Why index funds and ETFs are good for retirees
Older adults likely began their investing careers before exchange-traded funds (ETFs) existed and have stuck with traditional mutual funds. But as retirement approaches, many investors look at their portfolios with a fresh set of eyes and make adjustments. The more I work with in-retirement portfolios, the more I like ETFs and traditional index funds for several reasons: Good for... READ MORE
Scammers impersonate utility workers
Pepco, along with more than 100 energy companies across the U.S. and Canada, wants to remind customers to stay vigilant against energy-related scams designed to steal money and personal information. While scams do occur throughout the year, fraudulent activity and scam attempts generally increase during the holiday season. Pepco encourages customers to be extra cautious this time of year ... READ MORE
Write your own will or hire an attorney?
Dear Savvy Senior, Can you recommend some good online resources for writing a simple will? I’m 70 and divorced and want to get my affairs organized, but I hate paying a high-priced attorney fee if I can do it myself. —Don’t Have Much Dear Don’t, A last will and testament is an important document to have because it ensures that your money and property will be distributed... READ MORE
Best ways to pay for grandkids’ college
Q: I want to help pay for my grandkids’ college. Should I make a large lump-sum 529 plan contribution or spread the funds out evenly over the years? A: A lot of people experience sticker shock when they sit down to look at college costs today. For the 2025-2026 academic year, U.S. News & World Report puts the average cost of tuition and fees at a four-year, public in-state school... READ MORE
Timing is key for initiating survivor benefit
Q: I am 64 and recently widowed. I plan on working until age 70 before I apply for a Social Security benefit. I currently earn $150,000 per year. Are there any disadvantages in applying for a survivor benefit now? I understand that applying for a survivor benefit now will not prevent me from applying for my work benefit at age 70. Is that correct? I intend to apply for Medicare when I... READ MORE
How to maximize your end-of-year philanthropy
The end of the year is a time to reflect on the past and make positive changes. It’s also a time when we think about giving back to the causes we care most about. But amid the holiday season’s crunch, many donors fail to make a thoughtful plan for their philanthropy. They may see a cause their friends and family are supporting and quickly open their wallets. Although any act of... READ MORE
Should you prepay for your own funeral?
Q: A good friend recently died and it made me wonder, should I prepay for my own funeral? Is it worth it to set up now while I’m in my 50s? A: I’m sorry to hear about your friend. Sometimes it takes a loss to make us face our own mortality — and the costs that come with it. Chances are, you’ve put a lot of thought into planning for different milestones during your lifetime — ... READ MORE
What you need to know about annuities
Retirement researchers are often enthusiastic about annuities, but many consumers are reasonably skeptical. Christine Benz, Morningstar’s director of personal finance and retirement planning, discussed basic information about annuities and their pros and cons. (This interview has been edited for length and clarity.) Q: How do income annuities work, and how are they different from... READ MORE
Prescription drug coverage options shrink
Fewer choices may be on the menu again as Medicare patients shop for prescription coverage this month. The number of available, stand-alone drug plans has fallen for a few years, and that trend will continue for 2026. Most markets will still have several choices, but some options are becoming particularly sparse for shoppers with low-income subsidies. And help may be harder to find... READ MORE
Essential legal docs everyone should have
Dear Savvy Senior, What kinds of legal documents do I need to help my family take care of me in my elder years? I would like to get my affairs in order but could use some help. —Approaching 80 Dear Approaching, All adults, especially an older adult like yourself, should have at least five legal documents to protect yourself and your family. These documents will make sure... READ MORE
Money 2026
