Really Rich With Less Money

Most people define their net worth in dollars. As a financial planner, I define net worth in time. Allow me to explain. When I ask people to tell me what money means to them, I hear words like freedom, security and independence. Money, and having enough of it, allows us to do whatever it is that makes us happy. Reframing wealth as time turns some millionaires into paupers, and it makes those with $250,000 in 401(k) savings into the very …

Free Financial Advice? What’s Not to Like?

Need financial advice on estate planning, retirement savings or something else? You can get it for free. From Sept. 27 through Nov. 8, hundreds of financial planners will be available to meet one-on-one with people in 25 cities in an annual event called Financial Planning Days. The initiative, in its fifth year, is sponsored by the Certified Financial Planner Board of Standards, the Financial Planning Association, the Foundation for Financial Planning and the U.S. Conference of Mayors. >> 8 Hidden College Expenses Financial …

Rx for Happy Retirement: Staying Healthy

Staying healthy and how to pay for it are the top concerns for boomers and retirees, a study has found. An overwhelming majority of retirees (81 percent) said that good health is the single most important factor for a happy retirement; financial security, by comparison, ranked a distant second (58 percent), the study found. >>  7 Things to Do in Your Bedroom That Can Save Your Life Boomers said that not being able to pay for health care expenses in retirement was their biggest fear, regardless of their …