Family Caregiving Worth $470 Billion a Year, AARP Finds

The economic value of the nation’s family caregivers’ unpaid work is an estimated $470 billion a year — an amount about equal to the annual sales of Wal-Mart, the world’s largest company. That’s the top finding from the AARP Public Policy Institute’s new report, “Valuing the Invaluable: 2015 Update.” The survey found that an estimated 40 million U.S. caregivers devote about 37 billion hours to assisting adult relatives or close friends. Get the support you need to care — AARP Caregiving Resource Center » …

How to Make Your Financial Dreams a Reality

In his “I Have a Dream” speech, the Rev. Martin Luther King Jr. encouraged us to think about the real possibilities of a brighter future — a future that affords us to live in comfort and prosperity. It is in that spirit that we encourage you to evaluate your dream of financial security. >> AARP’s Financial Freedom Program There are several steps you should consider to help you work toward financial freedom as you kick off the new year with a …

Should I Buy Long-Term Care Insurance?

One of the most frequent questions I get from clients is whether to buy long-term care insurance. With the average cost of a private room in care facilities topping $94,000 a year, according to a 2013 study by insurer John Hancock, it’s a reasonable concern. Many of us will need some form of long-term care (LTC), so the question of whether to buy insurance to help with the associated costs is a real one. I think the decision is a very close call. At …

AARP Report Finds Sky-High Drug Prices

Escalating drug prices have been making the news in recent months. In particular, the exorbitant price tags of two brand-name drugs used to treat Hepatitis C — Solvaldi and Harvoni — have ignited intense controversy. I talked with Leigh Purvis, director of health services research, AARP Public Policy Institute, and coauthor of AARP’s Rx Price Watch Report: Trends in Retail Prices of Brand Name Prescription Drugs Widely Used by Older Americans, 2006-2013 about the trend in rising drug prices and what …

Make Last-Minute Deals Work for You

Does the phrase “last-minute” make you nervous? It shouldn’t. All you need to know is when you want to go. If your agenda isn’t set in stone, and if you’re willing to spend a little time on research, you can put together a perfect vacation in no time. In fact, some of the most savvy travelers plan all their travels this way. Here are some of their best tips. Make some preliminary decisions. Start by balancing your cost savings with …

Two and a Half Inflation Myths

Inflation lately has been pretty tame. Still, the possibility that it could raise its ugly head again, eating away at our spending power and standard of living, is always in the back of our minds. That’s why it’s important to understand inflation to better protect ourselves from its potential impact. Knowing these myths about inflation is a good place to start. Myth one: Inflation is easy to predict. The U.S. Bureau of Labor Statistics (BLS) measures inflation and reports consumer …