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The 4 Biggest Sources of Retirement Income
Tweet Share on Facebook January 12, 2010 Comment (3)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 has shifted somewhat since 1980. More Americans now continue working past age 65 and fewer people bring in income from assets. Here’s a look at how the biggest sources of retirement income have changed over the past 30 years.
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8 Retirement Gift Ideas
Tweet Share on Facebook January 11, 2010 Comment (7)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.
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More Seniors Eligible for Medicare Prescription Help
Tweet Share on Facebook January 8, 2010 Comment (1)More seniors are now eligible for government help paying their Medicare Part D prescription costs. Changes in Medicare law that went into effect on January 1, 2010 relaxed some of the qualification requirements to receive financial assistance to pay for out-of-pocket drug expenses. The Social Security Administration and Grammy award-winner Chubby Checker launched a campaign today to promote this new “twist" in the Medicare drug program.
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The Pensioners Versus the Pension-less
Tweet Share on Facebook January 6, 2010 Comment (5)The haves and have-nots in retirement will largely be defined by who is offered and best utilizes a retirement plan at work. Only about half of private sector workers had any sort of employer-sponsored retirement plan in a given year between 1979 and 2008, according to a new Center for Retirement Research at Boston College analysis. Many workers also move in and out of retirement plan coverage throughout their career as they change jobs, which leads to smaller retirement payouts than if they consistently participated. Plus, about a third of primarily low-income households are not covered by any sort of retirement plan throughout their entire working life. These people will be entirely dependent on Social Security in retirement.
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6 Problems with Retirement Planning Software
Tweet Share on Facebook January 5, 2010 Comment (6)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. “The results from any program should not be used as the sole input for decision making for retirees or prospective retirees,” the study concludes. Here’s a look at the major problems with retirement planning software the study identified.
