Daily Money - A Calm Wish for Election Day

Election Day is finally here. No matter whom you support, I hope you were able to vote —  or have a plan to do so today. (Visit this site for voting information in your state.) The real possibility that we won’t have a clear winner tonight has ratcheted the national anxiety level up a few notches. The election results will have an impact on many issues, including the chances of a second stimulus check and the wellbeing of the overall economy. This uncertainty is all the more reason to get a good night’s sleep tonight (or at least, to try), I would argue. That probably sounds strange coming from someone in the news business. While I salute my colleagues who will be covering the proceedings, I function a whole lot better when I’m well rested, and I know I’ll need energy for whatever the coming days bring. So I’m going to call it a night relatively early. Whatever your plans for the evening, I wish you peace and calm.

This week in our Retire with Money Facebook group, a member said he got notice that his long-term care insurance premiums would be going up from $5,500 to $8,180. (He didn’t say but I’m guessing this is an annual amount.) He bought the policy in Jan. 2011.  “We currently share a $7,330 monthly benefit for 6 years compounded at 5%.” Now, he faces the difficult decision of whether to pay the increase to maintain current coverage, or pay less for reduced coverage. Another member said she bought a policy and her premiums haven’t increased in the eight years she’s held it, though she expected an eventual increase. ”I ran spreadsheets to see what that might entail, and still decided it was worth it,” she wrote. One point to note, she said, is that rates aren’t increased on individual policyholders — they’re increased on a whole group of policy holders, and the state insurance regulator must approve any increase. That doesn’t make it easier to stomach, of course. Learn more about long-term care insurance here.

No matter where you are in your career, saving for retirement should be part of your plan. Even if you can save only a small percentage of your income, it's important to get into the habit of saving regularly—ideally in a tax-advantaged retirement account, such as an IRA or a 401(k). Try to work up to saving at least 15% of your pretax income for retirement, including any match from your employer. Investing for growth can be an important next step. Over time, investment growth and compounding returns can help boost your savings and help you feel more prepared for everything from unexpected health care expenses to inflation and longevity. Fidelity is here to help you get ready for retirement.

At least, that’s one fewer thing to worry about right now. CNBC

A preview of the issues the Federal Reserve faces it prepares to meet this week. REUTERS

Conditions are right for this one money move. YAHOO FINANCE

This handy pill board idea minimizes the risk of making a mistake. NEXT AVENUE