Retirement Issues

Boomers will change retirement thinking

2005-12-26T08:05:00.000-08:00

SALT LAKE CITY – The new year marks the 60th birthday for the first of the baby boomers, heralding a dramatic transformation of the labor market. With more than a third of the workforce age 45 and older, many employers are bracing themselves to lose 25 percent to 45 percent of their workers in the next deca

Journal Gazette 12/26/2005 Boomers will change retirement thinking

The Grip Of Credit Card Debt

2005-12-03T08:20:00.000-08:00

(CBS) William Love is getting a masters in business administration, along with an advanced degree in debt.

Love's credit card debt is nearly $40,000, he tells CBS News correspondent Trish Regan. His minimum payments alone total $600 a month.

CBS News | The Grip Of Credit Card Debt | December 2, 2005�19:30:06

Greenspan Again Warns Baby Boomers of Retirement Threats

2005-12-03T08:17:00.000-08:00

Dec. 2, 2005 – Once again baby boomers are being warned that unless something is done about the soaring federal deficit their retirement years may fall far short of expectations

Greenspan Again Warns Baby Boomers of Retirement Threats

Confusing tax-advantaged retirement plans

2005-11-27T11:35:00.000-08:00

"UNCLE SAM has been generous to a fault in creating tax-advantaged retirement plans. He has foisted upon the public a mind-boggling array of options, at least a dozen, each with itsown set of rules as to contributions, structure and withdrawals.
...
Instead of helping people preserve money for a retirement nest-egg, this tidal wave of alphanumeric soup is choaking the nation, discouraging the public from participating.

Inside Bay Area - Home

Retirement saving no laughing matter

2005-11-19T13:16:00.000-08:00

"NEW YORK - Why is it so devilishly difficult to save for retirement? Humorist Ben Stein - who's an economist by training - thinks he has the answer"

Retirement saving no laughing matter

Chicago Tribune | Outlook bleak on saving for retirement

2005-11-13T14:10:00.000-08:00

"A survey by the Employee Benefits Research Institute said 52 percent of working adults have saved less than $25,000 for their golden years."

Chicago Tribune | Outlook bleak on saving for retirement

How Much Is Enough? - Yahoo! News

2005-11-05T06:55:00.000-08:00

A regular feature of The Motley Fool's Rule Your Retirement service is our success stories -- profiles of people who have become financially independent. One of the most remarkable stories is about Billy and Akaisha Kaderli, who, at age 38, left their fast-track lives, moved to Nevis, West Indies, in the Caribbean, and started traveling the world. Their story follows.

How Much Is Enough?

Early retirement won’t boost your lifespan

2005-10-22T15:54:00.000-07:00

"Contrary to a popular belief, people who take early retirement do not live any longer than those who retire later — and in fact they are likelier to die sooner, according to a statistical study published on Friday."

Daily Times - Site Edition

Boomers use early retirement as springboard to new careers

2005-10-11T15:59:00.000-07:00

"Americans' dreams of early retirement, interrupted by the 2000 stock market bust and the 2001 recession, live on. They have been revived in part by the economy's rebound, soaring home values and the ambitions of baby boomers - although often accompanied nowadays by the realization they'll still need additional income."

Boomers use early retirement as springboard to new careers

How much is enough?

2005-10-05T17:01:00.000-07:00

Business 2 Business

The net result for tomorrow's retirees will be "less help from government and less help from business," Isaacson said. "If we want a comfortable retirement, we will have to do it ourselves."

Survey shows more are planning to work past retirement

2005-08-21T14:07:00.000-07:00

"NEW YORK - Nearly 7 in 10 workers plan to stay on the job past retirement age - including a growing number who say the decision will be driven by financial need, a new survey finds.

The survey, released Wednesday, echoes others in recent years showing more Americans plan to work longer. But the nationwide poll, by the John J. Heldrich Center for Workforce Development at Rutgers University, taps into increasing concerns among many workers - particularly Baby Boomers - about the need to supplement their income once they leave their primary job."

Survey

No happy birthday for Social Security, which turns 70

2005-08-14T14:05:00.000-07:00

"WASHINGTON — Lawmakers and interest groups are gearing up for a fight this fall over Social Security, each side hoping to use the retirement and disability program's 70th birthday to build momentum."

No happy birthday for Social Security, which turns 70

Ready For Higher Credit Card Payments?

2005-08-07T08:25:00.000-07:00

"Get ready for higher credit card payments.

The federal government is urging banks to increase minimum payments on credit cards so people will be able to get out of debt sooner.

At Consumer Credit Counseling Service, employees are bracing for a flood of new clients looking for help with credit card debt."

Ready For Higher Credit Card Payments?

More companies make retirement saving automatic

2005-08-07T08:21:00.000-07:00

"In a broad effort to simplify retirement savings and get larger numbers of people to save for life after work, companies are increasingly making 401(k) choices for their employees."

More companies make retirement saving automatic

Three Rules of the Road to Retirement

2005-07-17T19:06:00.000-07:00

"Where are you on the road to a comfortable retirement? Are you nearing the exit sign to a retirement you've dreamed about, or is retirement still a long drive away?

