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Planning to Retire

April 2009


When Retirement Means More Work

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After a 34-year career as a public elementary school teacher, my mother will hang up her erasers at the end of the academic year in June. By handing the superintendent a simple, one-page, typed note, Jean Brandon effectively made her most important retirement decision: when to retire.

I asked her ...

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retirement

Is Retirement a Right or a Privilege?

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Does everyone who puts in their 35 years in the workforce deserve to retire? Or should only those who save (and manage to invest successfully) have a period of leisure at the end of their life?

Most workers in the U.S. are entitled to Social Security benefits. The government program is the major ...

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retirement

401(k) Fee Disclosure Bill Introduced in House

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Wouldn’t it be nice if 401(k) statements looked sort of like nutrition labels on packaged food? The calories, fat, and protein content are neatly spelled out for you in a tidy little box. The information doesn’t necessarily make you eat any healthier, just as I’m sure 401(k) fee disclosure wouldn’t ...

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retirement

How Low Will Your 401(k) Go?

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This majority of Americans currently have less than $25,000 in savings. That’s barely enough to finance one year of retirement in most parts of the country. And 20 percent of workers say they have less than $1,000 in savings, according to a recently released Employee Benefit Research Institute and ...

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retirement

10 Sources of Retirement Income

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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 ...

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retirement

NFL Broadcaster John Madden Retires

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One of the most difficult retirement decisions you have to make is choosing when to stop working. Some people gradually cut back their hours, while others work one day and simply don’t go in the next. NFL broadcaster John Madden, a former head coach of the Oakland Raiders, announced his retirement ...

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retirement

Free Retirement for Dummies Book

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Humana, a health-benefits company, and Wiley Publishing are giving away free hard copies and a downloadable version of Retirement for Dummies. This short 68-page guide has sections covering signing up for Medicare, managing your money, and caring for loved ones. The bright yellow paperback book ...

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retirement

Why Retirement is Getting Tougher

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A perfect storm of financial forces have all conspired to make retirement especially rocky for the oldest baby boomers. Optimism about retirement prospects among all age groups has dropped sharply in the past year. Some 54 percent of Americans say they are less confident about having enough money ...

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retirement

Americans Lose Confidence in Ability to Retire

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Optimism about a retirement filled with golf and gardening is being replaced by a vision of retirement that includes work for pay and a considerable amount of cutting back. Only 13 percent of Americans say they are very confident they will have enough money to live comfortably in retirement,

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retirement

Forced Into Retirement Without Warning

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Many people plan to work until age 62 when Americans become eligible for Social Security. Age 65 is also a popular retirement choice because Medicare eligibility kicks in. But retirement can also happen without warning. An unexpected layoff or health problem can force you into retirement earlier ...

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retirement

A Resurgence in Retirement Savings

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There is no question that almost all American’s retirement account balances are down this year. But that doesn’t mean we’ve stopped saving. In fact, 28 percent of Americans have actually managed to save more in the past 12 months, according to a new survey. Plus, a whopping 71 percent of ...

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retirement

Retirement Risks are Increasing

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Retirement is risky business. Giving up your income stream and hoping you have enough saved to cover whatever expenses may crop up is a scary prospect, especially without a pension. It’s a good idea to try to calculate how much you need to save. But the truth is, you don’t know how long you might ...

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retirement