FoxBusiness.com - Personal Finance
Single Female Boomers: Choose Your Castle Carefully
Single women make up the second largest contingent of home purchasers, according to the National Association of Realtors. One out of every five homes is purchased by a single woman, twice as many as compared to single men. ... And, with more than 25 million single (never-married, divorced, widowed) women over the age of 45 in the United States, it’s a huge and growing demographic.
2013-04-11
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Christian Science Monitor
Is automatic enrollment the future of retirement savings?
California’s plan faces several hurdles before enactment. But the evidence suggests that if it ever becomes policy, the plan will go a long towards increasing retirement saving.
2013-03-22
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USA Today
Boomer divorce: A costly retirement roadblock
Baby Boomers are divorcing at a surprising rate, and that will have huge implications for their lives in retirement. ... And while the experts say it's a product of, among other things, longer life spans, Boomer divorce will affect retirement lifestyles.
2013-02-25
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Marketwatch
4 questions to ask before downsizing your home
The leading edge of boomers are now between 57 and 67 years old. With their lifestyles changing, many are rethinking where they want to live in retirement.
2013-02-20
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CNN - Money
Healthy living: Key to a happy retirement
When it comes to retirement, good health cuts both ways. As any financial calculator will tell you, living longer actually means you'll need a bigger nest egg. But the healthier you are leading up to retirement, the easier it is to build up the savings you'll need.
2013-02-18
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Philadelphia (PA) Inquirer
The biggest move of all
And what senior milestone is likely more dreaded, more overwhelming, than the big downsize?
2013-02-16
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CNN - Money
Make your money last all through retirement
Once you determine how much of a saver you are, you have several more decisions to make -- including how to safely draw down your retirement savings.
2013-02-15
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U.S.News & World Report
How to Decide Whether to Relocate in Retirement
When selecting a new place to retire, here are some things to look for:
2013-02-15
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FoxBusiness.com - Personal Finance
Financial Planning for Newly-Single Boomers
Baby boomers turned empty-nesters are increasingly filing for divorce as they find themselves no longer happy with the partner they have spent so many years with. ... For new baby-boomer empty nesters, the divorce rate has doubled over the past two decades with 1 in 4 now getting divorced.
2013-02-14
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Business Insider
Baby Boomers Aren't Sold On Retirement Communities
Time was when retirement meant a move to a community where all your neighbors belonged to the same generation: Old. No more. As baby boomers begin to retire, they're going their own way -- or ways -- when it comes to housing choices and relocation strategies.
2013-02-09
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FoxBusiness.com - Personal Finance
Boomers Shouldn’t Jump the Gun When it Comes to Downsizing
It is safe to say that most baby boomers and empty nesters assume that downsizing their homes will also reduce their cost of living and pad their retirement savings. After all, the name implies a drop; but experts warn this might not be true. Read more: http://www.foxbusiness.com/personal-finance/2013/02/07/boomers-shouldnt-jump-gun-when-it-comes-to-downsizing/#ixzz2LBoVEZ6C
2013-02-07
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Senior Living Facilities
Comprehensive Listing of leading senior living facilities for people 62 and older. Includes Independent Living, Continuing Care Retirement Communities (CCRC) & Life Care Retirement Communities (LCRC) as well as assisted living, long-term care, skilled nuring and memory care.
2013
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55 and Older Active Adult Retirement Communities
Comprehensive Listing of active adult retirement communities.
2013
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U.S. News & World Report
7 Ways to Retire with $1 Million
Many workers will be able to accumulate $1 million over the course of their career if they save consistently beginning at a young age, invest prudently, and avoid withdrawing money early. Here's what it takes to become a millionaire by retirement:
2012-07-30
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USA Today
Working until 70 could ease retirement finances
Many Baby Boomers head to work each day and wonder,
2012-07-04
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Tucson (AZ) KVOA
Staying active and working past retirement
Studies have shown that working past retirement leads to more social contact and activity, meaning less chance of getting diseases.
2012-06-21
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Boston (MA) WBZNewsRadio
Will You Have Enough Money To Last Through Retirement?
Will you have enough money? Money plays a very big role in retirement planning. ... Most retirees can get by on 80% or less of their pre-retirement income. Most.
2012-06-20
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Christian Science Monitor
Retirement: 3 ways to enrich it without adding money
Retirement planning is about more than saving money. It's about what you're going to do. Here are three ways to stay active in retirement.
2012-05-29
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CNN - Money
'What's a realistic retirement age?'
The answer depends on how successful you've been at saving, how cushy a lifestyle you would like to have and, of course, when you prefer to disengage.
2012-05-25
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Time Magazine - Money
Retirees Taking Early Social Security Benefits Hits 35-Year Low
Boomers have got the message: For most people, it makes sense to delay Social Security benefits to age 70 if possible. More made the choice to delay in 2011 than at any time since 1976. Here's how you can afford to wait too.
2012-05-23
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U.S.News & World Report
10 Ways to Pay for Retirement
Workers tend to get the bulk of their income from a single job. In retirement, you're much more likely to have a variety of sources of income, including Social Security, a 401(k) or IRA, and other savings or investments. Here are 10 of the most common ways to pay for retirement:
2012-05-14
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U.S. News & World Report
The New Ideal Retirement Age: 67
The age the typical worker expects to retire is no longer 65. For the first time this year, Americans expect to retire at an average age of 67, up from 66 in 2011, according to a recent Gallup poll of 1,016 adults. The average expected retirement age and been gradually increasing over the past seventeen years from age 60 in 1995 to 64 in 2005.
2012-05-08
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Time Magazine - Money
6 Myths About Saving for Retirement
With just 14% of workers saying they are confident in their retirement plan, it's time for most of us to kick saving into high gear. It's doable if you can get past these 6 myths about saving.
2012-04-03
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New York Times (NY) - Health
Divorce Rates Among Boomers to Reshape Old Age
The Times reports this morning that a growing number of men and women in their 50s and 60s are opting out of marriage and venturing into old age on their own. The surge has been driven by several factors, including longevity, economics and evolving social mores, according to sociologists.
2012-03-02
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Forbes
Easing the Burden of Retiring Single
Retirement is often depicted as an idyllic time when couples take long walks on the beach, watch their grandchildren graduate from college, and care for each other well into their golden years. Yet, it’s estimated that more than 43% of all US residents are single, with more than 30 million Americans over the age 55 holding that distinction. Single people face unique planning challenges because they are solely responsible for their financial security as well as their emotional well-being throughout their retirement.
2012-02-29
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Cape Cod (MA) Times
Downsizing does not have to be a downer
As the population in the United States ages and the Baby Boomer generation begins to hit retirement, more and more people are feeling the urge or the need to downsize. When you add in the fact that a lot of those contemplating retirement also took a big hit in their investment portfolios in recent years, moving into smaller and more affordable housing just plain makes sense.
2012-02-15
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Forbes
Why You Might Need Less Retirement Income Than You Think
You’ve heard the cliché. It’s not what you earn, it’s what you spend. Usually, it’s invoked during discussions of making ends meet on a paycheck. But a new study shows that it’s key to understanding what you’ll need in retirement too.
2012-02-14
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Washington (DC) Post
Talk with your spouse now about retirement plans
Last year, Fidelity Investments conducted a survey to find out whether couples are talking with each other about how they see their retirement years. For the most part, the surveyed couples who were approaching retirement or already retired weren’t communicating well.
2012-02-11
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Melbourne (FL) Florida Today
No detail too minor when looking at assisted-living facilities
More than 900,000 Americans live in about 39,500 assisted-living facilities, according to estimates, but there is no federal oversight of the industry. Each state sets its own definition of assisted living and decides what licensing procedures and inspections are required. More than 26 designations are used to refer to what is commonly known as assisted living, including residential care, board and care, adult home and retirement residence.
2012-02-08
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U.S.News & World Report
The Growing Challenge of Funding Retirement
The rules for retirement have changed over the past generation. Individuals must now take more personal responsibility for their retirement finances, as life expectancies increase and job security declines.
2012-02-01
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Pasadena (CA) Star-News
Planning for retirement? Consider relocation
Among all the financial decisions you might make while planning for retirement, where you choose to live can be among the most important.
2012-01-16
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DelawareOnline
Decline in Boomer golfers squeezes retirement meccas
Golf resort communities are bleeding money and members, as the recession exposed the vulnerability of the business model that created an unbreakable linkage between golf and real estate.
2012-01-16
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Naples (FL) News
Retirement communities adjust as market makes it tough for seniors to sell homes
To overcome the problems, retirement communities began offering real estate concierge services to prospective clients. ... All in all, the marketing options which retirement communities have adopted to survive the recession and beyond are working.
2012-01-16
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U.S. News & World Report
Great Ideas for Senior-Friendly Communities
For years, consumer surveys have reported that most people want to live right where they already are as they get older. .... As attractive as the idea of aging in place may be, progress in creating a nationwide movement in this direction has been slow and uneven.
2012-01-12
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Time Magazine - Money
Unable to Work, Retirees Move in with Kids and Find it’s not So Bad
Bunching family under one roof isn’t the Holy Grail of retirement. But for those with few choices at least it’s an answer with some unexpected benefits.
2012-01-11
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Senior Housing News
Top 10 Trends in Senior Housing for 2012
Adaptability is one of the cornerstones of human evolution. ... we enter a new chapter that allows the senior housing industry to adapt to the the influence of politics, economics and society.
2012-01-09
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Omaha (NE) World-Herald
Aiding the move of a lifetime
From cleaning out dresser drawers to organizing estate sales to helping to decorate a new apartment, senior move managers take the lead on work that often leads to stress and family squabbles.
2012-01-08
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Oklahoma City (OK) Oklahoman
Smart Moves: Finding top retirement property takes research
Are you soon heading into retirement and plan to move to a distant location? If so, Ronald Phipps, a seasoned real estate broker, suggests you view any destination you're considering through a wide-angle lens. Read more: http://newsok.com/smart-moves-finding-top-retirement-property-takes-research/article/3637730#ixzz1inXlU5ax
2012-01-07
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Fenton (MO) Tri-County Times
Aging gracefully… How to plan for your future as you age
Aging is a time of adaptation and change, and planning for these changes will help ensure you can continue to thrive and maintain your independence for as long as possible. ... When planning ahead, consider the needs you might have in the future:
2012-01-06
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U.S.News & World Report
8 Steps for Building Solid Estate Plans
Combine a lackluster economy that continues to disappoint, mix in investment volatility and uncertainty, and garnish with the disappearance of trillions of dollars in home values. Voilà! You have just mixed together the ingredients for estate litigation and intrafamily feuding.
2012-01-05
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Bangor (ME) Daily News
Long Term Care Coverage
Long term care (LTC) insurance is valuable to people who have money or a home that they would rather not give to a nursing home.
2012-01-04
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Time Magazine - Money
Retiring This Year? Plan Your Time, Not Just Your Money
If you’re planning to retire this year, start putting your finances in order now. That’s a given. But retirement isn’t just about money. It’s about how you will spend your time. So you might also start thinking hard about what you’ll do next.
2012-01-03
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Wall Street Journal
Retiring in 2012? Read This Today.
For some, 2012 will be much more than just another year. It will be the year that, after decades of punching the clock, they'll join the ranks of the retired. Before making that final commute to work, however, those retiring this year should make a to-do list. There are important aspects of retirement to prepare for and steps that can make the transition smoother both financially and emotionally. Here are five things to do now.
2012-01-01
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U.S.News & World Report
5 Common Retirement Misconceptions
Retirement is the brass ring that you have dreamed about since you entered the workforce. ... But what we think retirement might be like may be quite different from the truth.
2011-12-30
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Time Magazine - Money
5 Myths About Retirement Homes
Developers have made great strides in recent years, presenting seniors with vastly more appealing alternatives than the traditional nursing home. Still, misconceptions about retirement villages abound and may lead boomers—acting on their own behalf or for an aging parent—to dismiss these living quarters out of hand.
2011-12-30
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Smart Money Magazine
Some Long-Term-Care Insurance Is Better Than None
The best is the enemy of the good. Or so said Voltaire, the French philosopher. I could be wrong, but...I think he was talking about long-term-care insurance -- and how to fix what is probably the biggest hole in your plans for retirement.
2011-12-28
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Wall Street Journal
When Divorce Unravels Your Retirement Plans
Whatever its other benefits, divorcing later in life is one of the worst financial moves you can make. ... it is critical for a couple to understand the financial consequences before they untie the knot.
2011-12-24
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San Francisco (CA) Chronicle
Retirement Planning In A Changing World
Indeed, the traditional retirement - leaving work at 65, moving somewhere warm and spending your golden years winding down - is quickly becoming a thing of the past.
2011-12-13
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Columbus (IN) Republic
Retire to smarter spending: 9 tips for greater savings, more satisfying spending in retirement
Seniors have to stretch savings over as much as three decades, face steep health care costs and have few ways to make up for any shortfall. For most, savvy spending habits are simply a must.
2011-12-13
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FoxBusiness.com
Parents to Boomerang Kids: Your Allowance or My Retirement?
The bottom line is, yes, you want to be emotionally--and to some extent, financially--supportive of an adult child who is sincerely stymied in terms of finding employment in the current lousy economy. At the same time, it’s not healthy for either party if you make the conditions too cushy because that doesn’t create financially-responsible adults.
2011-12-12
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Wall Street Journal
Heiring Grievances
If you're a parent with multiple heirs, here is a bit of advice from estate-planning professionals: Before making any decisions about who gets what, think carefully about the emotional legacy you want to leave behind.
2011-12-12
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Christian Science Monitor
Retirement planning: what to do once you get there. A review.
Retirement planning isn't just about getting there. 'How to Retire Happy, Wild, and Free' offers help on retirement planning once you get there.
2011-12-10
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U.S. News & World Report
How to Decide Where to Retire
One of the most important retirement decisions we will make is deciding where to live. We must decide whether we want to retire in place or relocate to a more exotic locale. Some people downsize, transition from a house to a condo, or move to a retirement community upon retirement, while others just make some changes to their existing homestead.
2011-12-09
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CBS News
Should you 'practice' retirement?
While the concept of practice retirement is sound ... there are two catches to this idea. ... Let's take a look at how this concept works.
2011-12-08
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USA Today - Life
Specialists in late-life downsizing on the rise
As Americans live longer, many people find themselves navigating a confusing web of interconnected services for themselves or their parents when it comes time to shed possessions and relocate.
2011-12-07
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Canada - DailyStar
Downsizing isn't an easy project
Jill Pollack, host of the HGTV show Consumed, says downsizing can be an emotional experience. Here are her tips for successful downsizing.
2011-12-03
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Raleigh (NC) WNCN
4 common mistakes people make when planning for retirement
Financial expert Pete D'Arruda discusses the four common mistakes people make when planning for retirement.
2011-11-29
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U.S. News & World Report
Make a Housing Plan for Retirement
One of the major decisions facing us as we age is where to live in our later years. Anyone over 60 who has grown children should be developing a plan for where to live when they're 75, 85, and even older. Like solid retirement investment programs, your housing plan can be torpedoed by recessions and personal reversals. The current depression in many local housing markets doesn't help, either. But without a plan, you're leaving too much to chance.
2011-11-29
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CBS News
Can knowing how long you might live change your life?
We can make conscious and informed choices about how to spend the next 30 years, without needing to satisfy someone else's expectations or not knowing ourselves very well.
2011-11-28
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New York Times
On Aging Baby Boomers, and the Question of Where to Live
The 72 million American baby boomers, born between 1946 and 1964, are turning 65 at the rate of roughly 10,000 a day, and many are considering not just how to age (with or without annuities? soy sauce? crow’s feet?), but also where.
2011-11-23
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U.S. News & World Report
How to Downsize Your Possessions
Experts say downsizing requires the same type of careful planning and execution as a retirement plan. Because most downsizing efforts are tied to the sale of a home, it is wise to begin the downsizing process as much as a year before you sell your home.
2011-11-22
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Wall Street Journal
For Retirees, a Budget Is a Must
Tightening your belt and living within a strict budget is never easy or fun. But for many retirees, it's a fact of life. How best to find wiggle room in your finances? Making some tough decisions with housing can help significantly. But there also are pieces of low-hanging fruit that can go a long way toward stretching your dollars. The more you focus on big or recurring bills, the better.
2011-11-06
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Sacramento (CA) Bee
Long-term care -- many don't give it a thought until too late
Recent studies show that much of the aging public remains in denial about the potential need for long-term care, which could wreak financial havoc on the baby boom generation's retirement years.
2011-10-10
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Tucson (AZ) - KVOA
Senior Style: Should You Delay Retirement?
