retirement

Courtest Photo / Blooom

It’s been a big year for Blooom, the Leawood, Kansas, based finance-tech company.

In addition to taking home a $50,000 grant from LaunchKC during Techweek in September, the company has just been crowned the first-ever winner of the "One in a Million" startup competition, presented by the Kauffman Foundation's 1 Million Cups program.

The grand prize — $10,000.

Alex Smith / KCUR

The older you get, the more complicated and expensive health care becomes. A study from the National Institutes of Health shows that half the money that’s spent on Americans’ health is spent on care after age 65.

That’s why changes to the health system – like the Affordable Care Act and Medicare reform — can be especially concerning to older people.

ulrichkarljoho / Flickr - CC

Even if we try to deny it, we can't escape getting older. Almost three-fourths of people who reach the age of 65 are going to need some kind of long-term care. So why is it that so few of us plan for those needs?

On Monday's Central Standard, Bill Anderson and the Cash Money Crew talk about how to prepare finances for old age and the possibility of needing long-term care. Plus, they explore the poor health of the long-term care insurance industry. 

Guests:

Ray Meints / NET News

Working beyond retirement is a fairly common refrain these days. In 2012, 5 percent of the U.S. workforce was beyond retirement age. But farmers seem to work longer than most. In the last Agriculture Census 25 percent of all farm operators were over 65 years old.

Why do farmers keep working? For one thing, modern machinery makes it easier to work longer.

“It’s more you use your mind rather than your back, so you can go longer,” said Mike Duffy, an agricultural economist at Iowa State University.

Financial Advice: Thirty Days Until Retirement

Aug 17, 2012
Stephen Depolo / Flickr

It’s estimated that half of America's middle-class workers will be poor or near poor come retirement. Many will find themselves living a $5 a day food budget.

With the first of the Baby Boom generation reaching the milestone of mid-life, the number of Americans in or nearing retirement age is both unprecedented and expanding.