CFPB: Helping People Plan of Retirement
With help, consumers can better visualize outcomes, plan their decision-making, and make the best decisions about their retirement finances. By Irene Skricki In a recent study, we tested ways to help people better visualize the results of their retirement choices and plan ahead for significant decisions. When people approach retirement age, they have to make…
ABA: How to Protect Your Loved One from Financial Abuse
ABA Foundation offers tips to help families and individuals stop elder financial abuse WASHINGTON — Financial exploitation is one of the most common forms of abuse committed against older Americans. According to a Metlife study, an estimated $2.9 billion is lost annually to scams explicitly targeting seniors. In recognition of World Elder Abuse Awareness Day…
CFPB: Thinking About When You’ll Claim Social Security Benefits Is Time Well Spent
How much will you receive from Social Security when you claim your retirement benefits? If you don’t know, you’re not alone. According to a recent study , one in five people are guessing how much their Social Security retirement benefit will be each month. As it turns out, your prediction might be off by quite…
ABA: What You Need to Know About the Grandparent Scam
WASHINGTON — According to the Federal Trade Commission, the agency received more than 400,000 complaints in 2016 from consumers reporting they were victims of impersonation scams. One of the most common is called the “Grandparent Scam,” which uses impersonation tactics to deliberately target and exploit older Americans. To commit this crime, fraudsters call claiming to…
CFPB: Thinking About When You’ll Claim Social Security Benefits Is Time Well Spent
How much will you receive from Social Security when you claim your retirement benefits? If you don’t know, you’re not alone. According to a recent study , one in five people are guessing how much their Social Security retirement benefit will be each month. As it turns out, your prediction might be off by quite…
FDIC: Tool to Prevent Elder Financial Exploitation Enhanced
The Federal Deposit Insurance Corporation (FDIC) today announced enhancements to its Money Smart for Older Adults curriculum that provide new information and resources to help older adults and their caregivers avoid financial exploitation through fraud and scams. Money Smart for Older Adults identifies common types of elder financial exploitation, such as imposter scams and identity theft, and is…
CFPB: What To Do If You’re Wrongfully Billed for Medicare Costs
If you’re among the 7 million Americans enrolled in the Qualified Medicare Beneficiary (QMB) Program , doctors, suppliers, and other providers aren’t allowed to bill you for Medicare costs when you receive covered medical services, equipment, and supplies. Your Medicare premiums, as well as costs like deductibles, coinsurance, and copayments, are all covered by Medicaid. The Centers…
HUD: $15 Million Announced to Test a New Approach to Help Low-Income Seniors Age in Place
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today awarded approximately $15 million to select owners of HUD-assisted senior housing developments to help their low-income senior tenants to age in their own homes and delay or avoid the need for nursing home care. HUD will cover costs related to hiring a full-time Enhanced…
ABA: Understanding Your Role as a Financial Caregiver
November is National Family Caregiver Month WASHINGTON — According to the Caregiver Action Network, more than 90 million Americans care for a loved one living with a disability, disease or experiencing reduced financial capability as a result of aging. Financial caregivers play an important role in ensuring that all finances — from routine to complex — are managed wisely,…
ABA: 7 Tips to Help Older Americans Keep Their Money Safe
The ABA Foundation recognizes National Grandparents Day with tips for choosing a financial caregiver WASHINGTON — In recognition of National Grandparents Day on Sept. 11 and as a part of its Safe Banking for Seniors program, the American Bankers Association Foundation is offering tips to help older Americans and their loved ones choose the right…