There are several factors that should be considered when planning when and where you retire. These include: expected lifespan, health, desired lifestyle, income and expenses, savings and investments, and emotional readiness. Here's an overview of each factor:
2011-09-29
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Smart Money Magazine
The Case for Downsizing Your Home
A lot of boomers want to wait til the housing market improves before downsizing, but the savings of a smaller home make long-term sense.
2011-09-22
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Forbes
Hidden Truths About Long Term Care Insurance
Should you or shouldn’t you? Seems as if someone is always promoting the purchase of long term care insurance.
2011-09-16
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Lakeland (FL) Ledger
Retirees Look After Social Needs in Living Arrangements
One of the biggest challenges of relocating after retirement is making new acquaintances. ... While some people want to move closer to friends after retirement, others try to coordinate a plan ahead of time to move together to a new location — a different home in the same town, another town in the same area, a new community thousands of miles away.
2011-09-16
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Smart Money Magazine
Can Empty Nesters Still Afford to Splurge?
When their kids strike out on their own, many boomer parents seize the chance to splurge on themselves. Are they putting their retirement at risk?
2011-09-15
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New York Times (NY) - Business
The Company You Keep
ONE of the biggest challenges of relocating after retirement is making new acquaintances. ... While some people want to move closer to friends after retirement, others try to coordinate a plan ahead of time to move together to a new location — a different home in the same town, another town in the same area, a new community thousands of miles away. ...
2011-09-15
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Forbes
Are You on Track to Retirement?
According to our research, a majority of employees across all age groups and income brackets have never run even a basic retirement projection to see if they’re saving enough to reach their goals. In fact, many aren’t even sure what their goals are. Defining those goals and what retirement means to you is a good place to start. After all, it’s hard to know whether you’re on track if you don’t know where you’re going.
2011-09-14
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CNN - Money
Live well on less: 6 ways to save in retirement
Whether you're already retired or just starting to plan for your post-work life, you should find these six strategies for living well on less instructive -- and the stories of the people behind them inspiring.
2011-09-12
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Memphis (TN) Daily News
Find Real Cost of Retirement Communities
As the Boomer generation ages, more and more retirement communities are in development. They are an attractive option to many, with choices ranging from permanent cruise living to college-based communities to developments with traditional apartment amenities. But before you start packing, there’s a lot you need to investigate to protect your physical, mental and financial future.
2011-09-08
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Wall Street Journal
Family Feuds: The Battles Over Retirement Accounts
Stock-market turmoil once again has Americans worrying about their 401(k)s and individual retirement accounts. But families can be blindsided by another aspect of these accounts: confusing rules about who is entitled to the assets in circumstances such as the account holder's death.
2011-09-06
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Forbes
5 Retirement Strategies that No Longer Work
We certainly can’t prepare for every possible scenario but here are five scenarios to consider making contingency plans for in retirement:
2011-09-01
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U.S. News & World Report
The 10 Most Difficult Retirement Decisions
Before leaving your job, you’ll need to make these tough choices
2011-08-29
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Senior Housing News
Home Health Care 75% Cheaper than Nursing Home Care
Around 73% of surveyed seniors and their families who receive paid home care found it to be at a good value and were satisfied with their care; the actual average per-hour cost they pay is $17.10 an hour.
2011-08-21
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U.S. News & World Report
Learn to Live on Less and Retire Sooner
The less you spend now, the less you’ll need during retirement to cover your bills. And the more you save, the quicker you can leave the workforce behind.
2011-08-19
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U.S. News & World Report
Why You Should Take a Retirement Test Drive
It was an enjoyable and educational 18 months I spent practicing to be retired. I know that I am not ready to retire today. But my test drive gave me a better idea of what I can do now to better prepare for my retirement.
2011-08-19
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Great Falls (MT) Tribune
Plan for the long haul when replacing your empty nest
Once upon a time your house was a hive of domesticity where you tirelessly tackled the daily demands of homeownership. Now the kids are gone. It's time to downsize. ... You can choose from traditional condos or apartments, 55-and-over communities, retirement living abroad and even
2011-08-19
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Richmond (VA) Times-Dispatch
Mapping retirement plans as a couple
When you envision your retirement, what does it look like? Are you playing golf? Traveling the world? Sitting in a recliner in front of the umpteenth season of
2011-08-18
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U.S. News & World Report
9 Tips for Picking an Affordable Place to Retire
Many people are interested in saving money by moving to a place with a lower cost of living than where they currently live. But you also need to make sure there are enough amenities and services to support you as you age. Here are some tips for selecting an ideal retirement locale.
2011-08-18
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Columbus (IN) Republic
End-of-life plans can't wait until the end for discussion
For millions of baby boomers and their parents, this conversation is the elephant in the room. And in today's volatile political and financial landscape, experts say, frank discussions between the generations about money, health care and other end-of-life issues are all the more crucial.
2011-08-15
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U.S. News & World Report
One Move Could Boost Your Retirement Security
Many people who haven't saved enough to retire comfortably are contemplating working longer. But if delaying retirement isn't an option, there is another way homeowners can give their nest egg a quick and significant boost.
2011-08-15
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Forbes
7 Tips For A Better Retirement
Retirement can be the time of your life or the time of unfulfilled dreams. Having adequate resources can make the difference.
2011-08-11
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Forbes
Are You Ready to Retire?
You’ve been contributing diligently to your retirement accounts for years with the dream of being able to travel the world or just spend more time with your family. As you approach that magic date, those dreams may now seem shattered with the recent market downturn. Will you still be able to retire or should you work longer and save more? That’s a question we’ve been getting quite a bit lately. Here are some considerations to help you answer that big question:
2011-08-10
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Fox Business
How to Detect and Prevent Elderly Financial Abuse
Tragically, some nefarious souls take economic advantage of older relatives who are in compromised physical, emotional or mental positions. Whether you're a senior citizen or have one in your life, it is important to know what financial elderly abuse is all about, and how you can prevent and recover from it.
2011-08-05
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Detroit (MI) Free Press
Susan Tompor: Baby boomers shouldn't splurge with inherited IRA money
As baby boomers lose their parents, many are not dealing with just unloading the coin collection, the boxes of unused yarn and the old power tools. They're inheriting Individual Retirement Accounts. What do you do with that extra $25,000 or $250,000?
2011-08-03
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Tucson (AZ) - KVOA
Senior Style: Today's retirees have plenty of options
Not only are they returing from careers, but they are looking to escape from the demands of traditional homeownership, and are looking at a number of [Housing] options.
2011-07-31
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Toronto (ON) Globe And Mail
Eight tough retirement decisions
For past generations, planning for retirement was a relatively simple process. When someone reached retirement age, they threw a party, turned the job over to someone else and went home to live on their company pension. Retirement planning nowadays is a radically different proposition that involves asset allocation, retirement plan rollovers, transfers and distributions and a series of life choices. There are several tough decisions that most people must make when they stop working. The most difficult of these choices includes:
2011-07-26
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Pasadena (CA) KPCC
Aging Baby Boomers bring changes to funeral industry
The first of America's 70 million or so “Baby Boomers” turn 65 this year. That’s a lot of people heading into their “golden years.” They’ve changed the way we look at love, sex, work – and death. That last one means big changes in the funeral industry.
2011-07-21
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U.S. News & World Report
Baby Boomers Changing Retirement Expectations
Retirement once meant completely leaving behind the workforce. But older workers are in the process of recharacterizing what it means to be retired. Most older workers (54 percent) now view retirement as an opportunity for a whole new chapter in life, according to a new Harris Interactive survey of 1,001 people age 55 and older commissioned by SunAmerica Financial Group and Age Wave. When the same question was asked a decade ago in 2001, many people viewed retirement as a continuance of what life was (40 percent) or a winding down of life (22 percent).
2011-07-15
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USA Today - Your Life
Aging boomers strain cities built for the young
America's cities are beginning to grapple with a fact of life: People are getting old, fast, and they're doing it in communities designed for the sprightly.
2011-07-09
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U.S. News & World Report
5 Surprise Retirement Costs
You may be able to reduce or eliminate some expenses when you retire including your mortgage, commuting costs, and office attire. But you are also likely to encounter new costs in retirement that you may be unprepared for. Here are five expenses that may appear suddenly or significantly increase from their current levels in retirement.
2011-06-28
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U.S. News & World Report
When Downsizing, Renting Often Beats Buying
One of the financial cornerstones of many successful retirements is paying off mortgage debt before leaving the workforce. Life on a fixed income is a lot easier if you're not making that big payment every month to a bank or other home lender. ... Still, many people with mortgages seek to sell their homes and live mortgage-free in a smaller, less expensive home during their retirement years. If this transition might be in your future, it makes sense to carefully consider whether you should buy or rent your new home. Renting looks better than you might think.
2011-06-20
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Australia - The Sydney Morning Herald
An enriched retirement
Having a paid job in your latter years can keep you healthy and financially secure, writes Barbara Drury. ... Money is not the only reason people choose to stay engaged with the workforce.
2011-06-15
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Met Life
Caregiving Costs Americans $3 Trillion In Lost Wages, Pension And Social Security Benefits
Americans who provide care for their aging parents lose an estimated three trillion dollars in wages, pension and Social Security benefits when they take time off to do so, according to “The MetLife Study of Caregiving Costs to Working Caregivers: Double Jeopardy for Baby Boomers Caring for Their Parents”.
2011-06-14
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Indianapolis (IN) WTHR
Baby boomers planning ahead for senior years
Americans are living longer, and that makes planning for the future more important than ever.
2011-06-14
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Fox Business
Top 10 Reasons Boomers Delay Retirement
There's no question -- people in the United States are waiting longer to retire. Whether it's because they're motivated to stay active in a career, want to make a difference in the world or struggling with skyrocketing bills, 46% of U.S. employees over 50 now say they plan to work longer than they once expected.
2011-05-27
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U.S. News & World Report
4 Expenses You Can Cut by Retiring Overseas
There are ways to reduce that part of your budget significantly. Instead of spending the majority of your monthly income on necessities, you may be able to get that amount down to less than 50 percent by retiring in another country. Here are four costs you will be able to significantly cut by retiring abroad.
2011-05-25
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U.S. News & World Report
7 Ways to Stay Ahead of Inflation in Retirement
Inflation will gradually erode the purchasing power of your nest egg in retirement. But there are many steps you can take to help your retirement savings keep pace with the rising cost of living. Here are seven strategies to stay ahead of inflation in retirement:
2011-05-09
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U.S. News & World Report
6 Ways to Plan for Your Later Years
Coming to terms with the realities of your later years can be one of the toughest challenges of aging. America is geared to youth and even acknowledging the inevitability of aging may be considered a form of cultural disloyalty. ... Here are some of the key planning needs that nearly everyone will face as they age and retire. Some are practical and financial; others are very subjective but no less important. In every case, the sooner you begin to build these plans, the better off you'll be in the future. How many of these life "boxes" have you checked off?
2011-05-09
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Wall Street Journal
Give a Retirement Community a 'Test Drive' .
Saddled with vacant units, retirement communities across the country are adding a new tactic to lure buyers: the
2011-04-30
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Los Angeles (CA) Times
Leaving money to children is not a priority for baby boomers
A survey released Tuesday shows only 49% of wealthy parents say it’s important to leave money to their children when they die. Instead, many people plan to use their savings for travel and to focus on personal relationships, according to the study by U.S. Trust, a unit of Bank of America Corp.
2011-04-19
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Forbes
The Best Retirement Places
Lists of best places to retire are a popular mainstay of personal finance journalism. Here at Forbes we’ve published our share, producing rosters focusing on favored locations for retirees seeking an active lifestyle, a foreign residence and even, in the U.S., an urban neighborhood. As part of the new Forbes 2011 Retirement Guide, our latest offering–The Best Retirement Places–considers a wide range of factors but focuses especially on two bottom-line issues–tax burden and cost of living. That’s why you won’t see any locations in the highest-tax, highest-cost states like California, New Jersey, New York and Connecticut.
2011-03-23
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U.S. News & World Report
4 Ways Your Home Can Pay You
Despite being financially stressed and worried about retirement, homeowners, by and large, continue to see their homes as a roof over their head and not a key financial asset that may improve their retirement prospects. According to research by the Society of Actuaries, only about 20 percent of homeowners plan to use their home equity to help finance retirement. Of those who do, few have thought about tapping their home's value and simply plan to sell it to generate retirement funds.
2011-03-18
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Forbes
How to Find a Financial Planner in Six Steps, Ease Your Retirement Fears and More
A planner can develop an overall financial plan and verify if you’ve got the right mix of investments to meet your individual retirement goals and advise you on what to do if you don’t. Beyond that, when the time comes, he or she can counsel you on ways to draw down funds from your accounts when needed and help with estate-planning and tax issues or recommend a pro to handle that for you.
2011-03-16
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U.S. News & World Report
10 Reasons You Won’t be Able to Retire at 65
Workers are more pessimistic than ever before about their retirement prospects. ... But this pessimism about retirement could also be viewed as the first time employees have realistically assessed their retirement preparedness. ... Here is why you probably won’t be able to retire at age 65.
2011-03-15
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Fox Business
Social Security: It’s All in the Details, Boomers
Deciding when to start receiving Social Security benefits is one of the most critical decisions a retiree can make.
2011-02-28
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U.S. News & World Report
9 Secrets of Retirement Happiness
A large nest egg doesn't guarantee a happy retirement. While a significant retirement income is likely to make you happier than just scraping by, money isn't the only necessity. Here are some tips for cultivating retirement happiness:
2011-02-28
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Forbes
The Big Decision: When To Take Social Security
When should you apply for Social Security? It’s a simple question with no simple answer. In fact, coming up with the perfect answer requires you to be part actuary, part financial planner and part fortune teller. Still, you can make a better decision if you take the time to understand some of the twists in how benefits are calculated.
2011-02-15
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Austin (TX) American Statesman
Questions to ask before moving into a senior community
Find a home that fits your lifestyle now while thinking about the future.
2011-02-12
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Cape Girardeau (MO) KFVS
Growing trend: Grandparents raising children
What do you plan to do with your retirement? Golf? Travel? Raise grandchildren? Well that's a growing trend in the U.S.
2011-02-09
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Time Magazine
Preparing for Long-Term Care: Any Good Options?
A huge wave of baby boomers may need long-term care in their golden years — and yet fewer than half have taken steps to prepare for it. That's the sobering conclusion of a recently released industry study that shows two-thirds of Americans believe it's important to plan for long-term care, but only 44% have taken steps to protect themselves — and most of those steps only involve boosting their savings accounts. But while it's clear that not enough people are thinking about preparing for their long-term-care needs, it's not at all clear what, if any, the best solutions are.
2011-02-08
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Fox News - Personal Finance
10 Steps for a Worry-Free Retirement
“Can I retire?” It’s a question that Americans have been asking themselves at an increasing rate since the economy’s nosedive in 2008. Instead of second guessing yourself and your plan, take action and become educated on the necessary steps for a successful transition.
2011-02-02
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BusinessWeek
Retirement: Live Long and Don't Prosper
Confusion about the life expectancy of the Baby Boom generation bedevils fiscal planning and retirement planning.
2011-01-25
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Sioux City (IA) Journal
Boomers have a variety of senior housing options
This year marks the first year when older baby boomers reach age 65. They will flow into the world of seniordom at the rate of about 7,000 per day, according to AARP's estimates. It's a good time to consider some viable housing options available to today's seniors.
2011-01-22
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San Gabriel (CA) Valley Tribune
Downsizing your home could be an option in retirement
AS we age, our housing needs change. Perhaps you've gone through this cycle yourself: what once was a guest bedroom became a nursery, then a child's bedroom, and finally a home office. If you're an empty-nester, it may be time to consider your housing options for retirement. Now that the kids are gone, do you really need (or want) a house that has several vacant bedrooms? Will the tasks associated with taking care of the house prevent you from doing the things in retirement you've always looked forward to, like traveling?
2011-01-18
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Provo (UT) Daily Herald
How to locate and compare senior housing options
There’s a wide array of housing options available to seniors today, but what’s available to your mom will depend on her location, needs and finances. Here are some tips to help you get started.
2011-01-18
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New York (NY) Daily News
How to make your money last during retirement
Older American are finding that, when it comes to being able to retire comfortably, they're increasingly coming up short. ... What should soon-to-be-retirees do? Here are some ideas:
2011-01-17
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Fitchburgh (MA) Sentinel & Enterprise
Retirement takes planning
For many consumers the economic recovery isn't so much crawling as stalling, but now is a good time to begin planning a future that's secure. It may also mean creating a lifestyle that doesn't place money at its core, according to Consumer Reports.
2011-01-14
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Smart Money Magazine
Is Now a Good Time to Buy a Retirement Home?
