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    Just Explain It

    • Just Explain It: Why Does A College Education Cost So Much?

      By Zelkadis Elvi | Just Explain It – Thu, May 9, 2013 1:14 PM EDT

      It’s more expensive now than ever before to send your son or daughter to college. So in order to stay attractive, some universities are beginning to offer tuition discounts. But providing more financial aid to incoming students doesn’t hide the fact that college costs are still very high.

      Out-of-state full-time students who attended public four-year colleges felt it in their wallets. On average they paid almost $22,000 in tuition and fees this school year. In-state undergrads did a little better. They shelled out just over $8,600.

      According to the College Board, in-state students faced an average tuition increase of $400 from last year. On top of that, room and board charges jumped by $325.

      Related: Only 150 of 3500 U.S. Colleges Are Worth the Investment: Former Secretary of Education

      But, a recent National Association of College and University Business Officers survey found that last fall many colleges offered an average of 45% off tuition for incoming freshman. That’s more than

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    • Popular advice for working Americans is to start saving for retirement at a young age. The earlier you begin saving means the more you’ll have in reserve when you retire.

      And if you follow that rule-of-thumb, your reserve could provide a comfortable retirement lifestyle for you and your spouse. However, in retirement you should expect the unexpected. Hidden costs could be lurking around the corner.

      Which brings us to today’s Just Explain It.

      What four events are most likely to drain your retirement savings? And, is there anything that can be done to protect your nest egg?

      1. Medical Expenses. These shouldn’t be unexpected, but they’re probably the number one threat to a retiree’s financial security. Most people don’t plan adequately for this.

      Based on a 17 year retirement, a couple that stopped working last year would spend around a quarter of a million dollars on health care in retirement…and that’s if they have Medicare. Unfortunately, Medicare coverage doesn’t include vision,

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    • Just Explain It: Maximizing Your Retirement Income Without Working

      By Zelkadis Elvi | Just Explain It – Thu, Apr 4, 2013 2:23 PM EDT

      Thanks to advances in healthcare, retirees are living longer than ever – sometimes stretching their retirement out 20 years or more.

      According to the 2010 US Census and the National Center for Health Statistics, the number of Americans 65 and older is growing. In 2010, the 65-74 age group (20.8 million) was 10 times larger than in 1900. The 75-84 group (13.1 million) was 17 times larger and the 85+ group (5.5 million) was 45 times larger.

      One major concern for most retirees is outliving their life savings. That’s why it’s important to plan well for your retirement.

      Which brings us to today’s Just Explain It.

      What are the best ways to maximize your income in retirement without working?

      Here are some suggestions.

      It’s a given that at some point you’ll have to pay taxes on your savings. How much is the question. That depends on the strategy you use to minimize the tax impact. For example, experts advise leaving most of your money tax-deferred in a 401(k) or an IRA account. The more money

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    • Just Explain It: Retiring With $1.5 Million Saved

      By Zelkadis Elvi | Just Explain It – Tue, Mar 12, 2013 1:44 PM EDT

      Many Americans fail to plan properly for their retirements. In some cases, they put paying monthly bills, home renovations and even planning a vacation ahead of saving for retirement.

      Data from a 2010 Employee Benefit Research Institute study found that retirement finances for early baby boomers were at risk. Almost half of them didn’t have resources to pay for “basic retirement expenditures and uninsured health care costs.”

      In a separate report, the institute found that estimating the amount of retirement savings you’ll need makes a difference. Workers who did so, calculated their nest egg should be at least one $1 million.

      Which brings us to today’s Just Explain It.

      What’s the best way to retire with $1.5 million in savings?

      We asked Doug Wheat, a Certified Financial Planner at Family Wealth Management, to help us figure it all out.

      Saving $1.5 million will provide a very comfortable nest egg for most professional couples in retirement, and here’s why.

      Wheat says a safe initial

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    About Just Explain It

    Just Explain It takes big financial news and hot-button topics and breaks them down into bite-size pieces. We decode the jargon so the stories you read become relevant and understandable and you can impress your friends at your next dinner party. Is there a topic you'd like explained? Ask us on Twitter using #JustExplainIt.

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      Updated 5/8/2013 Warren Buffett's Berkshire Hathaway (BRK.A), already the largest investor in DaVita, has agreed to nearly double their stake in the company. Once finalized Berkshire would hold a 25% stake in the the leading kidney dialysis provider in the country. DaVita shares rose over 3% in

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      There’s nothing like fresh produce straight from the farm. Green markets are popping up all over the country to meet growing demand for high quality food. But if you don’t have the time or the patience, you certainly have options. FreshDirect is one of the largest online grocers that’s been

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      In a world where everyone is connecting online, doctors and hospitals have been struggling to streamline decades of disconnected data. Electronic health records (EHR) are the way of the future. A 2011 McKinsey & Company study suggested that the health care industry could save $300 billion a year

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