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

Boomers Predict Relaxing Retirement. Not.

Posted on 05/6/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & SavingsOur parents may have moved to a warmer climate, traveled around the globe or retreated to the porch rocking chair in retirement. But boomers’ ideas about how they plan to spend their retirement years don’t seem nearly as relaxing or leisurely. A new study finds that nearly one in two pre-retirees expects to work part-time or full-time in retirement — but in another line of work altogether. They’ll apparently need the income, because one in two also expects to be …

Older Workers See Gains In Jobs Report

Posted on 05/3/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | WorkDespite fears of a spring slowdown, the economy continued to improve in April as employers created 165,000 new jobs and the unemployment rate held steady for older workers, the government reported Friday. Among all workers 55 and older, the jobless rate remained at 5.5 percent last month, same as in March. For men in that age group, the rate held steady at 5.7 percent for the second consecutive month. For women, the unemployment rate fell from 5.2 percent in March …

Patients Willing to Ditch Doctors to Save Money

Posted on 04/30/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | Personal HealthWe patients tend to be stubbornly loyal to our trusted physicians. We respect their experience and seek their advice. Unless we can save a few bucks by switching doctors. Then some of us are out the door before the receptionist can tell us to have a seat. In a new poll of 713 people, as many as 1 in 3 say they’d rather pay less for their health plan, even if it meant swapping doctors. Half of those who’d make …

Retirees Borrow Against Pensions at Loan Rates Up To 106%

Posted on 04/29/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & SavingsUPDATE: Last week, we cited a report by The New York Times that a growing number of older adults are using their pensions as the basis to borrow cash — and paying interest rates as high as 106 percent. That report caught the attention of New York banking regulators. They’re now probing 10 companies that do pension advances, the Times reported Tuesday. Benjamin M. Lawsky, who heads the Department of Financial Services (DFS), calls pension advances ‘‘nothing more than payday …

Mulling a Payday Loan? How Does 322% APR Sound?

Posted on 04/24/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & SavingsIn this economic climate of relatively low interest rates, who pays 322 percent in annual interest for short-term loans? Consumers who repeatedly take on payday loans. That’s right. The average consumer who may be short on cash, and gets payday loans to bridge the gap until the next payday, winds up shelling out 322 percent interest or more on the money borrowed. Or put another way, it’s an average $15 interest on every $100 borrowed in a $350 loan over …

Home Ownership and the Value of Paychecks

Posted on 04/23/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkTwo reports are out on home ownership and how far paychecks go in certain cities. They’re not related, except that you need a paycheck to buy a home, generally, but I found the research interesting. In the Gallup report, the findings showed that the recent housing bust didn’t scare off most younger adults from chasing the American dream of home ownership. Of some 3,400 people polled, nearly 70 percent of those ages 18 to 29, and almost 30 percent of …