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RETIREMENT NEWS & INFORMATION

News to help plan and enjoy retirement more

Thursday, November 27, 2008

Dept. of Labor Guide to Retirement (PDF) List of Professional Financial Planners

Money and Insurance - Click

Guarding Your Wealth for Seniors - Financial Advice - click here

 

 

Retirement News

Boomers, Seniors Who Need to Stay in Workforce May Find Welcome Mat at Nonprofits

Reports show nonprofit sector growing faster than business or government

Oct. 16, 2008 - In these economic times, boomers will need to work longer, and many say they want a job that provides both money and meaning. The question is - are nonprofit employers interested in hiring employees who have finished their midlife careers? What makes nonprofits more eager - or less - to give encore workers a try?  Read more...

Government May Next Bailout the Fed Program that is Supposed to Bail Out Failed Pension Funds

Finance professor, former presidential economic advisor Jeffrey R. Brown believes troubled Pension Benefit Guaranty Corp. may be next target of a multi-billion-dollar taxpayer bailout

Oct. 15, 2008 - Another multi-billion-dollar taxpayer bailout could lie ahead, this time to rescue a cash-strapped government program that insures pensions of 44 million American workers and retirees, a University of Illinois finance professor warns. Read more...

Online Video Series Looks at How Financial Crisis Impacts Retirees, Others in America

One segment on loss of retirement funds, series visits oldest retirement community in Arizona

Oct. 13, 2008 – An in-depth video series has begun at WashingtonPost.com to help translate how the financial crisis and market turmoil are affecting people across the U.S. The series, “Hard Times,” crafted by Travis Fox, is trying to be a reflection on the economic issues that will be top priority in the presidential election. Read more...

AARP Slams Congress for Failure on Recover Bill, Lists Ten Ways it Hurts Americans

Country ‘grows weary and weakened with every hour and every day that Congress refuses to take action toward protecting home values, retirement dreams and younger generation's opportunities’

Sept. 30, 2008 – AARP released a list of ten ways that the “lack of bipartisanship and decisive action in Congress” yesterday will impact individuals in the U.S., along with a statement from Bill Novelli, CEO, critical of the government’s failure to pass the bill to address the collapse of financial markets in the U.S. Read more...

Features for Senior Citizens

Hi Ho, Hi Ho, It's Back to Work We Go, May Be New Theme Song for Senior Citizens in U.S.

Current financial crisis may force more baby boomers, seniors to stay in or join the workforce; it already getting crowed with these older workers

Sept. 30, 2008 – The collapse of the financial markets will hit many retired senior citizens – as well as baby boomers nearing retirement – especially hard as they see their retirement savings disappear with falling stock prices and failing banks. Certainly, it raises the prospect that more older Americans will remain or return to the workforce. SeniorJournal.com has found a recent report on older workers by the Bureau of Labor Statistics that shows this is already a booming occurrence – workers 65+ are increasing faster than the rest of the workforce. Read more...

Retirement News

Health Care Costs, Economy Pushing Senior Citizens to Bankruptcy and Poverty in the U.S.

"Older Americans are hit by a one-two punch of jobs and medical problems...

Declining economy, increasing healthcare costs and lack of retirement preparedness puts older Americans at risk

Aug. 28, 2008 – The financial plight of the oldest citizens in the U.S. is growing very much worse, according to new studies. One out of every 10 senior citizens is living in poverty and the rate of bankruptcy among those ages 65 and older has more than doubled since 1991. Researchers say the situation is driven by the high cost of health care and weak economy. Read more...

Middle Class Retirees Will Have to Cut Back Says Study for Group Pushing Lifetime Annuities

Americans for Secure Retirement paid for study by Ernst & Young to be released Monday

July 13, 2008 – Nearly three out of five “middle-class retirees” will probably run out of money if they maintain their pre-retirement lifestyles, says a report in the Washington Post today on a study from Ernst & Young that is to be released tomorrow by the sponsoring organization, Americans for Secure Retirement. The group promotes lifetime annuities. Read more...

USA Today Features Reports on Challenges Faced by Senior Citizens from Ballooning Prices

   
 

Seniors at food bank.

 

In depth reports are accompanied with tools and ideas to help seniors survive

July 2, 2008 – USA Today has begun a series of reports focusing on the financial struggle faced by many of America’s senior citizens as they fight to survive ballooning food, gasoline and health care prices on a fixed income. The series on 21st century retirement also includes tips and tools to help seniors make it. Read more...

Only 28 Percent of Workers See Comfortable Retirement in National Poll

Bankrate survey says 33% think they can just get by in retired

  What's your target age for retirement? 'I will work until I die'  

June 23, 2008 – More and more Americans are concerned about their retirement prospects, according to new poll results from Bankrate, Inc., which found last year that many older Americans plan to work until they die. Read more...

Senior Citizen Homes & Communities

Seniors Buying Upscale Park Trailers to Spend Retirement in Vacation Spots

These luxury “Park Models” look more like a cottage than a trailer; seniors have bought 80,000

June 7, 2008 - For many seniors, retirement means downsizing to a smaller home, and perhaps even moving to a less desirable location to save money. Others, however, have found an affordable way to live in some of the most sought after destinations in the country. Some retirees even have winter and summer homes. Read more..

News for Baby Boomers

Retirement Market Booming, Boomers to Keep It Hot for Decades

Almost 18% of American adults are now retired, Florida still top market

March 10, 2008 – The status and demographics of retirees are changing so fast that marketers almost need a monthly snap shot. In the U.S., 17.9% of adults are now retired, according a recent report by The Media Audit. But, that number has increased by 6% in just the last five years. It will climb even faster as the Baby Boomers exit the workforce. Read more...

Senior Citizen Health & Medicine

It’s Never Too Late to Quit Smoking and at Retirement Looks Promising

English researchers say point of retirement is one of the most effective times for many healthy improvements

March 6, 2008 - Many people spend a lifetime trying to give up smoking, but there is good news for older smokers from research carried out at the Peninsula Medical School in South West England. It may work best as part of a healthy retirement. Read more...

