High fees eroding many 401(k) retirement accounts

Adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker’s account over a four-decade career compared with lower-cost options.

Recommendations from the Elder Economic Index Report

It’s no surprise that the older adult population in Massachusetts is increasing rapidly. In 2010, those aged 65 and older accounted for 14 percent of the state’s population. However, by 2030, that figure will grow to 21 percent. To be economically secure at any age, one’s income must cover basic living expenses. If housing, health care, food, transportation and other incremental expenses are not sufficiently covered by household income, we must support effective strategies to fill the gap or the household will suffer severe economic hardship in retirement.
Mike Festa

Thrifty Thursdays – AARP’s fall financial series

By Mike Festa, State Director AARP Massachusetts AARP is working to ensure you have a brighter and more secure financial future. We provide free tools...

Reverse mortgages – New options

By Alain Vallès, CSA, MS, MBA, Managing Director, Helping Hands Community Partners, Inc. As Managing Director of the self-funded nonprofit charitable mortgage company, Helping Hands...

When to start collecting Social Security is one of the most important retirement decisions

By David Wilkening, Contributing Writer REGION – When should you start collecting Social Security? Anytime you want once you reach age 62. That’s a fact....
Mike Festa

Five things to know about Social Security

By Mike Festa, AARP Massachusetts State Director Social Security is your money — you earned it through a lifetime of hard work. And like most...
Alain Valles is an expert on reverse mortgages.

Reverse mortgages – get the facts

By Alain Valles, CRMP, CSA, MS, MBA, Nonprofit Managing Director Leery of reverse mortgage infomercials and junk mail that just promote the benefits of reverse...

Retirement: How much can I live on?

The days of being able to count on averaging 10 percent annual returns from the stock market are over. So, it is important for retirees to know just how much they can take out of their portfolios every year without drawing them down too fast.

Older workers delaying retirement plans

The recession claimed Sadowski’s business and a chunk of his savings, and with four teenage daughters, the graphic designer accepts the fact he won’t retire for another five years or more.
Mike Festa

Become a volunteer advocate for AARP Massachusetts

By Mike Festa, State Director, AARP Massachusetts AARP Massachusetts has been hard at work building and training a special group of volunteers to join our...