This Week's Must Read

Of the 143 million U.S. consumers whose personal information was potentially exposed in the Equifax Inc. data breach, the wealthy could face their own particular set of vulnerabilities.

Would-be criminals could use customers’ stolen names, Social Security numbers, birth dates and addresses—information exposed in the Equifax breach—to target those who may have bigger bank accounts, larger lines of credit and more assets, experts say.

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This retirement cost is inevitable — and can be insanely expensive; Almost 70% of Americans turning 65 will need some form of long-term care
Long-term care is something not all Americans plan for, or even think about, though they should.
The numbers are overwhelming — an American turning 65 today has a 70% chance of needing some type of long-term care service, according to the U.S. Department of Health and Human Services, and though one-third of today’s 65-year-olds may not need it, 20% of them will for more than five years. Women, on average, need care for longer than a man — 3.7 years versus 2.2 years, respectively. About 10,000 people turn 65 years old every day, and will until 2029, according to Pew Research Center.

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Cut spending, invest carefully, live simply — and comfortably
Wish you could retire right now? Give up the rat race, embrace a life of independence, reduce your stress, and have more time for what you value most — your family, education, travel? That might seem like a fantasy but early retirement is within reach of most Americans, if they would only take the steps to make it happen.

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I had been planning my retirement for years. I read all the literature about my pension and ran all the calculations. I reduced my spending. I got completely out of debt and even added a little padding to my savings. So why did I fear what is supposed to be the best time of life? Why did I awfulize retirement — thinking so much about the things that could go wrong that I was afraid to retire?

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CHICAGO, June 22 (Reuters) – Retirees can look forward to the largest Social Security cost-of-living adjustment next year since 2012 – but don’t break out the champagne just yet. For many, higher Medicare premiums will take a big bite out of their raise.

The 2018 Social Security cost-of-living adjustment (COLA) will not be announced until October, but inflation trends point toward an increase of about 2 percent, according to a recent forecast by the Senior Citizens League. That would be a welcome change compared with the 0.3 percent bump in 2017, and 2016 when no COLA was made.

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In 1977, country singer Johnny Paycheck scored a No.1 hit on the singles chart with “Take This Job and Shove It.” The song’s popularity reflected how many people feel about the daily grind of working for a living. For many, retirement is the way out – and it’s something most people would like to achieve sooner rather than later.

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