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Planning to Retire

August 2009


New Investment Options for Your 401(k)

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Just over half of companies have made changes to their 401(k) investment lineups since June 2008. Most employers have both added new funds and eliminated existing funds, according to a small Watson Wyatt survey of 85 senior-level financial executives at large U.S. companies.

The most popular funds ...

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retirement

5 Tips to Maximize Your 401(k) Match

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The median Vanguard 401(k) account balance fell by 14 percent among continuous participants between 2007 and 2008. Ongoing contributions and maximizing your 401(k) match are the best way to recoup those losses. But all 401(k) matches aren’t created equal. Vanguard administered 401(k) plans with ...

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retirement
401(k)

Getting By on $35 a Day in Retirement

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Retirees spend far less money in a typical day than working Americans. A Gallup survey released today asked U.S. consumers to report how much they spent yesterday, excluding normal household bills and major purchases such as homes and cars. Those born before 1930 spent just $35, compared to $50 for ...

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Are Pessimists More Prepared for Retirement?

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Having a pessimistic outlook about life can spill over into your retirement plans. Investors who were determined to be pessimists based on a questionnaire are less likely than optimists to expect a comfortable lifestyle in retirement, according to a recent Fidelity Investments study. Those who see ...

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retirement

Life Expectancy Reaches a New High

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The typical life expectancy in the U.S. reached 77.9 years in 2007. Over the past decade the American lifespan has increased 1.4 years, up from 76.5 in 1997, according to a Centers for Disease Control and Prevention analysis of death certificates in the United States.

Women continue to live longer ...

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retirement

Baby Boomers Still Using Illegal Drugs

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Some baby boomers are continuing to use illicit drugs as they grow older. The number of 50-somethings who say they took drugs within the past year has nearly doubled from 5.1 percent in 2002 to 9.4 percent in 2007, according to a new analysis by the Substance Abuse and Mental Health Services ...

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retirement

To Feel Young, Go West?

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Retirees in the western U.S. say they feel younger than seniors in other parts of the country. Some 78 percent of adults age 65 and older who live in the west say they don't feel old, compared with 67 percent of older adults who live in the rest of the country, according to a recent Pew Research ...

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retirement

401(k) Matches May Return Soon

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For the 401(k) matchless, finally a reason for optimism: Employer contributions to retirement accounts may soon make reappearance. Almost a quarter (24 percent) of employers that eliminated their 401(k) or 403(b) contributions plan to reinstate them within the next 6 months, up significantly from 5 ...

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retirement

Woodstock’s Influence 40 Years Later

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The influence of Woodstock, an upstate N.Y. music festival that took place 40 years ago this weekend, is still being discussed. About 70 percent of Americans age 16 and over remember learning about the 1969 concert in Bethel, N.Y., or have at least heard about it, according to a recent Pew Research ...

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retirement

Fidelity: 401(k)s are Beginning to Recover

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The average Fidelity 401(k) account balance rose 13.5 percent in the second quarter to $53,900. The increase, driven primarily by stock market gains but also due to new worker and employer contributions, follows a 27 percent drop in the average account balance from $69,200 in 2007 to $50,200 in ...

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retirement

Older Worker Unemployment Falls

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For Americans searching for jobs after age 50, finally some hope. The unemployment rate for those age 55 and over decreased from 7 percent in June to 6.7 percent in July, according to the Bureau of Labor Statistics. That’s well below the overall unemployment rate of 9.4 percent in July and ...

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retirement

Still Working After Age 100

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Many baby boomers are going to need to work during the traditional retirement years because they haven’t saved enough. But some seniors work long after their colleagues have exited the workforce simply because they enjoy going to the office each day.

Jack Borden, 101, an attorney in Weatherford,

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retirement

What Do Retirees Do All Day?

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The typical employed person spends 7.6 hours at work each day. When you finally make your exit from the workforce those extra hours can be filled however you wish. Most retirees spend their newfound freedom lingering slightly longer than the total population over food, sleep, and household chores.

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retirement

Retirees Consider Returning to Work

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When many people retire, they don’t plan to give up work forever. Some people who leave the workforce plan to accept a new job if the correct opportunity arises. A new Longevity Alliance and Harris Interactive poll released today found that 43 percent of retirees seriously considered the ...

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retirement

Workers with Pensions Save More in 401(k)

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Workers with a traditional pension can generally get by saving less for retirement because they have a guaranteed stream of income above what Social Security provides. But employees with both a 401(k) and a traditional pension actually save more in their 401(k)s than workers with only a 401(k) or ...

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retirement