Palm Beach, Hilton Head, Santa Barbara. They're some of the most coveted vacation and retirement home markets in the nation -- and like many other locales popular with retirees, they're seeing an uptick in home sales. It's a trend that's catching the attention of many soon-to-be retirees, too, who wonder if those buyers are onto something. And it begs the question: With housing prices depressed and interest rates low, should you buy a retirement home even if you're years away from living in it?
2011-01-14
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Tucson (AZ) Arizona Daily Star
Baby boomers near 65 with retirements in jeopardy
Through a combination of procrastination and bad timing, many baby boomers are facing a personal finance disaster just as they're hoping to retire. Starting in January, more than 10,000 baby boomers a day will turn 65, a pattern that will continue for the next 19 years
2010-12-27
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Wall Street Journal
Should You Pay a Relative to Take Care of Mom? .
Growing numbers of families are compensating relatives who serve as caregivers to elders. But to avoid exacerbating tensions, it is important to disclose such arrangements to the entire family. ... Feeding the trend: the high unemployment rate, the rising cost of nursing-home care, an aging population and a 2006 change in Medicaid law that makes it harder for people who wish to qualify to give away assets.
2010-12-11
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Ithaca (NY) Journal
Five tips to prepare Baby Boomers for retirement
Michael Mustico, president of Mustico Financial Group of Elmira, outlines five steps Baby Boomers who are looking toward retirement should consider:
2010-11-27
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Philadelphia (PA) Inquirer
Economy forces baby boomers to stay put
Uneasiness is keeping some aging baby boomers in their current homes, even though that's not what they had in mind. ... Boomer-watchers say this wants-to-move-but-can't generation is engaging in
2010-11-25
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U.S. News & World Report
How to Spot Bad Retirement Advice
The amount you will need for retirement has less to do with how much you earn before retirement than how much of it you spend. Without considering exactly what your retirement budget
2010-11-24
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USA Today
Long-term care insurance worries Baby Boomers
Long-term care insurance is supposed to protect seniors and their families from the soaring costs of nursing home and home-based health care. ... But the same factors that have highlighted the need for long-term care insurance — a rapidly aging population, lengthening longevity and unpredictable health care costs — have made it increasingly unprofitable for insurers.
2010-11-22
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San Diego (CA) Union-Tribune
Outfitting homes -- growing need for aging boomers
Development isn’t only about building new but fixing things that are the old and needed by older people – like homes and work places that aren’t accessible to aging Baby Boomers and others with mobility problems.
2010-11-12
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USA Today
MetLife axes long-term care insurance coverage
MetLife said Thursday that it plans to stop selling long-term care insurance at the end of December and won't sign up new customers into group plans as of next year.
2010-11-12
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U.S. News & World Report
10 Costs That Could Increase in Retirement
Many people think they'll be able to get by on a smaller budget in retirement. You will certainly be able to strike work clothes, dry cleaning, and commuting costs from your budget. But if you're not careful, you can easily end up spending more in retirement than you did during your working years. Here are 10 costs that are likely to increase in retirement.
2010-11-10
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Albany (NY) Times-Union
Baby boomers and their parents learn to move on
After a lifetime of accumulation, paring down can be tough.
2010-11-08
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U.S. News & World Report
On Retirement : 7 Ways to Select a Long-Term Care Insurance Policy
Health care costs in retirement will be significant. A sickness or injury that creates a need for long-term care can be financially devastating. This is why purchasing long-term care (LTC) insurance can be such an important part of retirement planning. When considering LTC coverage, pay particular attention to these important policy provisions.
2010-10-28
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U.S. News & World Report
7 Costs to Eliminate Before You Retire
You will be able to get by in retirement with a smaller nest egg if you eliminate as many expenses as possible before you leave the workforce, such as mortgage and credit card debt. While you're still working, you can also take care of many other expenses that are likely to crop up in retirement, including home repairs, and even taxes in some cases. Here are some expenses you should try to tackle before you retire.
2010-10-25
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Cape Cod (MA) Times
Helping aging parents with finances
Robert Mauterstock found that many clients had not discussed financial matters with their elderly parents. And they really didn't know how to, either.
2010-10-17
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Seattle (WA) Times
Books to guide you through retirement planning
Planning for retirement can prove challenging when it comes to your saving and investment options. But you may not have to look any further than a local bookstore or an online bookseller to find a useful personal-finance guide to retirement.
2010-10-16
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U.S. News & World Report
5 Major Money Issues for Seniors in 2011
... here are five big money issues that will affect seniors in 2011:
2010-10-04
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U.S. News & World Report
How to Make Your Home Age-Friendly
If you want to stay in your home as you age, take a look around and do some hard thinking about whether your home is a suitable place for you to spend your 70s and 80s (perhaps beyond).
2010-09-30
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Hilton Head (SC) Monthly
Five steps to a wise retirement
Though everyone may define their exact retirement goals a bit differently, one aim seems universal; to live independently — and comfortably — for as long as possible. Yet achieving that goal takes more than just sound financial planning — it also involves asking some rather difficult questions about your health, interests, and what form of care and assistance you may require as you age. A continuing care retirement community may be the right solution.
2010-09-29
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U.S. News & World Report
Downsize for a More Affordable Retirement
Most people think retirement planning is about saving, investments, and the timing of retirement account withdrawals and Social Security benefits. Ensuring you have sufficient income is definitely one of the most important aspects of retirement planning. But so is controlling your expenses. One way you can do that is by downsizing your current lifestyle. Here is how controlling costs can help you prepare for retirement and still enjoy a nice standard of living.
2010-08-31
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U.S. News & World Report
5 Retirement Myths
Some of the conventional wisdom about planning for retirement needs to be reexamined. As life expectancy continues to increase, we'll have to rethink what the ideal retirement age is and how big of a nest egg we need to accumulate to pay for a comfortable retirement. Here are five common retirement myths:
2010-08-30
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Forbes
Retirement Planning Simpler If You Ignore The News
Don't worry about the Dow or home sales. Instead, automate savings, stay out of debt and make sure your documents are in order.
2010-08-27
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NewJerseyNewsroom.com
Retirement communities: baby-boomers should go slowly
If you're thinking about a retirement community for your parents — or yourself — take a deep breath. Making a prudent choice depends on a lot more than finding a beautiful amenity package and getting friends' recommendations.
2010-08-27
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ABC News - Money
PersonalFinance: The Retirement Process
For most people, retirement isn't a day, it's a process.
2010-08-12
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U.S. News & World Report
How to Retire Early
If you have the foresight to start planning early and are willing to be flexible with your retirement plans.
2010-08-10
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New York Times (NY) - Business
But Will It Make You Happy?
New studies of consumption and happiness show, for instance, that people are happier when they spend money on experiences instead of material objects, when they relish what they plan to buy long before they buy it, and when they stop trying to outdo the Joneses.
2010-08-07
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U.S. News & World Report
How to Double Your Retirement Nest Egg
... if you have enough time remaining before you would like to retire, you can take a number of steps to double your net worth. Here’s how to give yourself a better chance of leaving the workforce for good.
2010-07-02
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U.S. News & World Report
Retire in the U.S.A. as Cheaply as Abroad
Many people retire abroad because of the low cost of living. But retirees that relocate to a low cost area of the U.S. can have similar expense levels to those living abroad.
2010-07-02
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MSN - Money
5 cheap places to retire in the US
An expert offers his top picks, taking costs, culture and access to medical care into consideration. Also: How you can find your own 'best place.'
2010-06-25
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Pittsburgh (PA) Post-Gazette
Learning to survive: Losing a spouse can leave many women financially vulnerable
Losing a spouse brings with it a host of issues, not the least of which is how the surviving spouse will support himself or herself financially. Elderly widows, in particular, have a higher likelihood of facing poverty as they struggle with grief.
2010-06-23
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Housing Watch
Will Senior Housing Sales Help Revive the Market?
In any given year, about 12 percent of 55-and-older households change homes, according to a study done by the MetLife Mature Market Institute with the National Association of Home Builders.
2010-06-14
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Wall Street Journal
Trading Down: Can It Still Bankroll Your Retirement?
Trading down to a smaller home is a retirement-planning staple. According to an April study by the Society of Actuaries, 20% of not-yet retirees say they plan to downsize after the last child leaves the nest. But it is getting a lot harder to do, even for wealthier people.
2010-06-12
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Dearborn (MI) Press & Guide
Independent retirement living an option
A recent AARP poll found that nearly 60 percent of Boomers say they are concerned about living independently, and more than 50 percent say they have begun to think about how they would pay for independent living assistance as they get older.
2010-06-11
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MSN - Money
Why you'll need less for retirement
Some experts understand that when you're paying for diapers and day care, it's nearly impossible to save enough for retirement. But it may not be too late to catch up.
2010-06-01
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U.S. News & World Report
The 10 Most Affordable Cities for Long-Term Care
To come up with a list of affordable places for long-term care, U.S. News compared the costs of four types of long-term care in major metro areas using Genworth Financial data: the median hourly rate for a licensed home health aide, adult day health care daily rates, assisted living facility annual rates, and the annual cost of a semi-private room in a nursing home. Here are the most inexpensive cities in which to purchase various types of long-term care. ...
2010-05-19
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Christian Science Monitor
How much should you save for retirement?
There's not one answer to suit everyone, so consider some of these factors when determining what's right for you.
2010-05-18
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U.S. News & World Report
How to Find Affordable Long-Term Care
A prolonged illness or chronic condition could end up being one of your biggest retirement expenses. Medicare pays for a maximum of 100 days of nursing home care
2010-05-17
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Forbes
Seven Expenses You Can Ditch In Retirement
You get to save on some significant expenses when you retire, leaving more money to do the things you want.
2010-05-14
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CNN - Money Magazine
60 years old and no retirement savings
Clearly, you're not going to be able to accumulate an entire career's worth of savings in the number of working years you have left. But even at your age, you can still build a nest egg large enough to make a material difference in your retirement lifestyle. ...
2010-05-13
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MSN - Money
55 and haven't saved a dime? Yikes
No doubt about it: Your late start on building a retirement is going to cost you. But don't panic. You still have these 10 options for padding your golden years.
2010-05-11
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U.S. News & World Report
The 10 Biggest Sources of Retirement Income
Working Americans tend to have one major source of income: their job. But once you retire, your income is likely to come from several different sources, including retirement account withdrawals, monthly Social Security payments, and increasingly, a part-time job. Here are the 10 biggest sources of retirement income.
2010-05-10
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ABC News - Good Morning America
You're Retired, Now What?
Financial Contributor Mellody Hobson Gives Retirees Expert Advice: Nearly everyone dreams about all the things they're going to do when they retire. But not too many people dream about what they're going to do with their money during that time.
2010-04-26
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Wall Street Journal
Reverse Mortgages Now Look Cheaper
Reverse mortgages have long been considered one of the most expensive ways to extract cash from your house. But that is changing as some of the country's biggest reverse-mortgage lenders are slicing closing costs—helping even some affluent homeowners who want to generate additional income.
2010-04-17
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Kansas City (MO) InfoZine
Successful Retirement Planning Begins with Your Health
Everyone knows it’s a good idea to put away a little money each month to save for retirement, even in tough economic times like this. ... But all the money in the world won’t make your retirement years golden if you haven’t got good health. Acting now to save your health may be an even better investment for a happy retirement than saving large sums of money.
2010-04-16
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Redding (CA) Record Searchlight
Senior Living: Have you had the talk with parents?
Many people find it uncomfortable to talk about the inevitability of failing health or death with their family members. Perhaps you are the daughter or son who feels it may be disrespectful to bring up the topic to Mom and Dad. Or you may be a parent and want to spare your kids from envisioning the time when you will not be strong enough to make decisions on your own. Don’t wait for the perfect time, because there is no perfect time. Things can change suddenly, and if you don’t know your family member’s wishes, location of documents and other vital information, it will be much more difficult to manage in a crisis situation.
2010-04-14
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CNN - Money Magazine
Your toughest retirement puzzle: Long-term care
Ask someone why he or she bought a long-term-care insurance policy and you will probably hear a story about family. Often a sad or scary story. ... The high cost of insurance is one of the challenges anyone faces in thinking about how to pay for long-term care. The risk that you will need nursing-home care or a home health aide is certainly real. About 70% of seniors eventually need help, and nursing homes (the most intensive kind of care) can cost $200 to $300 or more a day. ...
2010-04-07
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U.S. News & World Report
7 Retirement Risks You Need to Prepare For
There are many things that could go wrong with even a carefully planned retirement. Inflation, running out of money, and future stock market slumps are possibilities that all retirement savers need to prepare for. A recent Society of Actuaries survey of 804 people ages 45 to 80 identified older American’s greatest retirement concerns. Here is how to make sure these common retirement worries don’t become your reality.
2010-04-02
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Pioneer Press (IL)
Seniors: plan ahead to avoid costly disasters
Planning ahead can make a big difference for older adults. A recent article in AARP magazine highlighted the reality of long-term care costs and the devastating effect it can have on a family. ... Another option is a Continuing Care Retirement Community which provides Full Life Care. ...
2010-04-01
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McKnight's Long-Term Care News
Retirees face average of $250,000 in medical bills during retirement
Married seniors planning to retire this year may face $250,000 in medical bill over the course of their retirement. That does not include long-term care or nursing home costs, according to a study by Fidelity Investments.
2010-03-26
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ABC - Money
Avoid Retirement Poverty
A whole lot of Americans could be looking at a choice between working into their old age and living a life of poverty in retirement. That's about the only conclusion I can draw from a recent survey that indicates more than half of all American workers have saved little or nothing for retirement.
2010-03-23
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U.S. News & World Report
21 Ways to Cut Expenses in Retirement
Few Americans are saving enough to finance a retirement that could last 30 years or more. Workers who haven't accumulated enough to maintain their current standard of living have two choices: delay retirement or learn to live on less money. Those willing to put in a little effort to downsize big and small expenses may be able to get by just fine with a smaller retirement stash. Here are some frugal strategies retirees can employ to stretch their nest eggs:
2010-03-15
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Wall Street Journal
How to Salvage Your Retirement
Is it too late to save your retirement? ... if you are still working, you can do something to save yourself. If this is you, what can you do?
2010-03-12
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MarketWatch
The top 10 places to retire - Plus two bonus towns for you to consider
Where do you want to live in retirement? Most folks age in place. But there are those who spend their golden years in dreamy locales. Where are those places?
2010-02-25
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BusinessWeek
Fifteen Ways to Slash Spending in Retirement
Retirees must adjust to new economic realities. Here, based on suggestions from financial advisers, are strategies to cut costs.
2010-02-04
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Salisbury (NC) Post
Ten steps to a good retirement
Keep yourself healthy, happy and financially sound. ... The 10 items in the list are the things that have helped us be part of our community.
2010-01-26
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U.S. News & World Report
Now is the Time for Senior Housing Decision
If you've been thinking about making a move into retirement housing, now is a great time to get serious about the decision. Whether you want to live independently in a retirement community, need an assisted living facility, or want more extensive support in a nursing home, it's a buyer's market today. The recession has forced even high-end communities to offer wide-ranging discounts and inducements to attract residents. At the same time, this softness won't last forever. And when conditions improve, the pent-up consumer demand will reveal serious shortages of high-quality senior housing.
2010-01-13
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U.S. News & World Report
The 4 Biggest Sources of Retirement Income
Americans age 65 and older receive most of their income from four sources: employment, Social Security, pensions, and asset returns, according to a recent Congressional Research Service report. The prevalence of each of these types of income
2010-01-12
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U.S. News & World Report
8 Retirement Gift Ideas
As the oldest baby boomers begin to retire, you may want to honor some of these retiring colleagues with a retirement gift. U.S. News asked a cross section of business etiquette experts how to appropriately recognize a coworker’s retirement. Here are eight gift ideas to get you started.
2010-01-11
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U.S. News & World Report
6 Problems with Retirement Planning Software
Financial planning software can be a useful tool to create a retirement savings plan. But many computer programs fail to adequately account for several major retirement risks, according to a new review of 12 financial planning computer programs commonly used by consumers and financial professionals by the Society of Actuaries and the Actuarial Foundation.
2010-01-06
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Ottawa (Canada) Citizen
Baby boomers financially burdened by aging parents, adult kids
The champagne wishes and caviar dreams of baby boomers are being put on hold as they deal with the dual financial burden of supporting aging parents and adult children, according to results of a new poll.
2010-01-05
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Time Magazine
The Five Big Questions About Retirement
Each day this week TIME will present one of the five big questions about retirement — and will answer each question fully,
2010-01-04
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Time Magazine
Where Should I Live in Retirement?
If you're thinking about picking up the stakes and relocating in your retirement years, it's never too early to start planning. Moving touches every part of your life, and not all aspects are for the better. You'll want to weigh the benefits and pitfalls of each potential new location and choose one that strikes the right balance for you. There is no absolute Shangri-la.
