Articles on "Financial Planning"

April 23, 2012 6:28 pm

Social Security and Medicare Trustees Release Reports

The trustees who oversee Social Security and Medicare release their annual financial reports today. An aging population and an economy that has been slow to rebound are straining the long-term finances of Social Security and Medicare, the government’s two largest benefit programs. Medicare is in worse shape than Social Security because of rising health care costs. But both programs are on a path to become insolvent in the coming decades, unless Congress acts, according to the trustees. Last year, the […]

April 9, 2012 5:09 pm


More Than 60% of 65-Year-Olds Already Collecting Social Security  Despite the popular belief that Baby Boomers will continue to work well past the traditional retirement age of 65, those born in 1946 are retiring in droves, according to Transitioning into Retirement: The MetLife Study of Baby Boomers at 65. This study is a follow-up to the 2008 MetLife Mature Market Institute study, Boomer Bookends: Insights into the Oldest and Youngest Boomers (released in 2009), which looked at the same segment […]

April 2, 2012 5:19 pm

Seniors are saddled with student loan debt?

The Washington Post reports with some interesting data regarding student loans and seniors.  The article reports that new research from the Federal Reserve Bank of New York shows that Americans 60 and older still owe about $36 billion in student loans, providing a rare window into the dynamics of student debt. More than 10 percent of those loans are delinquent. As a result, consumer advocates say, it is not uncommon for Social Security checks to be garnished or for debt […]

February 28, 2012 3:23 pm


What is it? Elder financial abuse is a crime involving the wrongful taking of money or property, whether through fraud, scams, predatory caretakers or family, or others. It is committed by a person knowingly and willfully obtaining by deception, intimidation, or undue influence, the property of a vulnerable senior with the intent to deprive him or her of that property. How prevalent is it? In a variety of studies on this issue, it is estimated that somewhere between $3 and […]

A Daily Money Manager Acts as an Alter Ego
September 1, 2011 5:06 pm

A Daily Money Manager Acts as an Alter Ego

Boston native Vera Berne worked in different mental health settings inWashington,D.C. after moving to the nation’s capital in 1943.  As a respected diagnostician, teacher and mentor to a number of mental health professionals, she helped several individuals throughout her career that spanned over 50 years.  Now, at the age of 90, Vera has been needing assistance herself and is glad to have found a trusted daily money manger. Over the course of her career, Vera never emphasized private practice feeling […]

June 21, 2011 1:26 am

Wells Fargo and Bank of America Get Out of Reverse Mortgage Business

The New York Times reports that two of the largest banks are getting out of the reverse mortgage business due to financial pressures. Read the article   The following response to the news from the industry trade group, The National Reverse Mortgage Lenders Association Statement from Peter Bell, President of the National Reverse Mortgage Lenders Association, regarding the Wells Fargo Home Mortgage announcement to discontinue reverse mortgage lending: “Reverse mortgages and HECM loans are readily available to seniors as an […]

June 21, 2011 12:01 am

AARPs Position on Social Security Questioned

CNBC reports that some are questioning AARPs change in position to cut Social Security to maintain the programs fiscal health. Read more AARP responded with the following statement: AARP Has Not Changed Its Position on Social Security Reaffirms that program must be strengthened to maintain critical benefits WASHINGTON — AARP CEO A. Barry Rand offered the following statement in response to inaccurate media stories on the association’s policy on Social Security: “Let me be clear — AARP is as committed […]

June 7, 2011 1:30 am

State of American Retirement in Question

Wall Street Journal reports there is a “troubling picture of the state of financial capability in the United States” comes from a new working paper published by the National Bureau of Economic Research, authored by Professor Annamaria Lusardi of the George Washington School of Business. “Americans’ Financial Capability” surveyed nearly 1,500 Americans in the summer 2009 and found that not only is the household financial hole deep, but people might not be able to dig themselves out of it as […]

May 31, 2011 1:18 am

4 Concerns of Retirees Regarding Financial Security

US News and World Report reports that retirees and workers on the verge of retirement have many concerns about their continued financial security. They summarized 4 primary areas of concern: Financial shocks in the future. Retirement is full of uncertainties including how long you will live, how your investments will perform, whether your home will gain or lose value, and how long you will be able to work. Poverty in old age. No one knows how long they will live, […]

October 20, 2009 4:43 pm

Questions to Ask About Continuing Care Retirement Community Fees

1. Are there financial deposits for which I am responsible? If so, what is the refund policy if I decide not to move to the community? 2. What types of service contracts or agreements are available in this community? 3. How much is the current entrance fee? Are there plans to increase the amount of this fee in the future? 4. Is there a structure for refund or rebate of entrance fees? If so, what is the time period in […]