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Seniors

Simple to build a cash cushion

An important job in the two or so years leading up to retirement — right up there with figuring out your healthcare coverage and winding down your work activities — is building up a cash cushion. In addition to being there as a source of funding when you eventually retire, cash has the salutary effect of providing a buffer if you retire earlier than you expected due to unforeseen circumstances. As you build out your Bucket portfolio, here’s some guidance on the amount, source, and location of those liquid reserves. Rightsizing Bucket 1 Your cash bucket should consist of one to ...

Science explains why scratching bug bites a bad idea

WASHINGTON — You’ve likely heard it since childhood: Don’t scratch that bug bite or rash, you’ll make it worse. But why would something that feels so good be bad? A lot of things can cause itchiness, sometimes serious diseases. Whatever the cause, doctors have long warned that ...

Kozeska’s path shows how to overcome obstacles

Life is rarely a straight path. Career, family, education and fitness goals often require detours, and economic, social or physical challenges can significantly affect us. Successful adults learn to navigate setbacks and keep moving forward, even when outcomes differ from their plans. This ...

What to do when medical bills pile up

Dear Savvy Senior, I’m 63 and recently had a hospital stay that left me with bills I can’t afford to pay. I had Affordable Care Act health insurance, but after my premiums went up in January, I had to drop my coverage. Now I’m overwhelmed by medical bills. What can I do? — Struggling Patient Dear Struggling, You’re definitely not alone. Medical debt is very common. About 1 in 12 Americans are dealing with it, and many had insurance when the bills started piling up. The good news is there are ways to reduce what you owe and make it more manageable. Here are some steps that ...

Get to steppin’ — You should be dancing, yeah!

TUCSON, Ariz.— Carol Ross can’t stop smiling at dance practice as she shouts out the steps of a routine to members of her tap and jazz troupe for women age 50 and older. “I’ve been dancing my whole life, it’s the best,” said Ross, who founded the Rodeo City Wreckettes group 23 ...

Spouse lacks financial interest

Reader question: My spouse has little interest in our financial position. As we age, this concerns me. I try to share some basic information (income, spending, account balances, debt, and so on) each month but rarely get a response. I think graphs or charts might be of more interest to her than a bunch of numbers. What recommendations would you have for illustrating our financial position so that I am not the only person aware of how we are situated? Thanks! Answer: Your situation is pretty common. Most couples I know develop a division of labor over time, where one person is in charge ...