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Planning to Retire

March 2010


401(k) Losses Linger for Young People

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The baby boomer's stock market losses have certainly impaired their ability to retire comfortably. New research suggests that younger people may be even more adversely affected by the stock market drop because they didn’t benefit from earlier bull markets in the 1980s and 90s as fully at the oldest ...

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retirement

Fewer Workers Enrolled in 401(k)s

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The decline of traditional pensions and rise of 401(k) and profit-sharing retirement plans continued in 2009. There was a net loss of 50 traditional pensions and a net gain of 84 defined contribution plans in fiscal year 2009, according to Internal Revenue Service data released this month. However,

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retirement

30 Fast-Growing Careers for Older Workers

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Many seniors are going to need to continue to work to finance their retirement years. A new report predicts which industries will be the most likely to create new jobs and hire older workers. Most of the job growth will be in what Northeastern University researchers Barry Bluestone and Mark Melnik ...

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retirement

More Extended Families Living Together

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The dismal economy has changed American attitudes about living with their extended family. A record 49 million Americans - or about 16 percent of the total U.S. population - lived in a household with two or more adult generations in 2008, up 2.6 million from 2007, according to a new Pew Research ...

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retirement

3 Jobs with Generous Retirement Benefits

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Employer contributions to 401(k)s and pensions can have a huge impact on your ability to retire. But there’s no standard amount that companies pay their workers for retirement benefits. 401(k) and pension contributions at private sector companies ranged from $4.22 an hour in the utilities industry ...

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retirement

Who Should Convert an IRA to a Roth IRA

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Beginning this year all workers have the option to convert a traditional IRA to a Roth IRA. In previous years conversions were restricted to employees who earned less than $100,000 annually. The removal of the income restriction has increased interest in this financial maneuver. Seven times more ...

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retirement

Get Ready to Reduce Retirement Expenses

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Many Americans haven’t saved enough to finance more than a year or two of retirement. Some 42 percent of workers age 45 and older have total savings and investments worth less than $25,000, excluding the value of their home and traditional pension plan, according to a recent Employee Benefit ...

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retirement

Saving for Retirement Beyond a 401(k)

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Most workers do at least some of their retirement saving outside of a 401(k). Only 14 percent of current workers save for retirement using only an employer-sponsored retirement account, according to a recent survey of 1,067 employees by Principal Financial Group and Harris Interactive. Most ...

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retirement

How Changing Jobs Affects Your Retirement Savings

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Frequently switching jobs can make it more difficult to save for retirement. If you don’t stay with the company for a specified number of years, you may not be able to take any or only a fraction of the 401(k) match with you when you leave. There may also be a waiting period before you can join a ...

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retirement

5 Ways Retirement Expectations Are Changing

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Few Americans have great expectations for their retirement. Just 16 percent of current workers say they are very confident about having enough money for a comfortable retirement, according to an Employee Benefit Research Institute and Mathew Greenwald and Associates survey released today.

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retirement

Setting a Retirement Savings Goal

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Most Americans aren’t savings as much for retirement as they think they should. The most common amount to save in a 401(k) is between 1 and 9 percent of pay, according to a recent Charles Schwab and Kelton Research survey. But while 40 percent of workers say they are tucking away that amount from ...

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retirement

Older Worker Unemployment Soars Over a Decade

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The 21st century has not been kind to older workers. The number of unemployed Americans age 55 and older has increased 331 percent between January 2000 and December 2009, according to a new AARP Public Policy Institute analysis of Bureau of Labor Statistics data. Unemployment increased by 235 ...

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retirement

Senate Rejects $250 Social Security Boost

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Retirees will not receive an extra $250 Social Security payment this year. The Senate voted 47 to 50 yesterday against sending seniors an additional one-time check.

President Obama called for the $250 payment for seniors, veterans, and people with disabilities in October shortly after the Social ...

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retirement

Most Older Workers Have a Younger Boss

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Many Americans now work for a younger manager. Just over half (53 percent) of workers age 45 and older and 69 percent of employees age 55 and older have a supervisor who is younger than them, a recent CareerBuilder survey of 5,231 full time employees found.

But having a younger boss doesn’t seem to ...

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retirement