A digest of timely information and insight about finance, investing, and retirement

Take the generic, patients are told. Until they are not. | The New York Times

Standard advice for consumers is to always ask if there is a cheaper generic when prescribed a medicine. But in the upside-down world of prescription drugs, conventional wisdom about how to lower drug costs is often wrong. As pharmaceutical companies squeeze the last profits from products that are facing cheaper generic competition, corporations are cutting deals that give consumers little choice but to buy brand-name drugs – and sometimes pay more at the pharmacy counter than they would for generics.

Should you pay down your mortgage or save for retirement? | The Motley Fool

If you have a little extra cash at the end of each month, it’s wise to put it toward long-term financial goals. But how do you know which goals should come first? Is it more worthwhile to put your extra money toward your mortgage or your retirement fund? The short answer is that they’re both good options.

Millennials lack confidence in Social Security’s future | PlanSponsor

A majority of young Americans lack confidence in the future of Social Security, according to the most recent GenForward study from the University of Chicago. The sentiment was strongest among African Americans and Latinos. Yet, despite their pessimism, Social Security remains a portion of millennials’ plans for living in retirement.

Treasury ends Obama-era retirement savings plan | The New York Times

An Obama-era program that created savings accounts to help more people put away money for retirement is being shut down by the Treasury Department, which deemed the program too expensive. The 30,000 participants in the program, known as myRA and intended for people who did not have access to workplace savings plans, were informed that they could roll the money into a Roth individual retirement account.

Many still sidestep end-of-life care planning, study finds | Kaiser Health News

Even though advance directives have been promoted for nearly 50 years, only about a third of U.S. adults have them, according to a recent study.

What you should know about retiring in a foreign country | CBS Money Watch

More people are choosing to spend their retirement years abroad, with over half a million Americans collecting their Social Security benefits in different countries around the world. But choosing to retire abroad shouldn’t be undertaken lightly. There are a number of things to take into account, from the cost of living and fluctuating exchange rates to health care access and even the ability to receive benefit payments using a foreign banking system.