Features for Senior Citizens

Survey Finds Nations Unhappy with Retirement Systems; U.S. Pessimistic about Health Care

International poll finds people everywhere unhappy with way things going

Feb. 13, 2008 – A recent survey of the U.S. and five major European allies has found a general sense of pessimism about the way things are going, but the dominant dissatisfaction in all the countries is with the retirement systems. The survey also found Americans, living in the only one of the countries without a national health care system, are the most pessimistic about their country’s health care. Read more...

Medicare News

Senior Citizens Need to Know Medicare's Nursing Home Care is Very Limited

ElderLawAnswers.com says Medicare covers "acute" care as opposed to custodial care

Jan. 18, 2008 - Many people believe that Medicare covers nursing home stays. In fact Medicare's coverage of nursing home care is quite limited. Medicare covers up to 100 days of "skilled nursing care" per illness, but there are a number of requirements that must be met before the nursing home stay will be covered. The result of these requirements is that Medicare recipients are often discharged from a nursing home before they are ready. Read more...

Retirement News

Employers Will Be Allowed to Eliminate Retirement Plans for Retirees at 65 (link to NY Times story)

Dec. 28, 2007 – Employers will be able to discontinue or change health benefits for retirees as they reach age 65, according to a report this week by the New York Times on action by the Equal Employment Opportunity Commission.

"The policy, set forth in a new regulation, allows employers to establish two classes of retirees, with more comprehensive benefits for those under 65 and more limited benefits — or none at all — for those older," writes Times reporter Robert Pear.

More than 10 million retirees rely on employer-sponsored health plans as a primary source of coverage or as a supplement to Medicare, the story says.

Pear reports that Naomi C. Earp, the commission’s chairwoman, said, “This rule will help employers continue to voluntarily provide and maintain these critically important health benefits.”

Premiums for employer-sponsored health insurance rose an average of 6.1 percent this year and have increased 78 percent since 2001, according to surveys by the Kaiser Family Foundation. More at NY Times...

'Retirement' Not in His Vocabulary, Even after 50 Years on the Road

   
 

He is able to work the young guys under the table, says wife, Marsha

 

Larry Bailey, 76, heart attack survivor, great-grandfather is still driving for Mayflower and like so many of today's senior citizens he's not ready to retire

by Casey Ellis
Vice President of Sales & Marketing, Mayflower Transit

Nov. 27, 2007 - Larry Bailey pulls up his red socks as he climbs down from his perch at the driver’s seat of his 67-foot-long Mayflower Transit moving truck. At age 76, Bailey is never without several pairs of his signature socks – he owns 41 pair. Read more...

Traditional Retirement at Age 65 Has Been Retired According to New Poll

Those not yet retired either didn't know when they will retire or do not plan to retire at all

Nov. 14, 2007 - Americans age 50 and over are increasingly disregarding age 65 as the time to stop working - more than 70% believe that keeping experienced workers engaged in society, either through continuing work or volunteering, is very important, according to a new poll. Read more...

Like Mother, Like Daughter? Not When It Comes To Retirement

New Metlife Mature Market study says they don’t see eye-to-eye

May 23, 2007 - A new survey released this month on women and retirement may defy Oscar Wilde's adage that “all women become like their mothers.” It's Not Your Mother's Retirement: The MetLife Study of Women and Generational Differences reports that young women have their own ideas about how they will spend their later years. Read more...

Most Americans Worry About Affording Retirement - Until They Pass 65: Gallup

Even most upper-income households worry about retirement income

May 17, 2007 – Not having enough money for retirement is the number one financial worry of Americans – at least until they pass age 65. This is according to Gallup's annual Personal Finance poll, updated in April, in which Americans were asked to rate the amount of concern they have about each of several financial problems. Read more...

Almost Four of Ten Senior Citizens Plan on Working Until They Die

Brankrate retirement poll finds savings rate low, expectations high

April 23, 2007 – A poll released today found that nearly one out of five Americans plan to work until they die. The percentage is even more dramatic for senior citizens with almost four of 10 seniors surveyed saying they plan on working until their death. The Bankrate.com poll on Americans' attitudes toward retirement also found – as have other polls - people not saving for retirement but not worrying about it either. Read more...

Features for Senior Citizens

Active Recreation Tops Lifestyle Desires for Older Baby Boomers, Senior Citizens

Del Webb survey finds adventure activities emerging for active adults

April 13, 2007 – A new survey of lifestyle interests among a select group of Baby Boomers and senior citizens shows that active recreation, especially adventurous pursuits, such as hiking and river rafting, is emerging as a top interest for these older Americans. It challenges conventional thinking about “senior” recreation, according to Del Webb, the nation's largest builder of active adult communities for people over age 54. Read more...

Retirement News

Companies Reduce Retirement Benefits, But Workers Not Adjusting to Prepare

Workers don’t realize how much Medicare, Medigap insurance, and prescription drugs will cost them in retirement

April 11, 2007 – There is a steady flow of research that keeps finding Americans are not really preparing financially for their retirement years. The new Retirement Confidence Survey, the 17th annual, finds that although companies are reducing retirement benefits, employees are not making adjustments to assure adequate funds for retirement. But, they are still confident they will have enough. Read more...

Women Report More Emotional ‘Distress’ About Retirement Than Do Men

Adults more optimistic about retirement planning but not doing it

April 3, 2007 – When it comes to retirement planning, women worry more than men about financial preparedness, but men nor women show signs of being prepared, according to respondents to Wachovia's latest Retirement Fitness Survey. Read more...

Senior Citizen Couples Retiring in 2007 Need $215,000 to Cover Health Care Costs

Fidelity says rising health costs could consume 50% of Social Security benefit

March 28, 2007 – Senior citizens retiring this year better be able to get their hands on $215,000 to pay for their health care in retirement. This estimate for a 65-year-old couple retiring in 2007 is from Fidelity Investments’ latest health care cost estimate. The amount is 7.5 percent higher than the 2006 estimate of $200,000. Read more...

