Medicare Isn’t Free...Pass It On

News flash for adjustable-rate mortgage holders
Retire with Money
Elizabeth O'Brien
Let’s play a grown-up version of that childhood game where you’re asked to repeat something shocking. I’ll go first: Psst, Medicare isn’t free--pass it on! Many people approach retirement thinking their health care costs will drop when they enroll in Medicare at age 65, but that’s far from the truth. In fact, Medicare beneficiaries shoulder a greater share of their health insurance premiums than workers with employer-sponsored coverage. Fidelity (a long-time sponsor of this newsletter) released its annual retirement health care cost estimator last week, and the total is sobering: a 65-year-old couple today will spend a combined $300,000 on health care costs in retirement. Learn more about that number, and what you can do to prepare for it, in today’s edition.

Best wishes,

P.S. If you got this newsletter from a friend, sign up
here for email delivery to make sure you don't miss the next issue.
Have an Adjustable-Rate Mortgage?

Look out for this weird letter.

Is Life Insurance a Good Investment Now That Stocks Are Surging?

With permanent life insurance, don’t assume your returns will match the market’s.

Last week’s Reader of the Week mentioned a 3% yield that our featured reader, Steve Woodall, got from a credit union account. Some readers wondered where he was getting such a juicy yield these days, and Steve kindly followed up to let me know it’s a credit union associated with his former employer, Southwest Airlines. So unfortunately for the rest of us, it's only available to company employees, retirees, and family members. If you’re looking for yield, check out Money’s picks for best savings account here.
The clock is ticking, but you still have time to open an IRA and contribute to it for tax-year 2020. Whether you are looking to help reduce your taxable income or grow your potential earnings tax-free, Fidelity has both traditional IRAs and Roth IRAs, and we can guide you through which is the right choice for you, or possibly even both. There are no account fees and no minimums to open a Fidelity retail IRA, which gives you access to our easy-to-use tools and research.
Investing involves risk, including risk of loss.
Fidelity Brokerage Services LLC, Member NYSE, SIPC. © 2021 FMR LLC. All rights reserved. 964071.1.0
The Pandemic Drove These Americans Into Early Retirement
Here’s what to consider before you follow suit. CNBC
10 Factors to Disregard as an Investor
Forget about timing the market perfectly, and other advice from a portfolio manager. A WEALTH OF COMMON SENSE
The Troubling News on Credit Scores and Credit Reports
In a recent survey, about a third of retires said their debt level was a problem. NEXT AVENUE
6 Questions for the Boss Who Wants You Back in Your Cubicle
Ask about the airflow, vaccination policy and contingency plans. THE ATLANTIC
Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at and follow her on Twitter at @elizobrien.

Older messages

Have an Adjustable-Rate Mortgage? Look out for This Weird Letter

Tuesday, May 11, 2021

Adjustable-rate mortgages are undergoing a big change. Here's how it could affect your interest rate and payments. Daily Money Mortgages Have an Adjustable-Rate Mortgage? Look out for This Weird

The Dow Just Hit a Record for the 23rd Time This Year — but Hold the Applause

Saturday, May 8, 2021

The Dow has already set 23 records in 2021. Here's what history says happens next. Daily Money Investing The Dow Just Hit a Record for the 23rd Time This Year — but Hold the Applause The Dow has

The Secret to Never Losing Money in the Stock Market

Friday, May 7, 2021

Savings bonds are making a comeback Retire with Money I'm rewatching a popular late '90s/early aughts-era TV series, which I usually view in a happy haze of nostalgia. But an episode I saw the

When Will the Housing Market Crash? Experts Weigh In

Friday, May 7, 2021

With the housing market that's been red hot for close to a year now, people are beginning to wonder how long the frenzy can last. Daily Money Mortgages When Will the Housing Market Crash? Experts

Remember Savings Bonds? The Infamous Childhood Birthday Gift Is a Hot Investment Again

Thursday, May 6, 2021

Savings bonds are actually earning more interest than other safe investments. Daily Money Everyday Money Remember Savings Bonds? The Infamous Childhood Birthday Gift Is a Hot Investment Again Savings

Money Cheat Sheet: Meme Stocks 🍿

Thursday, June 24, 2021

Plus, what to know about stocks to start investing. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Venmo Is About to Get More Expensive for Millions to Use

Thursday, June 24, 2021

Venmo just announced several new fee changes in an email to users. You're probably not going to like them. June 23, 2021 EVERYDAY MONEY Venmo Is About to Get More Expensive for Millions to Use

You’re fired

Wednesday, June 23, 2021

Bloomberg The delta variant of the coronavirus is spreading rapidly in the US and now accounts for one-fifth of recent infections in the world's hardest-hit country. Meanwhile, a new study provides

🌎 EVs are taking over the world

Wednesday, June 23, 2021

When it rains EV news, it pours | Go, go gadget Europe | TOGETHER WITH Hi Reader, here's what you need to know for June 24th in 3:04 minutes. 💰 Move over, side hustlers: crypto could be your answer

FTT Update: Where's the Rocket Crashing Emoji? 🚀

Wednesday, June 23, 2021

​ ​ Hi all, Julie here. Happy hump day! In case you missed it, we published a deep dive focusing on real time payments yesterday, that we worked on with Orum and Moov. Great great explainer on

Get in the YOLO mindset

Wednesday, June 23, 2021

Crop tops, cash, and coaching. Oh my! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Anyone want to buy my old clothes?

Wednesday, June 23, 2021

plus wolves you should love + ACNH MCR June 23, 2021 • Issue #99 Dollar Scholar Dollar Scholar Hi y'all — I am not what you (or, uh, anyone) would call “fashionable.” Not only do I have a weakness

A Hacker’s Guide to Protecting Yourself Online

Wednesday, June 23, 2021

Here's how a former cybercriminal protects his own personal data June 22, 2021 CREDIT CARDS A Hacker's Guide to Protecting Yourself Online Here's how a former cybercriminal protects his own

Bitcoin takes a dive

Tuesday, June 22, 2021

Bloomberg US Federal Reserve Chair Jerome Powell acknowledged that recent price increases have been bigger than expected, but reiterated that they are temporary in nature and not emblematic of a long

😓 Soho House needs this IPO

Tuesday, June 22, 2021

Soho House has less money, mo problems | Blackstone makes itself at home | Finimize Hi Reader, here's what you need to know for June 23rd in 3:06 minutes. 📈 We're always interested in how you