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The share of older Americans with debt has been on the rise over the last several decades.  Having debt, however, does not always signal financial fragility because debt can be used for various purposes.  For example, households that take out a low-interest mortgage to buy a home, which typically appreciates in value, are likely making…

Senior couple on a laptop computer at the kitchen table

Retiring baby boomers are increasing the demand for services from the U.S. Social Security Administration (SSA) at a time when budget constraints and retiring staff are limiting the agency’s capacity to deliver them.  Using online services – rather than contacting a representative – offers a way for SSA to meet increased demand with fewer resources…

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Social Security’s design is known to help Black individuals and those with lower socioeconomic status due to the progressive benefit formula, but this effect is partially offset by the shorter life expectancies of these groups.  However, valuing Old-Age and Survivors Insurance (OASI) solely on expected benefits neglects the program’s longevity insurance value, which favors individuals…

The headlines from the 2023 Medicare Trustees Re­port were that the Hospital Insurance (HI) program faces a long-term deficit and will deplete its trust fund reserves in 2031 and that the rest of the Medicare program will require increasing amounts of general revenues. While true, the outlook for program costs is considerably more favorable than…

Since fiscal year 2019, financial markets have been jostled by a series of unusual events: 1) the onset of COVID; 2) the subsequent COVID stimulus; 3) declining interest rates; 4) rising inflation; and then 5) rising interest rates.  Despite the volatility of asset values over this period, the 2023 funded status of state and loca…

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In our high-tech world, virtually any transaction or communication can be executed online. Yet, despite the range of services that...

Senior couple looking at a tablet, laptop and open notebook at a kitchen counter

Policymakers and researchers have been fretting that the share of older Americans with debt has risen from 38 percent to...

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Everyone needs a will. The legal document lays out your wishes about how you would like your assets distributed at death and, if there are young children at home, documents your intentions about their guardian.

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Although much has been said on the yawning wealth gap between Black and Hispanic versus white families in America, a related problem is less often discussed: the racial inheritance gap.