Category: Retirement

There is an alarming trend that is growing in America, and it has been made worse by COVID-19 in 2020.  More and more older Americans and retirees are burdened with significant debt.  A recent study shows that individuals age 55 and older with debt grew from 54% in 1998 to 68% in 2019.  The research, conducted by the Employee Benefits Research Institute (EBRI), shows that retiree debt is greater among minorities and women. Another study shows similar trends, stating that the number of bankruptcies filed by senior citizens is rising… CONTINUE READING

If you are living on a tight budget, you are probably struggling just to meet your expenses each month and may not even be thinking of putting aside money for savings.  You need to change this mindset, as many experts feel that if you wish to retire and still maintain your lifestyle, you should have enough savings to cover 70% of your pre-retirement income each year. Saving enough to retire may seem like an unattainable goal, and if you are not on track to save for retirement, you are not… CONTINUE READING

In order to live comfortably in retirement, we have to save during our working years.  What we don’t know is how much we need to save to have enough during retirement and how much we can withdraw from our savings so that we can enjoy our “golden years” while making sure our money lasts as long as we do. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Cousino Weinzimmer understand that financial problems can happen to even the most well-intentioned people. We believe that it pays to be knowledgeable in order… CONTINUE READING

The elderly population in America is growing, and with the increase comes more instances of seniors being exploited and abused. In addition to physical and emotional abuse, financial crimes against seniors are increasing with alarming frequency.  In 1998, the National Center on Elder Abuse estimated that nearly one-third of all elder abuse cases involved financial exploitation. In 2000, the U.S. Senate Special Committee on Aging reported $40 billion in losses to telemarketing fraud alone. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Cousino Weinzimmer understand that even the most alert… CONTINUE READING