From Rob Berger; Forbes ~ Oct 10, 2015
It’s a scary online world out there for investors. Retail brokerage firm Scottrade recently disclosed that hackers stole contact information and possibly social security numbers from 4.6 million customers. Hackers stole personal information from Experian on 15 million people who applied for a regular T-Mobile USA postpaid plan last month. Target (40 million credit and debit cards breached).
From Howard Gleckman; Forbes ~ Oct 09, 2015
If the government doesn’t act soon, nearly one-third of Medicare beneficiaries face a 50 percent increase in their Part B premiums for 2016, while more than two-thirds will pay no premium hike at all. Most beneficiaries will pay the same monthly premium next year as they paid this year–$104.90. But others making the same income will pay $159.30. And some high-income retires will pay as much as $509.80.
By Carolyn Y. Johnson; The Washington Post ~ Oct 09, 2015
A political firestorm is building over the protections for drug companies in Obama administration’s massive international trade deal, threatening support for a key piece of the president’s legacy.
The chapter addressing the issue, which was posted online Friday by WikiLeaks, grants at least five years of exclusivity to the makers of next-generation biologic medicines for diseases ranging from cancer to rheumatoid arthritis.
By Alicia H. Munnell; MarketWatch ~ Oct 08, 2015
Long-term care is a substantial financial risk for most retired households. Yet few buy long- term care insurance. And, among those who do, more than one third with policies at age 65 will let their policies lapse before death, forfeiting all benefits.
A new study by my colleagues at the Center for Retirement Research explains why people lapse and how it affects their welfare. The study tests three alternative explanations for lapsing.
By Robert Powell; USA TODAY ~ Oct 08, 2015
For seven in 10 Medicare beneficiaries 2016 will be much like 2015. They will pay $104.90 per month for their Medicare Part B premium just as they did in 2015.
But 2016 might not be anything like 2015 for some 30% of Medicare beneficiaries — roughly 7 million or so Americans. That’s because premiums for individuals could increase a jaw-dropping 52% to $159.30 per month ($318.60 for married couples). And for individuals whose incomes exceed certain thresholds, premiums could rise to anywhere from $223.00 per month up to $509.80 (or $446 to $1,019.60 for married couples), depending on their incomes.
By Walter Updegrave; CNN ~ Oct 07, 2015
Sometimes we put so much time and effort into the financial aspects of retirement planning — saving the right amount, creating a viable investing strategy, assuring we’ll have adequate income after the paychecks stop, etc. — that we don’t pay enough attention to translating all that financial planning into a more enjoyable and gratifying retirement.
By Ashlea Ebeling; Forbes ~ Oct 06, 2015
The combination of demographics and the recession has put empty nesters and relocators on a collision course for a big tax mistake. They “inadvertently” lose their ability to use their $250,000/$500,000 capital gains exclusion on the sale of their principal residence. “They think the market still has upside so they rent out their house for a few years, but if you haven’t used your principal residence for at least two of the five years prior to the sale, you lose the exclusion,” says Suzanne Shier, director of tax strategy at Northern Trust. There’s an exception for people moving into a skilled nursing facility; Shier explained that to a family and helped them snag the full $500,000 exclusion.
By Richard Cordray & Frank Keating; The Hill ~ Oct 06, 2015
An older woman walked into a bank in a small town on Texas’s Gulf Coast. She wanted to see if a $1,500 check she had deposited the day before had cleared. She got to talking with the tellers and informed them that once the funds cleared, she was going to mail a check for $1,400 back to the sender, whom she had never met.
By Kelley Holland, CNBC; USA TODAY ~ Oct 03, 2015
Saving for retirement is challenging, no doubt. But if you want to know what’s really tricky, consider spending that money in retirement.
Retirees in the past often relied on a simple rule for retirement income: Draw down 4% of your savings every year and you will be all set. But the retirement landscape has changed.
For one thing, people are living longer, and their money has to last all that time. One in four people who are 65 years old today will live to age 90, and one in 10 will live to 95.
By John Lauerman; Bloomberg ~ Oct 01, 2015
AARP, the 37 million-member organization for people 50 and older, is establishing a $40 million venture capital fund to boost innovation and technology that will serve its constituents.
