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Planning to Retire

May 2009


How Investment Losses Affect Retirement Plans

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Baby boomers on the threshold of retirement have suffered the greatest losses in their retirement accounts and are legitimately concerned about their financial future. Most baby boomers plan to cope by staying in the workforce longer. About 52 percent of boomers between ages 50 and 64 have thought ...

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retirement

Xerox Retirees Protest Benefit Cuts

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At least 2 dozen Xerox retirees picketed outside the company headquarters in Norwalk, Conn. last week to draw attention to cuts in their retiree healthcare benefits. The former employees wore T-shirts reading, “Xerox Breaks Promises" and carried signs that said “Xerox Can’t Be Trusted” and "Don't ...

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retirement

401(k) Rollovers Aren’t Always the Best Deal

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If you are laid off, you have to decide what to do with your old 401(k). But there’s no simple solution that works for everyone. Financial services company Charles Schwab released data this week showing that, among 9,790 terminated participants in Schwab 401(k) plans between January 2008 and March ...

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retirement

Is Your 401(k) Riskier Than Your Peer's?

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After stuffing 401(k)s with stocks for over a decade, employees are cutting back on their equity exposure. The average portion of 401(k) dollars invested in equities dropped to 59 percent in 2008, according to a study of 2.7 million employees eligible for 401(k) plans by human resources consulting ...

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retirement

Did Your 401(k) Lose More Money Than Your Peer's?

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Nearly all Americans watched their 401(k) balance dwindle in 2008. Some people toss their 401(k) statements directly into a drawer, thinking it’s better not to dwell on the losses. But if you’re the type of person who likes to pore over the downward trend graphs, here’s a snapshot of the national ...

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retirement

Baby Boomers Hit Hardest By Recession

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Those nearing retirement, but not yet retired, are experiencing the worst of the recession’s impact, according to a new Pew Research Center survey. Adults age 65 and older, most of whom have already retired and cut expenses, are the age group least worried about their finances, the telephone survey ...

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retirement

Decline in Traditional Pensions Hits New Low

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Fortune 100 companies were once employers where workers were likely to get gold-plated retirement benefits. But that’s no longer the case, at least for new hires. Less than half (45 percent) of Fortune 100 companies currently offer traditional or hybrid pensions to new hires, according to a new ...

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retirement

Men and Women Face Distinct Retirement Challenges

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It’s the battle of the sexes: retirement edition. Two reports crossed my desk this week each pointing out unique retirement challenges faced by either men or women. Here’s a quick look.

Women’s challenges. Women typically live longer than men, which means more years of retirement that need to be ...

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retirement

Employee Misperceptions About Target-Date Funds

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Target-date funds are often marketed as fix-it-and-forget-it funds for people who know little about asset allocation. They typically provide a mix of investments including stocks, bonds, and cash that grow more conservative as you approach a retirement date of your own choosing. New employees are ...

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retirement

Wells Fargo Freezes Pension Plan

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Wells Fargo, a company that announced record earnings of $3.05 billion in April, is freezing its traditional pension plan for employees. Current participants in both the Wells Fargo and Wachovia cash balance plans will retain their accrued benefits and account balances, but will not receive any ...

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retirement

How Long Will It Take Your Nest Egg to Recover?

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Most Americans aren’t expecting their retirement accounts to recover the losses of the past year any time soon. The majority of workers think it will take 4 or more years to recoup market declines or that their 401(k) will never recover, according to a telephone survey of 1,000 adults conducted in ...

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retirement

Survey: Americans Want Pensions Back

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Americans with shrunken nest eggs are feeling nostalgic for pensions. About half of those without a pension (55 percent), say the old-fashioned retirement plan would ease their money worries, according to a National Institute on Retirement Security survey. However, not all workers with pensions are ...

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retirement

10 Cities with Affordable Nursing Homes

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You might want to do something nice for your children today, at least if you plan to seek their help paying for a nursing home. A private room in a skilled nursing facility now costs a median price of $74,208 annually, or about $203 a day, according to a new survey.

If you're willing to share a ...

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retirement