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Money Questions? Carrie Schwab-Pomerantz Answers Them

Posted on 03/21/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsCarrie Schwab-Pomerantz (yep, Chuck’s daughter) doesn’t want you to lie awake at night, worrying about whether you’ll be able to afford to retire. Instead, she wants you to consult her new compendium for advice, not unlike the way patients thumb through a medical reference guide to learn about a particular disorder. The chapter titles in The Charles Schwab Guide to Finances After Fifty are similar to the questions in Ask Carrie, her syndicated personal finance column. Are you in your 60s and way …

Tools to Shore Up Retirement Savings

Posted on 01/23/2014 by | Money and Work | Comments

Money & SavingsThe road to retirement may seem uncomfortably short, particularly if you’re in your 50s and haven’t saved much. The latest Federal Reserve data shows that households with people ages 55 to 64 have accumulated a median $120,000 in retirement savings. That amounts to about $400 to $500 a month in income, according to a CNBC report, on top of the average monthly Social Security benefit of $1,294. If you’re 10 to 15 years out from your projected retirement date, it’s …

AARP Debuts New Health Care Costs Calculator

Posted on 11/18/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsIt could be a costly mistake if you aren’t considering health care costs in your retirement plan, financial advisers tell us. According to the latest estimate by Boston-based Fidelity Investments, premiums, deductibles and other out-of-pocket expenses could cost a 65-year-old couple retiring today a hair-raising $220,000 — and that’s after Medicare coverage kicks in. Yet we seem to be a little short-sighted. In a recent Fidelity poll of more than 1,800 people, nearly half of adults ages 55 to 64 believe …

Retire at 62… 65… 70? New Social Security Calculator Shows You the Money

Posted on 07/12/2011 by | AARP Blog Author | Comments

WorkTiming is everything. Good things come to those who wait. Patience is a virtue. Why is a cliché-fest so appropriate when it comes to deciding when to claim your Social Security benefit? The numbers tell the story. Sign up for the AARP Money Matters newsletter And now there’s a fast and easy way to estimate the impact on your own bottom line: AARP’s  interactive online Social Security Benefits Calculator. It’s free and available to anyone, regardless of age. Why is …

Beaches and Your 401(k) Plan

Posted on 06/15/2011 by | AARP Blog Author | Comments

Money & SavingsWhat do these two things have in common? They’re both subject to erosion – of the natural and man-made varieties. Obviously you have more control over your 401(k) than what your favorite beach destination will look like years down the road. Personal Finance Writer Sandra Block of USA Today recently highlighted five things that can sabotage your 401(k): loans, rollover decisions, hardship withdrawals, cashing out early, and fees. Some things  — like cashing out early and hardship withdrawals — can …