RETIREMENT
NEWS & INFORMATION
News to help plan and enjoy
retirement more
Thursday, November 27, 2008
Dept.
of
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Guide
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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...
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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
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Seniors at food bank. |
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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
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What's your target age
for retirement? 'I will work until I die' |
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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
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He is able to work the young guys
under the table, says wife, Marsha |
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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.
|