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health care

This week’s money news

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This week’s top story: Weekly mortgage rates rise, but long term expectations are lower. In other news: In-app deals and rewards, how to take control of awkward money conversations, and how Trump and Harris aim to address your health care.

Weekly Mortgage Rates Rise, But Long Term Expectations Are Lower
Where are mortgage interest rates headed?

Looking for Deals? You Might Need an App for That
In-app deals and rewards aren’t new, but they’ve become the perfect place to tempt inflation-weary customers in search of a good deal.

How to Take Control of Awkward Money Conversations
When families get together, uncomfortable financial discussions can follow. Here’s how to navigate them.

How Trump and Harris Aim to Address Your Health Care
Health care policy proposals from the presidential candidates have been light on details.

Wednesday’s need-to-know money news

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Today’s top story: More than half of travelers have the same New Year’s resolution. Also in the news: Saving on a new car from the factory, how to travel to Super Bowl LVI on a budget, and how to help your parents navigate health care in retirement.

More Than Half of Travelers Have the Same New Year’s Resolution
Remote work options will enable many people to travel in ways they couldn’t in the past.

Order a New Car From the Factory and Save
Waiting a few weeks or months gets you the vehicle you want, and perhaps a better price.

How to Travel to Super Bowl LVI on a Budget
If you splurged on tickets to the big game, here’s how to save on your flights and hotel.

How to Help Your Parents Navigate Health Care in Retirement
Try these tips to be the best advocate for your parents when and if they need your help.

Monday’s need-to-know money news

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Today’s top story: How to help your parents navigate health care in retirement. Also in the news: What to buy (and skip) in January, borrow a 2022 money goal from a finance nerd, and would you relocate for $10K?

How to Help Your Parents Navigate Health Care in Retirement
Try these tips to be the best advocate for your parents when and if they need your help.

What to Buy (and Skip) in January 2022
New tips for the new year.

Need a 2022 Money Goal? Borrow One From a Finance Nerd
Set yourself up for success by setting reasonable goals, breaking them down into smaller steps and being persistent.

Would You Relocate for $10K? Should You?
Before you pack your bags, read the fine print, talk to your employer and assess your own deal-breakers.

Let’s get real about health costs in retirement

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You won’t pay for health care in retirement with one lump sum. That’s the way these expenses are often presented, though, and the amounts are terrifying.

Fidelity Investments, for example, says a couple retiring in 2019 at age 65 will need $285,000 for health expenses, not including nursing home or other long-term care. The Employee Benefits Research Institute says some couples could need up to $400,000 — again, not including long-term care. The Center for Retirement Research at Boston College hasn’t updated its figures recently, but back in 2010 estimated a typical couple could spend $260,000 for medical and long-term care, with a 5% risk that costs will exceed $570,000.

No wonder 45% of people in their 50s and early 60s have little or no confidence that they’ll be able to afford their health care costs once they retire, according to a survey by the University of Michigan.

In my latest for the Associated Press, a health care cost reality check.

Thursday’s need-to-know money news

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Today’s top story: How to score luxury travel for less. Also in the news: Target’s Black Friday ad, how to save money on health care, and breaking down the three new tiers of economy airline fares.

How to Score Luxury Travel for Less
Luxury travel at less-than-luxurious prices.

Target Black Friday 2018 Ad, Deals and Store Hours
Start your list.

How to Save Money on Health Care
Important questions to ask.

Breaking Down the Three New Tiers of Economy Fares
Even economy has tiers now.

How to save money on health care

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Americans on average spend more on health care than they do on groceries, according to the Bureau of Labor Statistics’ latest Consumer Expenditure Survey. Saving money on medical care is a lot tougher than saving money on food, however. Two big culprits: opaque pricing and ever-changing insurance company rules about what’s covered and what’s not.

For help in cutting costs, I turned to a uniquely qualified individual: Carolyn McClanahan, an emergency room doctor turned certified financial planner. McClanahan, director of financial planning at Life Planning Partners in Jacksonville, Florida, frequently speaks at industry conferences, teaching other advisors how to help their clients best navigate the health care system.

In my latest for the Associated Press, the three questions everyone should ask to save money on health care.