seniors Archives - DR News - News, Retirement, Finance

Seniors Facing Financial Pressure Turn to Workforce in Record Numbers

Palm Harbor, Florida – Larry Gesick, a 77-year-old Vietnam veteran and great-grandfather, starts his day at 5 a.m., heading to work at Publix. Despite being retired initially, financial constraints have led him back to the workforce. His story reflects a growing trend of older adults re-entering work due to economic pressures. The rising cost of living, including groceries, insurance, and housing expenses, has pushed many seniors like Gesick to continue working. In Florida, where retirees …

Seniors Push for Enhanced Social Security Benefits Through New Legislation

Philadelphia, Pennsylvania—Seniors across the United States are facing financial challenges as their Social Security benefits fail to keep pace with rising costs. A recent analysis revealed that retirees have seen a significant decrease in purchasing power over the past two decades, with a 36 percent loss in 2023 alone, marking one of the biggest drops since 2000. As expenses like healthcare continue to increase, many seniors are struggling to make ends meet with inadequate benefits. …

Seniors to Benefit from Social Security Payment Increase: Understanding the Changes Ahead

Elderly residents in New York, USA can anticipate upcoming changes from the Social Security Administration (SSA) that may result in an increase in their monthly Social Security payments. Millions of seniors across the country will benefit from understanding these changes to maximize their financial support. The SSA oversees the management of the Old Age and Survivors’ Insurance (OASI) program, providing various benefits such as retirement payments, survivor benefits, and disability benefits. Apart from the OASI …

Retirement Benefits Trap: US Government’s Discriminatory Rule Penalizes Working Seniors

Los Angeles, California – Many American workers approaching the age of 62 may be unaware of the complexities and restrictions surrounding their eligibility for Social Security retirement benefits. While the Social Security system promises financial support to those who have paid into it for at least ten years, certain regulations can limit the ability to receive these benefits if not followed precisely. For individuals under the full retirement age of 67, the government imposes strict …

Social Security Administration Announces Major SSI Payment Changes for Seniors

Los Angeles, California – The Social Security Administration (SSA) has recently made an important announcement regarding changes to Social Security benefits that will have a significant impact on millions of American seniors. The Supplemental Security Income (SSI) program, administered by the SSA since 1974, aims to provide more unified criteria and assistance to those in need, replacing previous state-specific programs with varying eligibility standards. For seniors approaching retirement or already enrolled in the program, staying …

Medicare Advantage Plan Breakups Leave Seniors Stranded in Network Turmoil

Saratoga Springs, New York – A 95-year-old man, Bart Klion, and his wife, Barbara, had to face a difficult decision earlier this year. The couple was informed that they would have to choose between keeping their private Medicare Advantage insurance plan or continuing their care with doctors at Saratoga Hospital. The Albany Medical Center system, which includes their hospital, was parting ways with the Klions’ Humana plan, sparking concerns about how the couple would manage …

Social Security Administration Confirms April Payment Dates for Seniors

New York, NY – The Social Security Administration (SSA) has recently announced an increase in payments for eligible retired workers in April. This new batch of payments will provide crucial financial support to millions of American seniors who rely on Social Security benefits to cover their essential living expenses. Social Security has long been a lifeline for retirees, with benefits serving as a primary source of income for many older Americans. These payments play a …

Seniors May Experience Mixed Benefit Increases With New Social Security Bill, Advocates Weigh In

Harrisburg, Pennsylvania – Lawmakers have proposed new legislation aimed at adjusting Social Security benefits for Americans aged 62 and older. The Boosting Benefits and COLAs for Seniors Act, introduced by Sen. Bob Casey, D-Pa., seeks to base benefit adjustments on the Consumer Price Index for Elderly Americans (CPI-E) rather than the current Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This change is intended to better reflect the financial challenges faced by …

Retirement Crisis Looms as Social Security Depletion Threatens Seniors’ Savings

Nationwide, the issue of retirement savings has become a growing concern, with many Americans facing financial challenges as they approach their golden years. A recent survey conducted by Clever Real Estate revealed that a significant portion of retired individuals believe that the United States is currently experiencing a retirement crisis due to various factors such as rising costs, increasing debt, threats to Social Security, and other financial worries. Moreover, the survey also highlighted the alarming …

Seniors Face Eviction as Retirement Residence Closes for Private Development

Mississauga, Ontario – Approximately 200 seniors in Mississauga are facing eviction from their retirement residence to make way for a private housing development. The residents of Chartwell Heritage Glen Retirement Residence received notices this month, informing them of the permanent closure of the facility and the requirement to move out by the end of July. Barbara Tarrant, 77, who moved into the residence less than a year ago, expressed shock and concern over the sudden …