Americans Say a Secure Retirement Not Possible for Middle Income Families

Only 37 percent in poll say it is possible for most Americans

March 20, 2007 - Nearly half of Americans do not believe it's possible for middle-income families to save for a secure retirement. Another 17 percent aren't sure. That leaves only 37 percent believing middle-income families can save enough to live comfortably in retirement, according to a new survey by Country Insurance & Financial Services. Read more...

Many Retirees Left Work Due to Health, Find Expenses Higher Than Expected

Baby boomers have highest level of financial readiness finds Fidelity survey of working Americans

March 14, 2007 - Two thirds of retirees say their expenses since retirement have either gone up or stayed the same, although the vast majority expected them to go down or at least stay the same. A surprise in the survey was the discovery that most of the retirees say they left work earlier than expected with almost 1 out of 4 saying they were forced to retire because of poor health or a disability. Read more...

First American Beachfront Active Adult Community Going Up on Mexico's Pacific Coast

Luma construction begins in Fall, reservations accepted in April

March 6, 2007 – California's largest non-profit provider of senior living communities is teaming up with a Mexican company to build an exclusive active adult (50+) community on the Mexican Pacific Coast, just north of Puerto Vallarta. To be called Luma, it is billed as the first American-developed, full-ownership, active adult beachfront community in Mexico. Read more...

Government Wants to Allow Companies to End Health Insurance for Retirees at 65

AARP asks - will they next reinstate mandatory retirement

Feb. 28, 2007 - If the government gets its way, companies will be allowed to terminate health care benefits for retirees that have reached age 65, because they qualify for Medicare. The AARP is challenging this proposed rule by the Equal Employment Opportunity Commission in a court of appeals, saying this is age discrimination. Read more...

Senior Citizens Packing Up and Heading Home from Retirement Meccas

USA Today finds a challenge facing communities in North, Midwest

Feb. 26, 2007 – Senior citizens, maybe living longer than they thought, are returning to their home states in the North and Midwest after leaving their homes at retirement for life in Florida or other popular retirement states. These returning now-much-older Americans are less independent than when they left and are creating a challenge for the communities they want to call home, again. This aging 'boomerang' was explored by USA Today. Read more...

Airline Pilots Will Be Allowed to Fly Until 65 if FAA Retirement Rule is Approved

Airline Pilots Against Age Discrimination winning fight to raise retirement from 60

January 30, 2007 - Those who think there is no age discrimination in America might take a look at the battle that has been raging over the possibility of allowing airline pilots to fly after they reach age 60. Today, after a fight that has lasted over 40 years, the Federal Aviation Administration said it will propose to raise the mandatory retirement age for U.S. commercial pilots from 60 to 65. It was a giant victory for a small group of pilots that have been opposed even by their own union. Read more...

Prices Show Some Decline in Florida Existing Home, Condo Sales

Sales down prices up for all 2006, but both decline in December

January 25, 2007 – Florida is the favorite state for senior citizen retirement but despite continued growth in the national retiree population sales of existing homes in Florida were down in 2006. It ended five consecutive record-setting years. But, this slackening demand did not stop sales prices from climbing, although, December numbers indicate sales and prices are dropping. Read more...

Money Matters for Seniors

Three Major Retirement Hazards to Avoid

Retirement can be beginning of new life but there are dangers

By Robert Valentine, TheMoneyAlert.com

January 12, 2007 - Retirement planning is a tricky process, and one that requires careful planning and patience. But even if you have a retirement plan and a clear set of visions and goals, not just financially, but for your lifestyle, it’s important that you be aware of several common missteps that many, even those with a plan, fall victim to. Read more...

Retirement News

Rich Retirees Big Losers, Young Homeowners Big Winners in Inflation

Inflation is also a boon for the government and a tax on foreigners.

December 19, 2006 – During periods of unexpected inflation it is the wealthiest of retirees that are the primary losers and the young, middle-class that are the big winners, reports a new study. Read more...

News for Baby Boomers

Boomers, Young Seniors Nearing Retirement Need Annual Benefits Checkup

Employee Benefit Research offers 10 questions to be answered

December 6, 2006 - The end of the year is a good time for workers - especially baby boomers and younger seniors nearing retirement - to take a close look at their retirement benefits, says Dallas Salisbury, president of the nonpartisan Employee Benefit Research Institute (EBRI) and an expert on retirement issues. He offers a list of ten questions pre-retirees should answer. Read more...

Retirement News

Many Americans Still Plan to Rely on Social Security for Retirement Income

Gap between retirement targets and source of income continues

November 9, 2006 - Despite the common speculation that Social Security and company provided pensions may not be available for Americans when they approach retirement, many still plan to rely on them as significant sources of income when they retire. Nearly one in four Americans indicate they will look to Social Security (23 percent) for their primary source of income during their retirement years, according to a new survey by the Retirement Corporation of America. Read more...

Retirement Planning News

Assisted Living Rates Increase Slightly After Big Jump Last Year

Nearly half of facilities provide dementia care, says MetLife survey.

November 3, 2006 – The cost of assisted living costs in the U.S. rose a modest 2.2 percent this year but that follows a giant 15.1 percent jump in 2005, according to figures released by MetLife Mature Market Institute. Read more...

Retirement News

New Free Online Retirement Calculator Gives Users an R-Score

Interactive site for those turning to Web for retirement planning

October 30, 2006 – A nagging question that hits most Americans, often too late, is how much money do we need for retirement. There is now a new source on the Web to measure retirement readiness. Nationwide Financial Services, Inc. has announced the launch of RetirAbility Check. It is a free, innovative and customized financial resource that enables users to generate a single number — their R-Score, similar to a credit score. Read more...

Guarding Your Wealth for Senior Citizens

Retirement Investing: Forget 4% Guide

Take action now to protect your lifestyle dreams

By Jeffrey D. Voudrie, CFP

October 4, 2006 - Do you want to reduce your standard of living when you retire? Of course not. But if you follow conventional financial planning ‘wisdom’ concerning retirement investing, that’s exactly what you may have to do! Whether you are currently retired or wanting to in the next 5 to 10 years, you must take action now to protect your lifestyle dreams. Read more...

