Cut Social Security? Say Goodbye to Older Voters

Seventy-nine years after its creation, Social Security remains a vital key to Americans’ retirement security. And with the 2014 elections less than three months away, strengthening the program is a top priority for older voters, according to a new AARP survey of voters 50 and older. The message to candidates is clear: Stop treating Social Security like a line item in a budget. Older voters have earned their benefits through a lifetime of hard work and paying into the system. …

Kids’ Best Financial Adviser: Grandma or Grandpa

Grandparents apparently hold more sway over their grandchildren’s saving habits than they know. According to a survey by TIAA-CREF, a New York-based financial services firm, most young adults (73 percent) say their grandparents do influence their money decisions and more than half call their elders excellent savers. Yet few grandparents capitalize on their standing: Only 8 percent say they’ve had or are likely to have a conversation with their grandchildren about money. >> Sign up for the AARP Money newsletter Among …

Your New Retirement Number: $58,000

En español | Financial experts seem to speculate endlessly about boomers’ projected lifestyle in retirement based on their savings and spending patterns. Now a new survey that polled recent retirees about their standard of living has found that, for some, you don’t need a lot of money each year to retire comfortably and live happily. According to the survey by Baltimore-based investment firm T. Rowe Price, recent retirees report living on 66 percent of their pre-retirement income on average – $58,000 …

Survey: Most Buyers on Insurance Exchanges Were Uninsured

By Julie Appleby, KHN Staff Writer, Kaiser Health News Nearly 6 in 10 Americans who bought insurance for this year through the health law’s online marketplaces were previously uninsured – most for at least two years, according to a new survey that looks at the experiences of those most affected by the law. That finding is higher than some earlier estimates and counters arguments made by critics of the law that most of those who purchased the new policies were previously insured. The survey also found that consumers …

Who’s Tapping Their 401(k) to Pay Off Debt?

Too many workers are using their 401(k) savings plan as a piggy bank, tapping it way before retirement for reasons such as to pay off debt, remodel their home or take a vacation they couldn’t otherwise afford. New research from the financial services company TIAA-CREF finds that one-third of 1,000 Americans surveyed in May have taken out a loan from their retirement savings plan. And 44 percent say they now regret it. The survey looked at what situations caused workers to tap those …

6 Political Truths About 50+ Americans

Americans are more divided along ideological lines – and animosity between Democrats and Republicans is deeper and more extensive – than at any time in the past 20 years, a new report from the Pew Research Center shows. As part of a yearlong study of political polarization in the United States, Pew conducted the largest political survey in its history, polling more than 10,000 adults from Jan. 23 to March 16. It’s a mother lode of age-segmented data on the political attitudes …