2010-01-04
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U.S. News & World Report
The Best Life - Your Guide to Social Security, Part Three
Understanding how Social Security works should be an essential part of your thinking as you plan for your later years. Those were the years we used to call retirement. Now, as the recession moves into its third year, they may be the years when you contemplate continuing to work. And as you labor, you may wonder what ever happened to your retirement dreams.
2009-12-31
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U.S. News & World Report
The Best Life - Your Guide to Social Security, Part Two
Here is the second of three columns explaining how Social Security benefits are determined, and how they are affected by changing wage and inflation levels.
2009-12-30
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U.S. News & World Report
The Best Life - Your Guide to Social Security, Part One
Social Security is our most important retirement benefit. Never intended as a source of primary retirement income
2009-12-29
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Atlanta (GA) Journal-Constitution
Moving in to an adult active/senior living community
As they approach retirement age, many adults want to live in a community that focuses on their needs and desires. Adult active and senior living communities provide environments in which older adults can continue to live independently while enjoying amenities like golf courses, fitness centers and spas. Once you choose the right adult community, you need to know what to do in order to move in.
2009-12-17
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U.S. News & World Report
10 Reasons You Shouldn't Retire
Your 401(k), social life, and even your health could benefit from a few more years in the workforce
2009-12-14
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Newsweek
A Smaller, Kinder Way to Retire
Can't cope with the idea of a nursing home? Consider a retirement commune.
2009-12-07
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MSN - Money
How $10 could save your retirement
How much might the average strapped American be able to save? Out of a hat, I picked $10. It's a round number, and a small one, but it can add up quickly, as you'll see. ...
2009-12-07
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Palm Desert (CA) KMIR6
Will working longer hurt your retirement?
After working your fingers to the bone for what seems like an eternity, your glorious retirement years are finally on the horizon. So, do you intend to say
2009-12-04
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Forbes
Taking Over Elderly Parents' Finances
Taking over the finances of an elderly relative is tough work. Here are some pointers.
2009-12-04
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Newsweek
Mom and Dad, Can You Spare a Dime?
How some parents and grandparents are delaying retirement to help kids out of financial straits.
2009-11-30
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U.S. News & World Report
9 Ways Spending Changes in Retirement
Here's a look at how your spending is likely to change, for better and worse, after you leave the workforce.
2009-11-30
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Minneapolis-St Paul (MN) Star Tribune
Retirees wonder about home purchase: Pay cash or get loan?
Let's assume for the moment that the answers point toward owning. If that's the case, I would consider using OPM -- other people's money.
2009-11-28
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U.S. News & World Report
10 Resolutions for Retirement Readiness
Get your retirement finances in order in 2010 with these tips
2009-11-24
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Newsweek
Bankruptcies Hit Retirement Communities
The recession is hitting elderly people where they live, literally. Financial problems have been mounting at a number of assisted-living and continuing-care communities, forcing some facilities into bankruptcies and inflicting new worries on residents and their families who thought their life plans were comfortably set.
2009-11-24
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Indianapolis (IN) Star
Don't wait too long to talk about elder care
Through nearly 20 years working with the elderly, I've learned something profound. Most people don't fear dying -- they fear the aging process.
2009-11-21
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Clifton (NJ) Journal
Choosing an eldercare facility
As these people grow older, many will choose to continue living on their own or may decide to move in with family. However, some will prefer to reside with people closer to their own age or will, by necessity, need to live in a facility that can cater to their changing medical needs. What should you keep in mind if you must choose an eldercare facility for yourself or a loved one?
2009-11-20
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U.S. News & World Report
Attractive and Functional Design Solutions for Aging Homeowners
Making a home suitable for older occupants is becoming a mainstream part of the home remodeling business. Growing numbers of seniors want to remain in their homes as they age, and attractive design solutions for aging in place projects have evolved. Making such modifications not only helps current occupants but may broaden the market for future buyers when the home is placed on the market.
2009-11-19
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U.S. News & World Report
Why Long-Term Care is So Hard to Provide
Finding a better way to protect people from being forced into poverty by long-term care expenses would seem a laudable goal of health reform efforts. The difficulties in finding that better way provide just one of many lessons about why reform efforts are so hard. Long-term care is very expensive and most people will need to be cared for at some point in their lives. There is private long-term care insurance, but it's expensive and few people buy it. There is a relatively new market for group long-term care policies and while it shows some promise, its development has been hurt by the recession and cutbacks in all types of employer benefits.
2009-11-19
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Businessweek
The Case Against Retirement
Financial and demographic developments point toward Americans working into their golden years. And that's a good thing
2009-11-11
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NorthJersey.com
Relax in retirement by fixing home now
Most people 45 and older want to stay in their home as they age, says AARP. If you're among them, plan for and make your repairs now while you can still increase your income or make spending choices that allow you to pay for the repairs comfortably.
2009-11-08
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Forbes
Retirement Alert: Let The Downsizing Begin
New home buyer credit is a boon for boomers and retirees looking to move or trade down.
2009-11-06
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CNN - Money
3 steps to a better retirement
If you're behind on your retirement saving, it's not too late. These three options can help you live a better life in your golden years.
2009-11-03
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Washington Post
You're only as secure as the retirement home
Is your retirement secure? For some people who thought they had taken care of everything, the answer may be riding on another question: Is your retirement community secure?
2009-10-31
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Saratoga (NY) Saratogian
Long-term care insurance: To buy or not to buy
Baby Boomers are living longer and healthier lives than any generation in history, but in advanced years, the majority will require some type of long-term care. ... Such care already costs more than $100,000 per year and is expected to grow steadily upward. By the time people require skilled care, however, it’s too late to start planning financially. To prepare for their 80s, 90s and 100s, long-term care insurance is an option for people in their 50s and 60s to consider now.
2009-10-27
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Forbes
Why Retirement Is Bad For You
Studies show that men who retired from corporate jobs, donned their gold watches and lazed about at a resort lived measurably shorter lives than those who sought productive work (e.g., volunteering for organizations like SCORE, the Service Corps of Retired Executives). In fact, plenty of retirees who traded productive work for sunshine and early-bird dinners dropped dead surprisingly soon after making the transition.
2009-10-27
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Newsweek
Gaming Social Security
Increasingly sophisticated retirees are figuring out how to get the most out of the system. ... Conventional wisdom says that workers should hold off as long as possible before claiming their Social Security benefits. Every month they hold off until they reach age 70 means a fatter monthly check over the long term. But now, experts and some sophisticated seniors are looking deeper into the finer points of the program and finding other strategies that can optimize retirees' benefits.
2009-10-26
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CBS MoneyWatch
Retirement: The Hidden Health Risk
The study, published in the October issue of the Journal of Occupational Health Psychology of the American Psychological Association found that folks who checked out of their full-time career job and downshifted into a transitional bridge job “experience fewer major diseases and are able to function better day-to-day than people who stop working altogether.” Bridge into a job in the same field as your career and your mental health will also benefit.
2009-10-23
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U.S. News & World Report
8 Tips to Avoid Nasty Estate Surprises
Combine the worst downturn since the Great Depression, mix in a steep drop in stock prices, and garnish with the disappearance of trillions of dollars in home values. Voil à ! You have just stirred up the recipe for a surge in estate litigation and intrafamily feuding.
2009-10-23
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U.S. News & World Report
6 Steps to a Better Retirement
It's also true that millions of Americans are living successful retirements. They had stresses too, and figured out ways to overcome them. During these difficult economic times, it's important to remember some basic steps that can help people of all ages either regain or enhance their financial independence.
2009-10-16
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Smart Money Magazine
Put Off Retirement? No Way!
So don't erase that magic date from your calendar just yet. To find the best ways to adjust your retirement strategy, we polled a range of planners and experts, and consulted with retirees and soon-to-bes who are out there living their postcrash contingency plans. Below, four paths for keeping your retirement time line in line.
2009-10-16
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MarketWatch
Make your Social Security choice wisely
Many Americans take Social Security early, at age 62, because they really need it. They're in poor health or unemployed or both. Others take benefits early because they're worried they'll lose out on what's rightfully theirs if benefits are reduced. But few people try to figure out the best age to take Social Security -- and that's a serious mistake. Even though it's challenging, calculating the best time to take benefits is well worth it, especially given that Social Security represents about one-third of the average retiree's income.
2009-10-15
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U.S. News & World Report
7 Tips on Retirement Community Safeguards
Consumers living in or interested in a retirement community—particularly a newer facility—should carefully review the community's financial records and its ability to honor its service and refund commitments. Concerns have arisen in response to reports that the recession and the depressed real estate market have caused financial hardships for some institutions throughout the country.
2009-10-09
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Boston (MA) Globe
The next big real estate boondoggle
According to new report by the Boston-based National Consumer Law Foundation, questionable brokers and their sleazy subprime tactics have found a new home in the reverse mortgage business. Brokers with “perverse’’ financial incentives are aggressively selling reverse mortgages to elderly home buyers, and possibly misleading seniors in the process, the report finds.
2009-10-07
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U.S. News & World Report
The Best Life: Reverse Mortgages Ripe for Consumer Abuse?
Reverse mortgages have come under fire again, in a cautionary assessment from the National Consumer Law Center. A reverse mortgage provides money to senior homeowners in exchange for the equity in their primary residences, and allows them to continue to live in their homes as long as they wish without needing to make additional mortgage payments. Reverse mortgages are complex, can carry steep fees, and need to be carefully evaluated.
2009-10-06
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Portland (OR) KNXV
6 ways to make retirement a reality in a bad economy
The decline of the market has left many people scared and at a loss as to what to do with their investments now. ... it is time for you take back control and let go of the fear that is crippling you.
2009-10-05
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Newark (NJ) Star-Ledger
Singles approaching retirement need to plan
Single people get left out of the picture a lot when it comes to retirement. Typically it’s smiling couples who are shown contemplating their sunset years in ads, brochures and magazines. The big picture is about to change, however. Financially ready or not, a wave of single baby boomers is poised to alter the face of retirement, bringing a new set of planning priorities into focus.
2009-10-03
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U.S. News & World Report
The Risks and Rewards of Reverse Mortgages
Such loans can be a nice tool for seniors who grasp their features and drawbacks. ... A reverse mortgage is a loan, secured by a house, which gives seniors access to the equity they've built up in their home. Unlike a traditional mortgage, the loan doesn't call for borrowers to make monthly payments. Instead, they receive cash—in monthly installments, a lump sum, or a line of credit—that doesn't have to be repaid for as long as they live in that home.
2009-10-02
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U.S. News & World Report
Don't Ignore Likelihood of Long-Term Care
Most people will require professional long-term care help at some time in their lives, and it costs a bundle. Despite this demographic certainty, people continue to look the other way when it comes to how they will take care of themselves when they're old. Taking care of today's needs is hard enough, right? So, LTC insurance soldiers on as a product that most experts recommend but that is owned by well under 10 percent of the eligible population.
2009-10-01
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ABC - Money
Why Retirement Savings Should Trump College Savings
The basic reason I say retirement deserves greater emphasis is that your sons and daughters have more options when it comes to financing higher education than you do when it comes to covering living expenses in your old age.
2009-09-22
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CNN - Money Magazine
How to make your money last
There are ways to guarantee you won't run out of income, regardless of what the market does next - but you'll have to make some tradeoffs to do so.
2009-09-21
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Seattle (WA) Times
Social Security vs. annuity income
Scott Burns answers a question regarding increased Social Security income versus an annuity.
2009-09-20
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CNN - Money Magazine
4 steps to a worry-free retirement
When your retirement goals seem harder to reach, it can be tempting to load up on stocks. There's a better way. If you look at all of your resources, it's easier to find the right balance between safety and risk.
2009-09-16
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Atlanta (GA) Journal-Constitution
Helping a senior transition to a new home
It's a situation more of us will be facing in the coming years: Helping our parents move to a smaller home or a community where living on their own will be easier, or where they'll have more access to day-to-day services. Although there are many emotional issues around the senior's relocation, there are also many practical factors associated with choosing a new home, and the actual move itself.
2009-09-16
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U.S. News & World Report
Giving Up on Retirement in the Sun Belt
It’s fun to dream about retiring in a location where you will never have to shovel snow or defrost your car ever again. But don’t donate your winter coat to charity just yet. Most retirees are never able to pick up and move to the sun belt. In fact, most retirees don’t move at all. And seniors who do relocate tend to stay close to home.
2009-09-02
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Orange County (CA) Register
Would you ‘pre-buy’ your retirement home?
Many couples once they retire sell the family homestead and use the net equity to purchase a home debt free that is smaller and more suited to their new lifestyle with no work. Locking into lower housing costs at a time when they transition from salaried employment to fixed income retirement. Traditionally this exchange occurs after the last day of employment and the couple sells their home at market price and purchases their new home at market price.
2009-08-19
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Consumer Reports
Retirement planning time clock
Until someone invents a clock that helps you with your actual planning, you can use our timetable to keep your retirement plans on track.
2009-08-18
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Smart Money Magazine
10 Things Estate Planners Won't Tell You
Let’s face it: Estate planning is scary. Not only does it involve protecting your hard-earned assets but it makes you think about that most dreaded of topics—your own mortality.
2009-08-18
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Wall Street Journal
Making Seniors More Money Savvy
The poor economy tends to
2009-08-16
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Wall Street Journal
Retiring? Pay Off Your Mortgage
The collapse of the real-estate market is teaching a painful lesson to many seniors about the risks of carrying debt into retirement. Under most circumstances, any kind of debt cuts into financial flexibility for those on a fixed income. But mortgage debt is particularly insidious. It magnifies losses when home prices fall and puts seniors at risk of losing the roof over their heads.
2009-08-16
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CNN - Money
Retired at 38: Fantasy vs. reality
You may think you have enough money saved for retirement, but the younger you call it quits, the bigger stash you'll need. Here are a few things to consider first.
2009-08-11
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U.S. News & World Report
Should You Carry a Mortgage into Retirement?
A new study found most people are better off paying down the debt before they retire.
2009-08-10
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Jackson (TN) Sun
Weigh expenses, returns of long-term care insurance
Opinions vary on the practicality of buying long-term care insurance. ....
2009-08-09
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Jackson (TN) Sun
Make plans for care before illness strikes
Don't wait until it's too late to talk about long-term plans, finances and essential legal documents.
2009-08-09
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Chicago (IL) Tribune
Don't take mortgage into your retirement
It's better to pay down your mortgage than to carry it into retirement. Or at least it is if you have the money set aside in a taxable or tax-deferred account. The reasons are several but boil down to this: In the current environment, your mortgage provides a better return on your money than other risk-free assets.
2009-08-07
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CNN - Money
Can you live on less in retirement?
Maybe it’s a sign that recession really is easing: Once again we’re hearing arguments that you can save a lot less for retirement than the financial services industry would have you believe.
2009-08-07
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Morningstar
The 80% Myth
The financial services industry misleads the everyday investor by selling the notion that an 80% replacement rate of pre-retirement income is required for a successful retirement. DrH does fine on 50% of pre-retirement income. My mother and stepfather have no complaints, either. They are now in their 28th year of retirement. ...
2009-08-06
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Orange County (CA) Register
Boomers Boot Camp welcomes early retirees
During engineer Jim Kashiwada's 30 years with Raytheon, he saw what he considered a phenomenon among retirees. ... He mentored the former employees, and discovered it was hard for the retirees to live in a work-oriented society in which introductions usually involve two questions:
2009-08-05
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U.S. News & World Report
Retire Early? Maybe With These Frugal Steps
I've been spending a lot of time talking with retirees -- and younger folks already planning their retirements
2009-08-04
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CNN - Money
Can we save the retirement dream?
It looks like the end of the American retirement dream as we know it. The 77 million baby boomers who are heading into their golden years with shattered nest eggs may prove to be the first generation in modern U.S. history to have less retirement security than their predecessors.
2009-07-31
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Atlanta (GA) Journal-Constitution
Sasha and Malia Obama's Parents Have Living Wills, How About Yours?
At least young Sasha and Malia Obama won't be left guessing decades from now. For those who aren't sure where their parents' critical-illness and end-of-life wishes stand, I asked geriatric psychiatrist Ken Robbins, a Caring.com senior medical adviser, how to tackle this often charged conversation.
2009-07-30
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MSNBC - Business
The new ‘retirement’ plan: Just keep working
With their nest eggs in tatters, the stock market in the doldrums and time running out, many older Americans are resigning themselves to Plan C: simply working much later in life.
2009-07-29
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CNN - Money
Guarantee a comfortable retirement
If you're concerned that income from Social Security and pensions might not be enough to give you the retirement lifestyle you want, consider an immediate annuity.
2009-07-28
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CNN - Money
A deal on a retirement home
Some desirable retirement locales have seen price drops of up to 50%. But is buying now the right move?