Senior Citizen Opinions & Analysis

Workplace Not Like When We Were There – It's the Corporate Running of the Bulls

By Bill Kalmar, retired

October 3, 2006 - Rather than travel to Pamplona Spain to view the annual Running of the Bulls, one need go no further than the parking lots of our nation's companies. It is here that people described in the company's brochures as our "most important asset" are being herded and unceremoniously directed to their automobiles after years of service. Read more...

Money Matters for Seniors

Retirement Being Redefined by Current Retirees Who Continue to Work

Baby boomers and younger workers have a thing or two to learn from current retirees

By Robert Valentine, Certified Senior Advisor

September 30, 2006 - Will most baby boomers truly retire? The old mainstays of golf, grandkids and travel haven’t been enough to satisfy many retirees from previous generations. With the great amounts of energy and success that exist within the baby boomer generation, retirement isn’t likely to sustain their attention much longer than it did their parents’. Read more...

Retirement News

Big Gap Between Retirement Plans of Today's Workers and Reality of Retirees

Pew Research finds 77% pre-retirees plan to work; only 12% of retirees actually do

September 26, 2006 – The Pew Research Center has discovered a gigantic gap between the retirement plans of current workers and what senior citizens already retired have actually done. For example, Pew found 77 percent of today's workers plan on continuing to work "for pay" after they retire. This does not match with the reality of today's retirees – just 12% are working for pay and only 27% have ever worked after retiring. Read more...

Retirement Living TV Network is On the Air in Some States

National rollout still being planned for later this year

September 7, 2006 - Retirement Living, a new cable television venture created by retirement community developer John Erickson, is now available on CN8, The Comcast Network, in New England and Mid-Atlantic states. It is also providing simultaneous Webcasts at www.cn8.tv. A nationwide rollout of the network is still expected this year. Read more...

Retirement Living Television Network to Launch in September

Initially will serve northeast and then begin nationwide rollout

July 31, 2006 – The booming retirement market is about the have a new source of information available on television. John Erickson, an innovator in retirement communities, is preparing to launch Retirement Living – a new television network designed for people age 62 and older. Read more...

Opinion on Retirement

Five Golden Rules for the Golden Years: Learned in One Year of Retirement

A thoughtful look at finding a rewarding retirement.

By Diann DePasquale, retired educator

July 17, 2006 - “As you get older you have to find new things you want to say.” So replied Martin Scorsese as he was interviewed following his impressive American Masters PBS Special, No Direction Home about Bob Dylan. It was a great show and a powerful example of the workings of a creative genius. Hard to consider Scorsese a senior citizen, but he is just that. And yes, he certainly still has new things he wants to say. For more than a year now, I have been blissfully retired. It has been a time of discovery, and the person I am discovering is me.  Read more...

Opinions of a retiree

Thoughts of a Retiree in His Hammock on a Dog Day Afternoon

By Bill Kalmar, retired

July 12, 2006 - Being retired affords one the opportunity to periodically relax in a hammock on a hot summer afternoon inscribing answers in a cross-world puzzle and contemplating the latest world and local news. While trying to think of a three-letter word for "Thurman of the screen", my thoughts turn to a myriad of topics... Read more...

Retirement News

Retirees Argue Over Money about Same as Before Even with Surprising Cost

Those not retired are not too worried about financial preparation

July 6, 2006 – Most senior citizen retirees say they argue with their spouse/partner over finances about the same as they did before they retired, although more than a third report they have found expenses in retirement to be more than they expected, according to a new Wall Street Journal Online/Harris Interactive Personal Finance Poll. Read more...

Senate Aging Committee Chair Pushes Bills to Help Save for Retirement

Senate aging committee hears testimony on senior citizens savings

June 22, 2006 – Sen. Gordon H. Smith (R-OR), Chairman of the Senate's Special Committee on Aging, used the occasion of a committee hearing on retirement savings for senior citizens to push for passage of his legislation aimed at helping Americans better save for retirement. Read more...

Older Workers May Get Help from New Research Initiative

To study the inclusion of late-career workers in corporations and organizations

June 7, 2006 – Older workers, a growing demographic in the workforce – many passed typical retirement age, often express dissatisfaction with how they are treated by employers and younger workers. There is hope. Building on more than 25 years of research on older workers in the workplace, The Conference Board, is launching an expanded maturing workforce research initiative. Read more...

Retirement Income Market Will Grow Slowly, Says New Study

Financial planners seek more retirement-income tools

June 6, 2006 - Financial planners might need to reconsider their current business model in order to meet the needs of the growing and diverse aging population, according to a new study released yesterday by the Financial Planning Association. Read more...

Retirement Planning

Retiree Healthcare Cost Increases Projected Lower than Active Employees

Despite more double-digit increases healthcare costs moderate

June 1, 2006 - While still reaching double-digit figures, healthcare costs are beginning to increase at a lower rate, according to Aon Consulting, the human capital consulting organization of Aon Corporation. Healthcare rate increases for retiree medical are projected to be lower than active employees, according to the Aon study. During the next 12 months, Medicare Supplement plans are predicted to increase by 11.5 percent and Medicare Advantage plans will likely increase by 10.2 percent. Read more...

Retirement News

Older Workers Underappreciated in Workplace, Says Survey

Baby boomers and senior citizens not considered good source of advice

April 26, 2006 – Three quarters of older, experienced workers – age 55 and older – said they relate well to younger co-workers, but the sentiment is not returned by the young employees – only 56 percent say they relate well to older workers. Even more startling in the new survey: 77 percent of the young workers say their contemporaries do not seek advice and guidance from their seniors. Read more...

