Finances 50+

Be an Informed Consumer!

Beginning Feb. 1 through April 18, AARP Foundation is providing free tax assistance and preparation through its Tax-Aide program. AARP Foundation Tax-Aide, in its 49th year, is the nation’s largest free tax assistance and preparation service, offering free tax preparation help to anyone, especially those who are 50 and older, who cannot afford a tax preparation service.

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AARP Foundation is looking to expand its team of volunteers for the upcoming tax season by recruiting interested Delawareans. Tax-Aide is an AARP Foundation program that offers free tax filing help for those who need it most, especially adults 50 and older, during the tax season.

It pays to look closely at your credit card statement. You may see a "test charge," - a small charge, like $1. It may seem insignificant but it could be a sign tat a scammer has stolen your credit card and is testing it with a small amount to see if it works. Some merchants legitimately place a test charge on your account appearing to come from gas stations or hotel; these charges eventually drop off. But if you see a small charge and can't identify the merchant, contact your credit card company immediately.

This week, AARP State President Rashmi Rangan and AARP State Director Lucretia Young headed to Washington to advocate on behalf of AARP members and all older Americans on the crucial issues of Family Caregiving and Social Security. While meeting with Senator Carper, Senator Coons and Representative Carney, they will have crucial asks:

This year, AARP Foundation is again providing free tax assistance and preparation for taxpayers with low- to moderate- income through the AARP Foundation Tax-Aide program. AARP Foundation Tax-Aide, in its 48th year, is the nation’s largest free tax assistance and preparation service, giving special attention to the older population. Taxpayers do not need to be a member of AARP or a retiree to use this service.

AARP released results of a survey recently to celebrate the 80 th Anniversary of Social Security on August 14, 2015. Americans of all ages continue to have strong feelings of support for Social Security, and the survey found several key themes. According to the national survey of adults, Social Security remains a core part of retirement security, and remains popular across generations and political ideologies. Americans want to live independently, but face challenges around saving for retirement that underscore the importance of Social Security for future generations of beneficiaries.

Delaware is home to a growing influx of people age 50-plus who want to enjoy their next chapter of life. They seek out the state’s beaches, great restaurants and a close proximity to major cities. They believe their futures are financially sound in the First State, and that they will have a high quality of life. But this burgeoning population has something to worry about - a loophole in the law that could be sapping up to 5 years’ worth of their retirement income.

Delaware testified before the Joint Finance Committee on Feb. 26 to express concerns with Governor Markell’s proposal to reduce by half the existing $500 property tax subsidy currently afforded to Delaware seniors, age 65 and older. AARP strongly believes that all individuals have the right to be self-reliant and live with dignity in retirement.