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Planning to Retire

November 2009


Pension Insurer's Deficit Nearly Doubles

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The government agency that insures private sector pensions recently announced that its deficit has almost doubled to $22 billion in fiscal year 2009, up from an $11.2 billion deficit in September 2008. But financial problems at the Pension Benefit Guaranty Corporation have eased somewhat since ...

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retirement

Fidelity: Average 401(k) Balance Rebounds

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The average 401(k) account balance rose to $60,700 as of September 30, up nearly 13 percent from the end of the second quarter, according to a new analysis of Fidelity-administered 401(k) plans. The gains reflect the recent stock market rally, new employee contributions, and enhanced employer ...

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retirement

Drug Prices Outpace Inflation

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Prescription drug prices for medications commonly used by seniors are rising far faster than the costs of other consumer goods and services. The average price of brand name prescriptions typically used by Medicare beneficiaries has increased 9.3 percent since September 2008, up from an 8.7 percent ...

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retirement

Lunch, With a Side of Investment Advice

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Figuring out how to invest for retirement may not make the most relaxing lunchtime conversation. But many seniors seem to be willing to discuss their retirement finances in exchange for a free meal. Approximately 5.9 million Americans age 55 and older have attended a free lunch or dinner seminar in ...

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retirement

Generation Y Optimistic About Retirement

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Members of Generation Y have been saddled with the highest unemployment rate in decades just as they enter the workforce. Those born between 1975 and 1991 also have unprecedented levels of student loan and credit card debt. But there’s one thing they’re feeling pretty optimistic about: retirement.

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retirement

Baby Boomers on the Verge of Retirement

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The majority of baby boomers are white, married, have attended college, own their own home, and are currently employed, according to a new U.S. Census Bureau report released this week. The new analysis of 2006 data is the first profile of this 78 million-member generation in 13 years. Here’s a ...

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retirement

Sticking with Stocks, Even in Retirement

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Retired Americans have less money in the stock market than current workers, but they didn’t abandon equities completely when they left the workforce. Two-thirds of retired investors (67 percent) continue to hold at least some equities in their portfolio, only slightly less than the 75 percent of ...

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retirement

401(k) Savings Limits Stay the Same in 2010

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The maximum contribution limit for 401(k)s and other retirement accounts will stay the same next year, the IRS recently announced. The contribution ceiling will remain $16,500 in 2010. Workers age 50 and older will be able to make catch-up contributions of an additional $5,500 next year, also ...

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retirement

For a Good Night’s Sleep, Retire

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Many Americans lose sleep worrying about how they will pay for retirement expenses. But retirement may actually be a remedy for sleep disorders, according to a study published in the November issue of the journal SLEEP. Researchers found that the removal of work-related stress actually helped ...

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retirement

Half of Laid-Off Workers Raid 401(k)s

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Almost half of laid-off workers succumbed to the temptation of spending their retirement stash last year. Some 46 percent of retirement savers who left their job in 2008 cashed out their 401(k), according to a new Hewitt Associates study of 170,000 401(k) participants who terminated employment last ...

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retirement