Richest Americans Worry Soaring Healthcare Costs Threaten Retirement

Nearly half plan to work in retirement, says national survey

April 17, 2006 – Even millionaires may find financial challenges in retirement, primarily, they say, due to rising health care costs. They also express concern about limits on retirement enjoyment due to personal and spousal health, according to a landmark study, "Wealth in America," conducted by Northern Trust, one of the nation's largest private wealth managers. Read more...

Retirement Plans Filled with Holes for Many Americans

Haven't saved enough and underestimate their needs

April 11, 2006 - A large majority of Americans expect to enjoy a comfortable retirement, but many have not taken the actions needed to turn their aspirations into reality and face the prospect of having to work far longer than they expect, according to the 16th annual Retirement Confidence Survey. The survey, released today, showed many Americans’ retirement expectations are like a piece of Swiss cheese—full of holes. Read more...

Tough Retirement Ahead for Americans Relying on Social Security, Pensions

Almost half expect to fund retirement with S.S. and pensions but for only 10-20 years

April 4, 2006 - Many Americans are headed for tough retirement years and may not be able to maintain their current standard of living, suggests a new poll conducted by Harris Interactive for the American Institute of Certified Public Accountants. The CPAs are also offering free online tools to help with retirement planning. Read more...

Study of Older Americans Finds Retirement More a 'State' Than a 'Date'

Limited savings, longer life conflict with desire for self-employment, part-time work

April 3, 2006 – Older workers today are changing the concept of retirement as they live longer and work well past traditional retirement age - some even returning to the workforce after they "retire" and/or opting for "portfolios" of paid and volunteer positions, according a new MetLife Mature Market Institute study, Living Longer, Working Longer: The Changing Landscape of the Aging Workforce. As an example of the state of retirement, this study says 37 percent of those age 66-70 are either working of looking for work. Read more...

Most Americans Worried About Retirement Costs but Not Preparing

March 19, 2006 – Several recent surveys are pointing to a certain crisis for America as the cost of retirement and health care spirals upward and the financial ability of senior citizens to cope with these costs is inadequate. One survey released this month found more than half of all Americans are worried about their retirement security, yet, 29 percent did not save a dollar last year in preparation. Read more...

Equality in Retirement Income for Women is Focus of Possible Legislation

Senate Aging Committee focuses on financial security for retiring women

March 18, 2006 - A working group to develop "bipartisan legislation" specifically aimed at narrowing the income gap between retired men and women, was announced this week by the Chairman of the Senate's Special Committee on Aging. Read more...

Current Retirees Need at Least $200,000 for Couples Health Care

Fidelity estimate is a 5.3 percent increase over last year

March 17, 2006 – If you are age 65, married, ready to retire and have $200,000 available, you can probably pay for your medical costs in retirement. That is the latest estimate by Fidelity Investments that assumes no employer-provided retiree health coverage and life expectancy of 17 years for a male and 20 years for a female. Others say, however, this estimate is inadequate. Read more...

Eying Boomer Bonanza, States Woo Retirees

Developing innovative ways to attract and keep this healthy, wealthy and relatively young new breed of retirees - and seniors welcome, too

March 7, 2006 - As the baby boom generation starts searching for the perfect place to spend its golden years, states - especially ones not typically considered havens for senior citizens - are touting their quiet communities and unblemished surroundings in hopes of grabbing a share of the retirement pie, according to Stateline.org. Read more...

Money Matters for Seniors

How Much Money is Enough for Retirement?

Calculating your post-retirement income - We’ll show you how

By Robert Valentine, Certified Senior Advisor

Feb. 27, 2006 - “Time waits for no man” – Ancient Proverb. That ancient quote is a great reminder how important it is to start planning for your retirement. Whether we choose to acknowledge it or not, retirement is creeping up on us. Even for those who have just started their career, retirement planning is essential to providing a secure future for themselves and their loved ones. But that doesn’t mean we’re defenseless against time. In fact, with the proper planning, life after work can be the most rewarding years of your life. Read more...

Money Matters for Seniors

Fitting a 401k into Your Retirement Planning

How a 401(k) plan, (which may be employer-matched), could help you fall in love with the thought of a comfortable retirement.

By Robert Valentine, Certified Senior Advisor

Feb. 22, 2006 - There can be a lot of confusing numbers floating around when you try to invest. 529s, 401(k)s, 403(b)s, it can get hectic. One thing which isn’t confusing is knowing you want the opportunity to retire in comfort. Read more...

Money Matters for Seniors

Late Retirement Planning gets Lesson from Olympic Team

1980 U.S. Men’s Hockey Team teaches us about late-stage retirement planning

By Robert Valentine, Certified Senior Advisor,

Jan. 31, 2006 - It was February of 1980, at Madison Square Gardens during the height of the Cold War. It was there, that the U.S. Men’s Olympic Hockey team took on what experts considered the world’s best hockey team at the time: the U.S.S.R. It was an exhibition match meant to be a preview of the upcoming Olympics and the U.S. was trounced, 10-3. Read more...

Pennsylvania Seniors No Longer Receive Reduced Unemployment Pay

Dec. 17, 2005 – As senior citizens live longer healthier lives and struggle to keep up with the cost of health care and energy, more are going back to work. It is making big changes in this country as demonstrated clearly by a law signed yesterday by Pennsylvania Governor Edward G. Rendell that changes unemployment compensation rules to now longer deduct Social Security from the unemployment checks paid to senior citizens. Read more...

Retirement Lasted Less Than Two Years for 7 Million Senior Citizens

Dec. 8, 2005 – Retirement only lasted about one and a half years for seven million American seniors citizens who have now gone back to work, according to a study by Putnam Investments. The researchers also estimate about one-third of all retirees are back at work - most in jobs requiring at least the same skill and experience levels as their prior position. Read more...

Newlywed Retirees are Enjoying Life House Sitting Around the World

Website urges senior retirees to sign up as house sitters for free lodging anywhere

Dec. 6, 2005 - Tony and Margaret Steele-Rijkelijkhuizen have only been married a little less than three years, yet these retirees are not sitting at home twiddling their thumbs. Before their marriage, both Tony and Margaret led very active lives, and they saw no reason why retirement should slow them down. As house sitters, the Steele-Rijkelijkhuizen’s are traveling the world. They recently returned back to their home in the Netherlands from a house sit in Greece. Read more...