Regardless of how far you still have to travel, there are three "rules of the road" that you must follow to reach your destination safely."

Click Here

Bradenton Herald | 07/16/2005 | Why won't Americans save for retirement?

2005-07-16T12:48:00.000-07:00

"Most Americans are pretty sure they'll do just fine in retirement. The latest Retirement Confidence Survey, released in April, found that 65 percent of workers are either very confident or somewhat confident they'll have enough money to live comfortably in their retirement years.

A lot of us are kidding ourselves"

Bradenton Herald | 07/16/2005 | Why won't Americans save for retirement?

Boomers at retirement facing tough choices

2005-07-03T17:40:00.000-07:00

"In July, the oldest of baby boomers will turn 59 1/2, that magical age when they can tap tax-deferred retirement accounts without penalty.
This means that after decades of accumulating assets -- let's hope -- boomers are nearing the time they'll retire and begin to spend down assets. The financial decisions at this juncture can be just as tough as when they were younger, but the consequences are far more serious."

Boomers at retirement facing tough choices

DeMint Plan Uses the Social Security Surplus for Retirement Instead of More Federal Spending

2005-06-25T15:53:00.000-07:00

"For 22 years, Congress has used surplus tax revenues going into Social Security to hide the real level of federal spending. Instead of saving this money to pay future benefits—as was intended—Congress used it to disguise the extent of annual budget deficits. Sen. Jim DeMint (R-SC) and Rep. Jim McCrery (R-LA) have created legislation that would save Social Security’s surplus and use it to improve Americans’ retirement security."

Retirement

RETIREMENT: Tips on long-term care insurance

2005-06-22T17:44:00.000-07:00

"If you are contemplating retirement within the next few years, you need to plan ahead, according to Gannett News Service. Here is another question you should ask. Should I buy long-term care insurance?"

RETIREMENT: Tips on long-term care insurance

Retirement fears spur Congress to consider blend of proposals

2005-06-19T14:44:00.000-07:00

"WASHINGTON — The American dream of a secure retirement appears in jeopardy, and lawmakers are scrambling to find answers lest they be sent into early retirement themselves."

Retirement fears

Kiplinger Personal Finance - Your guide to making money work.

2005-06-12T07:58:00.000-07:00

Click on Kiplinger to see three different suggested portfolios:

Short-term | When you need your money soon -- or now
Retirees in their mid to late sixties should consider replacing some or all of their bond funds with immediate fixed annuities that pay guaranteed monthly checks for the rest of the policyholder's life.

Medium-term | Nearing retirement or other goals
This portfolio is designed for people who are within five years of retirement

Long-term | Building wealth for retirement or college.
This portfolio is ideal for investors who have at least six years until retirement

Kiplinger

Leavenworth Times: News Index

2005-06-11T05:46:00.000-07:00

"To many, the post-retirement years evoke images of travel, relaxation and leisure time. Unfortunately, the reality is that many older adults experience depression and anxiety disorders. Misguided by the popular notion that depression is a normal part of aging, many do not seek the help they need."

Leavenworth Times: News Index

Chicago Tribune | Too many save too little to be retirement ready

2005-05-29T18:52:00.000-07:00

" Why aren't we putting more away, especially in retirement plans that save us money upfront on income taxes?"

Too many save too little to be retirement ready

Republicans broaden strategies for overhauling Social Security

2005-04-30T15:10:00.000-07:00

"Washington -- House Republican leaders vowed Friday to push through Congress an overhaul not just of Social Security but "retirement security," grabbing the baton President Bush handed them at his prime-time news conference and promising to run with it."

Republicans broaden strategies for overhauling Social Security

Retirement Guide

2005-04-27T18:30:00.000-07:00

"Think about your retirement savings. For many of us, that nest egg is our single largest asset -- and now that nest egg is under assault.

After three years of steep market losses, Americans are changing their assumptions about retirement. Portfolios have been decimated and 401(k) balances have shriveled"

Retirement

Put retirement investment on autopilot for success

2005-04-24T11:38:00.000-07:00

"A recent study of 5 million households conducted by the Vanguard Group found the ill effects of the bear market are slowly working their way out of long-term portfolios, with a majority of 401(k) and individual retirement account holders finally showing positive returns."

The State | 04/24/2005 | Put retirement investment on autopilot for success

Most workers upbeat on retirement income

2005-04-18T18:50:00.000-07:00

Chicago Tribune

CHICAGO - If only Americans could bank on overconfidence to fund their golden years.

Sixty-five percent of workers surveyed by the Employee Benefit Research Institute said they were very or somewhat confident that they will have enough money to live comfortably throughout retirement.

What's surprising about these numbers, part of the institute's annual retirement confidence survey to be released Tuesday, are that 20 percent of the very confident participants aren't currently saving funds for the future. Instead, they're banking on money from their company, job or financial acumen to carry them through retirement.

