Older Archives - DR News - News, Retirement, Finance

California Faces Growing Crisis as Homeless Older Adults Make Up Nearly 40% of Unhoused Population

Los Angeles, California – California’s homeless population is facing a significant demographic shift, with adults aged 50 and over making up nearly 40% of those in need of shelter. This trend highlights the urgent need for proactive policy measures to address the growing number of older adults experiencing homelessness as the state’s population ages. Amidst the challenges of housing insecurity, thousands of older Californians are falling into homelessness at a faster rate than existing support …

Earnings Test Dilemma: Older Husband Seeks Guidance for Working Wife’s Social Security

Washington, D.C. – An older husband seeking guidance with his working wife on how to navigate Social Security benefits was the subject of a recent inquiry to AMAC Certified Social Security Advisor Russell Gloor. The couple was grappling with the idea of using the wife’s Social Security benefits to manage their credit card debt while she continues to work. The husband, aged 74 and retired, receives Social Security benefits and pensions to sustain their lifestyle, …

Retirement Anxiety Grows Among Older Americans due to Rising Expenses and Lack of Savings

Washington, DC – A recent survey conducted by AARP reveals that approximately one-quarter of adults over the age of 50 in the United States who have not yet retired express concerns about their ability to do so, with some even believing they may never retire. The survey also found that 70% of respondents are anxious about the possibility of prices increasing faster than their income. According to the AARP research released on Wednesday, 25% of …

Retirement Uncertainty: AARP Survey Reveals Concerns Among Older Adults

Washington, D.C. – A recent survey conducted by AARP reveals that a significant number of adults aged 50 and older in the United States are expressing concerns about retirement, with about 25% stating that they do not expect to retire. The study also found that 70% of respondents are worried about the rising cost of living outpacing their income. Financial insecurity among older Americans is a growing issue, as highlighted by the research released by …

Retirement: Maximizing Social Security Benefits at 65 and Older

Los Angeles, CA – Retirement is a vital phase in the lives of senior citizens, as they look forward to a secure income after years of hard work. The American Government ensures that individuals over 65 receive the necessary assistance through the Social Security program. However, the process of applying for Social Security retirement benefits requires careful examination and thorough investigation to ensure a comfortable retirement. Many individuals are eager to maximize their monthly benefits …

Breast Scans Denied: Medicare Holds Back Necessary Screening for Older Women

Some older women in Houston, Texas are facing challenges when it comes to getting the necessary breast scans, even though they need them for their health. Medicare, the government health insurance program for Americans over the age of 65, is not covering these additional scans for some women, leaving them to figure out how to pay for them on their own. The issue arises from the fact that Medicare guidelines currently only approve additional breast …

Social Security Risk: Lawmakers Urge Action on Student Loan Default Among Older Americans

Boston, Massachusetts – Democratic lawmakers are urging President Joe Biden’s administration to take action to prevent millions of older Americans from potentially losing some of their Social Security benefits due to defaulting on their student loan payments. Senators Elizabeth Warren and Ron Wyden are among those calling for a change to protect individuals aged 65 and older who are struggling with over $125 billion in student loan debt. According to a report by the think …

“Retirement” Crisis: Older Americans Forced Back into Workforce due to Financial Struggles

New York, NY – Hope Murray, a retiree with a diverse career history, found herself reentering the workforce at the age of 80 due to rising living costs. After enjoying a life of leisure in San Diego, Murray took up a job handing out samples at Costco to make ends meet. Reflecting on her $18-an-hour paycheck, Murray expressed gratitude for the financial stability it brought, allowing her to cover her expenses without dipping into savings. …

Social Security Benefits Boost Bill Proposed by Senate Democrats amid Rising Costs for Older Adults

Philadelphia, Pennsylvania – A new legislation introduced in the Senate aims to increase Social Security benefits for older adults by adjusting the way cost-of-living increases are determined. However, the bill’s success in becoming a law remains uncertain. Senator Bob Casey, the chair of the Senate Special Committee on Aging, emphasized the importance of ensuring that Social Security remains a vital resource for seniors facing rising costs. The proposed Boosting Benefits and COLAs for Seniors Act …

Pension Gap: Older Britons Struggle as Costs Rise

London, England – Many older adults in the UK are finding themselves up to £80 short per week to cover rising costs as state pension payments fail to keep up with the increasing expenses of daily living. This financial strain has sparked debates on the need for adjustments to the pension system to ensure that retirees can maintain a decent standard of living. According to a former economist from the Bank of England, the state …