2009-07-27
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ABC News - Money
Can You Still Afford to Retire? We Try 5 Financial Calculators
Last year's stock market free fall has left a lot of folks wondering whether they'll ever be able to retire. But assuming you don't want to work until you drop, is it possible to get back on track?
2009-07-26
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Chicago (IL) Tribune
7 keys to a happy retirement
Rather than sitting around doing nothing in retirement, Goldsmith said, would-be retirees should scope out what they want to do long before rolling over their 401(k) into an IRA. Yes, you will need some bare-minimum requirements in place before seeking out the next new thing in life. You'll need good health and healthy relationships with family and friends. Also, it would be nice to be wealthy enough to pursue your new career free from worry about money. But that's not essential. What is essential is this:
2009-07-26
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Gulf Breeze (FL) News
Senior living: Help with choosing a new home
Choosing a new home is always a difficult process. This task is even more challenging when choosing the right retirement and assisted living community.
2009-07-23
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New York Times (NY)
Congress Tackles Long-Term Care
Generally overlooked in the debate over health care reform, and of particular interest to New Old Age readers, is the C.L.A.S.S. Act, a bill introduced by Senator Edward M. Kennedy, Democrat of Massachusetts, that would establish a national long-term care insurance program.
2009-07-22
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Denver (CO) KMGH
Rightsizing Into Retirement Gaining Popularity
Within the past year and a half, the couple sold their Lone Tree home, cleared out the cLutter, and moved into a one-level apartment. Rightsizing into their retirement years was an easy decision and one with no regrets. ... Their new apartment is at Classic Residence By Hyatt, a senior living community that specializes in continuing care.
2009-07-19
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Palm Springs (CA) Desert Sun
Many seniors just can't afford the necessities
The UCLA Center for Health Policy recently released a report stating an estimated 500,000 seniors in California do not earn enough income to cover their basic necessities to live. ... The most at-risk group is women over 75 living alone in a rental home or apartment.
2009-07-18
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New York Times (NY)
A Safer Home for the Golden Years, Without a Golden Budget
Stay put or sell? That’s the question many older people ponder as they move into their 70s and beyond. But while home might be cozier and cheaper than a residential center, it’s not always safer. ... If you want to make your own home or an older relative or friend’s home a safer, more supportive place to live, here are basic guidelines to the most efficient and cost-effective approaches.
2009-07-17
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U.S. News & World Report
How Much Annual Income Do Retirees Have?
Most retirees get income from several places. The biggest source of retirement money for most Americans is Social Security. ... Here’s a look at the recently released Census Bureau numbers about how much money Americans age 65 and over earned annually in 2007.
2009-07-13
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Wall Street Journal
Baby Boomers to Kids: Kiss Your Inheritance Goodbye
Facing shrunken portfolios, some seniors are revising retirement plans and leaving nothing to their kids.
2009-07-10
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Dallas (TX) Morning News
Many couples diverge on retirement planning
They may have vowed to stick together in sickness or in health, but that doesn't mean married couples have talked much about their financial plans for retirement.
2009-07-09
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Cherry Hill (NJ) Courier-Post
80% of couples disagree over retirement planning
In many households, it appears, retirement is an even more contentious topic than politics, religion or whose turn it is to walk the dog. A study by Fidelity Investments found that more than 80 percent of couples disagree about a major component of their retirement planning, such as the age at which they plan to retire, whether they'll work in retirement or where they'll live after they retire.
2009-07-08
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Napa Valley (CA) Register
Uncertainty makes planning for retirement difficult
Uncertainty makes planning for retirement difficult. By understanding and preparing for uncertainty, however, we can still look forward to a future where anything is possible.
2009-07-08
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CNN - Money
Can you retire now?
If you're under full retirement age, you might want to think twice before calling it a career. Here are a few reasons why.
2009-07-07
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Philadelphia (PA) Inquirer
There's no simple formula for retirement planning
Workers nearing the end of their careers face complex issues in planning for retirement. Two of the biggest decisions are how much to plan to spend in retirement and how to maximize income through retirement programs, including Social Security.
2009-07-07
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U.S. News & World Report
5 Keys to Retiring Within 5 Years
Baby boomers can still retire if they plan for these financial challenges.
2009-07-06
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San Antonio (TX) Express-News
Viewpoint: Baby boomers can live within their means
Whether you're rapidly approaching the half-century mark or have already passed it by, here are a few financial questions you should probably be asking yourself questions such as “am I saving enough for retirement?” or “do I understand how Social Security and other retirement benefits work?”
2009-07-02
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BusinessWeek
Can You Afford to Retire?
How do you squeeze the most spending power out of limited resources and still keep that spending steady over a lifetime? By focusing on two core principles: safety and efficiency. Safety means not gambling on high-risk investments to rescue your portfolio. Efficiency means being smart about how you deploy the money you do have, for example by protecting against the risks that you will die either too young to support your spouse and children or too old, having outlived your savings. Bottom line: You never want to get into a situation where your golden years are hostage to the whims of the market.
2009-07-02
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CNN - Money
The trouble with annuities
Fixed annuities promise tax-deferred growth at guaranteed rates. But the shelter they offer can end up a trap.
2009-07-01
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Business Week
The Retirement Dilemma: Keep Working?
Americans nearing retirement have too much debt and nowhere near the savings they need to live comfortably for 20-odd years
2009-06-22
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Baltimore (MD) Sun
Retirement can be sore point for couples
It's not unusual for couples to not discuss retirement - even after last year's market meltdown - and then be surprised by each other's vision of life after work. A recent survey by Fidelity Investments, for instance, found that 82 percent of couples disagree on at least one of the retirement basics: when to retire, future lifestyle or whether to work in retirement.
2009-06-21
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Toledo (OH) Free Press
Elder care
It is never too early or too late for elder-care planning. People often think it is too early if there is not a crisis, or if a crisis has occurred, many think it is too late.
2009-06-19
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CNN - Money
You can still retire rich...really
Yes, you may have to work longer, and you definitely have to save more. But today's lower stock prices will lead to bigger gains in the long run.
2009-06-11
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MarketWatch
Honey, we need to talk
Maybe they can agree that their savings have been mauled by the worst financial crisis in decades, but many married couples agree on little else when it comes to planning for retirement, according to a survey released Wednesday.
2009-06-10
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MSN - Money
Your 5-minute guide to saving your retirement
Spend less and save more. That's what the experts advise if you're getting a late start on retirement savings. Chances are you'll also have to work longer than you expected. Don't despair and don't panic. Many Americans are in the same boat, and there are still ways to catch up.
2009-06-04
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U.S. News & World Report
Four Signs You're in Retirement Denial
Optimism is good; denial isn't. When it comes to retirement plans, the evidence is overwhelming: the recession will delay retirements for millions and reduce the standard of living of even more people who are, or were, getting near retirement.
2009-06-02
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RedOrbit.com
Men Risk Being Lonely And Isolated In Retirement
Men are planning for their financial security in retirement but not for their happiness, according to a survey revealing that more women than men plan for their health and leisure interests before they stop working.
2009-06-02
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Newark (NJ) Star-Ledger
Another retirement cost concern -- location
If the cost of retirement has you concerned, there is one solution -- move to a cheaper part of the country. Unfortunately, those areas are not the coastal, mountainous regions many love to retreat to in retirement. If you do move there, you'll face the highest costs in nursing homes, according to a recent survey by Genworth Financial.
2009-06-02
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Erie (PA) Times-News
4 ways to ease pain of retirement
Not so long ago, Americans retired debt-free. Then, somewhere along the way, that changed. ... boomers must and should make retiring debt-free, even mortgage-free, a priority. But how? Here are four suggestions:
2009-06-02
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Detroit (MI) News
Five ways to keep your retirement plan on track
Having a retirement plan is a good start, but it's important to evaluate your plan regularly.
2009-06-01
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ABC - Money
When Should You Collect Social Security?
Forget about your investments for a moment. Yes, I know, your portfolio has lost more than 30 percent in a year, but chances are there's another critical financial issue that you've spent a whole lot less time thinking about. That is when and how you will collect Social Security retirement benefits. Make the wrong choice, and you could lock yourself into 30 years of reduced income. Make the right choice, and you could more than make up for what you've lost in the past year's market turmoil.
2009-05-26
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MSN - Money
Your 5-minute guide to retirement planning
Even if you're close to retirement and haven't saved at all, late is better than never. Whether you're 30 or twice that, these 18 tips can help put your finances in order before you leave the workplace.
2009-05-25
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Sacramento (CA) Business Journal
Seniors want to age at home, but will builders adapt?
Senior advocates say 85 percent of the elderly want to remain at home as they age as opposed to moving into care facilities. Emerging technologies that are still not widely known could help them do just that.
2009-05-15
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U.S. News & World Report
5 Retirement Risks and How to Handle Them
Permanently giving up your job is risky business. You've got to worry about your investments dropping in value, outliving your money, and inflation eating away at your purchasing power. Even worse, you could develop a health problem or be forced into retirement earlier than you planned. With those issues in mind, here are five retirement risks explained, as well as strategies for managing them:
2009-05-11
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USA Today
Reverse mortgages can be costly as seniors cash in on equity
When faced with dwindling savings and mounting debt, elderly homeowners often consider a reverse mortgage for a cash infusion or to wipe out a monthly home mortgage payment. These days, some seniors also are using them to help stave off home foreclosure.
2009-05-08
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Smart Money Magazine
Nest Egg 2009: 5 Ways to Stretch Your Savings
Millions of savers are finding themselves reaching retirement with less money than they'd hoped. That may mean having to spend less, but there are ways to minimize that pain. The strategies below can help someone get more value out of a smaller nest egg.
2009-04-28
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Chicago (IL) Tribune
8 tips on paying for health care in retirement
It's difficult to predict what your health care expenses will be in retirement. ... Here are some tips on how to cope with health care expenses in retirement:
2009-04-22
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MarketWatch
You can count on it - Annuities with guarantees can be useful retirement products - but heed the risks
There's no free lunch in this world, but guarantees are the next best thing. And, given the economic crisis, it's not surprising that financial products with guarantees are growing in popularity among retirees and savers, especially those who want to ensure a minimum standard of living. But don't use these products with reckless abandon.
2009-04-22
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New York Times (NY)
Why Do We Avoid Advance Directives?
It’s startling how few Americans have advance directives, an umbrella term including living wills that state your wishes and health care proxies that designate someone to carry them out if you can’t.
2009-04-20
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U.S. News & World Report
10 Sources of Retirement Income
Most working Americans have only one source of steady income: their job. In retirement you are likely to have a patchwork quilt of several income streams. Retirement accounts, Social Security, home equity, pensions, and part-time work are the most frequently citied sources of expected retirement income, according to a Gallup poll released today. Here’s a look at ten potential sources of retirement income and how many Americans expect to rely on each one.
2009-04-20
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CBS News
A Personal Bailout Plan For Retirement
If you are in your 50s or older, and you had a lot of your 401(k) money in the stock market, you likely face a far grimmer truth: You may not be able to retire as early or as comfortably as you had planned. But there is a way out of this mess. In essence, you have to create your own personal bailout plan. It won't be fun. It involves making some serious late-stage changes to your plan, and committing to do more in the years you have remaining in your career: save more, work longer and invest more carefully.
2009-04-19
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U.S. News & World Report
10 Ways to Lower Retirement Costs
For many Americans, the recession means putting dreams on hold: it's tougher to scrape together a house down payment, find a new job, pay off debt, and retire in this economic climate. Some baby boomers are even deferring their retirement indefinitely and may work considerably longer than they originally planned. Still, there are things you can do now that will help you avoid that fate, such as downsizing your retirement expenses. Here are 10 frugal ideas to get you started:
2009-04-13
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Hackensack (NJ) NorthJersey.com
Seniors receiving help with downsizing
Concerns about selling their homes and at what price are adding to the already difficult and emotional decisions facing seniors making a lifestyle change to a retirement community.
2009-04-05
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U.S. News & World Report
The Recession Hits Retirement Communities
Many older Americans are finding that the economic meltdown has put a big crimp in their plans to move into retirement communities. Aside from cracked nest eggs, falling home prices and weak home-buying demand have also forced many seniors to stay put rather than make the transition.
2009-04-01
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New York Times (NY)
A Quest for a Home, Put on Hold
While some retirees are visiting food pantries or applying for food stamps for the first time, others are redrawing expectations about what they will be able to leave behind for heirs or charities. In the middle are the hundreds of thousands of older Americans who are sitting on homes they cannot sell, watching dividends disappear and, in many cases, putting off much-anticipated moves into retirement communities.
2009-04-01
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Wall Street Journal
How to Buy an Annuity With Your IRA
To preserve the tax deferral when using IRA assets to buy a fixed immediate annuity, you have two choices: The first is to withdraw money from the account and roll it over within 60 days to an individual retirement annuity (usually referred to as an annuity in an IRA). The other is to do a
2009-03-27
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Wall Street Journal
Mom and Dad, You're Broke
There are few more unpleasant topics for adult children and their aging parents than talking about money. But after the financial devastation of the past year, you have more reasons than ever to have that conversation. After all, the same forces that have walloped your 401(k) may also have wreaked havoc on your parents' retirement savings -- and they probably don't have years to sit tight and hope for a recovery. While you're trying to figure out how much longer you may have to work, they may need to rethink everything from their daily budget to their estate planning, and they may need your help to do so.
2009-03-25
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U.S. News & World Report
How 5 Investing Strategies Could Fare for Retirees in This Recession
Recent retirees with withered 401(k)'s have been the hardest hit by the recession. They still need growth to finance 20 or even 30 years of retirement, but they also need to protect their principal, since there’s no income from work to help recoup losses. Declining balances mean many retirees need to reevaluate their income strategy. Here are five ways retirees could alter their investments, according to a handful of money managers, along with an assessment of how your investments are likely to fare in each scenario.
2009-03-09
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U.S. News & World Report
6 Ways to Make Your Retirement Accounts Last Longer
Once you retire, you have to make sure your nest egg lasts the rest of your life. It takes shrewd calculations and a even bit of luck to fund your own 30-year retirement in the best of times. But the stock market dive has thrown the delicate balance of managing your own retirement accounts off kilter. If market losses or an unexpected expense has bruised your nest egg, here are some ways to make it last longer.
2009-03-06
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Boise (ID) KIVI-TV
5 things to consider before late-in-life marriage
When two people marry or remarry later in life, there are more items to sort through than just wedding gifts. Marriage between two people with significant histories involves important decisions concerning finances, children, assets, housing, retirement and more. Here are five topics that you will want to discuss with your potential spouse right away to ensure that your best financial interests, both as individuals and as a couple, are protected in your new union.
2009-03-05
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Chicago (IL) Tribune
Retirement communities offering discounts amid downturn
The housing bust and the recession have been twin evils for retirees, particularly the newly retired who have seen still-stock-heavy portfolios crater and their home values plummet. Retirees may see a silver lining, however: Prices on certain types of senior housing are dropping along with the rest of the real estate market, and some creative new financing vehicles are helping to ease the credit crunch for retirees and their families.
2009-03-01
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Seattle (WA) Times
Retirement: Test your financial planning IQ
The formula for a financially successful retirement used to be straightforward: Work for decades for one employer and then live happily ever after on the pension, Social Security and whatever personal savings you were able to amass. Today, with pensions vanishing and an economic crisis withering savings, it's increasingly up to individuals to take charge of their finances to fund retirements that can stretch for up to 30 years because of longer lifespans. Is your retirement IQ up to the challenge? Take the test and find out.
2009-02-27
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U.S. News & World Report
More Seniors Opting for Nontraditional Retirement Communities
Today, retirement has evolved into a complex balance of leisure, work, volunteerism, family, and travel. People still prefer to stay in their own homes as long as they're able. But those homes are likely to be anywhere these days. And the idea of remaining in comfortable homes, in familiar communities, and near family and friends has, over time, acquired the formal name of Aging in Place. As the number of people in their 60s, 70s, and 80s continue to grow at much faster rates than the overall population, you can expect Aging in Place to become a much bigger deal.
2009-02-27
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Smart Money Magazine
Retirement Guide for 60-Somethings
Workers in the final stretches toward retirement have had a rude awakening: The seemingly well-laid plans that they saved for during their working years probably won't pan out in their post-working ones. In fact, given the double-digit losses incurred in 401(k)s, as well as rising health-care costs, many fear that they won't be able to retire at all. However, there are ways to salvage your retirement. While you may not recoup all your losses or get to retire exactly as you planned, you can lessen some of the pain that’s been inflicted on your retirement savings.
