Are You Saving Enough for Health Care in Retirement?

You’ve heard this before, I know, and yet it remains as disturbing as ever. Health care costs, along with housing, are likely to be your biggest expenses in retirement. Boston-based Fidelity Investments found that premiums, deductibles and other out-of-pocket expenses could cost a 65-year-old couple retiring today a jaw-dropping $220,000 – and that’s in addition to Medicare premiums. Some boomers are heeding that forewarning: In a survey of 1,002 workers age 50 and older, 62 percent say they’re socking away money for …

The Financial Burden of Being a Family Caregiver

Caring for family or friends is not just a matter of love and time, it’s also a matter of dollars and cents. According to a new survey from Caring.com, nearly half of caregivers spend more than $5,000 per year — a whopping $25,000 over the average caregiving stint of five years. And many spend far more. Complicating things is the reluctance of caregivers to talk about finances: Seven out of 10 have not spoken with loved ones about how to …

Check Out AARP’s Online Social Security Resources

By  Jean C. Setzfand “How secure do you feel about your retirement?” I may be the only person around using that question as a cocktail-party opener. But even if you’re not constantly surveying everyone you know, it’s likely you’ve seen the recent attention-grabbing headlines about people’s lack of retirement savings. So you won’t be surprised to learn that my unscientific surveys match the more qualified studies, in which folks report feeling “anxious” and “uncertain” about retirement or even that it’s “not possible.” …

Cut Social Security? Say Goodbye to Older Voters

Seventy-nine years after its creation, Social Security remains a vital key to Americans’ retirement security. And with the 2014 elections less than three months away, strengthening the program is a top priority for older voters, according to a new AARP survey of voters 50 and older. The message to candidates is clear: Stop treating Social Security like a line item in a budget. Older voters have earned their benefits through a lifetime of hard work and paying into the system. …

Kids’ Best Financial Adviser: Grandma or Grandpa

Grandparents apparently hold more sway over their grandchildren’s saving habits than they know. According to a survey by TIAA-CREF, a New York-based financial services firm, most young adults (73 percent) say their grandparents do influence their money decisions and more than half call their elders excellent savers. Yet few grandparents capitalize on their standing: Only 8 percent say they’ve had or are likely to have a conversation with their grandchildren about money. >> Sign up for the AARP Money newsletter Among …

Your New Retirement Number: $58,000

En español | Financial experts seem to speculate endlessly about boomers’ projected lifestyle in retirement based on their savings and spending patterns. Now a new survey that polled recent retirees about their standard of living has found that, for some, you don’t need a lot of money each year to retire comfortably and live happily. According to the survey by Baltimore-based investment firm T. Rowe Price, recent retirees report living on 66 percent of their pre-retirement income on average – $58,000 …