Retiring at 55 Increases Death Risk in New Study

Researchers admit poor health may have been reason for early retirement in first place

Oct. 21, 2005 – A study published today indicates men and women who retire early at age 55 have a significantly increased risk of death as compared with those who retire at 65. In this research, death was almost twice as likely in the first 10 years after retirement at age 55 compared with those who continued working. Read more...

U.S. Postal Service Recruiting A Few Good Retirees

Offering part-time positions for rural carriers, postmasters

Oct. 13, 2005 - Everyone needs a day off, a vacation or extra time to tend to special family needs -- including your letter carrier and postmaster. To help keep the mail moving during these times, the U.S. Postal Service is looking for substitute rural carriers and postmasters, a job perfectly suited for retirees, "empty nesters," and others who want to meet new people, get exercise, serve their community, make good money and still have time to do other things. Read more...

Websites Ranked for Best Retirement Investment Help

Oct. 11, 2005 – Looking for help with investing and planning for retirement? The fastest place to look is the Internet but a company that consults about online business says many searchers are coming away dissatisfied with the Web experience. Change Sciences Group today released their ranking of 27 web sites from the perspective of people looking to make sense of retirement investing and planning. Read more...

Older Worker Act Introduced, Gets Key Co-Sponsor

Bill to help seniors, boomers stay in workforce created by Sen. Kohl

Oct. 7, 2005 – Today, Senator Herb Kohl (D-WI), ranking Democrat on the Senate’s Special Committee on Aging, picked up a key co-sponsor of a bill he introduced yesterday aimed at expanding opportunities for older Americans and baby boomers to work longer if they so choose. Senator Thad Cochran (R-MS), chairman of the Senate Appropriations Committee, says he wants to join the Kohl effort. Read more...

Not Ready to Retire? Get Free High-Tech Training to Stay Employed

SBC Foundation funds special OASIS project for workforce development of boomers, seniors

Sept. 28, 2005 – Baby boomers and senior citizens, aged 50 an over, who want to continue working in productive roles beyond the traditional retirement age, can join a new educational program to develop the necessary high-tech skills – if they live in one of the 14 cities being served by a special OASIS program funded by the SBC Foundation. Read more...

Businesses Advised on Opportunities in Aging Workforce

Boomers reaching senior citizen status but not retiring pose challenges

Sept. 20, 2005 – As a clear sign that the aging workforce is a focus of American business, The Conference Board, a leading non-profit research organization for U.S. businesses, released a report today on the challenges and major business opportunity they find in the rapidly aging global workforce. Read more...

Economic Status of Senior Citizens Improves as More Keep Working

Seniors lead nation in leaving poverty, staying on job as old fashioned retirement fades away

By Tucker Sutherland, editor

Sept. 16,2005 - With National Employ Older Workers Week kicking off this Sunday, we looked at some interesting statistics on the economic status of America's senior citizens. There are still serious problems - probably none more pressing than the cost of healthcare and prescription drugs - but the statistics indicate older Americans are making progress. Read more...

Employ Older Workers Week Finds Seniors Needing and Willing to Work

Sept. 16,2005 – National Employ Older Workers week begins on Sunday, and it finds America’s senior citizens are staying in the workforce and doing a better job than any other age group in moving out of poverty. The senior workforce, too, has grown more since 1990 than all other adults. Read more...

Borrowing from the Golden Arches:

Retirement - I’m Lovin’ It!

By Bill Kalmar, retired

Aug. 1, 2005 - Many senior citizens approach their golden years and retirement with trepidation.  Not me.  I retired two years ago after forty years in the business world and am now looking forward to my next forty years in a lifestyle filled with excitement, fulfillment and a schedule of my own making.  Each day is a new adventure and I’m ecstatic to be going along for the ride! Read more...

Portland Is Best City for Senior Citizens Says New Study

July 28, 2005 – Portland, Ore. is the best city in the United States for senior living with Seattle, San Francisco, Milwaukee and Pittsburgh rounding out the top five. Miami, Fla. ranked among the worst, according to a new survey conducted for Bankers Life and Casualty Company. Read more...

Retirement Security Act Promoters Say Momentum Building

Almost 15,000 have signed online petition for Congressional support

July 14, 2005 – Americans for a Secure Retirement, an organization of business and consumer groups, says almost 15,000 people have signed the petition on their Website to urge Congress approve The Retirement Security for Life Act, which they say provides tax incentives to invest in retirement vehicles like annuities. Read more...

Senior Citizens Confident Assets Will Carry Them in Retirement to Age 85

Leaving an inheritance is not a priority for the Silent Generation

June 21, 2005 – The vast majority of senior citizens between the ages of 59 and 71 are confident that have enough money to live comfortably until at least age 85. This study released today refers to this group as the “Silent Generation” and gauges their income and spending patterns in retirement. Read more...

What retirement?

Women Worry About Having Little Gold in Golden Years

Half expect to live final years in poverty, problem worse for women of color

May 13, 2005 – A survey released today says half of American women worry they will live their final years in poverty and expect to work past retirement age. The Heinz Family Philanthropies/Women's Institute for a Secure Retirement (WISER) released the results from the National Women's 2005 Retirement Survey, a comprehensive look at challenges facing American women seeking to provide themselves a secure retirement. Read more...

Senate Aging Committee Will Hear About Working in Retirement

Baseballer Frank Robinson, 70, leads witness list

April 26, 2005 – Washington Nationals manager Frank Robinson, who turns 70 in August, will headline a Senate committee hearing tomorrow on Americans who work past retirement age, according to a report in the Baltimore Sun. You would not know it, however, from the Website for the Senate Select Committee on Aging, which has not issued a news release since February 8. Read more...

