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 Researc... 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 alon... 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 th... 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... CONTINUE READING
If you received financial relief through the federal government’s Covid mortgage forbearance program and it hasn’t already ended for you, it will soon. The CARES Act provided a mortgage payment forbearance option for all borrowers who, either directly or indirectly, suffer a financial hardship d...