As for those who are setting aside funds, financial experts fear retirement income expectations for many workers are out of line

Retirement: It may not be what you expect

2005-04-17T12:51:00.000-07:00

Retirement

RETIREES FACE SIX STAGES:
STAGE 1 THE HONEYMOON
STAGE 2 TOO MUCH TIME
STAGE 3 NEW ROLES
STAGE 4 FACING LOSS
STAGE 5 NEW PASSIONS
STAGE 6 FEED THE MIND

Take more risk for a bigger retirement payoff

2005-04-12T19:59:00.000-07:00

"Many boomers will retire with more than $1 million in savings, but believe it or not, it may not be enough. Here's a guide to saving that million (quickly) and having the retirement you want."

MSN Money - Take more risk for a bigger retirement payoff

Retirement and Tax Credit Considerations That Benefit Military Personnel

2005-04-01T16:20:00.000-08:00

"PARSIPPANY, N.J., April 1 /PRNewswire-FirstCall/ -- As part of its month-long "Support Our Troops" effort, Jackson Hewitt Tax Service (NYSE: JTX - News) outlines key tax laws that can benefit military members this tax season. From special income considerations to retirement accounts and select tax credits, military personnel will be able to claim key credits, deductions and other benefits to which they are entitled, ideally creating a positive effect on their financial bottomline."

Retirement and Tax Credit Considerations That Benefit Military Personnel

Lazy man's guide to retirement - Mar. 30, 2005

2005-03-31T20:40:00.000-08:00

Lazy man's guide to retirement - Mar. 30, 2005

"Be honest: Wouldn't you rather watch paint peel than strategize a savings plan for retirement?

I often would.

Whether you work long days at the office or at home taking care of kids, the prospect of strategizing for life 10, 20, 30 or 40 years from now can leave most of us feeling exhausted, daunted or just so uninterested we can't rouse ourselves to care. "

How You Should REALLY Save For Retirement

2005-03-30T17:42:00.000-08:00

"As Congress and the Bush Administration duke it out over Social Security's future, don't sit idly by and wait to control your retirement destiny. There are proactive alternatives to just collecting government checks in your golden years."

How You Should REALLY Save For Retirement

The 15-minute retirement plan

2005-03-29T04:20:00.000-08:00

"Whether you're starting out or well on your way, these six simple rules are all you need to know"

"And if you haven't begun saving yet, well, the fear that you're starting too late can be daunting enough to keep you from getting in the game at all. But that's a mistake."

retirement plan

Annuitization assures retirement savings last

2005-03-27T17:29:00.000-08:00

"Almost every working person in America is in some way planning for retirement. Most of us are aware that traditional sources of retirement income, such as Social Security or an employer-sponsored pension, probably will not fully fund our retirement as they did for past generations. It is up to us to prepare financially for our retirement years."

Annuitization assures retirement savings last

Retirement Issues - Personal Finance

2005-03-26T20:26:00.000-08:00

"Take a deep breath - and then look at the accompanying table. There, you will find savings and debt guidelines put together by Charles Farrell, a financial consultant in Medina, Ohio. These guidelines will, I suspect, generate howls of outrage. But I think they offer a much-needed reality check, especially for folks who are piling on the mortgage debt so they can play in today's overheated housing market."

An ideal retirement includes job, survey says

2005-03-26T20:20:00.000-08:00

"Life expectancy has increased to the point that an American reaching age 65 can expect to live, on average, for 19 more years, according to federal statistics. Boomers can add thousands to their nest eggs if they spend part of their later years working, according to "The New Retirement Survey," released by Merrill Lynch last month.
"

An ideal retirement includes job, survey says

Take 5 steps toward early retirement

2005-03-26T11:04:00.000-08:00

"It doesn't take an unexpected windfall to make early retirement happen. It takes a strategy, careful planning and a little sacrifice. Here's how to get started."

Take 5 steps toward early retirement

Roth rules: Who can open this retirement account?

2005-03-25T20:15:00.000-08:00

"Retirement accounts get added attention during tax-filing season. That's because you must put money in an individual retirement account no later than the April return-filing deadline. It doesn't matter whether your contribution is to a traditional IRA (tax-deductible or nondeductible) or a Roth IRA."

Roth rules: Who can open this retirement account?

Study shows need to rethink health care in retirement

2005-03-24T20:51:00.000-08:00

"People used to say that if you had your health you had it all.

Well, times have changed. Nowadays, people say that if you have your employer-sponsored retiree health insurance you've got all. Unfortunately, fewer and fewer Americans will be able to make that statement in the years to come"

Study shows need to rethink health care in retirement

Eleven Years Left to Seed Personal Retirement Accounts

2005-03-23T17:49:00.000-08:00

The unfunded liability is now up over $11 trillion," said Institute for Policy Innovation (IPI) Senior Research Fellow Larry Hunter. "The important thing to recognize, however, is that this liability can be completely eliminated with personal retirement accounts, without raising taxes, and without cutting benefits."

Eleven Years Left

Retirement planning can be simple

2005-03-22T18:54:00.000-08:00

"There are many retirement plan alternatives available for small business owners and their employees. One option is the SIMPLE IRA, which is available for organizations such as sole proprietorships, partnerships, corporations and nonprofit organizations. Unlike many retirement plans, there are guidelines the company must meet to participate in a SIMPLE IRA plan. To help you better understand this plan, here are the answers to some commonly asked questions:
"

Retirement planning

Seniors drowning in credit card debt

2005-03-21T17:17:00.000-08:00

"Seniors and aging baby boomers are struggling with growing credit card debt - and experts expect the numbers to rise as retirement funds fall short and the cost of living spirals ever higher.
``We see a lot of older folks on fixed incomes who are finding retirement funds are not sufficient to keep up with everyday living,'' said Andy Liles of American Credit Counseling Service Inc. ``They go into credit-card debt trying to pay for their meds.''

