Only 3% of seniors wait until 70 to collect social security even thought it’d mean a 76% larger payment

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Social Security is a program that forms the financial foundation for a majority of our nation’s retired workers, and that’s not expected to change anytime soon. We’re really dependent on Social Security income, and that could be a problem

Data from the Social Security Administration (SSA) shows that 61% of all current retired workers receiving benefits count on Social Security to provide at least half of their monthly income.

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American’s financial lives explained in 29 charts


How much money you make and how you spend that money plays a huge part in what your life looks like.

What makes us unique? Well, we like to think lots of things make us unique: where we’re from, how we were raised, our tastes, our education. But for better or worse, how much money you make and how you spend that money also play huge parts in dictating what your life looks like.  Vox presents 29 charts below showing how Americans earn and spend money, from childhood through their golden years.

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Here’s what you might have missed about the U.S. jobs report

Like the unemployment rate, the employment-population ratio is also affected by labor participation.

The US jobs report last week added to a long string of lackluster monthly installments of data, but at least one thing has been looking up: The unemployment rate is ticking down steadily, dropping almost a tenth of a percentage point with each new report.



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More over-50’s starting their own businesses

With pensions shrinking, many retired people are starting a small business.

At 63, entrepreneur Sam Taylor was retired.  All of his life he had worked hard.  He had a company that floated on the stock market and made enough money to live a life of leisure in southern Spain. So why, eight years later, did he swap sipping sangria’s in the sun for starting an online art business in his native Scotland?



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Most future retirees face fiscal troubles

The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans.

A majority of Americans are headed toward a retirement in which they will be financially worse off than their parents for the first time since the New Deal.  This jeopardizes a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research.



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Seniors in Sun City, Arizona

Sun City, Arizona

In 1960 in the U.S., the average life expectancy for all races and sexes was 69.7 years.  In 2010, the average life expectancy increased to 78.7 years.  In 1959, entrepreneur Del Webb built Sun City, Arizona.  Sun City was the first active retirement community for the over-55.  Webb predicted that retirees would flock to a community where they were given more than just a house with a rocking chair in which to sit and wait to die.  (Pics)



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Cutting costs a new pasttime for retirees

Eliminating some unnecessary expenses and keeping an eye out for ways to save can help keep precious dollars at home.

The golden years of many retirees have been tarnished by low returns on investments and smaller nest eggs than they’d hoped. Meanwhile, longer life spans, increased expenses — particularly rising health care costs — plus a volatile stock market and low interest rates on savings have baby boomers facing tough choices.



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