Retiring Early? Pony Up $51,000 Extra for Health Care, Fidelity Says

Are you and your spouse thinking about retiring early? Doing so can cost you, as a couple, an extra $17,000 a year in medical costs, according to a Fidelity Investments analysis. The Boston-based investment company compared the projected average health care costs of couples retiring this year at age 65 with those of couples retiring as early as age 62 and as late as 67. It assumed they would have Medicare coverage at 65, although the analysis doesn’t include costs for nursing home and …

Why Your Children Should Help Pay for College

Spring means college admissions, and we still recall the agonizing wait for the mail carrier. A thin envelope brought bad news, a thick envelope acceptance. Today, though, the “envelope” arrives via email – and that’s not all that’s changed. These days, the sticker price for private colleges starts at about $40,000 a year, going much higher for a prestigious institution; in-state schools run about half that. Nearly as soon as the anxiety on the admissions front dissipates, it’s replaced by …

4 Myths About Daylight Saving Time

Let’s hope you’ve recovered from Groggy Monday, the day after we turn our clocks ahead an hour (and lose an hour of sleep) for that  convoluted practice called daylight saving time. Even though studies show that this fiddling with our sleep schedule is a bad idea – a higher risk of car accidents from sleepy drivers during the Monday morning commute, workplace injuries because of tired workers, a spike in heart attack risk – we’re still somehow wedded to “springing …

Rising Propane Prices, Shortages Add to Winter Woes

Persistent record-setting low temperatures across much of the United States are making this a tough winter for many families. Households face higher heating bills as prices for heating fuels continue to increase with rising demand sparked by the cold. Price increases for liquid propane have been significant. The Department of Energy estimates that 6 million households, mostly in the Midwest and Northeast, use propane as their primary source of heating fuel. Low inventories and high demand for the fuel have …

Learn More + Earn More = Live Longer?

How long you live has a lot to do with income and education. That’s the message from experts who testified on Nov. 20 at a U.S. Senate hearing on “Dying Young: Why Your Social and Economic Status May Be a Death Sentence in America.” >> Sign up for the AARP Money newsletter. As Steven Woolf, M.D., the director of the Center on Society and Health at Virginia Commonwealth University, put it, “the lower people’s income, the earlier they die and …

Tap These Tools to Figure Your Health Plan Costs

Looking to compare health insurance plans and costs? Read on. If you’re buying insurance  from one of the new health insurance exchanges created by the Affordable Care Act, a calculator created by the nonprofit Kaiser Foundation may help you. It illustrates health insurance premiums and state-based tax credit subsidies that may be available to you if you’re  middle-income, under age 65, and not eligible for coverage through your employer, Medicaid or Medicare. (The calculator doesn’t work for people in New York, Kentucky, …