Boomers Spending Less on Leisure, More on Education, Mortgage Interest, Adult Kids

These days, keeping up with the Joneses is more likely to involve night classes than a new sofa. A study on boomer spending habits found middle-aged adults today spend less on leisure and frills than previous generations but more on education, adult children and mortgage debt.

Medicare Patients Spend Thousands Out of Pocket at End of Life

Using data from a national longitudinal survey, Mt. Sinai professor Amy Kelley looked at out-of-pocket medical costs near the end of life and uncovered some sobering statistics. A whopping 43 percent of Medicare patients end up spending more than the total value of their assets, excluding real estate, on end-of-life care, while 25 percent spent all their assets including including any money from home or property.

Convince Your Kids to Save in a Language They Understand: Beer

Over at LifeTuner, we were pretty proud of our infographic that depicted the power of compounding interest, but we may have just been outdone. The folks over at RothIRA.com have put together a great graphic that shows how saving small early can lead to big gains by converting dollars into a more attractive retirement goal: a giant tower of beer. The savings rate is a little on the small side ($1/day), so throw in a tidbit about being able to …

Why Retiring Abroad Could Save You Money

In a previous blog post, I wrote about one of the key perks of living in Latin America – affordability. I wrote that you can live quite comfortably in Latin America on your Social Security benefits, despite the fact that those benefits have only risen 3.6 percent in the last three years. For a retiree in 2012, the average Social Security benefit is $1,230. One of my favorite treats, I mentioned, is that in Ecuador, I can afford to hire …

The 7 Things Your Kids and Grandkids Need to Know About Money

Over at LifeTuner, we have a series of seven rules designed to help get your kids and grandkids financially fit and keep them that way that we call the “7 Smart Money Essentials.” Some are hard-and-fast rules (Save at Least 10%), others are general guidelines (Limit Your Debt), and while we’re proud of how effective they can be, they were looking kind of…, well, blah. Personal finance can be mundane, but it doesn’t have to be. To help us shake …

Jane Lynch Helps Launch Student Debt Website

Jane Lynch, best known for her portrayal of sometimes-sadistic cheerleading coach Sue Sylvester on Glee, is lending her star power to help stop the student loan crisis by participating in a series of public service announcements to launch the National College Finance Center (NCFC) website. The NCFC site is a one-stop-shop for student loan information, offering calculators, repayment action plans, and loan guides to help borrowers get step-by-step instruction on how to pay back student loans in what can be …