updated: Mon Apr 09 2012 13:35:00
You may actually risk suffering physical harm while caring for a loved one. Don Lemon talks to Dr. Wendy Walsh.
As the clock is ticking for the super committee to make some $1.2 trillion in cuts, companies and groups are spending more to influence what's on the chopping block.
While America retains many underlying strengths, economists increasingly worry that unless we change course, the United States could be heading toward an economic train wreck. For months, the focus has been on the country slipping into a debt crisis. In the past few weeks, concerns have risen sharply about economic growth as well. Two top economists, Larry Summers and Carmen Reinhart, have asked aloud whether we could be stumbling into a "lost decade," a catastrophe that swept Japan in the 1990s.
The AARP said Friday it expects Social Security benefit cuts to be part of a package to make the program solvent for the long run.
After record job losses, falling home prices and devalued investment portfolios, the recession has taken a toll on many Americans' financial well being. But retirees and those close to retirement, with little time left to rebuild their savings, face particular hardship.
We have role models for everything. Not that Oscar-winning "Braveheart" director and "Lethal Weapon" actor Mel Gibson counts these days, but before 2009 he had a 28-year-marriage that produced seven children and some respectability. Then he turned his life around.
Republicans are taking aim at America's oldest senior citizens group, AARP, in the wake of a GOP-authored report that they contend exposed "the conflict between AARP's drive for profits, the best interests of its members and the organization's tax-exempt status."
My wife and I are 62 and just starting to take Social Security. We're thinking about taking out a reverse mortgage and using it as a line of credit. The extra money could come in handy. What do you think? -- S.W., Red Oak, Texas
The preparation before work each morning starts in a methodical fashion. By 6 a.m., Morris Wilkinson, a 91-year-old letter carrier, irons his postal worker uniform -- a crisp, collared shirt and gray slacks -- a habit he formed while in the Marines during World War II.
Jobs continue to be out of reach for unemployed Americans as the latest jobs report indicates. To compete in today's tough job market, you may need to update your search habits.
With the new deductions and credits from the stimulus package, covering everything from home purchases to college tuition, this is the year to be sure your tax return takes advantage of it all.
Older workers are not only falling out of the job market, they're trying to stay in the job market longer.
Consider this, if you have doubts about any lingering damage to your retirement savings from the financial crisis: Although stocks are up more than 60% since March, the 401(k) of a typical boomer at the same company for at least 10 years is still worth less than it was two years ago -- even with additional contributions over that period and employer matches. No surprise, then, that a recent AARP study found that 42% of boomers are now worried that they won't have enough money to retire comfortably.
updated: Sun Nov 08 2009 00:40:00
President Obama says he is pleased that the AARP is endorsing a health care bill supported by the administration.
The push to overhaul health care received a major boost Thursday as the American Medical Association and AARP endorsed legislation drafted by top House Democrats.
Landing a job is tough and a new study shows that no one is finding it more difficult than older workers. Of those who did find work, many are having to settle for entry-level jobs. Others are starting their own businesses.
My family has learned the hard way why you can't ignore finances while dealing with the emotions that surround a life-changing event like job loss or the death of a loved one.
The job outlook is bleak - especially for older folks, teens, and recent college grads. But there are resources that are available to you.
Over two and a half million Americans lost their job last year. And more job cuts are expected this year. If you find yourself out of work, retraining may be the only option. Here is where you can find help free right now.
DENVER, Colorado: 'Take us back from the direction we've taken'
Rich Ortiz, 60, has spent the past 30 years training and certifying technicians, including the team at Rocketdyne that developed the space shuttle. He now teaches 26 different technical certification courses at aerospace and defense giant Pratt & Whitney in Los Angeles.
updated: Fri Sep 19 2008 17:41:00
CNN's Maggie Lake explains the reasoning behind the broad U.S. program aimed at stemming the credit crunch.
Last year, borrowers took out more than 132,000 reverse mortgages - 50% more than the year before and almost 10 times as many as five years ago. Such loans, as you may already know, allow you to draw down your home equity if you're 62 or older without repaying it as long as you stay in your house.
Too young to retire, too old to get a new job. That's how many older workers are feeling these days.
The economic downturn is hitting middle-aged and older American workers hard, forcing more than one in four to postpone retirement, according to a survey released Tuesday by the AARP.
Mortgage payments sucking you dry? Boomers short on retirement savings may have another option: reverse mortgages. Can these complicated products fill the gap?
My AARP card arrived in the mail last year, unsolicited, just a few months shy of my fiftieth birthday, like it does for just about everyone - and I reacted like, well, just about everyone.
You're rushing to drop the kids at school, fumbling with coats and lunch boxes, when you get the call. Mom's had a fall, and she's in the E.R. Your dad is panicked and asking you to come home, now.
Are your savings goals on target for your golden years? Here are tips to help you sock away the right amount.
Every seven and a half seconds, a member of the baby boomer generation turns 50. So in a 45-minute conversation with Bill Novelli, CEO of the AARP, 360 Americans became eligible to join the powerful lobbying organization that Novelli has headed for the past six years.