2009-02-26
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U.S. News & World Report
A Dozen Tips for Older Taxpayers
Although the government's stimulus program will provide tax relief in 2009, older taxpayers won't get any breaks on their 2008 returns. And after a year of wrenching losses on investments and falling home prices, the memory of 2008 may be particularly bitter at tax time. Still, the goal remains to pay as little tax as possible, so U.S. News asked H&R Block tax expert Gil Charney, principal tax researcher at the company's Tax Institute, some of this year's commonly asked tax questions. Topics include IRAs and 401(k)s, Social Security, Medicare drugs, estate taxes, long-term care insurance, home deductions, charitable contributions and divorce.
2009-02-13
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Eureka (CA) Times-Standard
Choosing a 'retirement community'
“Continuing Care Retirement Communities” are proving to be a good option for those seniors who can afford them. ... The beauty of these communities is that residents live according to their needs, typically moving through three different levels of graduated living arrangements.
2009-02-03
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New York Times (NY)
Annuities: What You Need to Know
Annuities are a basic staple of modern portfolios, the financial equivalent of a backstop to guarantee a minimum of income in retirement. They work like an old-time corporate pension plan, paying out a regular amount of money over the course of retirement. The big difference is that amount you receive is wholly dependent on how much you put into the annuity.
2009-01-27
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Minneapolis-St Paul (MN) Star Tribune
Some senior citizens feeling 'houselocked' by economy
In the difficult market, many older people now feel trapped in their homes: They want to move into easier senior housing, but can't bear or afford to sell at depressed prices.
2009-01-25
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CNN - Money
Let your retirement money grow
If you're over 70 ½, you might have to make withdrawals from your retirement accounts. Here's where to stash your cash.
2009-01-20
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Sarasota (FL) Herald-Tribune
Boomers find it's time for a change of plans
Even before stocks and real estate began their tumble ... boomers were thinking differently than their parents or grandparents, who thought in terms of quitting work and starting retirement as an instantaneous event. In general, boomers have preferred the concept of being in a multidimensional environment where you might be able to work more than in a hobby job or in a Wal-Mart...
2009-01-11
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Denver (CO) Post
You Can Retire In A Recession
At long last, after years of toil and sacrifice, planning and saving, retirement plan contributions and stock option purchases, you have finally reached the end of the rainbow. Your retirement party was last week, and you have just rolled over your company plan over into a self-directed IRA with your broker. Then, you wake up Monday morning and realize that you have retired in the middle of a recession, with a volatile stock market, fluctuating energy prices and low interest rates. Should you go and ask for your old job back? Maybe not. There is more you can do about your predicament than you think. Let's take a look at some measures you can take to keep stormy economic conditions from drowning your retirement plans.
2009-01-09
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U.S. News & World Report
6 Tips to Save on Insurance Costs
While older consumers might be reluctant to reduce their spending on insurance, they should think about whether some wise trims can be made without sacrificing their key insurance safeguards. Here are tips for where to look for auto, home, life, and health insurance savings:
2009-01-05
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U.S. News & World Report
7 Ways Laid-Off Baby Boomers Can Find Health Insurance
Workers who find themselves unexpectedly laid off in middle age or forced into early retirement have many worries. One of their greatest fears is about finding health insurance coverage. ... Here’s a look at your health insurance options before you qualify for Medicare.
2009-01-05
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MSNBC - Business
Retirees no longer counting on home equity
Many Americans have recently found themselves changing retirement plans after losing a substantial amount of home equity as the housing market and the overall U.S. economy struggle. These folks face years of living on fixed incomes from pensions, 401(k)s or IRAs, and Social Security, but don't have the time to recover their losses. ... Knowing that, it's time for Americans to explore other options other than relying on home equity as a fail-safe, especially if they have no other retirement investments or savings. Options include downsizing their home, selling assets, postponing retirement by working longer, and signing up for a reverse mortgage. These decisions require heavy thought because each has its challenges and risks.
2009-01-04
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Dallas (TX) Morning News
Retirement communities providing consultants to help seniors move
As the housing slump deepens, a growing number of senior-living communities are pitching in to help prospective residents spruce up and sell their houses so that they can proceed with their retirement plans. Some communities are also offering flexible financing programs for people who want to move before they sell their homes.
2008-12-14
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U.S. News & World Report
15 Things You Need to Know Now About Annuities
With the retirement playing field littered with crushed investments and dreams, the safety of guaranteed income streams looks more attractive each day. Annuities can provide such guarantees, so let's take a look at them and consider whether they make sense for you.
2008-12-12
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The Street.com
A Look at Long-Term Care Costs
Seventy percent of Americans haven't planned for their long-term care needs in retirement, according to Employee Benefit News. What's more, 70% of people over age 65 will require that care, whose cost is high and rising. ... Here's a primer on LTCI, along with information to help you determine if it's right for you.
2008-12-02
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Lawrence (KA) Journal-World
Retirement time has arrived. Now what?
Recent retirees and people about to wrap up their careers often find themselves asking: Now what? Fortunately, there are many options for retirees looking for their next challenge, according to the editors of Consumer Reports Money Adviser. They can continue to work, move into a new career, volunteer — or even go back to school.
2008-11-26
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MSNBC - Mental Health
Retirement dreams give way to despair, anger
One of the biggest worries for those on the brink of retirement used to be how to fill all that spare time. But as the economic meltdown devastates the savings of millions of Americans, a rising number of older workers are now realizing that retirement instead will have to come much later than they'd planned — if at all. And some of those who had only just to begun to enjoy their leisure years are now having to tuck aside their dreams and, in some cases, their pride, to return to the workforce. For many, feelings of hopelessness, despair, anger and shame have darkened what until very recently they'd banked on being a new beginning.
2008-11-20
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Salt Lake City (UT) Tribune
On the Job: Seeking a second career is tricky, but worth it
As more baby boomers realize that their dreams of retirement are being altered by the floundering economy, they are beginning to consider either working longer at their current job - or finding something new altogether. If they decide to enter into a whole new career, it often means hitting the ground running because the tough job market allows little room for error.
2008-11-17
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Deming (NM) Headlight
Health insurance vital in retirement
If you've already retired or plan to in the near future, it's a good idea to review your health care coverage to make sure it has kept pace with your changing needs. Adequate health insurance is a vital component of overall financial security, especially as we age and require more medical care.
2008-11-03
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Forbes
How Not To Retire
If your nest egg's been scrambled, here are some ways to keep working without doing so full time or draining all of what remains of your (gasp) 401(k).
2008-11-01
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Wall Street Journal
Gifting Your House and Living in It, Too
QPRTs are one of a number of strategies that wealth advisers and estate planners are recommending as clients cope with beaten-down financial markets and a nasty real-estate landscape. The goal: Put beaten-down assets into trusts now and reap benefits from their appreciation outside of your estate. With real-estate values low, executing a QPRT now ensures your estate won't contain a more-expensive home down the road, which could trigger a costly tax bill for your estate.
2008-10-30
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CNN - Money
Dividend cuts eat away at retirement income
With profits shrinking dramatically amid the slowing economy, many companies that traditionally pay dividends are emulating less-mature growth companies by holding onto most or all of their profits. But dividend-paying companies that are cutting payouts or declining to increase them are frequently doing so to restore financial health. That's especially so for many banks that need to shore up balance sheets battered by losses from the credit crisis and mortgage-related securities.
2008-10-27
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Chicago (IL) Tribune
5 Questions on retirement for author John Nelson
Nelson, 49, a retirement researcher and lecturer in consumer science at the University of Wisconsin, created a retirement model that has been selected for the retirement readiness program for federal employees. His Retirement Well-Being Model is a research- and philosophically based tool designed to factor in health and happiness, as well as finances, as people plan and set goals for retirement.
2008-10-22
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New York Times (NY)
Young Workers Must Face Realities of Long-Term Care
With life expectancy steadily rising, the odds are that they will eventually need some help with basic functions, like dressing or walking, maybe for decades. But many boomers are ignoring this prospect.
2008-10-22
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Washington (DC) Post
Don't Panic. Don't Stop Saving.
Experts agree: don't panic and don't stop saving. People emotionally involved with their money tend to make bad financial decisions, and people who don't save are guaranteed a distant retirement. What's more, the matching contributions offered by some employers help pump up retirement accounts.
2008-10-15
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Boston (MA) Globe
Advice for men and women about women's financial security in retirement
2008-10-11
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Burlington (VT) WCAX-TV
Market Mess May Delay Retirements
Financial advisors, ... , say you should keep your money where it is. Continue to invest in IRAs and 401Ks, although people on the verge of retirement may need to postpone or alter their retirement plans until the market rebounds.
2008-10-10
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Santa Rosa (CA) Press Democrat
The anxiety years
As investments plummet and pensions vanish, people in their 50s and 60s are rethinking retirement. Baby boomers are rethinking retirement as they watch their investments dwindle. Plummeting home values, fading 401(k) accounts, shrinking interest on CDs and worries about their own jobs are driving the trend. Fears about the future of Social Security and defined-benefit pensions only add to anxiety for the over-50 set.
2008-10-05
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Forbes
Early Retirement Is Not Just A Daydream
There are ways to retire young without winning the lottery or having valuable options to cash out. Savvy investing, smart spending and very strict saving can pave the road for the average American to find a way to live out the dream of early retirement.
2008-10-03
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U.S. News & World Report
How to Find a Financial Planner
With a little homework, you can steer clear of swindlers and find a legitimate professional. A good planner can devise an overall financial plan that will recommend how to allocate assets and determine if you've got the right blend to meet your specific retirement goals. What's more, a planner can advise you on how to draw down funds from your accounts when needed and handle estate-planning and tax matters. Here are six steps toward finding a planner who is right for you.
2008-10-01
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Hartford (CT) Courant
Survey: Half of workers plan to be working at 67 to stay
The company calls the survey the
2008-10-01
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Wall Street Journal
Baby Boomers Delay Retirement
For millions of Americans approaching retirement, events of recent weeks are delivering a clear message: Not so fast. With nest eggs shrinking, housing prices still falling and anxieties about their financial future growing, the oldest members of the baby-boom generation are putting the brakes on plans to leave the office. ... Most people underestimate how much money they will need for retirements that could easily last two or three decades, and are leaving the work force with nest eggs that are likely to expire long before they do.
2008-09-22
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Forbes
Long-term care insurance: pricey but necessary?
The Smiths are among 8 million Americans with long-term care insurance - an area where insurers expect big growth as baby boomers zero in on their senior years. The projections are high because the reality is that about 70 percent of people over 65 will require some type of long-term care services during their lifetime, according to the National Clearinghouse for Long-Term Care Information. It might come at any age, actually; 40 percent of people currently receiving long-term care are 64 or under.
2008-09-17
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Washington (DC) Post
Restrictions On Age, Not On Options
Forty percent of U.S. households will be headed by people 55 and older by 2012, according to the National Association of Home Builders. Because of that, the number of communities targeting that market is increasing. But is such a move right for you?
2008-09-13
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U.S. News & World Report
Retooling for Your 'Retirement Career'
2008-09-03
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U.S. News & World Report
The Best Age to Buy Long-Term-Care Insurance
Not everyone needs long-term-care insurance. According to Consumer Reports Money Adviser, only people with assets between $200,000 and $2 million should be perusing policies. Retirees with assets of $2 million or more should be able to pay for the full cost of care. And those with a net worth below $200,000 to $300,000 (not including a house) won't be able to comfortably afford pricy premiums and will probably rely on government programs if they need long-term care. Here's what Consumer Reports uncovered about the ideal age at which to buy:
2008-09-02
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MSNBC - Business
What retirement? Many find they have to work
While the average retirement age remains 63, that standard may soon be going the way of the gold watch — a trend expected to accelerate as baby boomers close in on retirement without sufficient savings.
2008-09-01
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Roanoke (VA) Times
The costly years -- Most common financial myths
If growing old isn't for sissies, as the saying goes, then neither is trying to help your spouse or parent navigate the frailties of late life. The truth is sad but undeniable: Anyone who reaches the age of 65 stands a 2-in-3 chance of needing assistance with care for some stretch of time before death, according to the AARP. How do families manage the costs of arranging for their relatives' long-term care?
2008-08-17
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Forbes
Keeping Family Wealth From The Taxman
Tax planning for the efficient transfer of the business cannot be done in a vacuum. There are a multitude of tax considerations to keep in mind when attempting to quantify the tax costs involved in the business transfer. Certain methods of transfer are less costly than others from a tax perspective. What is an effective plan from an estate or gift tax point of view may not be so efficient when viewed in the context of personal income tax. Additionally, what most benefits the family may not necessarily be the wisest alternative for the business.
2008-08-14
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BusinessWeek
Can Women Bridge the Retirement Savings Gap?
Studies keep showing that men save more than women, but there are ways to narrow the difference. Here's how ...
2008-08-11
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U.S. News & World Report
Replacing Income in Retirement
No one is quite sure how much of their current salary employees should aim to replace in retirement. Recent estimates have ranged from 65 to 85 percent of preretirement income (Government Accountability Office) to an astonishing 126 percent of final pay (Hewitt Associates).
2008-08-11
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Forbes
Mobile homes are a low-cost retirement option
They were once called trailer parks, then mobile home parks. Today, residents who live in them generally prefer the term
2008-08-01
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Dallas (TX) Morning News
Long-term care policies cover help in old age
Two-thirds of Americans older than 65 will require professional help coping with chronic illnesses at home or in a senior-care facility, says the Center for Retirement Research at Boston College. Two-thirds of Americans older than 65 will require professional help coping with chronic illnesses at home or in a senior-care facility, says the Center for Retirement Research at Boston College.
2008-07-30
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Chicago (IL) Tribune
Where there's a will, it pays
Among the most fundamental of money tasks is creating a will, yet nearly 6 in 10 adults don't have one, according to a recent survey by FindLaw.com, a legal information Web site. It's a shame to spend money wisely during your lifetime and then lose control afterward, as state law and probate court decide how to divvy up all you own and siphon money from your estate in the form of fees and taxes.
2008-07-27
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Fort Worth (TX) Business Press
Social Security: Will it be here when you need it?
The Social Security program is similar to an earned benefit insurance program; it is only available to those who work and pay taxes, and the benefits are suppose to be available to the workers and their family upon retirement, disability or death. The program was never meant to be the sole funds to be relied on by retirees. ... There are simple things that everyone can do to plan for his or her future retirement:
2008-07-21
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Houston (TX) KHOU
Slow economy forces seniors out of retirement to pay bills
Rising prices and the slow economy are forcing some seniors out of retirement and back to work. Many are hoping their new jobs will help them make ends meet.
2008-07-16
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Pittsburgh (PA) Post-Gazette
Next Steps: Think carefully before signing community care contract
The best person to review your contract is your attorney, with assistance from your certified public accountant and/or financial adviser because of the expense and potential pitfalls that seniors don't need to deal with after the fact. ... While all contracts contain similar language, some have bells and whistles that require explanation.
2008-07-15
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U.S. News & World Report
The State of Retirement Planning
The study by Ernst & Young and Americans for Secure Retirement is the latest in a series of studies predicting that Americans will be woefully unprepared for retirement. ... Of course, you can always reduce your retirement consumption in fairly pain-free ways by downsizing your house or car, moving to an area with a lower cost of living, and curbing nonessential expenses.
2008-07-15
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Detroit (MI) Free Press
Beware of early-retirement scammers at seminars
Employers are being put on high alert for bad brokers and others who weasel their way into the workplace to stage free seminars that ultimately lead to devastating early-retirement scams.
2008-07-13
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Hattiesburg (MS) American
Become long-term care aware
If you are employed and become ill or have an accident, your accumulated sick leave may cover your living expenses - at least for the short term - but what about the long term? How long could you live without a steady income? I'm not old enough to be concerned or am I? ... I have found that often people do not want to talk about the prospects of needing long-term care. However, in the blink of an eye, the need for day-to-day assistance could become an issue.
2008-07-11
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Spokane (WA) Journal of Business
Planning can prevent errors, family strife
Attempts to ease probate process can create problems in handling estates. Elder-law attorneys here say people make avoidable, but all-too-common mistakes in planning their estates.
2008-07-10
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Wall Street Journal
The Benefits of Holding Off On Social Security
The percentage of workers who claim Social Security when they reach age 62 is dropping, according to new research. Holding off could be a smart move for you as well.
2008-07-06
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Boston (MA) Globe
When it comes to retirement, investments may be less important than you think
Allow me to introduce the power of nonfinancial thinking. It involves none of the thinking preferred by those on Wall Street who make their living selling us the next financial cure-all. It also acknowledges something the financial services industry doesn't want us to know. When push comes to shove, investments rank third or fourth when it comes to the retirement security of nine of 10 Americans. I'm not saying investments aren't important. They're just not as important as Social Security, home equity, and pensions.
2008-07-01
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U.S. News & World Report
Can You Afford Long-Term-Care Insurance?
