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Recent Money & SavingsPosts

Winners Show Off Frugality in AARP Savings Challenge

Winners Show Off Frugality in AARP Savings Challenge

Posted on 05/14/2012 by | The Ultimate Cheapskate | Comments

Money & Savings | Your LifeOnce or twice a year for the past four years I’ve had the pleasure of hosting an online “Savings Challenge” here on the AARP website. Members of the Savings Challenge group – now more than 5,000 strong – compete in weekly challenges throughout the month-long contest, and then three overall winners are selected at the end of the Challenge. Savings Challenges are one of the true highlights of my year. I get a sort of cheapskate high during them, like …

NBC Nightly News: Changing Careers On the Road to Retirement

Trading Higher Pay for Higher Job Satisfaction on the Road to Retirement

Posted on 05/12/2012 by | AARP Blog Author | Comments

Money & Savings | WorkDownshifting your career can mean an uptick in job and life satisfaction. As Ron Mott explains in this NBC Nightly News “Road to Retirement” segment, many Americans – especially people 50+ – are opting to take the reins themselves. That was the case with Gay Spear of Charleston, South Carolina. The former postmaster and marine became a tour guide and she isn’t looking back. “To me it’s more fun than it is work.” Apparently more people are willing to trade …

Thousands Lose Long-Term Jobless Benefits

Posted on 05/10/2012 by | Money and Work | Comments

Money & Savings | WorkMaking house payments and putting food on the table could get much more difficult for some 200,000 chronically unemployed workers around the United States. On Friday, federal long-term jobless benefits are set to expire in eight states–Texas, California, Colorado, Connecticut, Florida, Illinois, North Carolina and Pennsylvania, according to the National Employment Law Project. This comes one month after extended unemployment benefits expired in 15 other states, cutting off hundreds of thousands of long-term unemployed workers. “This is pretty devastating to …

The Takeaway: Couples Need $240,000 For Health Care In Retirement

The Takeaway: Couples Need $240,000 For Health Care In Retirement

Posted on 05/9/2012 by | AARP Blog Author | Comments

Money & Savings | News RoundupsOof. The latest estimate of an average American couple’s retirement health care costs is $240,000. The calculation, from Fidelity Investments, is based on a 65-year-old couple with Medicare coverage, and factors in things like premiums, co-pays, deductibles and out-of-pocket prescription drug costs. It doesn’t factor in things like long-term care, dental services, over-the-counter meds or hearing aids.

Economists: More older workers retired in April

Economists: More older workers retired in April

Posted on 05/8/2012 by | Money and Work | Comments

Money & Savings | WorkYesterday I wrote about droves of older Americans who’d checked out of the workforce in April, perhaps because some were unemployed for a long time and had given up looking in a weak jobs market. But a few economists who’ve been studying the labor force see a more positive trend: they believe many of these people just plain retired. Economist Mark Zandi, in a USA Today report, says more employed workers than unemployed dropped out of the labor force last month. …

Study: Boomers Give Up Savings to Help Parents, Kids

Study: Boomers Give Up Savings to Help Parents, Kids

Posted on 05/8/2012 by | Multigenerational & Family Issues | Comments

Home & Family | Money & Savings | RelationshipsBaby boomers are selfless? Apparently many are, according to a new study by Ameriprise Financial. The financial group’s recent study, Money Across Generations, polls three generations: affluent baby boomers (with $100,000 or more in investable assets) along with both the parents and the children (over age 18) of baby boomers. New findings from the study indicate that baby boomers are holding off on major purchases and instead of channeling those savings into retirement accounts to support their Gen X and …

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