Science Daily released an article today which cites clear scientific evidence showing that the better educated we are, the longer we tend to live. The study, which was conducted by the American Cancer Society and the Centers for Disease Control and Prevention, analyzed data from more than 3.5 million deaths occurring between 1993 and 2001. Science Daily reports that the study concluded; "People with less education have fewer financial resources, less access to health insurance or stable employment, and less health literacy." It would seem that not only do the rich get richer and the poor get poorer, but the poor get deader sooner also.

The greatest percentage increase in death rates was reported to be within the social class, white women. In that group, death rates increased by 3.2% annually for women with less than 12 years of education. The group of white women with more than 12 years of education also had a statistically significant increase in death rates of 0.7%. Men on the other hand, have seen increases in longevity. Well educated black men showed the greatest improvement, with a 36% decreased death rate. Well-educated white men also posted longevity gains, with a 25% decreased death rate.

My street level analysis is this: The education factor speaks for itself. Well educated people have the knowledge and resources to take better care of themselves. This is not to minimize the fact that they also tend to do fewer stupid things. Women, as they increase their power, leverage and exposure in this world, also increase their stresses and risks. Black men are beginning to make up for decades of high mortality rates, by working together to enhance their socio-economic well being overall. Men in general have begun to admit their vulnerability to the ravages of life and more of us are willing to admit when we need help.

As for us educated white guys living longer, well, that's probably just dumb luck.

It's pretty well-known that far too many baby boomers are ill-prepared for retirement, but rising gas prices and a weak economy are exacerbating that problem. Here are some of the scary statistics from a new survey released by the AARP:

• Nearly 40% of people 45 and older have helped a child with expenses, including one-third of retirees.
• 8% have helped a parent keep up with bills.
• 1/3rd have stopped funding their 401(k) and 14% have cut back on medication.
• 60% have cut back on entertainment expenses like eating out.
• More than 25% are having difficulty making mortgage or rent payments.

If nothing else, these statistics are indicative of the perhaps ill-advised generosity of many baby boomers. 40% are helping children with expenses, and 1/3rd have stopped putting money aside for retirement. I wonder how much overlap there is there.

I know that people want to help their children. But underfunding your retirement to help out a younger person who has a lifetime of work ahead of them isn't noble: it's silly.

Just like they tell you on the airplane: Secure your own oxygen mask before you attempt to assist your child: you'll be more helpful to them that way.

When I was a kid, my favorite Wizard of Oz character was the Tin Man. The Lion was furry, but obnoxious, and the Scarecrow was nice, but a little too spastic. Toto was a yappy little dog and Dorothy was a girl and everyone else was just too damn weird looking. The Tin Man, though, was warm and caring, could blow steam out of his head, and made all kinds of fun sounds. He was just too damn cool.

I thought about the Tin Man recently because of some problems that Stryker Orthopaedics has been having with some of its replacement hips. Apparently, the company has a line of ceramic-lined hips that are guaranteed to last far longer than conventional plastic hips.

On the bright side, the hips have, thus far, lived up to their promise: in most cases, they are showing far less wear-and-tear than their plastic competitors. On the down side, 1-7% of these implants have developed an obnoxious squeak. Unlike the Tin Man, however, Stryker's customers can't get rid of their squeaks with a precise application of oil; they need to get their hips replaced again, a costly and intense surgical procedure with tons of potential complications.

This is the part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

Question: What is better. Traditional or Roth IRA? I have my Roth IRA invested in the Vanguard Total International Stock Index Fund (VGSTX)? I am 38 years old.

Answer: While this subject is not free of doubt, I prefer the Roth IRA. Both the Roth and traditional IRA's are tax-deferred accounts. But, unlike a traditional IRA, Roth IRA contributions are made with already-taxed income.

What fun is retiring well-off if you're not all there to enjoy the ride?

Anyone unfortunate to have witnessed the ravages of Alzheimer's certainly understands. But almost all of us have experienced some kind of preview of diminished capacity to come -- glasses "lost" perched right atop our brows; forgetting whether or not you just took that vitamin; mentally misplacing long-burned-in info, like your mom's birthday. It starts earlier than most of us want to admit.

There's good news, in the form of research showing the brain has more plasticity than previously thought. In laymen's terms, our aging brains can likely benefit from regular exercise, to help stave off what was previously written off as inevitable, age-induced, mental atrophy.

This is the part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

The are many minefields for investors who want to save for retirement. Fortunately, the warning signs are clear. If you see any of these signs, you are driving on the road to financial perdition. Stop. Turn around and go in the opposite direction:

1. "This mutual fund has a 5-star Morningstar rating." It still is unlikely to beat an index fund with a comparable risk over the long term.

I love Norm Brodsky's long-running "Street Smarts" column in Inc. It got even better for me a couple of years ago, when he turned it into a diary chronicling the sale of his business. Having sold one myself, I couldn't wait to see what was in store.

Brodsky didn't disappoint. The ups, the downs. The starts, stops and re-starts of getting a deal done. The thrill of the payout. All in this refreshingly blunt, first-person way that somehow made it OK for Brodksy to brag, because he'd tell you he was doing just that.

