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Estate planning is often discussed in the context of retirement, and rightfully so. Critical documents can ensure your wishes are honored when you're not in a position to speak for yourself. But it's not just a retirement issue — some of these forms are important for adults of any age. For example, parents might not realize that they lose access to their child's medical records when their teen turns 18. Without the right forms in place, they can't make medical decisions on their child's behalf. While accidents and illness can happen at any time, the pandemic adds extra urgency for families to make sure they're prepared. Learn more about the medical forms you need for your college student in today's edition. And for families that haven't yet decided about higher education, check out our brand new guide to the best colleges for your money.   Best wishes, Elizabeth P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue. To listen on podcast platforms or smart speakers, click here. TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE Parents: Make Sure These Health Forms Are Sorted Out When Your Child Goes Back to College   Have you signed a HIPAA release? These Are the 25 Best Colleges for Your Money Right Now   We scoured 20,000 data points across nearly 750 schools. "We Could Be Living in the 1890s": How Housing Discrimination Is Still Perpetuated Today   While housing discrimination is illegal, bias persists in subtle ways. RETIRE WITH MONEY COMMUNITY INSIGHTS This week in our Retire with Money Facebook group, members discussed end-of-life wishes in the context of the burial plans of one member's father. Someone posted the link to the Conversation Project, a resource to help families discuss topics related to death and dying. Check out their tips for getting the conversation started, and their new guide to end-of-life planning in the time of COVID-19. WHAT WILL MY SAVINGS COVER IN RETIREMENT?   Planning for retirement can be tricky; after all, there's no way of knowing for sure how much money you may need. You can start by estimating how much you may spend each year in retirement. You probably won't spend as much each year in retirement as you do during your working years, so you'll only need to replace part of your income in order to maintain your lifestyle in retirement. As a general rule of thumb, you can estimate that your savings (including a pension, if you have one) should provide a yearly income equal to about half of your pretax, preretirement income. Your Social Security benefits may cover the rest of your annual retirement expenses, but it depends on your spending and lifestyle. The age at which you claim Social Security benefits can have a significant impact on your monthly income too. Click below to see if you are saving enough for retirement. See if you're saving enough Investing involves risk, including risk of loss. Fidelity Brokerage Services LLC, Member NYSE, SIPC. © 2020 FMR LLC. All rights reserved. 938453.1.0   RETIREMENT NEWS FROM AROUND THE WEB An Intergenerational Friendship Formed During COVID-19   The story of one 65 year old and the friendship he made across the generational, racial and gender divide.  NEXT AVENUE 5 Things to Know if You're Considering Filing for Bankruptcy   Experts expect a big uptick in bankruptcy filings amid pandemic-induced financial woes. REAL SIMPLE Here's How to Do a Portfolio Checkup   After the stock market hit a milestone last week, it's time to evaluate what you own and see if any changes are warranted. HUMBLE DOLLAR Uncertainty Can Hold Unexpected Pleasures   What the ancient philosophers can teach us about living in this moment. THE ATLANTIC Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.

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