MoneyandMarkets. com: Surviving Soaring Retirement Costs
Weiss Research Analyst and Money and Markets Contributor, Nilus Mattive, tells consumers to consider investing in stocks that pay dividends.
JUPITER, FL (PRWEB) October 28, 2006
The Social Security Administration just announced that benefit recipients will get a 3.3 percent "raise" in 2007. But this cost-of-living adjustment just isn't going to cut it... not in today's world, according to Weiss Research Analyst and Money and Markets Contributor, Nilus Mattive.
In Mr. Mattive's October 24th report, he highlights the details: "the average Social Security recipient is getting just $238.25 a week in payments. Can you enjoy life on that amount? I don't think so. And that 3.3% increase? It translates into a lousy $7.86 a week... or about $31 a month. That's barely enough to cover the co-payments on some prescriptions!"
Since 2002, Fidelity Investments has been tracking how much retirees spend on medical costs. Mr. Mattive's report on MoneyandMarkets. com communicates what they've found:
- Health insurance premiums are growing three times as fast as workers' earnings and two-and-a-half times as quickly as consumer inflation.
- Retiree healthcare costs have been rising at an average annual rate of 5.8 percent.
- The typical retired couple will need $200,000 just to cover their out-of-pocket medical costs.
Rather than relying on pensions or social security for income, Mr. Mattive suggests another approach to consumers: "I'm convinced that dividend-paying stocks can be especially helpful for anyone approaching retirement age. Whether you're worried about making ends meet in retirement or just want some supplemental income for travel and leisure, I think stocks that pay dividends deserve a place in your portfolio."
To read about Mr. Mattive's report Double-Dipped Dividends and Incredible Income Stocks, go to the Money and Markets web site, go here:
Http://www. moneyandmarkets. com/press. asp? rls_id=469&cat_id=7& (http://www. moneyandmarkets. com/press. asp? rls_id=469&cat_id=7&)
About Nilus Mattive and Money and Markets
Nilus Mattive specializes in dividend-paying stocks and high-income investments. He was previously Senior Editor of Standard & Poor's The Outlook, the oldest continuously published investment newsletter in the country, and he has written for a number of investment websites, including BusinessWeek and Individual Investor. He is the author of The Standard & Poor's Guide for the New Investor (McGraw-Hill, 2004).
Money and Markets (www. moneyandmarkets. com) is a free daily investment newsletter from Dr. Martin Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Weiss Research, Inc. is located in Jupiter, Florida. For more information about our editors, or to set up an interview, please contact Wendy Montes de Oca at 561-627-3300 or visit http://www. moneyandmarkets. com/ (http://www. moneyandmarkets. com/).