I just finished his May column, where Brodsky wears on his sleeve his struggles six months after the sale -- struggles that have zero to do with money. He doesn't sound at all like the same, master-of-his-domain kind of guy. I'm writing this somewhat spooked, because he wrote about precisely what I experienced after my sale: the misery, the weight of trying to figure out what to do next.

This is the part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

Question: I have quit my job and taken my retirement monies, but I still need to leave my 401K alone for 4 more years. I can leave it there and let it ride, or with your suggestions I could switch it over to one that is doing better than my current one with Safeway Corp.

Answer: Since I don't know the investment options available in your current plan, I cannot evaluate whether you would be better off keeping your funds with that plan or rolling it over into an IRA. However, as a general matter, I can tell you that most 401(k) plans do not offer appropriate low cost index funds for their employees. If this is the case with your current plan, you might be better off rolling it over to an IRA.

If you decide to pursue this option, here is my advice:

First: Determine your asset allocation by taking an asset allocation questionnaire. You will find many on the internet, including one on my web site.

Second: Open an account with Vanguard. There are other excellent fund families you could consider, like Fidelity and T. Rowe Price. However, Vanguard has historically been the leader in offering low cost index funds.

Third: Invest 70% of the amount of your funds allocated to stocks in the Vanguard Total Stock Market Index Fund (VTSMX), and the balance of 30% in the Vanguard Total International Stock Index Fund (VGTSX). Invest 100% of the funds allocated to bonds in the Vanguard Total Bond Market Index Fund (VBMFX).

Fourth: Once or twice a year, rebalance your portfolio to be sure that your asset allocation remains intact.

This simple portfolio has historically outperformed 95% of all professionally managed money over the long term. In your case, if you intend to withdraw the money in four years, it may or may not outperform the investments in your current 401(k) plan.

If you are in a 401(k) that does not offer these options, this is a way to make lemonade from lemons.

Dan Solin is the author of The Smartest Investment Book You'll Ever Read (Perigee Books 2006) and The Smartest 401(k) Book You'll Ever Read (Perigee Books, June 24, 2008). Visit his website at Smartestinvestmentbook.com.

This is part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

This is a very common question: How do you know when to invest? Have the markets bottomed out? Or are we in for a precipitous decline?

Here is the answer: No one knows.

Here is what we do know:

I was sad to learn Jonathan Clements was leaving The Wall Street Journal, not to write at another media outlet, but to work at Citigroup. (Though I was far from shocked; the Murdoch-era editorial cleansing rages on, just today claiming top editor Marcus Brauchli.) Make that, I'm happy Clements is pursuing something new, different -- hopefully, stimulating and lucrative, too. I'm sad because he was the rare personal finance writer who indeed understood the personal, going beyond raw dollar signs to keep financial planning in perspective.

Clements made his last column unabashedly about the personal, lifting the editorial curtain to expose his feelings about the endgame for all this financial engineering. "What is the real reason for all this saving and investing?" he asked. "The short answer is, you save now so you can spend later. But what will you spend your money on? People dream of endless leisure and bountiful possessions. Unfortunately, after a few months, endless leisure often seems like endless tedium."

He went on to cite three key things wealth can – should -- do for us, noting their relevance to the fat of wallet and modest savers alike: (1) If you have money, you no longer should worry about it; (2) Money can give you the freedom to pursue your passions; (3) Money can buy you time with friends and family.

You are supposed to be able to trust and rely upon your broker or advisor, right? The securities industry spends hundreds of millions of advertising dollars to convince you that your reliance is justified.

The legal obligation of these "investment professionals" is very clear.

This is part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

If you are investing for retirement, you should be focused on the long term. Your primary concern is the amount of money you will accumulate for your retirement.

It is easy to lose this focus when the steady drumbeat from the financial media if rife with predictions of financial doom and gloom.

Retirement expert Dan Solin is the author of The Smartest Investment Book You'll Ever Read (Perigee Books 2006) and The Smartest 401(k) Book You'll Ever Read (Perigee Books, June 24, 2008).

Ask him your questions in the comments box and he will answer as many as he can. You can visit his website at Smartestinvestmentbook.com.

Read his most recent "Naked Truth" posts here. This column is designed to provide information about investing for retirement that will be relevant to a large group of readers. If you require legal service or other expert assistance, please seek the services of a competent professional.

This is the part of a new series of columns called "The Naked Truth," by retirement expert Dan Solin. Please bring him your questions, in the comments box, and he will answer as many as he can.

Want to make a lot of money in a down market? Write a book predicting a financial meltdown.

It worked for Howard Ruff. He racked up huge sales with his book, How to Prosper During the coming Bad Years, written in 1979.

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Dear Ken and Daria,

My husband and I are 62. We are debt- and mortgage-free. Our savings, however, are not as high as we'd like. What can we do to make sure we still have money for when we retire in a few years?

Joyce

Ken and Daria Dolan offer advice on all of your retirement questions and concerns at Dolans.com.

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