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Planning to Retire

April 2010


7 401(k) Mistakes You’re Probably Making

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The typical 401(k) balance rebounded in 2009. Above average market returns and continued worker and employer contributions caused the average 401(k) balance to climb from $57,150 in 2008 to $70,970 in 2009, according to a recent Hewitt Associates analysis of 3 million employees at 120 large ...

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retirement

Increased Target-Date Fund Disclosures Proposed

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The federal government wants retirement savers to have more information about the risks and benefits of investing in target-date funds. The Labor Department’s Employee Benefits Security Administration (EBSA) announced a proposed amendment yesterday aimed at providing investors with comprehensive ...

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retirement

Baby Boomers Supporting Parents, Adult Children

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Many baby boomers are helping to financially support both their parents and their adult children. Almost a third (31 percent) of relatively wealthy Americans are supporting older and younger immediate family members at the same time, according to a new Merrill Lynch Wealth Management survey of ...

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retirement

Paper Social Security Checks To Be Retired

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Retirees will no longer need to check the mail box for their monthly Social Security check. Paper Social Security payments will soon be retired. The U.S. Department of the Treasury announced this week that new Social Security recipients will be required to collect their due by direct deposit into a ...

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retirement

Talking About Long-Term Care

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Most people approaching retirement age have not discussed long-term care preferences with their spouse or adult children. Many Americans (65 percent) haven’t brought up the topic because they are afraid it will upset family members to talk about the possibility of needing long-term care, according ...

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retirement

Deciding Where to Move in Retirement

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The sun belt was the preferred retirement destination for the parents of the baby boomers. But the favored retirement states among baby boomers are actually North and South Carolina, according to a recent Del Webb survey. Some 36 percent of 50-year-old baby boomers planning to relocate in ...

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retirement

When Do You Become a Senior Citizen?

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There is no clearly defined age when an American becomes a senior citizen. Some people might consider themselves seniors when they are invited to join AARP, qualify for Medicare, or officially retire from the workplace. Some 96 percent of current 50-year-olds don’t consider themselves senior ...

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retirement

Will Workers Without 401(k)s Be Able to Retire?

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If you have access to a 401(k) plan, consider yourself among the more fortunate half of the population. Only about half of Americans have access to any type of retirement plan at work. Unless employees without a 401(k) are saving on their own, they will almost certainly be worse off in retirement ...

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retirement

Americans Idealize Do-It-Yourself Retirement

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Most Americans think that financing retirement is their own responsibility. But that doesn’t necessarily mean that workers feel confident about planning for their own retirement needs.

Some 79 percent of American workers think that an individual should save and plan for their own retirement,

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retirement

7 Retirement Risks You Need to Prepare For

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There are many things that could go wrong with even a carefully planned retirement. Inflation, running out of money, and future stock market slumps are possibilities that all retirement savers need to prepare for. A recent Society of Actuaries survey of 804 people ages 45 to 80 identified older ...

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retirement

More Evidence of 401(k) Match Comeback

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Many companies that cut their 401(k) matches in 2008 and 2009 are planning to bring employer contributions out of retirement. A recent survey of 293 Fidelity 401(k) plans that eliminated or reduced their employer contributions in 2009 found that 44 percent have already reinstated the match or plan ...

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retirement