Seniors drowning in credit card debt

Picturing your retirement

2005-03-21T17:09:00.000-08:00

"Many people have a picture in their minds of how their retirement will look. That picture might look as peaceful and serene as an Ansel Adams print.

But how will those people accomplish that peace and serenity while the financial environment keeps changing? Will their current plan meet their future objectives? Will they be able to adapt as the environment changes"

Picturing your retirement

Book club pick is an instruction manual toward your retirement - 3/20/05

2005-03-20T12:53:00.000-08:00

"The humorist Mason Cooley once said, "In retirement, only money and symptoms are consequential."

Well, that may have been true at some point. But people who have just retired and those who are close to retirement have so much to deal with these days that it's practically a full-time job figuring out how to retire. "

Book club pick is an instruction manual toward your retirement - 3/20/05

Women struggle to save for retirement

2005-03-19T09:42:00.000-08:00

"There is a stark difference between men and women when it comes to planning for retirement. NBC's Kelly O'Donnell reports."

Women struggle to save for retirement

Americans' Retirement Optimism Likely Built on Shaky Ground

2005-03-17T16:43:00.000-08:00

"The survey found most Americans have never estimated how much money they will need for retirement and most also fail to regularly monitor their retirement assets. In addition, three in five have not met with a financial services provider, seven in 10 have not sought retirement advice from books, magazines, television or the Web, and one in four have personally saved less than $5,000 for retirement."

Americans' Retirement Optimism Likely Built on Shaky Ground

Greenspan suggests Social Security benefit cuts, new retirement age

2005-03-16T20:45:00.000-08:00

" Greenspan also told the Senate Select Committee on Aging that lawmakers should give themselves a deadline of 2008 to fix the system. That's when the first wave of 76 million baby boomers will begin to retire."

Greenspan suggests Social Security benefit cuts, new retirement age

These days, retirement should have a manual

2005-03-15T18:41:00.000-08:00

"The humorist Mason Cooley once said, "In retirement, only money and symptoms are consequential."

Well, that may have been true at some point. But not now. People who have just retired and those who are close to retirement have so much to deal with these days that it's practically a full-time job just figuring out how to retire."

retirement should have a manual

What income do you need in retirement?

2005-03-14T17:46:00.000-08:00

"Conventional wisdom says you need 70 to 80 percent of your pre-retirement income to maintain your lifestyle, but now, former New York Times business editor Fred Brock says that's just a myth perpetuated by the financial services industry."

“Something like 40 to 45 percent is much more realistic than 70 to 80 percent,” says Brock, author of the book "Retire on Less Than You Think."

What income do you need in retirement?

Professor spotlights 60 best places to spend retirement

2005-03-13T13:38:00.000-08:00

"If you plan to relocate for your retirement years, "Retire in Style: 60 Outstanding Places Across the U.S.A. and Canada" provides an objective look by geography professor Warren R. Bland. He uses a 12-point rating scale and personal observations for the places he deems best"

best places to spend retirement

President Bush campaigns to change Social Security

2005-03-12T14:45:00.000-08:00

"WASHINGTON (AP) — As President Bush campaigns to change Social Security, he needs to win over independents, married women and Southerners — people who tend to support him on terrorism but have indicated doubts about his plans for the retirement program."

Bush's Social Secuirty Plan

Taking a retirement tax break before retiring

2005-03-11T14:49:00.000-08:00

"In order to encourage retirement savings among lower-income taxpayers, Congress created a tax credit. Because lower income taxpayers don't receive as much of a benefit as higher income taxpayers when they deduct retirement savings, the credit is intended to equalize the tax benefit

Retirement tax break

Planning a Working Retirement

2005-03-10T16:03:00.000-08:00

"W.D. Crotty is old enough (and has the gray hair to prove it) to have heard it all before. Our politicians are going to "fix" Social Security -- yeah, and the family pet, too. But, you and your senator face a common problem. You may have to work after age 65 to avoid outliving your retirement funds."

Working Retirement

Working After Retirement

2005-03-09T15:29:00.000-08:00

"Some facts and figures about older Americans, their efforts to stay in the work force and their views on retirement."

After Retirement:

Planning key to retirement gold

2005-03-08T14:45:00.000-08:00

"With Social Security's future in doubt, maybe you're thinking about boosting your own retirement saving.

That will help safeguard your retirement security, and it could also reduce your tax bill. The amount of money you can shelter from taxes will go up in 2005. Here's a rundown of the new contribution limits. "

Retirement gold

ABC News: GOP, Democrats Spar Over Retirement Age

2005-03-07T14:53:00.000-08:00

"A leading Republican senator is proposing to raise the Social Security retirement age from 67 to 68, while Democrats maintain their opposition to the president's plan to overhaul the retirement program with private investment accounts.