Psychologist Target Executives with Retirement Counseling

Says they help corporate leaders adjust from enjoying what they do to who they are

By Tucker Sutherland, editor

April 22, 2005 – It first struck me as odd, then, after more careful consideration, the new psychological counseling program to help senior corporate executives meet the challenges of retirement may have potential. Moore & Associates is targeting the leading edge of baby boomer executives that are now turning 59. Read more...

New Survey

Almost Al Retirees, Baby Boomers Regret Not Doing More to Prepare for Retirement

Baby boomers may have unrealistic expectations about retirement

March 11, 2005 – Almost all retirees (98 percent) regret how they spent their money before retiring and an amazing 97 percent of baby boomers share this regret and are uncomfortable with how much they have accumulated during their pre-retirement years. Still, both senior citizens and boomers continue to overspend and show little concern for rising costs for critical expenses such as healthcare, says a new survey. Read more...

Boomers, Seniors Drive Surge in Vacation Home Buying

Second homes, investment buys were 36 percent of all home sales in 2004

March 1, 2005 – The older baby boomers and senior citizens, more closely identified as persons 55 or older and earning and average of $71,000 per year, were the driving force in a surge of vacation home buying in 2004 – up 16.3 percent from 2003 and 13 percent of all homes bought in 2004. This surge, however, was topped by investment home purchases, which were 23 percent of all sales and up 14.4 percent, according to a new study. Read more...

Best, Cheapest Retirement Investment for Baby Boomers? Exercise!

By Ellen Freudenheim
Author of Looking Forward: An Optimist's Guide to Retirement

Jan. 21, 2005 - People are always talking about investments for retirement. Financial investments, that is. If you start treating your health as an investment, though, you could find that exercise is a terrific retirement strategy worth its weight in gold. Read more...

New Book Tells How to Live Cheaper, Retire Early

Second book by author Fred Brock on retirement tips

Jan. 10, 2005 – An educator says he has found the way to retire early – live cheaper. And, Fred Brock says in promoting his news book, “Live Well on Less Than You Think,” he has five tips on how to live cheaper. More... 1/10/05*

Retiree Security in Employer Plans Strengthened by Labor Department

Jan. 10, 2005 – Labor Department announces actions they say will strengthen the retirement security of the 34 million workers and retirees covered by private, single employer defined benefit pension plans. More... 1/10/05*

Senate Aging Committee

New Medicare Data to be Presented Thursday at Senate Committee

Former Sen. Glenn, Jack Valenti Testified Today on Older Workers

Sept. 20, 2004 – At the hearing of the U.S. Senate Special Committee on Aging today on rules for older workers, Chairman Larry Craig (R-Idaho) announced a special hearing on Thursday to hear updates on the Medicare drug discount card program. More... 9/20/04*

Senate Aging Committee to Revisit Retirement Issues

Sept. 16, 2004 - The Chairman of the U.S. Senate Special Committee on Aging announced today that the committee will hold a second hearing on retirement issues on Monday, September 20, titled, "Breaking the Silver Ceiling: A New Generation of Older Americans Redefining the New Rules of the Workplace." More... 9/16/04*

Chair of Senate Aging Committee Calls for End to Mandatory Retirement of Pilots at 60

Sept. 14, 2004 - U.S. Senator Larry Craig, chairman of the U.S. Senate Special Committee on Aging, said today that protecting the flying public should always be the focus of government. But at the same time he said that the time has come to retire the mandatory rule that requires pilots to retire at age 60. More... 9/14/04*

Greenspan Again Pushing for Higher Retirement Age

Aug. 27, 2004 – Federal Reserve Chief Alan Greenspan was back on the speaking circuit today pushing for Americans to increase the retirement age to meet the pressure that will be applied to the federal budget as it struggles to meet the demands from the boom in the senior citizen population. More... 8/27/04*

Oops! Retirees Short $45 Billion for Basic Expenses by 2030

Middle Income Retirees May Have a Chance, Low Income Women None

Dec. 4, 2003 - If current patterns continue, there will be an annual shortfall of at least $45 billion by 2030 between the amount retired Americans need to cover basic expenses and what they have. More... 12/04/03*

Doctoral Thesis Explores Retirement Community Lifestyles

Sept. 3, 03 –“Retirement is for the living, not the dying,” says Barbara Lancaster, who is pursuing her Ph.D. at Kennedy-Western University.  She is testing the validity of her belief with an internet survey that will be published in her doctoral thesis, “Aging Without Limits – A Visionary Approach to Creating Retirement Community Life-styles.” More... 9/3/03*

Annual Survey

Baby Boomers Worried About Money for Retirement

June 18, 2003 – Seventy-six percent of today’s Baby Boomers are not confident they will have enough money for retirement and 43 percent say they plan on continuing to work. These are some of the findings released today in the annual Baby Boomer Report by Del Webb, the active adult brand of Pulte Homes. Click 6/18/03*

Retirement Income Is Biggest Financial Worry in U.S.

PRINCETON, NJ, April 22, 2003 -- On average, Americans appear more worried about retirement than about any other financial problem. According to a Gallup Poll conducted April 7-9, 54% of Americans say they are either very or somewhat worried about having enough money for retirement. That is the largest percentage of "worry" answers among seven items mentioned -- including paying medical costs, maintaining their current standard of living, and paying credit card bills. Click 4/22/03*

Active Adult (55+) Country Club by Del Webb Going Up Near Phoenix

March 1, 2003 – It is described as a “one-of-a-kind community” by the developers, Pulte Homes' Del Webb brand, and it is Del Webb's first active adult country club for those age 55-plus. Click 3/01/3*

You May Need a Million Bucks to Cover Health Costs After Age 65

Feb. 25, 2003 - Many Americans at or near retirement age would require more than $1 million to prefund medical costs over their remaining life, according to new research from the Employee Benefit Research Institute (EBRI). Click 3/25/03*

Retirement age goes up this year

From Now On, We Don't Get Social Security at 65

Jan. 27, 2003 - Americans born in 1938 will reach age 65 this year but they will have to wait an extra two months to receive Social Security payments. This is the first year of the graduated retirement age for Social Security but Medicare eligibility is still 65. Click 1/27/03*

