Retirement News for Senior Citizens

 

Retirement News for Seniors

How seniors can keep unexpected expense from becoming a crisis

Ideation Challenge on April 16 to spark financial product and service ideas

woman holding a piggy bank with one dollar sticking outMarch 24, 2016 - Nearly half of Americans (47 percent) lack the ability to pay for an unexpected $400 expense, according to the Federal Reserve Board. Retired Americans and those nearing retirement age often are particularly financially vulnerable. Help is now available for seniors from AARP and Georgetown University.

The Global Social Enterprise Initiative (GSEI) at Georgetown University’s McDonough School of Business and AARP Foundation will collaborate to find ways for older Americans to better manage their finances and reduce their debt, starting with a day-long event in April. The initiative also will explore financial product ideas and solutions to assist low-income, older Americans increase their financial cushion and avert potential financial crises.

To launch the initiative, GSEI and AARP Foundation will host an Ideation Challenge on Saturday, April 16, to spark financial product and service ideas. At the challenge, teams of students and innovators from universities and organizations across the country will come together at AARP’s innovation lab in D.C. to brainstorm actionable solutions for the financial challenges facing older Americans.

The winner of the Ideation Challenge will have the opportunity to work with AARP Foundation staff to further develop the product through the innovation pipeline process and will receive a $2,500 cash prize.

Building on the ideas generated from the challenge, GSEI will convene an expert roundtable with business, government, and nonprofit leaders, as well as entrepreneurs and academics. It also will create a report with a summary of the discussions.

“When business, nonprofits, and academia come together, better thinking and different solutions can result than if any one of these groups worked alone,” said Ladan Manteghi, executive director of GSEI.

“We are bringing the market knowledge of business leaders and the creativity of students together with AARP’s expertise of the 50+ to tackle how we mitigate financial crisis for vulnerable older Americans.”

“AARP Foundation is committed to winning back opportunity for our most vulnerable populations,” said AARP Foundation Senior Vice President Emily Allen.

“Through this new collaboration we will be able to foster innovation around specific financial products and services that meet the unique needs of low-income older consumers to ensure that they can reduce debt, build savings, and increase their overall financial stability.” 

>> To learn more about the project or to register for the challenge

>> Federal Reserve Board’s Report on the Economic Well-Being of U.S. Households in 2014

>> Most older Americans fall short on retirement savings


About AARP Foundation
AARP Foundation is AARP’s affiliated charity. Learn more at www.aarpfoundation.org.  

About the Global Social Enterprise Initiative
The Global Social Enterprise Initiative at Georgetown’s McDonough School of Business aims to prepare current and future leaders to make responsible management decisions that yield both economic and social value. Learn more at http://socialenterprise.georgetown.edu

About Georgetown University’s McDonough School of Business
Founded in 1957, Georgetown McDonough is home to some 1,400 undergraduates, 1,000 MBA students, and 1,200 participants in executive degree or custom programs. Learn more at http://msb.georgetown.edu. Follow on Twitter: @msbgu.

 

Related Retirement News from Senior Journal Archives

Running out of money is more than just a worry for many seniors

Among those age 85 or older when they died, 20% had no assets left but their homes

By Michelle Andrews May 1, 2015

More at Retirement Section Page

 

Follow on  and 

 

Financial Relief for Volkswagen Diesel Owners

You may be eligible for money damages if you owned or leased one of these VW, Porsche or Audi vehicles.

In the major scandal of 2015, Volkswagen cheated you and the world. They rigged diesel emission controls so you, nor regulators, would know how much pollution their cars were adding to our environment.

They were caught and have reserved $7.3 billion to help "make it right" with victims.

If you owned or leased one of these vehicles, contact us now.

 Beth Janicek, Board Certified Personal Injury Attorney Janicek Law attorneys are actively pursuing these cases against VW. Do Not Wait...

Janicek Law Firm, PC

Free Consultation

(Call toll free)

1-877-795-3425 or Email

Vehicles Involved

VW Jetta (2009–2015)

VW Jetta SportWagen (2009–2014)

VW Golf (2010-2015)

VW Golf SportWagen (2015)

VW Beetle (2012–2015)

VW Passat (2012-2015)

Audi A3 (2010-2015)

VW Touareg (2009–2016)

Porsche Cayenne (2015)

Audi A6, A7, A8, Q5 Quattro (2016)

Keep up with the latest news for senior citizens


Click to More Senior News on the Front Page

Copyright: SeniorJournal.com