GOP, Democrats Spar Over Retirement Age

Retirement -- an unnatural act

2005-03-06T15:50:00.000-08:00

Withdrawing from the work force at a certain age is a relatively recent practice -- and its time has come and gone, says William Ecenbarger

Retirement is an idea whose time came, flared for two generations and is now dying rapidly. Rising in its place is an ancient idea. It's called living.

Retirement -- an unnatural act

Planning key to retirement gold - 02/07/05

2005-03-06T08:55:00.000-08:00

Retirement overhaul gets push

2005-03-03T17:47:00.000-08:00

"Even as polls indicate waning public support for overhauling Social Security, President Bush and Federal Reserve Chairman Alan Greenspan turned up the heat Wednesday on Congress to act quickly to revamp the retirement program."

Retirement overhaul

How can I retire with these credit card debts?

2005-03-02T14:09:00.000-08:00

Credit card debt can be a consideration when thinking about retirement. There was no way that I could retire and make the credit card payments that I had. Then I discovered that there was a way using FTC law to stop paying on the cards. Now my retirement benefits can meet my needs.

If you would like to learn about how the FTC laws can help you get out of debt click below.

Stop credit card payments today!

Fear -- a good incentive to save for retirement

2005-03-02T14:08:00.000-08:00

"...too many people lack the motivation to save for retirement, says a study released last week, conducted by human resources firm Hewitt Associates, and researchers from Harvard University and the Wharton School of the University of Pennsylvania. A lack of motivation is the biggest obstacle to saving for retirement among workers who either contribute minimally or don't contribute at all to their 401(k) plans."

Save for retirement

Retirement - Social Security fight gets personal

2005-03-01T19:34:00.000-08:00

"The debate over Social Security (news - web sites)'s future is taking on the intensity, mudslinging and personal attacks of last fall's presidential campaign."

"Some of the tactics have little connection to the debate's subject: how to shore up the government retirement system, and whether to create private investment accounts."

government retirement system

How Different Age Groups View Retirement

2005-02-28T16:45:00.000-08:00

A look at how different age groups view retirement and Social Security proposals. The results are from an AP-Ipsos poll of 1,000 adults taken Feb. 22-24 with a margin of sampling error of plus or minus 3 percentage points, larger for subgroups.

_RETIREMENT CONFIDENCE: Two-thirds of those who are very confident they will have the money to retire comfortably support President Bush's proposal to allow people to invest part of their Social Security taxes in stocks and bonds. Those who are somewhat confident lean toward opposing the plan and those who are not confident, clearly oppose it.

_AGE: About half of those 18-39 support President Bush's proposal to create personal accounts in Social Security. About one-third of those 40-64 support it; one-fourth of those 65 and over support it.

_EDUCATION LEVEL: Three in 10 of those with a high school education support the proposal to create personal accounts. More than a third of those with some college support it; half of those with college degrees support it.

_INCOME LEVELS: About three in 10 of those who make $25,000 or less support the proposal to create personal accounts. About four in 10 of those who make more than $25,000 but less than $75,000 support it. Almost six in 10 of those who make $75,000 or more support it.

Lawmakers Preview Debate on Social Security Retirement

2005-02-28T10:46:00.000-08:00

"A congressional ally of President Bush said on Sunday that Social Security was likely to be revamped this year, but a Democrat warned that lawmakers would sink Bush's plan if he insists on private investment accounts for the retirement system."

Social Security Retirement

Your Retirement? It's in bottom drawer of file cabinet by Ohio River

2005-02-26T15:12:00.000-08:00

"PARKERSBURG, W.Va. -- The Social Security trust fund really does exist--nestled in the bottom drawer of an unremarkable government file cabinet. "

"It's in a pair of white loose-leaf notebooks holding plastic page covers. Each caresses a piece of paper representing a bond worth a staggering amount of money. Say, $8,577,396,000.00 ($8.577 billion), due on June 30, 2013, with 6.5 percent interest."

"Sort of."

"Actually, the entire setup is, well, a setup: "

Your Retirement

U.S. savers see retirement task as 'insurmountable'

2005-02-24T15:28:00.000-08:00

"Provide all the guidance you want. Deliver all the education you can. None of it seems to matter a hoot. Americans simply have no desire to save for retirement in their 401(k), says a new study from Hewitt Associates, a Lincolnshire, Ill.-based consulting firm."

U.S. savers see retirement task as 'insurmountable'

How Baby Boomers Will Transform Retirement

2005-02-22T16:12:00.000-08:00

"Merrill Lynch today announced the findings of a new study that reveals how baby boomers envision their retirement and the coming decades of their lives. "

The New Retirement Survey

Is Retirement a Health Hazard?

2005-02-22T06:16:00.000-08:00

"Thanks to improved medical care and increased life span, millions of baby boomers can expect 20 to 30 years of healthy life after retirement. But sometimes, that's a lot easier said than done"

"Author Ellen Freudenheim says that the key to moving easily through what she calls "The Retirement Zone" is to stay optimistic, socially engaged and physically fit."

