Carole Fleck

Biography: As a senior editor for AARP Media, I cover personal finance issues, the economy, older worker issues, retirement planning and other news affecting people 50-plus.

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Carole Fleck 'sPosts

Love: A $56 Million Ripoff

Posted on 05/24/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & SavingsThe following is a guest post by Sid Kirchheimer: Love don’t cost a thing? Not according to the latest findings of the FBI’s Internet Crime Complaint Center. More than 10 percent of total financial losses in online scams reported last year — about $56 million out of the $525 million overall — involved romance ripoffs. The biggest losers, in money and heartbreak: Women 50 and older, who lost $34 million, roughly two of every three dollars in romance scams. Similarly …

Beware of Oklahoma Charity Scams

Posted on 05/22/2013 by Carole Fleck | Money and Work | Comments

Bulletin TodayFor those who want to donate money to help the residents of Moore, Okla., devastated by Monday’s deadly tornado, read this first. Oklahoma officials are warning people to beware of fraudulent charities that are cropping up to take advantage of the tragedy. At least 24 people, including nine children, were killed in what officials say was the strongest tornado to ever touch down in the United States. As residents return to their flattened communities, legitimate charities are on the scene, helping …

Surprising Findings on Workers’ Views About Their Jobs

Posted on 05/21/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | WorkTwo interesting studies are out that reveal just how happy and committed workers are at their jobs. In one report, researchers found that a company’s low performers — and not the company’s best workers — actually reported being more motivated and engaged in 42 percent of the 207 companies surveyed. So clearly, job performance doesn’t predict employee engagement. And it’s employee engagement (in other words, a worker’s commitment, involvement and satisfaction) that largely drives businesses to succeed. Many factors go …

Recession Will Haunt Us Into Retirement

Posted on 05/17/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkOlder boomers, many at retirement’s doorstep, lost more than quarter of their net worth during the recession. Yet they may be the last demographic to retire with enough savings to live comfortably, according to a new study. Younger boomers (in their late 40s and 50s), and Gen-Xers (in their late 30s and early 40s) are on track to retire with skimpier savings. Consequently, they’re likely to face a pared-down lifestyle in retirement. Put another way, they’ll be the first two …

Retiree Healthcare Costs Fall (But They’re Still Daunting)

Posted on 05/15/2013 by Carole Fleck | Money and Work | Comments

Bulletin TodayHealth care costs for retirees are going down. But don’t get too excited. A 65-year-old couple retiring this year will still need a whopping $220,000 to pay for health care for the rest of their lives. I know what you’re thinking. How does $220,000 in out-of-pocket medical costs represent a decline? Well, if that same couple retired last year, they would’ve needed $240,000, according to a Fidelity Investments report released Wednesday. By all means, the figure is daunting. But at …

How Much Income Will Your 401(k) Provide?

Posted on 05/13/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkYou may be throwing money into your employer-sponsored retirement plan — let’s hope you are — but do you know how much estimated monthly income your plan will provide over your lifetime? Employers are required by law to provide an outline of what workers can expect to get in estimated monthly retirement income from their traditional pension plans. But that’s not the case for 401(k) and 403(b) plans. [Find out if you're saving enough for retirement with AARP's calculator]. Maybe …