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Are high drug prices causing you pain at the pharmacy counter? If so, you might have perked up at recent drug company announcements that they’re freezing prices on their medications. Unfortunately, there are some caveats. For starters, it’s a temporary move. Also, Big Pharma doesn’t set the price that insured people pay for their meds -- only the uninsured typically pay list price. Your out-of-pocket costs are governed by a number of complicated factors. Learn more about how the price freezes could affect you in today’s edition.

Best wishes,

Elizabeth

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TIMELY RETIREMENT NEWS, INSIGHTS AND ADVICE
Several of the Biggest Pharma Giants Are Freezing Drug Prices. Here’s How It Will Affect You

Everything you need to know.

Meet the Billionaire Investing Guru Whose 27-Year-Old Book Is Now Selling for $3,000

A bootlegged Kindle version spiked before getting pulled off Amazon.

This Is the Best Barbecue Joint in Every State

These are the best barbecue places in the U.S. for brisket, ribs, pork shoulder and more, according to Yelp reviewers

ASK A READER

We had a fantastic chat in our Facebook group yesterday with William Danko, co-author of The Millionaire Next Door! Many thanks to all who participated. Topics included how the landscape has changed since the book first came out in 1996, whether Danko finds it hard to take his own advice sometimes (not these days, but he confessed to driving a Mercedes S500 in the days before he conducted his research), and how to motivate and educate young people. For those of you not on Facebook, I’ll leave you with Danko’s closing remarks:

“I want to leave you with some wisdom from the late Malcolm Forbes. He said that true wealth gives you freedom. What does it matter if you're making a quarter million dollars a year and can't afford to retire? You are still a wage slave, however gilded the cage may be. Living on your current income matters, but being able to live off of your net worth matters even more.”

RETIREMENT NEWS FROM AROUND THE WEB

These States Have the Highest Average Retirement Savings

You might be surprised: New York, home to many wealthy, isn’t number one. MARKETWATCH

Ask Amy: Elderly Mom Drives Kids Crazy With Her Driving

Amy advises a concerned daughter on what to do when her 89-year-old mother insists on driving without a license. THE CHICAGO TRIBUNE

Can Congress Fix the 401(k)?

Congress is proposing tweaks to our retirement system. Some say a bigger overhaul is needed. JILL ON MONEY

A Tax-Friendly Savings Strategy for High Earners

The GOP tax bill blessed the “back-door Roth.” CNBC

ABOUT ELIZABETH

Elizabeth O'Brien is a senior writer at MONEY, covering retirement and health care. You can email her at elizabeth.o'brien@moneymail.com and follow her on Twitter at @elizobrien.

 
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