What Will Medicare Cost You in 2021? | Medicare
Medicare costs will change slightly in 2021. Find out what that looks like for you in this high-level overview. A reminder: If you are on a PERACare plan in retirement, you owe Medicare premiums for Part B coverage, but the Part A costs you see in this overview are replaced by the PERACare plan you have.
When Only One Spouse Retires | Kiplinger
If you live with a partner, odds are you won’t retire on the same day. The gap between your retirement date and your partner’s could be months, or even years. That period can bring imbalance to your relationship as your day-to-day experiences diverge. But it doesn’t have to be that way. From practical matters to emotional considerations, this article walks you through how to prepare for this transitional time. And preparing isn’t just about avoiding pitfalls. If you do it right, this time can be full of opportunity.
Does Late-career Nontraditional Work Improve Retirement Security? | Center for Retirement Research at Boston College
Nontraditional jobs (defined as jobs that don’t offer health or retirement benefits) get a lot of attention these days. On the one hand, they can provide much needed flexibility and independence. On the other, the lack of traditional workplace benefits can leave some financially exposed. This paper looks at what effects these jobs have on retirement security for older workers. Those who are underprepared for retirement are more likely to switch to nontraditional work, which isn’t great news given the lack of retirement benefits. But the news isn’t all bad. Those who are more prepared can take advantage of the increased flexibility and explore the idea of a part-time retirement. As the study states, “extended careers are financially beneficial, even in jobs without health and retirement benefits.”
One in four Millennials say the pandemic is putting them farther behind, financially. From putting off paying down debt to foregoing saving for retirement, the financial consequences of 2020 could be felt for years. Only one in four has an employer-sponsored retirement account and most lack a “strong role model for building retirement savings.”