IRS stipulation could have consequences for seniors in a declining stock market
Required minimum distributions are taxed as income and “can be painful when retirees have to sell assets in a falling market.”
Social Security
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As consumer sentiment remains low, is the ‘silver tsunami’ keeping the economy humming?
Despite signs of souring economic sentiment, the economy keeps moving along. One columnist credits seniors for this resiliency.
Social Security sees ‘dramatic’ spike of 276,000 applications
The increase in applicants was partially attributed to economic anxiety from volatile markets and uncertainty about the program’s longevity.
Some Social Security recipients were falsely told their benefits had stopped, senators say
SSI beneficiaries were reportedly told, incorrectly, that their benefits had stopped, prompting an inquiry from three Democratic senators.
Columnist: Reverse mortgages have benefits that come with risks
Reverse mortgages can be beneficial in the right situation, but there are risks to consider, personal finance columnist Liz Weston writes.
USA Today: If Social Security falters, reverse mortgages could be worth a look
For those reliant on Social Security benefits but having trouble making ends meet, a reverse mortgage may be worth a look, the column said.
Nearly half of retirees worry they’ll outlive their savings, while 25% are burdened by housing costs
A survey of 1,000 retirees shows that many have severe savings shortfalls, can’t enjoy retirement and are burdened by housing costs.