New Book Shows How to be Older Without Getting Old

Laid Off at 50: Bridging the Retirement Gap

2005-02-21T08:02:00.000-08:00

This kind of dramatic midlife shift is becoming more common — and necessary. As employers reduce the ranks of mature workers, euphemisms such as golden handshake, early retirement, buyout, and "early out" mask a sobering reality: Most laid-off workers over 50 cannot afford to retire and yet search unsuccessfully for jobs.""

Bridging the Retirement Gap

Couples are discovering the transition to retirement can test their marriage

2005-02-20T19:12:00.000-08:00

"Rosemary Ford is laughing. Sort of."

"Ms. Ford, age 58, is explaining that when she retired from her job as an attorney for the state of Massachusetts in 1999, she just assumed that her husband would follow suit in 2003. That's when he first became eligible for retirement benefits."

Couples

Raising early-retirement age considered to fix Social Security gap

2005-02-19T15:55:00.000-08:00

"With President Bush and Congress looking for ways to close a projected Social Security funding shortfall of trillions of dollars, one option is to delay the early retirement age, now 62, when people can begin taking benefits."

Yahoo! News

GOP concerned with raising tax cap for retirement plan

2005-02-18T14:51:00.000-08:00

WASHINGTON (AP) -- Increasing Social Security taxes for the wealthiest Americans could raise more than $100 billion a year -- enough to shore up the retirement system's finances for 75 years, pay for President Bush's plan for private accounts, or part of each.

newarkadvocate.com

No social security plan can guarantee comfortable retirement

2005-02-17T14:33:00.000-08:00

" We live in a variable world. There are adjustable-rate mortgages, variable-rate credit cards, self-directed 401(k) retirement accounts and fluctuating exchange rates."

"People cross their fingers hoping these variables turn out to their advantage, particularly since prospects for their jobs are variable too."

South Florida Sun-Sentinel

American retirement increasingly rides the market

2005-02-16T14:52:00.000-08:00

"As Americans increasingly focus their attention on the future of Social Security ... a growing number of states and companies are also looking at the health of their own retirement plans - and pushing further away from traditional paid benefits in favor of models more akin to President Bush"

Yahoo! News

Oxford, Mississippi highlighted as retirement destination

2005-02-15T14:37:00.000-08:00

"OXFORD — Kiplinger's Personal Finance magazine has named the City of Oxford as an ideal retirement destination in its March 2005 issue. The article highlights Oxford, the University of Mississippi and all the benefits of retiring to a college town."

"The story affectionately calls Oxford a "cosmopolitan Mayberry" and features photographs of the town’s Square and William Faulkner's estate. It also highlights the reasonable cost of living in Oxford, high-quality medical care, an eclectic assortment of restaurants and other amenities important to retirees."

"The presence of a college provides any city, especially a small one, with youthful vitality, new ideas and a town-and-gown symbiosis that fosters the arts, restaurants, bookstores and high-quality medical facilities," wrote Patricia Mertz Esswein, contributing writer for Kiplinger's."

"Oxford now has been featured in more than 40 periodicals because of the work of the Oxford-Lafayette Economic Development Foundation's Retiree Attraction Program to promote Oxford as an ideal retirement destination. Since its inception in 1993, Oxford has attracted more than 530 retiree households."

Source:Mississippi Business Journel Online
http://www.msbusiness.com/article.cfm?ID=1180

"Creating an income stream for retirement"

2005-02-14T14:08:00.000-08:00

Knight Ridder Newspapers

"(KRT) - Retirement isn't a finish line; it's a starting point that requires a new set of financial strategies. You may want a plan to produce regular income that can replace the paycheck you received during your career."

"The first step is to consider how much income you'll need during retirement. You can begin by listing your current expenses in various categories - from groceries to auto maintenance - and then estimating how those costs are likely to change."

"Once you retire, you'll probably save money in some categories. Many older workers and retirees reduce their housing costs by trading down to a smaller home. And you may save money on work-related costs such as transportation and office attire."

"Then again, some expenses may increase. Health care costs are likely to rise as you grow older, and you may spend more money on travel or hobbies."

"The next step is to review your retirement resources. Start with Social Security and corporate pensions, which can provide regular payments. Chances are, you'll need to supplement those payments by making regular withdrawals from your retirement savings."

"Such withdrawals require careful planning. Aim to reinvest some of your retirement portfolio's return each year so your portfolio's value will keep pace with inflation."

"The annual returns may vary from year to year, depending on economic conditions. You can ride out these fluctuations by choosing a regular withdrawal rate that you can sustain over the long term."

"Finally, you may decide to work part time during retirement. That may help you to minimize withdrawals from your retirement savings. The result: stronger long-term financial prospects - and perhaps satisfaction in a late-blooming vocation."

---

SOURCE: Derrick Kinney, ChFC, senior financial adviser, American Express Financial Advisors-Arlington, Texas

---

Saving for retirement harder for women

2005-02-13T16:12:00.000-08:00

"While the political debate heats up over President Bush's proposals to overhaul Social Security, many workers hope to fully cover their own retirement expenses by following the traditional investment advice of setting aside 10 percent of their income each year.

