Social Security provides benefits not only to retired workers but also to spouses who have not contributed to the program. Spouses are one of the many beneficiaries of Social Security, and even ex-spouses can claim a payout from the program in some circumstances. When you apply for Social Security, you automatically apply for the greater of your benefit or half your spouse’s benefit. The average monthly payout for all retired workers was [...]

In our last post, we discussed the wide variety of retirees’ circumstances, preferences, and styles. A domain in which they enjoy an increasing variety of options is where they call home. One of the many rewards that comes with maturity and retirement is having new freedom to choose what kind of home to occupy and where to live. About 70% of people in their 30s and 40s say that where they [...]

Retirement planning can't be all about saving enough to see the world and spoil your grandkids, although you'll certainly want to make sure you have the cash to do those things. The reality is that seniors continue to face a lot of expenses after leaving the working world. Unfortunately, many people forget to factor in some of the most costly and important ones when setting savings goals. Whether you're decades [...]

Retiring from law enforcement is a big lifestyle change for both cops and their families ( See Video )

There are three big – and almost unbelievably common – mistakes that companies and their marketers make with respect to retirees and older customers generally. First is ignoring them in pursuit of the youth market. Americans age 50 and up make up 46% of the adult population, and they account for 56% of total consumer spending. Yet an AARP study found that they are only 15% of the people depicted [...]

IMAGINE IF YOU DECIDED in January that you were ready for a new phase in your life. By December, you were going to retire once and for all. You had promised yourself it would happen every year for a while now, but a decadelong bull run in the stock market and a company 401(k) match made walking away difficult. 2020 would be your year, though. It was finally time to retire. [...]