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Planning to Retire

October 2009


Study: Delaying Retirement Improves Your Health

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Seniors who work part-time during their retirement years may stay healthy longer, suggests a new study released this week. Retirees who remained employed, but reduced their hours, experienced fewer major diseases and were self-sufficient longer than those who abruptly retired.

The physical health ...

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retirement

No Social Security Increase in 2010

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Retirees will not receive a Social Security cost-of-living increase in 2010, the Social Security Administration announced today. This will be the first year without a boost in Social Security payments since automatic increases for inflation went into effect in 1975.

Social Security payments are ...

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retirement

Higher Medicare Part D Deductibles Next Year

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Seniors get an opportunity to shop around for new prescription drug coverage once a year and can potentially switch into a lower cost plan. Each state will have 39 or more prescription drug plans to choose from in 2010, each with different prices and coverage options. In Florida, for example,

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retirement

Calling Your Retirement Adviser Via Bar Code

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A new advertisement is encouraging investors to connect with a retirement adviser by scanning a bar code with their phone. The TIAA-CREF ad campaign invites smartphone users to take a picture of a black and white square, which will connect them with an investment consultant.

The Quick Response bar ...

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retirement

Work is the New Retirement

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Forget about early retirement. Most Americans now plan to stay employed as long as they are able to work or can hold on to a job. A recent Bankrate, Inc. and Princeton Survey Research Associates International phone survey of 1,003 adults age 18 or older conduced in September found that 75 percent ...

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retirement

How Your 401(k) Investments Stack Up

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The bulk of 401(k) assets are invested in stocks. At the end of 2008, 56 percent of 401(k) participants’ savings was invested in the stock market including equity funds, the equity portion of balanced funds, and company stock, according to a new report released yesterday by the Employee Benefit ...

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retirement

A Tax Saving Tip for Retirees

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Retirees over age 70½ normally must take required minimum distributions from their retirement accounts and pay income tax on the withdrawal. But for 2009 only, retirees don’t need to take any withdrawals from their retirement accounts. The Worker, Retiree, and Employer Recovery Act of 2008 ...

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retirement

Americans Working Part-Time After Age 65

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Don’t count on full-time retirement, even after age 65. About 15.5 percent of Americans age 65 and older were still working in 2008, according to recently released data from the Census Bureau’s American Community Survey. Most of those seniors (62 percent) have cut back to part-time work. But over a ...

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retirement

The Recession’s Toll on Retirement

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Falling home prices, financial market losses, and layoffs have come at the worst possible time for workers on the verge of retirement. But the recession is also eroding retirement security in smaller ways that can add up.

Many Americans between the ages of 45 and 64 have escaped layoffs only to have ...

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retirement