Finance

“They say you have the retirement party one day and you come back to work the next,” said Mary Jo Finchum, spokeswoman for the Muscatine, Iowa-based company.

A tough choice for senior homeowners By Alain Valles, CRMP Should you stay in your own home? Or would you be better off financially to sell...

Single people get left out of the picture a lot when it comes to retirement. Typically it’s smiling couples who are shown contemplating their sunset years in ads, brochures and magazines.

By Alain Valles, CRMP, MBA, CSA You've heard the term “reverse mortgage,” but do you know how it works? A Home Equity Conversion Mortgage (HECM)...

By Alain Valles, CRMP, MBA, CSA A Home Equity Conversion Mortgage (HECM) – often called a reverse mortgage - is a federally insured loan program that...

A new survey by Sun Life Financial found that 92 percent of workers said they don’t know how much their health care will cost in retirement or vastly underestimate the amount.

By Alain Valles CRMP, MBA, CSA The prospect of living out one's life in the "golden years" has lost its glow. Wild stock market swings and a...

It’s no surprise that the older adult population in Massachusetts is increasing rapidly. In 2010, those aged 65 and older accounted for 14 percent of the state’s population. However, by 2030, that figure will grow to 21 percent. To be economically secure at any age, one’s income must cover basic living expenses. If housing, health care, food, transportation and other incremental expenses are not sufficiently covered by household income, we must support effective strategies to fill the gap or the household will suffer severe economic hardship in retirement.

Life histories, ethical wills and video recordings are just some of the ways people are leaving their personal legacies for loved ones. Their use is becoming more common and small businesses are emerging to meet the demand.

Kennedy’s original idea was to give families some financial breathing room. Most families cannot afford to hire a home health aide for a frail elder, let alone pay nursing home bills. Care is usually provided by family members, often a spouse who may also have health problems.