Finances 50+

WASHINGTON, DC – AARP has released the 2016 Longevity Economy report, an in-depth look at how our nation’s population of 111 million 50-plus consumers impacts the economy. According to the report, the 50-plus age groups generates $7.6 trillion in economic activity (a $500 million increase from 2013), including $5 trillion in consumer spending by people 50-plus. This increase reflects the shifting demographic and spending patterns of this group due to longer life spans and prolonged employment.

Eric Schneidewind of Lansing, former AARP Michigan State President, stopped in for an interview about his new position as national AARP’s lead volunteer on Michigan’s Big Show with Michael Patrick Shiels this week.

DTE Energy offers ways to stay cool and save money this summer:

WASHINGTON, D.C. – In a new AARP survey released today, 8 in 10 say that taking a stand on Social Security is a basic threshold for Presidential leadership. The survey of likely voters age 50+ also shows nearly 40% are dissatisfied with their retirement savings and nearly half of voters worry they won’t be able to achieve their financial goals over the next five years (49%). 4 in 10 (40%) still don’t know for certain which party’s presidential candidate they’ll choose in the 2016 general election.

WASHINGTON, D.C. — Today AARP Executive Vice President Nancy LeaMond praised the announcement of a final rule by the U.S. Department of Labor (DOL) that updates requirements for providing financial advice to individual retirement plan savers. Americans saving for retirement currently lose an estimated 6 to 17 billion dollars per year due to bad investment advice. Many advisers already abide by the higher standard.

By John Hishta, AARP

This winter natural gas prices are expected to be 15% lower than last year, DTE estimates.

With the holiday giving season approaching, a new survey from the AARP Fraud Watch Network found that 66 percent of Michigan consumers failed a quiz about how to stay safe from common holiday scams, and many are regularly engaging in risky behaviors which could leave them at risk of being victimized by con artists.

Boston, MA—Only 9% of consumers believe they are very knowledgeable about how Social Security benefits are determined and just 1% of Certified Financial Planner™ (CFP ®) professionals say their clients are very knowledgeable about Social Security claiming, according to results of a new joint survey released today by the Financial Planning Association ® (FPA ®) and AARP.

AARP Foundation is looking to build its team of tax-loving volunteers in Michigan. About 275 volunteers are needed at most Tax-Aide sites from Metro Detroit to the Upper Peninsula.