However, many women will find themselves facing drastic lifestyle cuts in retirement if they follow that dictum, researchers say."

billingsgazette.com

Wretched Retirement Realities

2005-02-11T11:48:00.000-08:00

"...$1.25 million. That's how much you'd need if you wanted your savings to provide $50,000 of inflation-adjusted retirement income every year, with a good chance that you wouldn't outlive your money."

Yahoo! News - Wretched Retirement Realities

Kiplinger.com - JUMP-START YOUR RETIREMENT PLAN

2005-02-09T15:03:00.000-08:00

"From 9 a.m. until 6 p.m. eastern time on Friday, February 18, and Friday, March 4, NAPFA members across the U.S. will be standing by to take your calls and answer your questions. Normally, these planners charge clients $100 to $250 an hour. But on Jump-Start Days, you pay nothing -- not even for the phone call. Just dial 888-919-2345."

Kiplinger.com - JUMP-START YOUR RETIREMENT PLAN

'Work at home' scams on the rise

2005-02-09T09:25:00.000-08:00

"PASADENA -- The U.S. Postal Service warned local customers Tuesday that "Work at Home' scams jobs that sound too convenient and too profitable to be true are fraudulent and on the rise"

Pasadena Star-News - News

For a look at a work at home opportunity that is not a scam click here.
Work From Home Running A Blog!

Forbes.com: Seven Deadly Sins Of Retirement Planning

2005-02-08T20:28:00.000-08:00

"NEW YORK - Write this down: You're not immortal, you're not going to win the lottery, and planning to get sent up the river so you get three hot meals and a cot while carrying on dazzling intellectual conversations with fellow inmates isn't a good retirement plan. "

Forbes.com: Seven Deadly Sins Of Retirement Planning

Working the (retirement) plan

2005-02-07T19:50:00.000-08:00

"The transformation of retirement advisers into superheroes is not the usual stuff of cartoon legends. But for investment adviser Michael Carminucci, humor is a key component in planning for retirement."

Westchester County Business Journal

Baby boomers may not be as prepared for retirement as they think.

2005-02-06T21:41:00.000-08:00

"Only 42 percent have decided on an age to retire and have planned how much they should save each month to achieve that goal, reports Allstate Insurance. How do you fare? Answer these 10 questions:"

Homework for retirement should cover these bases

Social Security Must be Changed

2005-02-05T11:19:00.000-08:00

"We are now faced with the very thorny issue of how to assure that this well-intentioned supplemental income will be available for retired baby boomers in the very near future.
To make matters worse, the supposed government infusion of matching funds has been [in the form of] IOU slips, year after year"

Incremental changes

Three tools to whittle that tax bill

2005-02-05T09:06:00.000-08:00

"Liberal, conservative, independent, or party-line voter - it doesn't matter. When it comes to paying taxes, most Americans have the same attitude: Pay what you owe and not a penny more."

newsobserver.com

Web Sites Offer Retirement-Plan Reality Checks

2005-02-04T16:25:00.000-08:00

"As you craft your own retirement plan, you may turn to the Internet for help with tasks ranging from research to various calculations."

Yahoo! News

Essentials of a home office

2005-02-04T08:53:00.000-08:00

If you are thinking about a home office, here is some sound advice.

globegazette.com

White House offers details on retirement accounts

2005-02-04T06:39:00.000-08:00

"Though many details are yet to be determined, here are the key elements revealed Wednesday by White House aides:"

retirement accounts detail

Healthier seniors mean sex, privacy issues

2005-02-04T06:33:00.000-08:00

"As seniors live longer and healthier lives, relationships ..... are triggering a host of issues that many geriatric experts and long-term-care communities are just now addressing."

Healthier seniors

Seniors split on Medicare coverage of Viagra

2005-02-04T06:25:00.000-08:00

"Abington seniors Robert and Dorothy Pilato have been married for 51 years, have disagreed on several issues and have never used Viagra.
'I'd be afraid of him taking it, I tell you,' Dorothy Pilato, 67, said. 'I couldn't keep up with him.'"

The Enterprise at SouthofBoston.com

Get American's Lowest Fares At AA.com

2005-02-02T14:39:00.000-08:00

American Airlines "...guarantees that you'll find the lowest fares available for flights on American Airlines at AA.com. On the same day of your ticket purchase on AA.com, if you find an American Airlines fare for at least $5 less for the exact same flight and itinerary on another website, American will refund the difference in fare and give you a $50 travel voucher."

American's Lowest Fares At AA.com

Weight loss by seniors invites health dangers

2005-01-31T19:18:00.000-08:00

By Harry Jackson Jr., St. Louis Post-Dispatch
January 31, 2005

One group of Americans might want to ignore all the warnings about the obesity epidemic: people over 60.

After that age, stop dieting, say experts. Losing weight by not eating is dangerous for the elderly, so much so that even nursing homes have stopped serving diets that could promote weight loss, they say. If you want to lose weight, exercise, but don't stop eating.

A few things to remember: Dropping weight for younger people means an effort to reduce body fat. But for older people, losing weight often means dropping muscle mass and bone mass. Also, the chemistry of weight loss can actually make illnesses such as heart disease and other organ diseases worse.

