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.
Sometimes it takes a village to help a neighbor, and retiree Robert Bennett is mighty grateful for folks in his town on the banks of Maryland’s Chesapeake Bay.
Millions of consumers may not be getting a fair resolution in disputes with their financial institutions over products and services, according to a report released Tuesday by the Consumer Financial Protection Bureau.
A three-year examination of reverse mortgage complaints to the Consumer Financial Protection Bureau shows that borrowers often didn’t understand the terms of those loans, including how quickly th eir loan balances would go up and their home equity would fall, the bureau said in a new report.
Public interest groups have joined forces in a coalition to prod the U.S. Department of Labor to revise rules requiring financial advisers to act in their clients’ best interests when offering retirement investment advice.
Employers capped a year of solid hiring by adding 252,000 jobs to the economy in December — and older workers welcomed those gains. The national unemployment rate for people 55-plus dipped by 0.6 percent to 3.9 percent last month, a bigger monthly decline than the rate for workers overall, according to the Bureau of Labor Statistics.
You’ve heard this before, I know, and yet it remains as disturbing as ever. Health care costs, along with housing, are likely to be your biggest expenses in retirement. Boston-based Fidelity Investments found that premiums, deductibles and other out-of-pocket expenses could cost a 65-year-old couple retiring today a jaw-dropping $220,000 – and that’s in addition to Medicare premiums.
Investors who bring disputes involving suspected broker misconduct, unsuitable investment advice and other complaints to arbitration may not be getting a fair resolution because the pool of arbitrators lacks diversity, according to a report released Tuesday by a group that represents claimants.
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