Long-term care is likely to be most Americans' greatest expense of all in retirement. A private room in a nursing home costs $76,460 annually on average, or $209 a day, and Medicare typically won't cover it. Long-term-care insurance can help protect you from some of these unpredictable costs. It can be used to pay for nursing home expenses, adult day care, and in-home help for seniors with chronic conditions or who need extra help recovering from an illness.
2008-06-30
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Boston (MA) Globe
For most, it's homeownership and benefits, not savings, that fund retirement
The financial services industry routinely emphasizes our savings - our financial assets. Putting primary attention to these assets is appropriate for the top 5 or 10 percent of all households. But for the other 90 percent, the big levers are Social Security, a pension - if you have one - and home equity. For most Americans, financial assets are a distant fourth. ,,, This reality means that true financial planning involves more attention to benefits and homeownership. And less attention to saving and financial assets.
2008-06-27
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Associated Press
Fidelity: $85k needed for long-term care costs
A 65-year-old couple needs $85,000 on average to cover insurance costs for long-term care such as nursing home stays in retirement, according to a study to be released Thursday by Fidelity Investments.
2008-06-26
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Seattle (WA) Times
Liz Taylor on why long-term care insurance is important
I have a love-hate relationship with long-term- care insurance. As readers know, I strongly recommend that most comfortably well-off Americans consider buying a policy. I bought mine almost a decade ago, and, as much as I don't like forking over $200 a month for it, I'm glad I bought it. The main reason: I see no alternatives. Here's why:
2008-06-16
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Wall Street Journal
Choosing Where to Live
Health-care costs aren't at the top of the list when baby boomers consider where to live in retirement. But maybe that should change. Charges for medical insurance and for health care differ tremendously in different locales, says Steve Zaleznick, president of Longevity Alliance, a Washington, D.C., company that provides quotes for retirement-related financial services.
2008-06-15
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St. Louis (MO) Post-Dispatch
Estate plans should put your life first
A good estate plan puts your life and your wishes first. In an ideal world, it should be part of a plan that foresees your expenses through the end of life and provides for an orderly distribution of assets after your death.
2008-06-15
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Charlotte (NC) Observer
Are you insured for long-term care?
If you don't qualify for Medicaid or have unlimited savings to set aside for future care, your best bet may be long-term care insurance. The premiums are less expensive and it's easier to qualify if you buy it in your 50s than in your 60s or beyond, according to the AARP and other advocates for older people.
2008-06-15
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Tinley Park (IL) SouthtownStar
Reverse mortgages more popular
The distinguished voice on the radio advertisement pitching reverse mortgages has a familiar ring: Yes, that's James Garner, the venerable television and film actor. ... But the increasing popularity of reverse mortgages has revealed some pitfalls that can be avoided by doing what thousands of U.S. foreclosure victims who entered into bad adjustable rate loans should have done three and four years ago: Ask questions, do the proper homework, and don't get swayed by smooth-talking salesmen.
2008-06-14
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USA Today
How to defuse the 5 scariest retirement threats
With stocks sagging, home prices tumbling and food and gas prices robbing people's budgets, these are nerve-jangling days for consumers. Especially if you're retired. Wasn't retirement supposed to be the time to finally relax? Don't despair. You can blunt most threats to your retirement with smart investing, shrewd planning and old-fashioned thrift. Here are five of the biggest threats to your retirement. Then take action. The cures are less painful than you might think.
2008-06-13
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BusinessWeek
Installment Sales: The Time Is Ripe
It's a nice problem to have: enough money that you need to think about lessening estate taxes for heirs. And this is a good time to start estate planning, since the interest rates the government sets for one strategy, called installment sales, make it particularly attractive right now.
2008-06-12
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U.S. News & World Report
Why Wait to Give Away Your Money?
Parents and grandparents with money to spare are no longer waiting until death to pass on their wealth. Instead, they're increasingly handing it over to their adult kids while they're still around to see how it's spent—and, in some cases, lend a hand.
2008-06-12
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Binghamton (NY) Press & Sun-Bulletin
Understanding long-term care is vital
Living into your early 70s used to be common; now increasingly more people are living into their 80s and 90s. Improved medical care combined with better nutrition and a more active lifestyle tends to result in longer and healthier lives. While it is encouraging, an extended life brings with it the increased likelihood of experiencing a long-term illness. To effectively preserve our dignity and freedom of choice tomorrow means carefully considering our options today.
2008-06-09
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San Bernardino (CA) Press-Enterprise
Research, planning can increase long-term care options
Nearly 70 percent of all today's 65-year-olds will need long-term care, researchers say. Twenty percent of those people will need it for more than five years, according to a study sponsored by the National Investment Center for the Seniors Housing & Care Industry. Finding the best care option depends on planning, research and financial resources, experts say.
2008-06-07
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Ventura (CA) County Star
Preserving retirement dreams
Rather than deferring dreams, University Village in Thousand Oaks is deferring payments to help people move into the retirement community while they wait for their homes to sell. It's a creative approach tailored to a down real estate market. People can move in to a unit and enjoy all the amenities by paying the required monthly fee, but their one-time entrance fee is put on hold until their homes sell.
2008-05-30
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Cherry Hill (NJ) Courier-Post
Women can face obstacles in planning for retirement
The economic slowdown has made it harder for many people to keep up their pace of saving for retirement. But women, especially, can find it difficult in tough times to invest enough to ensure a secure retirement. ... An economic slowdown is an ideal time for women to commit themselves to the fundamentals of retirement saving. Here are some of them:
2008-05-30
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Dallas (TX) Morning News
5 steps to a pleasant retirement
The most striking thing about mail from readers who are thinking about retirement is something I call the personal action gap. What’s that? Simply this: Many devote a lot of effort to things with uncertain results, like investing. Remarkably little attention goes to personal actions that have surefire results. So here are five simple steps toward retirement.
2008-05-29
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Littleton (CO) Lone Tree Voice
Slow change key to better retirement
Boomers want to retire early so they can escape. If there was a way to just slow down, our outlook might appear a bit brighter. ... When you are dreaming of retirement, perhaps you are really dreaming of a life change ... a sabbatical, studying for fun, exploring, inventing, or volunteering.
2008-05-29
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CNN - Money
Managing your folks' money: 5 steps
Even if you think you're well prepared to take over an aging parent's finances you'd better read this guide.
2008-05-28
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Reuters
Ripples from housing crisis slow senior living
The free fall in U.S. home prices is forcing many elderly Americans to postpone plans to move into senior housing developments until they are able to sell their homes.
2008-05-23
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State College (PA) Centre Daily Times
Three Strategies for Living Well in Retirement Without Being an Investment Wizard
If you are like the vast majority of Americans, most of your retirement income will not come from your financial assets. But that doesn't mean you can't live well in retirement - if you recognize that there's more to retirement planning than what's in your investment portfolio.
2008-05-22
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Wall Street Journal - Marketwatch
Risk management - The top five risks you face in retirement, and tips on how to handle them
They say risk is opportunity, but that's true only if one knows what the risks are and how they might be managed. To that end, the Society of Actuaries has boiled down its list of 15-plus retirement risks to a manageable list of five, along with what it calls
2008-05-21
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Hattiesburg (MS) American
Boomers get serious about fitness regimens
Fitness experts say more boomers are realizing they need a regimen of cardio, strength, flexibility and balance training to enjoy a long, healthy retirement. Some prefer exercising on their own or joining teams. Others prefer help available at gyms or clubs.
2008-05-20
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Payson (AZ) Roundup
Adapt a fixed income to enjoy retirement
For most people, retirement is a chance to sit back and enjoy the fruits of a life's worth of labor. However, no retiree wants to outlive their money. But living on a fixed income doesn't mean you have to pinch every penny. Instead, the following tips can help you enjoy retirement while also decreasing the likelihood your money will run out too early.
2008-05-13
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Los Angeles (CA) Times
Reverse mortgages aren't the only option for seniors
Reverse mortgages are one way for house-rich but cash-poor seniors to tap into their equity without having to sell. But there are other options to consider as well.
2008-05-11
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Seattle (WA) Post-Intelligencer
10 top retirement tips for boomers
Are you all set for retirement? If not, here are 10 tips to consider:
2008-05-11
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Gallup
A Shift in How Americans Plan to Fund Their Retirement
While only 3% of current retirees say part-time work is a major source of their retirement income, one in five future retirees expect to use part-time work as a major source of their retirement funding -- twice the 10% who had the same expectation in April 2001.
2008-05-09
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USA Today
Path to retirement has pitfalls for women
The economic slowdown has made it harder for many people to keep up their pace of saving for retirement. But women, especially, can find it difficult in tough times to invest enough to ensure a secure retirement. After all, even under ideal circumstances, women face steeper obstacles than men in building a proper retirement nest egg. They live longer, for example, so they must pay for longer retirements. ...
2008-05-09
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Colorado Springs (CO) KKTV
Protecting Your Life Savings
Statistics show one out of every four American households cares for someone over the age of 50. Many of those families just can't afford to get help. Buying any type of insurance is like rolling the dice. You never know if you'll need it, but your policy gives you peace of mind if you're involved in a car accident or if your house goes up in flames. The same is true with a long term care policy. If you suffer a chronic illness or have a memory problem and need help with daily activities... long-term care insurance pays for in-home care. It can also pay for you to stay in a nursing home or assisted living facility.
2008-05-09
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RedOrbit.com
Boomer Women Broke Barriers, but Now They're Retiring Broke
Women on the leading edge of the baby boom generation are also at the forefront of other trends ones that may work to their detriment in retirement. These women were knocking bars off the doors of employers in the 1960s and 1970s, applying for jobs that would have been denied them in the past. But once hired, many found that the struggle had just begun. They often were massively underpaid when compared with their male colleagues. And they discovered ceilings that could be as hard to break through as doors. Now they are headed toward retirement. And I worry that they may be caught in a generational crevice, with their retirement made less secure by their early difficulties finding work, the lower wages they endured in the days when equal work seldom meant equal pay, and by changes in the pension system.
2008-05-06
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Wicked Local Plymouth (MA)
Dollars and sense: Long-term care insurance basics
As millions of Baby Boomers head into their retirement years, it’s surprising how few actually know that the government provides little more than a few weeks of financial support for nursing home care when the average person needs it for at least a year. Long-term care insurance (LTC) may be one solution for those who need to bridge the gap between their savings and the actual costs they could face if they or a family member requires care.
2008-05-06
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U.S. News & World Report
The Greatest Retirement Expense of All
You've probably heard the quip: Be nice to your kids because they'll pick your nursing home. But unless your kids do quite well for themselves, they may not be able to afford one. ... A new survey of 10,000 nursing homes, assisted living facilities, and home care providers by Genworth Financial found that costs of long-term care have jumped by as much as 25 percent in some areas since 2004.
2008-05-05
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U.S. News & World Report
When You Haven't Saved Enough to Retire
Your best moves are to work more and minimize expenses, a planner says
2008-05-02
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Toronto (Canada) Globe and Mail
He's driving to work, she's driving golf balls
Research shows that couples who retire at different times can experience added tension in their relationship, writes Siri Agrell
2008-05-01
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Bloomington (IL) Pantagraph
The pitfalls of working past retirement age
It is no secret that more Americans are working past retirement age. And as economic pressures mount, the decision to remain in the work force — or return after retiring — might be less about choice and more about necessity. Regardless, many professionals don’t want to stop working — they just want to work less. But what workers with defined-benefit pensions and those who already have tapped Social Security benefits might not realize is that there are significant financial disincentives that make working into retirement age a tricky proposition
2008-04-30
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CNN - Money
When to get long-term-care insurance
It's not alarmist to think that you'll need long-term care in your lifetime. Among Americans who reach their 65th birthday, 45% will have to pay for some kind of long-term-care services, according to the actuarial firm Milliman. ... Insurance could preserve your estate for your heirs and save incredible heartache. On the other hand, it's expensive and chances are you won't need it.
2008-04-29
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Seattle (WA) Times
Study finds increases in nursing home, assisted living costs
Costs for nursing homes, assisted living facilities and some in-home care services have increased for a fifth consecutive year, and could rise further if a shortage of long-term care workers isn't resolved, a new study indicates. ... He said that individuals, especially the baby boomers born between 1946 and 1964,
2008-04-29
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Minneapolis-St Paul (MN) Star Tribune
Twin Cities suburban trend: Silver-lined home market
In a suburban housing market chilled by recession and mortgage woes, one segment of housing is still hot: independent housing for seniors. With senior housing targeting people from ages 55 to 90, developments range from maintenance-free townhouses and co-ops for active residents to assisted-living and memory-care units.
2008-04-23
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Phoenix (AZ) azcentral.com
Payout funds can reduce retirement guesswork
With legions of baby boomers set to retire in the next few years, mutual fund companies are scrambling to find answers to a critical question: What's the best way for those newly freed from the work force to tap their retirement savings? One answer increasingly is a category of funds known variously as managed income funds or managed payout funds. They're designed to replace paychecks with regular distributions.
2008-04-22
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Shreveport (LA) Times
Financial Fundamentals: Planning key to early retirement success
Most of us fantasize about being able to retire at a young age. For a number of Americans, it is not just a fantasy, but a reality. There are different ways that people approach an early retirement strategy, but one aspect is consistent for most — it requires careful planning. The appeal of early retirement is obvious. Along with having more free time, fewer demands and reduced stress, you also benefit from the advantage of still being in the prime of your health. A benefit of leaving full-time work well before a traditional retirement age is the ability to do more physically than waiting until age 65 or later to retire.
2008-04-21
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New York Times (NY)
Making Your Money Last as Long as You Live
EVEN for people who have built up a decent nest egg, deciding how to use it is one of the demands of early retirement. The good life may be within reach, but the financial logistics still require careful attention. ... Some differences in planning are personal. For instance, a couple planning to retire at 55 may need a paycheck-bridge strategy before they become eligible for Social Security at age 62, said Michael Kitces, director of financial planning for the Pinnacle Advisory Group in Columbia, Md.
2008-04-21
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New York Times (NY)
She Wants a Career and He Wants Golf. Now What?
WITH his longtime New York City estate and business law practice winding down, Robert Rubinger was ready to retire five years ago, at age 76. But his wife, Nancy, who was then 66, was not. ... Of course, even a traditional retirement, like any life-cycle transition, can cause strains in a marriage, so the timing mismatch just adds one more hitch. There may be arguments over washing the dishes, vacations and moving. Roles that have been set in stone for decades are upturned. “When you’re retired at different times, there are very different agendas,” said Maryanne Vandervelde, author of the book “Retirement for Two” and a founder of the Institute for Couples in Retirement in Seattle.
2008-04-21
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New York Times (NY)
When Generosity Bumps Into Gift Tax
THESE days, many prosperous baby boomers are subsidizing parents, and sometimes siblings, who are less fortunate. Innocuous as this may seem, being generous can also subject you to gift tax. While helping a family member often occurs under the radar, if the gift exceeds a certain value and the I.R.S. catches it, you could be forced to pay the tax as well as interest. ... Here are strategies for subsidizing relatives without having to pay gift tax.
2008-04-21
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Ottawa Citizen (Canada)
Seniors seek flex time into retirement
Nine to noon, Tuesday to Thursday - sound like a good work week? It does to older workers, who said in an Royal Bank of Canada (RBC) survey it'll take shorter work weeks and flexible hours, among other things, to keep them in the workplace after they retire.
2008-04-15
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Reuters - UK
Perks needed to keep older workers: poll
Shorter work weeks, flexible hours and extended healthcare benefits are important for recruiting and keeping older workers, a new survey showed. A poll of Canadians age 55 and older conducted by Ipsos Reid identified several factors that companies need to keep in mind to attract and stop older workers from leaving.
2008-04-15
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Washington (DC) Times
Health system unready for boomer onslaught
Millions of baby boomers are approaching a point in their lives when they will need geriatric care, but the U.S. health care system is
2008-04-15
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Clio (MI) WEYI-TV NBCNews 25
Retirement Withdrawl Strategies
When you’re working, you probably focus on how much you’re putting in to your investment portfolio. But when you retire, you may be more interested in how much you take out. And that’s why you have to prepare the proper withdrawal strategies. Specifically, once you retire, you’ll need to decide what percentage of your investment portfolio you can withdraw each year without running out of money.
2008-04-14
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Biloxi (MS) Sun Herald
Plan now to fill retirement years
When you quit working, every day becomes a vacation day. How will you find fulfillment then? In their book
2008-04-13
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Medford (OR) Mail Tribune
A time to save
U.S. workers and retirees are losing confidence in their ability to afford a comfortable retirement — and with good reason. Health-care costs are rising, home values are dropping, and savings are modest, according to the report. In fact, fewer than one-in-five workers (18 percent to be exact) are very confident about having enough money for a comfortable retirement. The big question for the some 80 percent who are not very confident is: What do the very confident have that they don't? What can Americans do to improve their odds of having the retirement of their dreams? Here, in no particular order, are some things to consider.
