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Planning to Retire

December 2010


5 Frugal Holiday Strategies for Retirees

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Almost half of retirees (47 percent) plan to spend between $101 and $500 this holiday season. But only 15 percent of seniors plan to spend $100 or less, according to a recent Harris Interactive online survey of 528 retirees age 60 and over commissioned by Principal Financial Group. Many of the ...

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Workers Fall Short of Retirement Savings Goals

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The typical American estimates that they will need to save a median of $300,000 to retire comfortably. But most retirement investors say their nest egg is currently comprised of a median of just $20,000, or about 6.7 percent of their retirement goal, according to a recent Wells Fargo survey of ...

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Staying at a Job for the Retirement Plan

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Many workers take into consideration an employer’s retirement plan when making decisions about where to work and how long to stay at their current company. Some 41 percent of employees say retirement benefits are compelling them to stay with their current employer, according to a Towers Watson ...

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retirement

Employers Slow to Allow Roth 401(k) Conversions

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Employees can convert their traditional 401(k) or 403(b) accounts to a Roth account in the same plan beginning this year. But, so far, few companies have amended their plans to offer the conversion option.

A Roth account allows retirement savers to pay income tax on deposits up front. Pre-paying the ...

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retirement

10 Cities Where Boomers are Ready to Retire

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Workers on the verge of retirement in Minneapolis and St. Paul are the most prepared to retire, while those residing in Los Angeles are the least, according to a recent Ameriprise Financial and Harris Interactive survey. The online survey of 10,028 adults ages 40 to 75 in 30 metropolitan areas took ...

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Social Security Payback Option Eliminated

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Retirees will no longer be able to get an interest-free loan from the Social Security trust fund, the Social Security Administration announced today. Effective on December 8, retirees will not be able to pay back benefits already received in exchange for higher Social Security payments going ...

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retirement

Most Workers Plan to Claim Social Security Early

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Social Security checks are reduced if you claim before your full retirement age. For most current working Americans that’s age 66 or 67. But many workers don’t want to or are unable to wait until then to collect their payments. The majority of current employees are planning to claim a smaller ...

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retirement

New Target-Date Fund Disclosures Proposed

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The Labor Department proposed a rule this week that would require new disclosures about how target-date funds work. The regulation would require 401(k) plan sponsors to explain how the target-date fund’s mix of stocks, bonds, and cash will change over time and when the fund will reach its most ...

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retirement