Help Available for Retires in Choosing a Retirement Community - New Book

Aug. 2002 - There is good news for the seventy-six million "Baby Boomers" born between 1946 and 1964 who are moving toward retirement.  Americans are living longer, healthier and more affluent lives than their grandparents and parents could have imagined. Many of us can choose where we want to spend our retirement. Click 8/30/2*

Equity Index Annuity: Safe Place to Grow Your Money

By Robert Valentine, CSA, SJ Columnist

Would you like an investment that pays gains based on the stock market, yet helps protect your principal when the market declines? Click 8/28/2*

New Life Expectancy Tables from IRS

By Tucker Sutherland, editor

July 23, 2002 - Want an educated guess at how long your are going to live? The Internal Revenue Service’s new table says if you are 111 or older you probably won’t make the year. A newborn has 82.4 more years. Check this table to see how many years you have left. Click 7/23/2*

This table is from a Social Security publication that guides participants on how long to keep funds in their tax-deferred retirement play.

Government Has Website to Help You Learn If You Are Due Benefits

July 19, 2002 - The U.S. government now has a site for your personal use to determine if you are eligible for any government benefits. It is confidential and easy to use. To go to the site and begin your search Click Here to Gov Site

What You Need To Know If You Work Past Age 65: Consumer Reports

July 10, 2002 – Although working beyond the traditional retirement age sounds like a bummer, it has its advantages. Not only can your nest egg grow because you continue to add to your employer's retirement plan, but you may be eligible for employee healthcare coverage to pick up what Medicare won't. Click 7/10/2*

2002 Book on Veteran, Dependent's Benefits Available

FirstGov for Seniors announced that the 2002 edition of "Federal Benefits for Veterans and Dependents" is now available. This booklet lists the variety of federal benefits available to military veterans and their dependents. Topics covered include health care enrollment,  VA claim filing, burial and survivor benefits, and workplace benefits. Download the entire PDF booklet.

Baby Boomers Are The 'Sandwich-ed Generation,' As Financial Obligations Prevent Real Retirement

Dec. 4, 2001 -- Baby Boomers who already feel sandwiched between financial obligations to children and aging parents can look forward to more of the same, plus unprecedented levels of debt for themselves, in retirement. That is the sobering conclusion of the Allstate Financial ``Retirement Reality Check,'' a survey released by Allstate Financial, a business unit of The Allstate Corporation. Click 12/5/1*

Baby Boomers Get an 'F' in Planning for Old Age

July 2, 2001-- A groundbreaking study commissioned by the GE Center for Financial Learning, the leading online resource for objective financial education, has found that most Baby Boomers are unprepared for their long term care needs. In fact, only seven percent have an adequate plan in place. Click to story 7/2/01*

New Long-Term Care Study

A Crisis Even the Greatest Generation Can't Conquer

Many seniors don't understand that Medicare or their Medicare Supplement Insurance won't help them pay for their quickly approaching long-term care needs. This on-going lack of knowledge is a looming liability for Americans that has created a crisis for the entire country. Click to story 6/26/01

How do the Bush Tax Changes Affect Me?

June 1, 2001 -- The landmark tax reform legislation that recently passed both the House and the Senate has major ramifications on what investors should do with their money, and how its invested. click to story & video 6/1/1

Baby Boomers to Face Financial Challenges in Retirement

April 30, 2001 -- Baby boomers' retirement income will be less certain and have fewer guarantees than that of many earlier retirees because of the shift away from ``traditional'' defined benefit pensions, according to a new research report by the nonpartisan Employee Benefit Research Institute (EBRI). click to story *4/30/01

New Investor Education Campaign Offers Free Guide on Promissory Note Fraud

April 12, 2001 - The U.S. securities industry and national regulators today announced a new investor education campaign and made a guide to promissory note fraud available free on the internet. click to story *4/12/01

Distributing Your Retirement Funds Requires Planning - Kit Available 11/16/00*

Nov. 16, 2000 - Most people have paid more attention to the accumulation side of their tax-deferred retirement plans, such as company pension or profit-sharing programs, 401(k)s, and Individual Retirement Accounts (IRAs), than to the distribution side of their plans.

Do You Have Enough $ for Retirement? 11/1/00*

Nov. 1, 2000 - But how will you know when enough is enough? Whatever the answer, experts agree the time to start preparing for retirement is now, and avoiding mistakes while you're doing it. See Real Video

Two Becomes One: Women Alone 10/18/00*

It's the time before a tragedy occurs that a woman should pay attention to the family finances, so that if she's left a widow, she'll be better prepared to make wise investment decisions to secure her family's future. See Real Video

> Retirement Planning for Salaried Workers 6/18/00*

June 18, 2000 - While people at work have many things to think about, retirement planning is fairly low on the "to do" list. Employees will have Social Security and, often, a pension to count on, but that may not be enough.

> Second Mortgage as Revolving Line of Credit 6/6/00*

June 6, 2000 - A revolving line of credit is actually a loan borrowed against the equity built up in a home, sometimes called a home equity loan, or second mortgage. Aside from giving you access to a ready source of cash, the interest incurred is entirely tax-deductible -- something not allowed with credit cards or bank loans.

> Record Prices For Retirement Housing 3/14/00*

> This is a PDF version of the U.S. Dept. of Labor's retirement planning book prepared in 2000, "Savings Fitness: A Guide to Your Money and Your Financial Future."  You can view on screen and save to your computer, if you have Adobe Acrobat installed.

Q&A Social Security

Q&A on Social Security & Medicare - Click Here

Retirement Reference Links 

> Social Security's Retirement Planning

> Wells Fargo Interactive Planner

Retirement Planning Guide by Dept. of Labor

This is a PDF version of the U.S. Dept. of Labor's retirement planning book, "Savings Fitness: A Guide to Your Money and Your Financial Future."  You can view on screen and save to your computer, if you have Adobe Acrobat installed.