Not just any Olympic gold medal, mind you, but the medal won by U.S. Olympic hockey team goalie Jim Craig in 1980. That team, of course, is most remembered for the "Miracle on Ice," its semifinal game victory against the Soviet Union. Craig, who is now a motivational speaker, is selling the medal along with 16 other pieces of Olympic memorabilia. Why is the imperative question; in Craig's own words, via CNN: "I'm selling my 'Miracle on Ice' collection to ensure a healthy financial future for my children and grandchildren," Craig said, according to a news release from the auction house. "I also plan to donate proceeds from the auction to charities and causes that are near and dear to my heart." The medal is expected to fetch between $1 million and $1.5 million. The whole collection is expected to sell for more than $5 million.
When Health Care Costs Exceed Social Security
A 45-year-old couple retiring in 20 years will need to spend 116 percent of their lifetime pre-tax Social Security benefits to cover health care costs, according to new calculations by HealthView Services. The average 66-year-old couple will require 57 percent of their Social Security for health care costs, and the average 55-year-old couple retiring in 10 years will need 88 percent of their Social Security. For 2016, the average healthy 65-year-old couple retiring this year can expect to pay $288,400 on lifetime Medicare Part B and supplemental insurance premiums, the HealthView study found. When you factor in dental, hearing, vision and all other out-of-pocket expenses, the total rises to $377,412. Health care inflation is mostly to blame for the increase in costs. Health care costs are projected to have increased by 7.3 percent between 2015 and 2016, which HealthView says was driven in part by a 16.1 percent increase in Medicare Part B premiums over the same period.
CNL Securities Launches Mobile App
CNL Securities, an alternative investments provider, launched a mobile app Tuesday designed to help inform and educate financial advisors on alternatives and practice management. The app contains the information CNL has hosted on its website for years as well as additional, exclusive content including semi-monthly market commentaries from economist Fritz Meyer. Users can also access presentation-ready educational materials and exclusive articles. Advisors can save frequently used content, and the CNL app will update users when new content is available. The app is available for both Android and Apple devices.