MoneyWisdom Blog

Be Prepared for Changes in Social Security

Posted by Sandra Quadros Bowles on Jun 26, 2019 7:43:00 AM

Recent news headlines have many Americans worried, suggesting that in the future, monthly Social Security checks may be smaller than expected. According to a troubling report recently issued by the federal government, Social Security payouts will exceed incoming contributions in 2020. As a result, Social Security's reserve fund will be depleted in 16 years and monthly checks will be smaller than currently scheduled, unless Congress steps in.

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Topics: Retirement, Investments

Multiple Ways ID Theft Targets Seniors

Posted by Hanscom Federal Credit Union on Jun 10, 2019 11:04:52 AM

Identity theft is something we all have to take precautions against. Approximately 1 in 15 Americans experience some type of identity theft each year.* The most vulnerable of us are the elderly who may not have the knowledge of how to protect against identity theft in an ever-increasing electronic world.

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Topics: scams, security, Retirement

Become Scam Proof: Tips From Our CU Senior Safeguard Panel

Posted by Diana Burrell on Jun 7, 2019 2:54:00 PM

Scams targeting older adults are on the rise. It's a nearly $40 billion industry, and as thieves conjure up new schemes and technology grows at light-speed, the number of scams is likely to increase exponentially. In the face of such growth, how can you protect yourself or older family members from becoming victims to crooks?

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Topics: scams, security, Retirement

10 Tips for Financial Security After You Retire

Posted by Hanscom Federal Credit Union on Mar 26, 2019 8:26:41 AM

Not that long ago, people looked forward to retirement as a time of relaxation and leisure when one might travel the world or take up a new hobby. Increasingly, however, people preparing to retire are doing the math and realizing that the future doesn’t look so bright financially. The following 10 guidelines will help you enjoy a more comfortable retirement even in an uncertain economy.

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Topics: Savings, budget, Retirement

The Retirement Checklist for All Ages

Posted by Maria Porto on Feb 5, 2019 7:30:00 AM

I have a free — no strings attached — offer today that will help you and your employees with retirement planning. It is a printable Retirement Planning Checklist with reminders for every age.

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Topics: Retirement

Budgeting for Retirement

Posted by Maria Porto on Feb 4, 2019 9:54:00 AM


Because no one truly knows how much money they will need for retirement, saving and planning for it can be daunting. To help you and your employees budget for retirement, I want to share 9 tips from our financial counseling partner, BALANCE Financial Fitness Program:

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Topics: Retirement

Save for Retirement While Paying for College

Posted by Hanscom Federal Credit Union on Jan 28, 2019 3:48:00 PM


Student loan debt is the enemy of many millennials, but it’s becoming a problem for some older Americans, too. According to the Consumer Financial Protection Bureau, recent data shows that between 2012 and 2017 in more than three-quarters of states, the total outstanding student debt held by borrowers over age 60 increased by more than 50 percentFor many of these borrowers, this student loan debt is money borrowed for their children’s or grandchildren’s educations.

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Topics: College, Retirement

Getting Divorced? Don’t Overlook Retirement Benefits

Posted by Hanscom Federal Credit Union on Dec 20, 2018 12:10:00 PM


The issues that couples deal with in a divorce are often emotionally charged. While couples argue about the immediate issues – the house, child support, debts, etc. – they may overlook or underestimate the importance of retirement benefits. It’s important to know your rights to retirement benefits because these benefits are not automatically split in a divorce.

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Topics: Divorce, Retirement

Use Your Home's Equity to Cushion Your Retirement

Posted by MoneyWisdom Newsletter on Nov 2, 2018 2:32:19 PM

 

Use your home's equity to cushion your retirement

If you’re looking for a way to fill in gaps in your retirement income, the solution may be under your own roof. Hanscom Federal Credit Union is now offering FHA-insured Home Equity Conversion Mortgages (HECMs) to members age 62 and older.

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Topics: Home Equity, Retirement

How to Increase Participation in Employer Retirement Plans

Posted by Maria Porto on Oct 31, 2018 6:03:00 AM

I talk to a lot of small business owners and HR professionals who want to increase participation in their employer retirement plans. They invest a lot of resources into retirement benefits for employees, yet many are frustrated by low participation rates. 

In an effort to get employees interested in retirement plans, some employers try innovative techniques. For example, the office-supply company Staples created a vampire-themed game to make planning for retirement and money management more appealing to its busy associates.

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Topics: Business, Financial Wellness, Retirement

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