Americans are working until later and later in life. That’s in part because of longer life spans, and in part because many older adults are behind in retirement savings and have to stick it out. (According to one 2022 survey, 71% of baby boomers say they feel behind on saving for retirement.)As a result, the workforce is becoming older than
With many major purchases in life, we often have the opportunity to test out or experience the products we’re buying. We can test drive a car, tour a home, or try on a new outfit. For the older Gen Xers and the younger Boomers, retirement is just around the bend. Just like driving a new route, our minds can race with questions. Do
The average Social Security payment is increasing by $48 per month next year. The Social Security Administration announced the 2.5% cost-of-living adjustment (COLA) for 2025 on Thursday, marking the smallest increase since 2021. The average COLA was 2.6% across the past decade, with the 2024 change at 3.2%, according to the administration. The close to 68 million Social Security beneficiaries
Two weeks after his disastrous debate performance, President Joe Biden is facing a dilemma countless older workers have experienced: Outside pressure to retire. The calls for Biden to step aside and let a new nominee challenge former President Donald Trump in November’s general election reached a tipping point this week. On Wednesday, actor and Democratic donor George Clooney questioned Biden’s
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