If you're now eligible for Medicare but still covered under a spouse's insurance plan, can you wait until your spouse retires to enroll without paying the higher premium?

Generally, you'll pay a penalty for not applying to Medicare when you're first eligible, so the best bet in situations like these is to enroll in Medicare Part A (hospital insurance which helps pay for care in a hospital and skilled nursing facility, home health care, and hospice care).

If you didn't take Medicare Part B (medical insurance which helps pay for doctors, outpatient hospital care, and other medical services) when you were first eligible because you or your spouse were working and had group-health plan coverage through an employer or union, you can still sign up during a Special Enrollment Period.

You can sign up anytime you are still covered by the employer or union group health plan through your or your spouse's current or active employment, or during the 8 months following the month the employer or union group health plan coverage ends, or when the employment ends (whichever is first). If you do not enroll in Medicare Part B during your Special Enrollment Period, you'll have to wait until the next General Enrollment Period, which is January 1 through March 31 of each year. You may then have to pay a higher Medicare Part B premium because you could have had Medicare Part B and did not take it.

If you can delay your enrollment because you or your spouse are still working, the General Enrollment Period will not affect you until after you (or your spouse) stop working.

Call the Social Security Administration at 1-800-772-1213 for more information or to enroll in Medicare. You can also visit the Social Security web site http://www.socialsecurity.gov/ for more information.

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Annuities are one of the most popular investment products available today. One reason annuities are attractive is that they can help build more value over time. By providing potential growth that is tax deferred, an annuity's investment earnings can accumulate and compound untouched by federal, state, or local income taxes until you begin making withdrawals, which is usually after retirement.

Features of annuities include:

1. You can make a single contribution or a series of payments over time.
2. You can contribute any amount, regardless of your income level or sources of income.
3. When you begin making withdrawals, you can choose from different payout methods, including a fixed amount for life for you and/or your spouse, or payments to your beneficiaries or heirs.
4. Payout methods include insurance features, which guarantee payment to your designated beneficiaries if you die before withdrawals begin. In most cases this payment does not have to pass through probate.

How can you maximize the value of an annuity? Here are 6 simple steps:

1. Taking advantage of low fees.
2. Choosing an annuity that offers a variety of investment options.
3. Dollar cost averaging could potentially boost long-term returns.
4. Increasing the potential return on aggressive investments.
5. Enjoying the benefits of diversification.
6. Using annuities to pass money along to heirs quickly.

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New York Life Insurance Company today announced it has launched a site for women consumers, www.newyorklife.com/womenandfinance that provides easy access to detailed information and organizational tools for helping meet financial goals. The site focuses on the top concerns for women including planning for retirement, creating financial protection for their families, saving for their children's education, and dealing with life's major financial challenges.

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A 65-year-old couple retiring in 2008 will need approximately $225,000 1 to cover medical costs in retirement 2, according to Fidelity Investments' latest health care cost estimate, released today. This figure is a 4.7 percent increase over the 2007 estimate of $215,000.

In an effort to help consumers prepare for retiree medical costs, Fidelity offers five steps:

1. Create an individual retirement plan
2.Start early and maximize opportunities to save
3.Assess health status and become a smarter consumer of health care
4.Determine details of any employer-sponsored coverage
5.Understand the financial impact of health care costs on Social Security Incom

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Apparently, Enron executives are not enough of an example for companies to keep their hands out of employee retirement funds. St. Paul Travelers Companies has agreed to an out-of-court settlement of $77 million for publishing false and misleading financial statements. New Mexico's Educational Retirement Board, its beneficiaries and thousands of investors have lost an estimated $8 million, which might not be so bad if St. Paul hadn't lied about it in their financial reports.

Looks like OSHA needs to issue another poster for the company break room reminding managers that stealing is a crime and gambling is a serious addiction. If you're a shifty CFO looking to boost revenues, all you have to do is pinch a little off the top then put it back later after the money's been re-invested in the company and produced a nice profit. No one's going to notice since its money they won't be using for another 30 years... right?

These guys aren't playing with pocket change dug from the cracks of their leather-backed chairs. This is the cash people need to survive after they get laid off only 5 years shy of being fully vested in the company's plan.

Attorney General Gary King defends his decision to sue for reparations. "I believe this settlement will serve as a deterrent to corporate misconduct, and I am confident that the result achieved is indeed an excellent one for New Mexico's investment funds and their participants."

Before investing your money with any company -- whether they sell retirement funds, insurance policies, goods or services -- check them out to see if they've been in the news for unscrupulous activities. The internet is your most powerful research tool, and you're sure to find millions of references to the company you're interested in dealing with. Investigate now and alleviate the aggravation of losing your life savings down the road.

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Prudential Financial has outlined 12 practical tips to help you manage financial risk so you don't see red. It's called in The Retirement Red Zone. This week's tip is: Tip No. 4 is maximize your social security benefits.

This week's tip marks the fourth in a series that will run through May 6. Be sure to check out tip 1-3. I'll try to remember to post a link each week.

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According to a report by the an article by retirement services firm SecurePath by Transamerica, a third of Americans 50 and over are not confident they will have enough money to retire, and more than two-thirds expect to keep working well into old age.

The report suggests the surge in companies offering defined-contribution 401(k) plans has not displaced Social Security as the ultimate safety net for retirees. Sixty-one percent said the program would provide them with their main source of income in retirement.

Where do you stand? How are you feeling with regards to retirement?

