Key US inflation gauge and spending pick up in solid economy
Wages rose, gas prices went down and consumer spending habits are seen by experts as a favorable sign.
Inflation
Americans want $1.5M for retirement, but their savings are nowhere near that
The "magic number" Americans think they'll need for retirement went up this year — but their actual savings went down.
Social Security COLA falls far short of 2024 prices, study finds
Social Security is getting a 3.2% boost this month — but retirees' expenses have risen by more than triple that rate since last year.
Inflation Reduction Act is causing ‘dramatic’ rise in Medicare premiums, experts say
For many seniors, Medicare Part D premiums will rise by 42% to 57% next year, new research shows. And experts say the reason is a law that was meant to reduce health care costs.
Rising drug prices dramatically outpace inflation, squeezing retirees
The rapidly rising cost of medicine is leaving inflation in the dust, new research shows. Here's how advisers can help retirees cope.
Half of America stopped saving for retirement last year amid soaring inflation
Additionally, one in three adults with long-term nest eggs pulled out money for daily living costs, a U.S. News & World Report survey found
Inflation forces over half of Americans to consider second jobs
Work-from-home arrangements have opened up novel opportunities to make extra money on the side.
Inflation pushes Apple to boost pay for U.S. workers
Apple is raising salaries for workers in the US by 10% or more as it faces a tight labor market and the spread of unionization efforts across its retail stores.
Millennial employees: stop ‘saving’ for retirement
Target-date funds can help risk-averse young workers ease into investing.
This retirement expense has hit $100,000 annually — and it’s continuing to rise
The cost of nursing home services is on the rise, with the annual medical cost of a private room in such a facility now standing at $100,375.
This tax break could save thousands of dollars a year if you own a home
These property tax deferral programs are available to older homeowners who want to postpone real estate taxes provided they remain living in their home.
Employees finally retired? They shouldn’t be afraid to spend money
New retirees are often anxious about spending to much, depriving themselves of some comforts of life for fear of outliving their nest egg.
Clients finally retired? They shouldn’t be afraid to spend money
New retirees are often anxious about spending to much, depriving themselves of some comforts of life for fear of outliving their nest egg.
How to handle finances when only one spouse retires
The partner who first reaches 62 should consider delaying Social Security until the age of 70, and they should continue contributing to the retired spouse’s IRA if possible.
How to handle finances when only one spouse retires
The partner who first reaches 62 should consider delaying Social Security until the age of 70, and they should continue contributing to the retired spouse’s IRA if possible.
A terrible way to protect against inflation
Commodities aren't a good inflation hedge, according to one expert. Instead, talk to clients about TIPS or even some securities.
A terrible way to protect against inflation: Retirement Scan
Commodities aren't a good inflation hedge, according to one expert. Instead, talk to clients about TIPS or even some securities.
How seniors can finance upsizing to a new home: Retirement Scan
Proceeds from selling their current home can be augmented with a "reverse mortgage for purchase," which doesn't have to be repaid until they sell, move out or pass away.
How seniors can finance upsizing to a new home: Retirement Scan
Proceeds from selling their current home can be augmented with a "reverse mortgage for purchase," which doesn't have to be repaid until they sell, move out or pass away.
