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Investment Advice for Upper-Middle-Income Retirees
Tweet Share on Facebook December 3, 2010 Comment (1)Upper-middle-income retirees can look forward to financially secure retirements. Most can cover essentials with little worry and have money left for travel and other discretionary items, according to advisory profiles of representative retirees prepared by the Society of Actuaries (SOA). Couples are better-positioned than single retirees, who are more exposed to unexpected healthcare expenses. Here are details of three SOA profiles for upper middle income retirees—a couple, a man, and a woman, all age 70.
There are common SOA assumptions underlying the profiles:
• Retirement age and the age of taking Social Security are both 66.
• Current income includes earned income, Social Security benefits, defined benefit pension income, required minimum distributions, and investment income.
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6 Tips for Judging Tax and Spending Reforms
Tweet Share on Facebook December 2, 2010 CommentThe final report of President Obama's deficit-reduction commission has been released, and it continues to be the document that no one really likes. It has a lot more detail than a draft report issued earlier by its co-chairs, Erskine Bowles and Alan Simpson. But the report's call for widespread cuts in federal spending remain in place, including changes that would reduce Social Security benefits and increase consumer costs for Medicare.
[In Pictures: 10 Tips for Retirement Overseas.]
If nothing else, Bowles and Simpson deserve gold stars for, in the words of the late sportscaster Howard Cosell, telling it like it is. Here's my favorite line from their report, which they titled "The Moment of Truth": "After all the talk about debt and deficits, it is long past time for America's leaders to put up or shut up."
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Retirement Advice for Middle-Income Retirees
Tweet Share on Facebook December 2, 2010 Comment (2)The squeeze is on for representative middle-income retirees. Most are living on little besides Social Security and don't have much flexibility in their retirement finances, according to a series of advisory profiles prepared by the Society of Actuaries (SOA). Couples are better-positioned than single retirees, who are more exposed to unexpected retirement expenses, particularly for healthcare. Here are details of three SOA profiles for middle income retirees—a couple, a man, and a woman, all age 70.
[See 10 Costs That Could Increase in Retirement.]
There are common SOA assumptions underlying the profiles:
• Retirement age and the age of taking Social Security are both 66.
• Current income includes earned income, Social Security benefits, defined benefit pension income, required minimum distributions, and investment income.
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Retirement Advice for Upper-Middle-Income Preretirees
Tweet Share on Facebook December 1, 2010 Comment (1)Upper-middle-income people getting ready for retirement should be relatively well-positioned, particularly if they have pensions. They might consider extending their working lives if they want additional travel and non-basics in retirement, according to a series of advisory profiles of representative preretirees prepared by the Society of Actuaries (SOA). Couples are better-positioned than single preretirees, who are more exposed to unexpected expenses, particularly for long-term care. Here are details of three SOA profiles for upper-middle-income preretirees—a couple, a man, and a woman, all age 60.
[See Retirement Advice for Middle-Income Preretirees.]
There are common SOA assumptions underlying the profiles:
• Retirement age and the age of taking Social Security are both 66.
• Current income includes earned income, Social Security benefits, defined benefit pension income, required minimum distributions, and investment income.
