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The hidden costs of retirement

The hidden costs of retirement

The hidden costs of retirement


        Many of us dream of retiring early, but a hidden medical cost could drain thousands of dollars from your nest egg.
        Also, Lowe's hopes a new tool will take a lot of the stress out of home renovations, especially when things don't work out as planned.


Hidden cost of retirement
        Considering an early retirement? A new study from Fidelity shows leaving the workforce just three years early could mean tens of thousands of dollars in extra medical costs.
        Researchers say if a couple retires at age 62 instead of 65, they'll likely shoulder an additional $51,000 in medical expenses. The big reason? Medicare doesn't kick in until age 65, meaning that couple has to foot the bill for insurance on their own.
        Experts say consider tucking money into your job's health savings account. That lets you throw unused money towards health care expenses.

Payment system scans
        The recent rash of big data breaches has retailers and consumers searching for more secure ways to shop. One of them is a new biometric system called Quixter. It allows shoppers to pay for items by scanning the veins in their hand. Its inventor says the vein pattern in our palms are unique to each of us, so it can't be duplicated.
        The process of scanning your veins, recognizing who you are and transferring the money from your bank account to the store takes all of five seconds.
        Right now, Quixter has rolled out at Sweden's Lund University. No word yet if you'll see it at a store near you anytime soon.

Home improvement simulator
        Lowe's is rolling out the Holo-room. It's basically a home improvement simulator allowing users to look around, walk around and get the feel for what Lowe's products would truly look like in their own spaces.
        If you don't like where that vanity is, just move it around, or swap it out until it matches your vision just right.
        Once it's perfect, you can download the room and take it home with you.
        Lowe's is testing the Holo-room in Canada, and it is not yet available in the U.S.

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