Planning for Retirement

To equip assisted living and nursing facility staff with the know-how to prevent and spot the warning signs of elder financial abuse, the Consumer Financial Protection Bureau released a guide to protecting residents from financial exploitation.

With support from the U.S. Department of the Treasury, Corporation for Enterprise Development (CFED), the Center for Financial Security at the University of Wisconsin-Madison (CFS) and the New York City Department  of Consumer Affairs Office of Financial Empowerment (OFE) partnered on a pilot program to test the effect of  pairing of financial access and an average of one to two hours of financial counseling on the financial capability of a population transitioning off of public benefits in New York City.

Money Smart for Older Adults (MSOA) is an instructor-led training developed jointly by FDIC and CFPB.  The module provides awareness among older adults and their caregivers on how to prevent elder financial exploitation and to encourage advance planning and informed financial decision-making.

If you have higher income, find out why you will pay an additional premium amount for Medicare Part Be and Medicare prescription drug coverage.

Learn how your Social Security benefits may be reduced if you get a pension based on work where you did not pay Social Security taxes.

Learn about Medicare hospital and medical insurance, who is covered, and how to apply.

Find out how working after beginning to receive retirement benefits can lead to increases or decreases in benefits.

Find out how your Social Security benefits could be affected if you’re eligible for a pension from work not covered by Social Security.

MyRA (My Retirement Account) is a program offering a new retirement savings account for individuals looking for a simple, safe, and affordable way to start saving. Savers will be able to open an account with as a little as $25 and contribute $5 or more every payday. MyRAs balances will never go down, and there will be no fees. MyRAs will be initially offered through employers and will be backed by the full faith and credit of the United States.

This publication helps you manage your money so you can afford today’s needs while funding tomorrow’s goals. This publication shows how saving for retirement can be part of your overall financial plan. Worksheets will help workers at any stage of their career manage their financial life, including identifying short and long term goals, calculating net worth, building a budget, tracking debt and determining a target retirement saving rate.Available in English and Spanish.