The AARP's latest list of the top places to work for people over 50 includes some household names, like Volkswagen of America (#6), drug maker Hoffmann-LaRoche (#10), L.L. Bean (#43), and John Deere (#50).
While half of all baby boomers expect to be working past 65 years old, only about 13 percent of retirees are actually doing so, according to a recent study.
ON A FEBRUARY DAY IN 2005, Tom Mitchell received a panicked phone call from his dad and stepmom in Columbiana, Ohio. Len, 82, and Ruth, 64, told him that their entire $100,000 retirement savings wa...
What careers/companies might consider older people? - Megan
On a February day in 2005, Tom Mitchell received a panicked phone call from his dad and stepmom in Columbiana, Ohio.
Yes, growing older does have a silver lining. But not every senior discount beats what young'uns pay. How can you tell a good deal from a crock of Geritol?
He's Jim Aley, he's 40, and, yes, he just joined AARP. Turns out that this organization of more than 36 million members is ready and willing to take in people who aren't "over 50," though that desc...
2005's 50 best companies for people over 50, according to the AARP:
Retirement planning is fraught with uncertainty, but one outcome is sure: When we baby boomers wrap up our careers, we're not going to retire to a rocker on the back porch. No, we're going to have ...
Americans pay more for health care per person than citizens anywhere else in the world -- as much as 53 percent more than any other country, according to a recent study published this month in Health Affairs magazine.
BILL NOVELLI DOESN'T ACT LIKE one of the most powerful people in Washington--he's mild-mannered and informal. But to see the future of domestic policy, there may be only one question you need to as...
These 35 employers bend over backwards to recruit and retain older workers, and treat them right, according to the AARP.
A group that has funneled millions of dollars into Republican policy battles is now taking on one of the nation's most powerful lobbying groups -- the AARP -- in the battle to overhaul Social Security, a news report said Monday.
Federal law gives employees returning reservists more rights than ever, but there are still limits. Plus, mentors for women entrepreneurs, and more on opportunities for people over 50.
The AARP signaled for the first time how vehemently it would fight President Bush's proposal for private Social Security accounts, saying it would launch a $5 million, two-week advertising campaign against the plan timed to coincide with the start of the new Congress, a newspaper report said Thursday.
There will be less knitting and daily golf games for baby-boomers in their twilight years. The AARP expects the number of silver-haired entrepreneurs to rise in the coming years. How will this chan...
The traditional view of retirement -- quiet contemplation interrupted by the occasional brisk game of shuffleboard -- has given way to a version that can include anything from trekking the Himalayas to launching a post-career career.
By 2030, the number of Americans over age 65 could more than double, putting a strain on the federal budget. But Fed Chairman Alan Greenspan says retirees can lessen the burden by financing more of their retirement themselves.
Money problems plague every age category. We've been focusing on debt problems at different life stages, and today we're looking at how seniors get in trouble.
In a move likely to stoke domestic political flames around President Bush, the nation's largest senior lobby confirmed Tuesday that it will endorse bipartisan legislation to legalize importing cheap prescription drugs.
When AARP threw its weight behind the $400 billion Republican-led Medicare prescription-drug bill now headed for a vote in Congress, plenty of Americans had one response: Huh?!? Many seniors who se...
Chances are these days, your home is your most profitable investment. Sky-high appreciation rates have added hundreds of thousands of dollars to many homeowners' personal wealth.
Maybe it's a coincidence, but Washington is gorging on red meat. Carnivores have stormed the capital, and this city is nothing if not adaptive. From Smith & Wollensky to Nick & Stef's, from Angelo ...
The Riviera Theatre in Charleston, S.C., is an unlikely place to find the future of medicine. But that's where we found it in mid-May, at TEDMed2, an offshoot of Richard Saul Wurman's regular TED (...
Q. My 82-year-old dad is digging himself deep into debt. He owns a small house in California, collects Social Security and has a modest pension. But he spends a lot more than he takes in. For one t...
Most leaders of lobby groups are as slick and silver-tongued as the politicians they try to influence. Not Horace B. Deets, head of the most feared lobby in Washington, the American Association of ...
MONEY's reporting on consumer issues has generated a run of interesting mail. Readers have expressed passionate opinions on a range of recent subjects we've covered, including insurance rip-offs, c...
Lately, more and more older home- owners are turning to reverse mortgages to supplement their retirement income. Think of a reverse mortgage as a spigot that allows you to pour your home equity int...
THIS MONTH: --Tips from an ex-broker --Why divorcing your spouse may be harder to do --Bob and Liddy Dole: They'll retire on $5.5 million
THE CASE FOR AGEISM
AGE HAS ITS PRIVILEGES, and not the least of them is that once you hit 50, you can get great discounts on products you buy and places you go. The problem is that many of these deals are unadvertise...
Never in its 37-year history has the American Association of Retired Persons (AARP) been under closer scrutiny. In particular these days, the 32.2-million-member group for people 50 and over, found...