"The body mass index that's healthy for young people is shown to be unhealthy for older people," said Sherry Robinson, assistant professor of nursing at Southern Illinois University School of Medicine in Springfield. "In nursing-home work, we're always watching the weights, because that's the significant problem, weight loss. We're more concerned about weight loss than we are about older people who are overweight."

As Baby Boomers rewrite the book on aging, they ought not forget that chemistry can't read; the chemistry of people over 60 to 65 changes permanently.

Weight loss among older people can come from a variety of sources, many of them physiological, Robinson said.

Among the causes:

Often, food loses its appeal. As people age, their senses of smell and taste diminish.

Older people may have dental problems that make eating more difficult.

Older people who live alone may be plagued by loneliness, depression and paranoia.

Medications may reduce appetite or change how people taste food.

Older people may not be able to afford the foods they found pleasurable before they were on fixed incomes.

People must deal with the infirmities of age: swallowing problems, glands going haywire or wearing out, and illness.

"It's a huge problem," says Dr. John Morley, director of the department of geriatrics at St. Louis University School of Medicine. "We're so fixated on obesity at the moment. But the problem is that as we get older, if you start to lose weight, you can't carry your weight any more because you're losing muscle weight as well. Then you become what's known as the 'fat frail,' and we've shown in studies that fundamentally, these are the people who have the worse outcomes."

The problem comes from a change in chemistry. In old age, the body produces too much of certain chemicals but too little of certain hormones, so the cells in the muscles and bones are unable to maintain themselves. Although doctors can control the problem with medication, older adults should be aware that dropping muscle and bone mass could occur at a dangerous rate when dieting.

Morley covered the issue extensively in the Winter 2004 edition of his magazine, Successful Aging.

About 10 percent of U.S. seniors -- starting at age 60 to 65 -- are underweight, and as many as half of nursing home residents may be underweight, says Morley. The National Health and Nutrition Examination Survey says that up to 16 percent of Americans over 65 consume fewer than 1,000 calories a day, which adds up to malnutrition.

Citing a recent study on senior weight loss, Morley said nearly a third of elder patients who continued to lose weight died, while more than 90 percent survived after reversing their weight loss pattern.

People over 50 can make 'catch-up' contributions for retirement

2005-01-31T19:05:00.000-08:00

"When it comes to retirement-savings plans at work, the 401(k) plan seems to hog most of the headlines. But there are other types of retirement-savings plans that are just as important."

People over 50 can make 'catch-up' contributions for retirement

Phased retirement lets older employees step back, not away

2005-01-30T12:31:00.000-08:00

"...it's the harbinger of a future in which older workers will be offered the chance to leave jobs gradually, opting for flexible hours and fewer responsibilities until they're ready to leave."

"Phased retirement"

Campaign aims to correct myths about retirement funding

2005-01-30T07:51:00.000-08:00

"The federal government is set to roll out a new pilot program to raise popular awareness of long-term care insurance and other options for financing expensive medical care after retirement."

Las Vegas Business Press

Travel: This Week

2005-01-30T06:57:00.000-08:00

"At one time, it was nearly impossible for would-be travelers to get current information on the true status of hotels, restaurants, transportation and beaches after a weather-related event.

But the Internet has filled this void."

The Web sites in this article should answer most questions and assist informed decisions.:

New study quantifies what people spend in retirement

2005-01-28T14:37:00.000-08:00

"...how much money do older Americans really spend in retirement, on housing, health care, food, clothing, transportation, entertainment, gifts and other items?"

New study quantifies what people spend in retirement

Do you need extra income?
Make Money With Your Favorite Topic!

Supplemental Income Opportunities

2005-01-24T09:39:00.000-08:00

"-- Leaving Prints is proud to announce a great work at home opportunity! You can now start your own scrapbooking business without the huge investment of opening a scrapbook store! The Leaving Prints instructor opportunity offers you the chance to share your scrapbooking passion with others and earn some extra money at the same time!"
If you are interested in Scrapbooking, take a look at this opportunity for making supplemental income from home.

The first wave of the Internet opportunity explosion has come and gone.
Good news: The SECOND WAVE is now upon us!
Click here to see another exciting home business.

Travel clubs are an economic way to travel

2005-01-23T13:50:00.000-08:00

Here are several travel clubs that can make your stay at your destination very economical.

"Members of the Evergreen Bed and Breakfast Club must be 50 or older" Evergreen Club

"The Affordable Travel Club limits its membership to those older than 40" Affordable Travel Club

"GlobalFreeloaders.com members take advantage of host hospitality by participating in accommodation exchanges via introductions made through the website." Global Free Loaders

"Friendship Force is a cultural exchange group that promotes peace and friendship in the world through homestays - building global goodwill through personal friendship"
Friendship Force International

"The Educators B&B Network is a travel club designed specifically for educators; started by teachers and still run by teachers"
This one is for educators

Alcohol may help mind stay sharp

2005-01-23T09:27:00.000-08:00

"A drink a day slows mental decline, study says. In the largest such study to date, older women who drank moderately had less mental decline than those who abstained....Although the study involved only women, Stampfer said he believed the results most likely applied to men as well."
Complete article here