It’s Not Your Father’s Old Age!

This article originally appeared in “The Power of Ideas: A Collection of Insights to Transform the Future,” The Milken Institute, April 2015. Our ability to live longer, healthier and more productive lives is one of mankind’s greatest accomplishments. Most people turning 50 today can expect to live another 30-plus years, most of it in relatively good health. That’s more time than they spent in childhood, in adolescence, and for many, it’s more time than they spend working. Yet, research shows …

Trends Favor Hiring Older Workers

Workers 50 and older face a hurdle that younger peers don’t: how to overcome negative stereotypes that paint them as much more expensive, out of touch with technology and less productive. An AARP report released Monday dispels these myths. The report, “A Business Case for Workers Age 50+: A Look at the Value of Experience 2015,” was conducted by Aon Hewitt and based primarily on data from large employers. A similar report, which confirmed the value of older employees, was done …

Medicare Celebrates a Half Century

Give Medicare and Medicaid an AARP card — they’re turning 50 this year. At a special program on Wednesday commemorating the upcoming 50th anniversary, experts spoke about how the two federal programs have transformed both the country’s health care system and the health of its older citizens. “Medicare has been a health care lifeline for millions of older Americans and must be strengthened for the future,” AARP President Jeannine English said at the conference, sponsored by the LBJ Presidential Library, …

AARP’s Superstar Challenge: 5 Finalists Standing!

With their eyes on the prize — $5,000 and a professional recording session at DMI Music & Media in Pasadena, Calif. — five potential Superstars are bound for AARP’s Life@50+ event in Miami on May 15. The singers, aged 50 to 85, hail from four states and Puerto Rico and boast a wide range of musical backgrounds. They are the elite of nearly 1,300 aspirants who submitted music videos to AARP. The finalists were chosen Tuesday night, during a lively …

Millennials Are Spending Less and Saving for a Rainy Day

While waiting in line last week at Starbucks, I realized that I was the only “guest” ordering black coffee — not a grande, no-foam macchiato concoction — and the only person using cash. The mostly millennial customers were flashing a smartphone app or swiping credit or debit cards. The way our adult children spend and save money is very different from their boomer parents. “I want it fast, and I want it now” is the millennial mantra when it comes …

Why You Should Consider a Roth Conversion

Soon we’ll be looking at tax day in the rearview mirror, which is the perfect time to plan for future tax consequences. One strategy that’s especially good for recent retirees is converting part of a traditional IRA to a Roth IRA. First, a little background. Generally speaking, when you contribute to a traditional IRA, you get a tax break immediately but your money is taxed as ordinary income when you take it out later to live on. A Roth is …