The Internal Revenue Service and charities are slugging it out again. Nonprofit groups keep launching new money-raising ventures, like this fall's splashy fashion industry T-shirt sale that will be...
If you have a diversified portfolio, chances are that at least one of your investments -- maybe one you still think will thrive long term -- has soured over the past year. A potential sweetener, ho...
Losing your spouse can leave you not only devastated emotionally but unprepared financially. Sadly, unscrupulous financial planners, insurance agents and stockbrokers who search the obituary notice...
Check it out: a bright, clean room, an extra-long mattress, a sparkling pool outside, a color TV with HBO and a remote that works, free coffee and Danish in the lobby -- all for less than $50 a nig...
You no doubt have found a lot of folks eager for your business these days. There's that persistent broker who keeps calling, for instance, and that smiling sales rep in your bank lobby. You may eve...
Why is it that even if Bill Clinton gets every tax increase and spending cut he wants, the deficit starts widening again after 1996? The answer is disarmingly simple: the elderly. This year the cos...
With the ranks of workers ages 50 and up growing by about 1% each year amid massive corporate layoffs, age-bias complaints filed with state and federal regulators have jumped 28% since 1990 to more...
Free advice is not always worth what you pay for it. And here's the proof: The 29 free or nearly so (top cost: $3) brochures, pamphlets and books listed here can provide valuable information on fin...
In the past 10 years, the cost of the average prescription drug has increased more than 150% -- or roughly twice the rise of inflation. Rather than swallowing that entire price hike, however, cost-...
-- Act quickly if you want to take advantage of today's low-interest-rate mortgages and home-equity loans. Adjustable-rate mortgages, for example, are available at initial rates of 7% or less from ...
Millions of working Americans may have a fresh reason to worry about the looming recession: its effects on their pensions. No fewer than 50 large U.S. companies -- including General Motors, RJR Nab...
Frail elderly people and the disabled increasingly rely on panic buttons -- beeper-size devices they carry in the pocket or wear on a cord around the neck or wrist -- to summon help instantly. By p...
The Supreme Court's recent first-ever decision in a right-to-die case makes the most convincing argument yet for writing a living will. That's the document stating the circumstances under which you...
Le Corbusier, France's foremost 20th-century architect, called a house ''a machine for living.'' For someone who bought one a decade or more ago, when inflation was bumping up prices at annual rate...
A recent survey found that, of the 3.7 million American families now taking care of an elderly relative or friend, more than a third get no assistance from any outside service, agency or home healt...
Already a powerhouse lobby in Washington, the American Association of Retired Persons may soon emerge as a leader in personal finance. A credit union AARP launched in May is breaking all records fo...
It is an article of faith in America -- and an explicit mandate of the Bill of Rights -- that no citizen may be deprived of life, liberty or property without due process of law. But consider the fo...
Your article ''The Empire Called AARP'' (October) was ambitious and generally fair-minded. Despite your extensive reporting on some aspects of AARP, however, it fell short of giving readers a compl...
In a democracy, any group that claims to represent extraordinary numbers merits close scrutiny. By that standard, then, the American Association of Retired Persons deserves to be one of the most ca...
Like many other nonprofit organizations, AARP needs money. But instead of hawking museum replicas, AARP sells $106 million worth of products and services ranging from angina medications to tours of...
MONEY FLASH Let' s get serious about stock market reform by Jerry Edgerton To restore investor confidence, the major exchanges have proposed new trading rules. But if small investors are truly goin...
EVEN THE MOST self-sufficient person has an occasional twinge or two about living alone. What if there's a medical emergency and you can't get to the phone? To help allay those fears, many older pe...
FACE IT. Chances are there's another job -- maybe even a whole new career -- in your future, even if you won't need the pay. What with longer, healthier lives and earlier, richer retirements, middl...
THINK OF the American Association of Retired Persons as grandfather, very big and very rich. AARP has an astounding 28 million members, almost 12% of the U.S. population, and annual revenues of abo...
MANAGING /Cover Stories
-- Several fortnights ago your correspondent had an item in this space coyly alluding to the fact that he had just turned 63. A few days after that news hit the stands, he received his first mailin...
Funds aren't the only products spreading like kudzu on a Carolina slope these days. So are fund investment newsletters. More than 70 of them now flood the mails, usually monthly; six are devoted so...
- An old woman presses a gun to the head of a child who holds a lollipop. ''OK,'' grandma growls, ''just drop it in the bag and no one will get hurt.'' The cartoon, taped to a wall at the modest Wa...
Q. Recently I invested in Series EE savings bonds. On the back of each bond is a declaration that the bond is ''eligible for payment at any time after six months from its issue date.'' Is there any...
The thumbs-up sign that former teacher Rod Harman (right) of Beaverton, Ore. is flashing says it all: Harman is a happy retiree at age 59, financially secure and satisfied with his life's new balan...
THE ACTRESS on the video screen looks 60-ish, well nourished, and confident. She is portraying a consumer, and she talks like no traditional grandma. ''At 65, my mother had become an old woman . . ...
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