Social Security benefits have lost their purchasing power as inflation has soared in 2022.
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Social Security is increasing benefits by 8.7%, beginning in January 2023, to offset the surging cost of living in the US.
Low-income retirees have long found affordable housing in caravan parks and relocatable home estates. But they are becoming harder to find, and often come with a risk of hazards such as flooding.
Manufactured home estates are popping up as a “cheaper” option for retirees. But they’ll end up costing more, and could be in hazard prone or affected areas.
With its largely white and older workers, this poll site in Maine is typical of poll sites across the U.S.
Shawn Patrick Ouellette/Portland Portland Press Herald via Getty Images
An army of mostly older, white volunteers run America’s voting sites. They’re reluctant to work during a pandemic. So new recruits are signing up to run the polls, for better and for worse.
Take a note from older couples who know how to do it right.
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Cooped up with a partner and nowhere to go to break it up? Coronavirus social distancing… or another day in retirement? Research on older couples holds tips for everyone else on how to deal.
More older Australians are carrying housing debt later in life, or not owning homes at all, but lack suitable alternatives to the family home. The result is lower incomes in retirement.
People come in different shapes and sizes, which can make a one-size-fits-all retirement scheme uncomfortable.
No single super contribution rate suits everyone, and there’s only a clear case for an increase if there’s no age pension.
Increasing numbers of older Australians face a harder time paying the bills when they retire because they’ll still be paying off a mortgage or renting a home.
People over 65 who still have a mortgage or are renting are projected to double in number by 2031. The trend is likely to hit government budgets and leave more retirees in poverty.
Most retirees are financially secure. Many earn more than they did while working, the Grattan Institute finds.
Compelling Australians to put even more into super runs the risk of giving them a better standard of living in retirement than they had while working.
Bill Shorten confirmed the plan to scrap cash payments for excess franking credits.
Labor’s plan to axe franking credit refunds has reignited debate over the income and wealth of older Australians.
The incidence of poverty among people over 65 is decreasing in part because of increased labour force participation.
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There has been a substantial improvement compared to 15 years ago, when the incidence of poverty among the elderly was 32.4%.
Add up all the neglected costs of downsizing and retirees have good reason to be wary of making the move.
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Retirees are often urged to downsize to free up suburban properties for the next generation and for higher-density development. What’s being ignored is the costs of moving into a unit or apartment.
Retirement village contracts are too complex for even some financial advisers.
AAP/ Paul Miller
While retirement villages aren’t regulated like an insurance company, their contracts are essentially insurance policies. This puts the risk on retirees.
The proportion of renters is now roughly equal to the numbers of outright home owners.
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