This is scary stuff. Medicare is critical if you want to retire. Without it most boomers and seniors would have crippling medical costs in retirement. Privatizing Medicare is NOT a solution. It would save the government money but throw the risk, and increasing costs, back on the recipients. And it's not broke! Don't break it!
This interesting study by Merrill Lynch and Age Wave examines where retirees choose to live in retirement. Among other interesting results, they found that not only do many retirees choose NOT to downsize their home, they actually move to a larger home to have room for family members to come and visit and as a place that the extended family can gather. That would have a significant impact on planned expenses in retirement that many people probably haven't considered.
Before collecting that final paycheck, new retirees need to make important decisions. And it’s not just money. There’s also the issue of how people are going to fill their time in a rewarding way.
I've tried lots of retirement income planners and one that I really like is the Fidelity Investments Retirement Income Planner. This is not a planner for someone who just wants a rough idea of how much money they need to save. This planner is for someone who is serious about figuring out what they'll need and where they stand (although you can bypass the detailed worksheets and get the rough estimate if you prefer).
The Plus 50 Initiative is a project to benchmark and showcase the most current and innovative programs at community colleges that engage learners age 50 and over. Organized by the American Association of Community Colleges, the Plus 50 Initiative invests in community colleges to create or expand campus programs that engage the plus 50 student population, with a focus on workforce training and preparing for new careers.