2008-04-13
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Rochester (MN) Post-Bulletin
Suze Orman: Make your retirement a reality
... list of a few things you can do to ensure that your retirement years are the best -- and least stressful -- they can be.
2008-04-12
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Hartford (CT) Courant
Boomers' Fashion A New Model For Retirement
Remember when retirement meant a move to Florida and golden years filled with shuffleboard and early bird specials? In the words of Pulitzer Prize winner Bob Dylan,
2008-04-11
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Southfield (MI) WWJ Newsradio 950
For a Lot of Reasons, More People are Working Past Retirement Age
While the phrase “working retirement” appears to be an oxymoron, the reality is that men and women reaching the 65-year old retirement age are not ready to pack up their pencils and go home. For many the decision to work past retirement is a financial one. But that isn’t the only motivator. ...
2008-04-11
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Kansas City (MO) KMBC
Now Is The Time To Save For Retirement
People turning 50 today are beginning to view that milestone as a time of enjoying new-found freedom, of making new choices and dreaming new dreams. They approach life after 50 with more education, greater economic resources and diverse attitudes, experiences and expectations. A secure retirement consists of four strong pillars: Social Security, a pension or savings account, earnings and health insurance.
2008-04-10
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Harrisburg (PA) Phillyburbs.com
Boomer business owners expected to hold on tight
Boomers — the oldest turn 62 this year — own an estimated 12 million businesses nationwide that are worth a combined $10 trillion. Over the next 15 years, eight million businesses are expected to sell — twice as many as have sold in each of the past 15 years, studies show.
2008-04-07
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Fort Worth (TX) Business Press
Pulling up your stakes in your retirement years
Have you ever dreamt of living somewhere else? Retirement may bring many possibilities for a new place to call home. If you’re intrigued by the notion of living somewhere new, there are myriad possibilities. Every year new lists of retirement hot spots are released across the country to pitch their charms and woo potential senior citizens. Before you jump on the wagon, take a personal inventory of the circumstances you believe will best satisfy your wanderlust.
2008-04-07
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Napa Valley (CA) Register
Survey of Baby Boomers
Harris Interactive, a major international research firm, recently published a report about how aging Americans feel about their approaching retirement. The study was comprised of a survey of Americans between ages 45 and 65, and it had some interesting results.
2008-04-07
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Financial Planning
Long-Term Care Redefined
If you ask most advisors about long-term care, they will immediately add
2008-04-01
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Wall Street Journal
The Wall Street Journal.'s Retirement-Planning Guide
Few events in our lives can produce as much satisfaction—and as much anxiety -- as retirement. We fantasize about the day when we finally can walk away from the duties and demands of our jobs-- and wonder if we'll miss our friends at the office. We make lists of things to do in retirement- and worry whether our nest egg will be big enough to allow us to chase those dreams. We see ourselves aging gracefully in our home and the neighborhood that we love – and ask if poor health in later life will rob us of our independence. If you find yourself with some or all of these thoughts, congratulations. You are perfectly normal. Survey after survey shows that most Americans are looking forward to retirement, but we aren't sure if we're ready or able to take the first step. In which case, it helps to have a plan.
2008-04-01
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InvestmentNews
Women will drive boomer retirement
By now you are probably tired of hearing that baby boomers are going to change retirement. The fact is, they are. Yet despite all the talk, the financial services industry still remains mostly unprepared — largely because they don't see how major societal shifts are changing the very practical financial needs of boomers. Let's examine one area where this is particularly the case: the big changes that are taking place among women.
2008-03-31
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Newark (NJ) Star-Ledger
Invest in you: Cut the financial umbilical cord
The Money Across Generations study conducted for Ameriprise Financial by GfK Roper Public Affairs makes clear that a large percentage of boomer parents have a difficult time cutting the financial strings. ... Determine whether your own retirement plans are being put at risk by using too much of your savings or income to help pay bills for your kids. That could result in a financial shortfall for you later in life and possibly postpone retirement.
2008-03-30
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Wall Street Journal
Dancing Bears at Your Retirement Party?
While no one knows precisely where stocks are headed or when home prices will bottom out, those counting on personal investments or a home sale to produce much of their income after leaving the office may have to postpone retirement, cut back spending plans or find a part-time job.
2008-03-30
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Agoura Hills (CA) Acorn
Importance of long-term care insurance
By now, most Americans have heard about longterm care insurance, yet many have shied away. According to numerous polls, most Americans believe that long-term care will be paid by Medicare, Medicaid (Medi-Cal) or private health insurance. These misconceptions could prove financially disastrous to those who do not know the facts.
2008-03-27
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Phoenix (AZ) azcentral.com
Boomers weigh financial merits of retiring early
As the oldest baby boomers blow out 62 candles on their birthday cakes this year, they become eligible for early retirement benefits. But will they take the money and run, or wait until 66 for full Social Security benefits? ... Many turning 62 face important decisions. Have they saved enough to retire early? If so, do they want to retire or, perhaps, change careers? And can they get by on a permanently reduced monthly amount if they start collecting benefits before their full retirement age?
2008-03-26
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Middletown (NY) Times Herald-Record
Personal Finances: Check out pros and cons of long-term care policies
When it comes to the retirement conversation, mostly everyone wants to plan for the freedom to pick up and travel to exotic locations. But when the talk turns to long-term care, suddenly clients get a bit uneasy. The concept that
2008-03-26
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U.S. News & World Report
6 Blunders That Ruin Retirement Plans
Regular contributions to an IRA or 401(k) are a good start, but accumulating money is only part of the retirement-planning equation. Securing a comfortable retirement is a tricky process that requires careful planning; a few bad moves can cost you dearly in the long run. Here are six common missteps:
2008-03-26
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Sarasota (FL) Herald-Tribune
Boomers starting to downsize
Coldwell Banker surveyed its real estate sales people across the nation and found that baby boomers entering the empty-nester phase of their lives are buying homes. Fifty-two percent of brokers said that boomers were buying because of a process of downsizing homes after their children had left home.
2008-03-24
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Chicago (IL) Tribune
More seniors need to learn basics of investing
April is National Financial Literacy Month, and a lot of effort will be made to teach money issues to children. And that's good; children need to be prepared for the complex financial world that awaits them. But what we need more immediately is to raise the financial literacy of older workers—before they make decisions on Social Security or what to do with a lump sum distribution from a 401(k).
2008-03-23
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MSNBC - Business
Midlife crisis: Moving back in with parents
Taking shelter with parents isn’t uncommon for young people in their 20s, especially when the job market is poor. But now the slumping economy and the credit crunch are forcing some children to do so later in life — even in middle age. Financial planners report receiving many calls from parents seeking advice about taking in their grown children following divorces and layoffs.
2008-03-23
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Melville (NY) Newsday
Robert Butler: triumphs and challenges of aging
Slight, soft-spoken and white-haired, Dr. Robert Neil Butler has the looks and demeanor of a classic family practitioner who came to your bedside when you got sick. But he is much more: the doctor who practically invented the specialty of geriatric medicine, treating and caring about people of age. Indeed, I think it can be safely said that Bob Butler knows more than anyone about the triumphs and challenges of aging, its problems and processes, its science and politics.
2008-03-23
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Miami (FL) Herald
Some Insurers Consider Bridging Health Coverage For The Pre-Medicare Crowd
''Making it to Medicare'' has become one of the biggest challenges for baby boomers who retire or are laid off before 65. ... But there may be hope on the horizon. Lured by the baby boomer generation's size and affluence, a number of insurers have begun to market policies specifically geared to the 50-to-64 age group.
2008-03-23
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Chicago (IL) Tribune
Divorce can put dent in retirement savings
Splitting from a spouse? It may be painful, but don't forget the long-term view. Getting your retirement nest egg through a divorce takes more time, patience and short-term cash than many people can muster during such a traumatic period. Often, this leaves them vulnerable to problems down the road, said financial planners who cater to divorcing couples. And when the split happens near retirement, it can be particularly painful.
2008-03-23
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Gadsden (AL) Times
How to Plan for Retirement: Evaluation now can prove to be salvation later
Remember when you left home and started your first job? Retiring can be as big a transition, except more complicated. Planning your financial, social, vocational and avocational needs now will help smooth the adjustment. It’s never too early or too late to start.
2008-03-22
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Oklahoma City (OK) The Oklahoman
Various funding sources available to pay for long-term care at home
As we age, most of us want to stay in our own homes for as long as possible. We want to maintain our independence and self-sufficiency. If we are unable to stay in our homes without assistance, most of us are willing to obtain the care and assistance we need to continue to stay at home, rather than move to a health care facility. There are several possible options for paying for long-term care at home.
2008-03-20
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The Motley Fool
Don't Let Bad Math Ruin Your Retirement
A great retirement starts with a solid financial plan in place from the first day of your working life. That said, it's never too late to start planning. Putting together a complete financial plan that determines intelligent asset allocation, manages taxes and fees, calculates responsible withdrawal rates, and accounts for rising costs of living will still put you ahead of the majority of Americans.
2008-03-18
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Pittsburgh (PA) Post-Gazette
Home equity no guarantee for retirement years
Homeownership has for generations been the greatest source of net worth for many households and a consolation for seniors who may not have saved enough cash during their working years.
2008-03-16
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US Department of Labor
Taking The Mystery Out Of Retirement Planning
Taking the Mystery Out of Retirement Planning offers a simplified, bottom-line approach to figuring out just how much you may need when you retire.
2008-03-16
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National Center for Business Journalism
Retirement Realities
Unlike past generations, most of today’s retirees won’t receive a monthly pension check. Instead, they’ll retire with some combination of 401(k) plans, individual retirement accounts and lump sum payouts from their cash-balance pensions. And making that money last will force people who haven’t balanced their checkbooks in 25 years to become money managers.
2008-03-15
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Mankato (MN) Free Press
Our View: Debt, money attitudes expensive
The survey, entitled “Debt — The Blind Spot on America’s Road to Retirement,” suggests we are deep in debt but won’t accept it as a problem.
2008-03-14
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Gallup - Business and Economy
Most Small-Business Owners Don't Plan to Fully Retire
Only 11% of small-business owners say they plan to retire and stop working in their businesses in the long run, according to the Wells Fargo/Gallup Small Business Index survey.
2008-03-14
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Minneapolis-St Paul (MN) Pioneer Press
Rising debt erodes retirement dreams
At the rate Americans are racking up debt, you might find yourself trading seaside margaritas for the occasional cup of coffee from your local McDonald's.
2008-03-13
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Reuters
Aging Americans unsure they can afford to retire: survey
A third of Americans 50 and over are not confident they will have enough money to retire, and more than two-thirds expect to keep working well into old age, according to a survey published Wednesday.
2008-03-12
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ABC News - Money
Net Gains: Where to Put Your Retirement Funds
Knowing what percentage of your investment portfolio is allocated to stocks is essential to achieving your financial goals.
2008-03-12
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Dallas (TX) Morning News
Consider state and local taxes when deciding where to retire
Most people don't think about state and local taxes when they decide where to retire, but they probably should.
2008-03-10
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American Medical News - AMA
Older physicians trim hours in lieu of retiring
Experts say this trend among doctors 50 and older could ease the impact of physician shortages.
2008-03-10
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San Diego (CA) Union-Tribune
Couple adopt aggressive plan to cut debt
Retirement goals can be achieved. With retirement just around the corner, Jerry and Sheila Dearie are preparing themselves for the last stretch of hard work and heavy savings.
2008-03-10
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Columbia (SC) State
Getting good health insurance after retirement
Plan ahead for your retirement health insurance needs.
2008-03-09
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San Francisco (CA) Chronicle
Aging Boomers could burst housing bubble
78 million Boomers are about to enter the years when people tend to become sellers rather than buyers.
2008-03-09
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U.S. News & World Report
The New Thing in Retirement Accounts
Payout funds from Fidelity, Schwab, and others put drawing down your money on autopilot.
2008-03-07
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Reuters
Multidimensional retirement planning
Researchers say there are specific and measurable non-financial assets that folks should bring with them into retirement: Items like an exercise habit, connection to a religious community, and a good sense of self.
2008-03-06
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Phoenix (AZ) azcentral.com
Navigating to retirement
Even in the best of times, retirement planning is an inexact science. Right now the challenges are mounting amid sagging real estate prices, a volatile stock market, declining certificate of deposit yields, rising inflation and a soft economy. Those factors make it harder to estimate how much money you'll need to spend in retirement, and how much you'll have available in savings. If you're within a decade or so of retirement, now's the time to do some serious planning.
2008-03-06
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Newsweek
Brand-name drug prices continue to grow
Drug makers increased their prices last year by an average of 7.4 percent for brand-name medicines most commonly prescribed to the elderly, according to the advocacy group AARP.
2008-03-05
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USA Today
Fidelity: Couple needs $225,000 for retirement health care
A couple retiring this year will need about $225,000 in savings to cover medical costs in retirement, according to a study released Wednesday by Fidelity Investments.
2008-03-05
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Colorado Springs (CO) Business Journal
No surprise: small-business owners delaying retirement
Many small-business owners are putting most of their emphasis on the business and its immediate concerns, while tending to ignore long-term planning.
2008-03-03
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BusinessWeek
How to Retire Early, Then Change Your Mind
Call it the Social Security do-over. If you retire early and take a reduced monthly benefit, you can change your mind, reapply, and get the bigger payments that go to those who wait to collect benefits.
2008-03-03
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BusinessWeek
How to Retire Early, Then Change Your Mind
Call it the Social Security do-over. If you retire early and take a reduced monthly benefit, you can change your mind, reapply, and get the bigger payments that go to those who wait to collect benefits.
2008-03-03
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Lafayette (LA) Daily Advertiser
Solving the small business owner's retirement dilemma
There's a fatal flaw in the retirement of many small business owners: After pouring a lifetime of sweat, time and capital into building the business, their rough-sketch strategy is to sell out someday for a ton of money, then settle back and enjoy a financially secure retirement. Many business owners are so sure this will happen that they don't bother to make any other retirement plans.
2008-03-03
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New York Times (NY)
Tapping Into Homes Can Be Pitfall for the Elderly
As the United States has become an older nation, reverse mortgages have grown into a $20-billion-a-year industry, with elderly homeowners taking out more than 132,000 such loans in 2007, an increase of more than 270 percent from two years earlier.
2008-03-02
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Camarillo (CA) Ventura County Star
Retirement roadblock
County baby boomers had big plans for golden years. Now rising healthcare costs keep them on the job.
2008-03-02
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Inc. Magazine
I'll Be Back
For entrepreneurs, retirement doesn't mean forever. ... Business owners may dream of kicking back, all the way back, after years of full-throttle company building. Yet many return to the fray, suffering adrenaline withdrawal and lured by new opportunities.
2008-02-29
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CBS MarketWatch
Paying it forward
Little-known rule lets you restart Social Security and collect more each month
2008-02-28
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Forbes
Plan Now For A Boomer Retirement
Lying in a hammock or perfecting the old golf game for 20 years might seem the ideal retirement to baby boomers at 3 p.m. on a hectic Wednesday, but it will likely lose its luster after a few years.
2008-02-28
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Wall Street Journal
The Danger in 'Senior' Inflation
The Baby Boomer generation is heading into retirement. And inflation for older Americans is considerably higher than it is for the rest of the population.
2008-02-27
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Newsweek
Planners Wanted ASAP
Boomers are reaching pre-retirement and retirement age, and, often, they're clueless about what to do with their money now.
2008-02-23
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Bloomberg
Early Retirement Is More Than Just a Pipe Dream
For millions of baby boomers, 2008 might be the first year of the rest of their lives. ... Longevity is a blessing and a curse for future retirees. Living longer costs more. What was once inconceivable -- four decades in retirement -- is now possible with exercise, better diet and medical advances.
2008-02-22
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Business Journal (Phoenix)
Many Americans will fall short of current standard of living after retirement
A new report finds that a majority of American workers will not be able to maintain their current standard of living after they retire.
2008-02-19
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Fox News - Business
Early Preparation is Key for the Sandwich Generation
When nearing retirement age, most people worry about outliving their finances. But for millions of baby boomers, having enough money when they retire isn't the only thing they're losing sleep over.
2008-02-18
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U.S. News & World Report
A Personality Test for Planning Retirement
Personality tests can help you find the career that's right for you—or even your next date. Now there's an assessment that promises to help baby boomers tailor a retirement that suits their personality. Eric Sundstrom, an organizational psychologist at the University of Tennessee-Knoxville, spoke with U.S. News about how your personality can affect your retirement plans. Excerpts:
2008-02-04
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