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Non-Traditional Families Face Retirement Planning Hurdles, According To Metlife Study

According to the MetLife Mature Market Institute's Family Matters study, 40 to 65-year-olds with non-traditional families face more challenges with regard to saving and investing and are less likely than others to have a distinct retirement vision. They are more unlikely to have specific income vehicles, such as 401(k)'s, pension plans and annuities.

The study determined that family structure largely influences how people plan for retirement. It addressed three specific mid-life segments: "Traditional Families" (two parents with children from their current relationship), "Blended Families" (two parents with at least one child from a previous relationship) and "Single Women" (widowed, divorced or never-married with or without children).

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According to a global retirement survey released a few weeks ago by AXA Equitable Life Insurance Company eight in 10 working Americans say they've begun to prepare for retirement, starting on average at age 30. However, they do not anticipate being able to retire until the age of 64.

The survey also found major life events that triggered Americans to start saving for retirement. These included milestone birthdays -- turning 40 and 50 -- and having children. Other reasons that prompted saving included marriage, and advice from friends and relatives. Still, more than half of American workers polled anticipate working during retirement. Of those surveyed, middle-income workers (53 percent) and female retirees (50 percent) feel their retirement income will be insufficient.

Interesting stuff. When do you think you'll be retiring?

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The Insurance Institute for Highway Safety recently released cost estimates for low-impact accidents, common "fender-benders" that happen in a parking lot or dense commute. These accidents are typically at a very low speed, usually under ten and more commonly about six miles per hour. The low speeds, though, are not a protection against severe and costly damage.

Just three midsize cars - Toyota's Camry, Mitsubishi's Galant and the Mazda 6 - of the 17 tested sustained damage of $1,500 or less from each of the different crash tests that measured damage from rear, rear corner, front and front corner collisions. Four of the vehicles had damage of $4,000 or more, including the most expensive, the Volkswagen Passat, with an estimated repair bill of $4,594. The Pontiac G6 was close behind with estimated damage of $4,588. The Nissan Maxima's damage billed out at $4,535 and the Hyundai Sonata at $4,312.

A 1981 Ford Escort was included in the test. It sustained no damage in the two corner crashes; the front crash bill was just $86 and the rear crash bill was just $383. The Insurance Institute for Highway Safety said that low-speed crash standards had been weakened during the Reagan administration, in 1982, and that older vehicles performed better.

Here's an article in which I was quoted regarding how much money it costs to pay your auto, home or term life insurance premiums other than annually. Once you read the article, I think you'll have a better understanding of how you'd like to pay your premiums.

To find out the real cost of paying your premiums other than annually, check out the APR calculator on AccuQuote.

When would someone consider an annuity? The most common time is when you're thinking about your retirement plan. If you're like most people, you may not yet be ready to risk your entire future savings in the stock market and all of its risks. But if you don't, your savings may not keep up with inflation. And with safe, fixed rates on CD's and other savings vehicles at 30-year lows, what choices are left? Annuities are a common solution to this problem.

Annuities are products offered by insurance companies that generally fall into two categories: immediate and deferred. Immediate annuities generate an immediate income. In exchange for a lump sum payment from you to the insurance company, they begin making payments to you, typically on a monthly basis. These products are usually used at retirement, in order to guarantee a lifetime income.

Annuities are retirement savings plans similar to bank savings accounts and Certificates of Deposit. Annuities are issued by life insurance companies and typically offer better interest rates, more tax advantages, and a guaranteed income you cannot outlive.

There are several different types of annuities to choose from. If you are looking to maximize your retirement savings, consider a deferred annuity, such as fixed deferred, variable deferred, or equity-indexed annuity. If you are ready to retire and want immediate payments, select an immediate annuity.

Immediate annuities generate an immediate income. In exchange for a lump sum payment from you to the insurance company, they begin making payments to you, typically on a monthly basis. These products are usually used at retirement, in order to guarantee a lifetime income.

Deferred annuities are more similar to a savings account, but unlike a savings account, they allow your investment to accumulate interest on a tax-deferred basis. The key advantage to a deferred annuity, versus other savings vehicles, is that the taxes on your earnings are delayed until you make a withdrawal.

There are three types of deferred annuities. Each offers a different level of risk. Conservative investors might select a fixed deferred annuity because they offer a fixed interest rate, currently about five to six percent.

Finally, equity-indexed annuity returns are linked to the performance of a stock index, such as the Standard & Poor's 500. Interestingly, many of these products allow you to participate in the gains of the stock market, but without any risk of loss each year. To further decrease risk, the insurance company guarantees a minimum interest rate, typically around one to three percent. This category of annuities was introduced about six to seven years ago, and has become the fastest growing type of deferred annuity due to its combination of safety and upside growth potential. Overall, when used properly, annuities can be a valuable retirement investment tool.

I wanted to share this article with you. In one of my posts I wrote about AXA Equitable and how they provide a guaranteed minimum return. This Money article gets at the heart of what I was talking about. Enjoy!

Here are a few pointers to keep in mind when you are getting ready to purchase any insurance policy for your business. These will help you keep your thoughts organized and make sure that you get everything you need.

First, make sure that you have a clear idea of what it is that you want or feel you need. Write that down as well as any questions you have - premiums, coverage exemptions, deductibles, ways to save money, alternate choices of insurance. Write down the answers when you get them and note from whom you got the answer as well as the company they represent and the policy they were referring to.

Treat your insurance agent as if he were your lawyer and divulge everything. No, there is no legal confidentiality agreement between the two of you, but if you want to make sure that you're getting the coverage you need, the agent needs to know all the relevant facts. Don't keep any secrets.

More after the jump...