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Lance Armstrong Will Race Again
Tweet Share on Facebook September 9, 2008 Comment (13)Updated on 09/09/08: It’s official. Lance Armstrong is returning to racing. Watch the announcement in his own words here.
Rumors are swirling on the Internet that Lance Armstrong plans to end his retirement and compete in the 2009 Tour de France.
The cycling journal VeloNews reports Armstrong also will compete, for no salary or bonuses, in four other races: Amgen Tour of California, Paris-Nice, the Tour de Georgia, and the Dauphine-Libere.
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A Baby Boomer Beach Vacation
Tweet Share on Facebook September 9, 2008 Comment (1)Renting a house with a group of friends at the beach isn't just for college students on spring break. Now, over-50 singles or those "re-singled" by divorce or the death of a spouse are reclaiming the beach house as their own. But instead of beer pong and binge drinking, some baby boomers are engaging in more sophisticated beach activities, including "tennis matches in the morning and cocktails on the beach in the late afternoon. Their first party this year was a black-tie affair, and a recent dinner featured grilled swordfish steaks and pinot grigio, accompanied by gazpacho served in chilled martini glasses," the Washington Post said in an article about one group of renters. "The singles host progressive gourmet dinner parties and take turns throwing the weekly, invitation-only cocktail party."
Tell us, do you still take vacations with your single friends?
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Obama and McCain Offer Opinions on Social Security
Tweet Share on Facebook September 8, 2008 Comment (7)Presidential contenders John McCain and Barack Obama offered very different visions for solving Social Security's financial problems Saturday in separate satellite appearances at AARP's Life@50+ expo in Washington, D.C.
Senator McCain said he remains open to private investment accounts for younger people, while Senator Obama would rather raise taxes for those earning more than $250,000 a year to shore up the system.
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Gap in Medicare Drug Coverage Causes Some to Stop Medication
Tweet Share on Facebook September 5, 2008 Comment (7)The doughnut hole—besides being a tasty treat—is what many people call the gap in Medicare Part D prescription drug coverage. Seniors who reach this gap must pay for the entire cost of their prescriptions out of pocket. Some retirees who can't afford their medicines actually stop treatment as a result, according to a recent study.
The standard Part D benefit has a $275 deductible and 25 percent coinsurance up to $2,510 in total drug costs in 2008. Then comes the doughnut hole where enrollees pay all of the next $3,216 in prescription costs. After that, catastrophic coverage kicks in, and beneficiaries pay 5 percent of any additional medicine costs.
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Retiring Near Your Grandchildren
Tweet Share on Facebook September 4, 2008 CommentLast week, I asked readers to E-mail me recommendations for great places to retire. One reader from Kansas wrote me to say that the actual town was irrelevant.
"Retire near your grandchildren if you are lucky enough to have them," she said. "If you are in the North, get a new furnace. If you are in the South, get a new air conditioner. Stay near an airport so you can travel to South America where you can still afford to visit." But the most import thing to her was to watch her grandchildren grow up.
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Retooling for Your 'Retirement Career'
Tweet Share on Facebook September 3, 2008 Comment (1)Steve Gaylord, 51, of Valley View, Texas, studied engineering management in college. "I was kind of a computer guy, a math guy, at 18 or 19," he says. And throughout his career, Gaylord has taken computer classes on Visual Basic and Java to keep his skills up to date for his current job as a technical sales specialist for IBM. But now that he's thinking about retirement, Gaylord would like to do something completely different—like ranching.
Gaylord wants to spend more time working with his horses in retirement, something that requires him to retool by taking classes in horsemanship and farming. "Most of the people in the classes are 19- or 20-year-old kids, but a few of us are 45 or 50," he says. "It's kind of hard to become an expert rider or horseman after the age of 40 because your body doesn't move like a 20-year-old."
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The Best Age to Buy Long-Term-Care Insurance
Tweet Share on Facebook September 2, 2008 Comment (37)Not everyone needs long-term-care insurance. According to Consumer Reports Money Adviser, only people with assets between $200,000 and $2 million should be perusing policies. Retirees with assets of $2 million or more should be able to pay for the full cost of care. And those with a net worth below $200,000 to $300,000 (not including a house) won't be able to comfortably afford pricy premiums and will probably rely on government programs if they need long-term care.
Here's what Consumer Reports uncovered about the ideal age at which to buy:
40s. There is very little reason to buy a plan at this age. Although premiums are lower, you will spend more over time. Plus, there is no guarantee the premiums won't rise.
