Which Medicare plan works best for me?

Q: My wife told me she thought you had a spreadsheet somewhere that will enable me to make a fair determination as to which prescription drug plan or supplemental plan will work best with Medicare for us. Is there such tool available and if so, please let me know how I can get it?

A: Sure, first go to my Web site, and click on the "special reports on Medicare Drug plans" that are below the section titled "columns." Read the one on how to use your computer to get the best drug plan. Or just go directly to www.Medicare.gov and then near the top right, in the blue box on the home page, click "compare" -- and then on the next page in the blue box near the bottom there is a small white box that says "find and compare plans."

That's how you start. Be prepared with your Medicare card number and also line up your prescription bottles so you can enter the names and DOSAGES properly -- it's intimidating to start, but easy to do it. You can even choose from a list of pharmacies near you. Then you'll get a list, showing the least expensive plan -- in terms of total out of pocket dollars -- on top. Don't even try to think about donut holes, and stuff like that. Just take the least expensive overall plan.

Terry Savage is a registered investment advisor and the author of the newly published The Savage Number: How Much Money Do You Need To Retire? (256 pages, Wiley, $24.95).