According to U.S. News Money, workers who havenäó»t saved enough to retire have three choices: work longer, save more, or reduce their standard of living in retirement.æ When workers were given these three choices, most said they would delay retirement and continue to save rather than cut costs, according to...
Tag: baby boomers retirement
People Aware of LTC Costs but Have No Real Plan to Finance
The Lincoln Financial Life Stages Survey: Long- term care, a survey of 1,002 Americans, was recently released. Most respondents were aware of forecasts predicting a dramatic rise in the number of Americans needing care. Few admitted to being truly prepared. People also understand that costs of care will seriously affect...
Ninety-Two Percent of Female Retirees Not Planning Long-Term for Retirement
A new report from the Society of Actuaries (SOA) shows that while half of women will likely live beyond age 85, 92 percent do not plan far enough in the future to cover the 20 some years between retirement and life expectancy. Actuaries say that an understanding of post-retirement risks...
Where You Live May Impact How You Retire
Ameriprise Financial’s New Retirement Mindscape¬ 2010 City Pulse Index examined the 30 largest U.S. metropolitan areas to determine where consumers are the most prepared for and confident about retirement. Minneapolis-St. Paul claimed the top spot on the retirement readiness index, followed by Raleigh-Durham (#2) and Nashville (#3); Los Angeles (#30)...
Have an Extra Quarter Million – You’ll Need It to Cover HC Costs in Retirement
The nonpartisan Employee Benefit Research Institute (EBRI) has released new figures on what retirees need to have in their nest egg in order to fund their health care costs assuming they retire at 65. Men retiring in 2010 will need anywhere from $65,000-$109,000 in savings to cover health insurance premiums...
NC Boomers Fat and Flat Broke
There is an article in the Charlotte Observer today entitled Some N.C. boomers: Fat and flat broke. Worth a read because I am sure that it applies to more than just N.C. boomers. Some of the highlights: Those among the first decade of boomers – now at retirement age or...
NBC Reaches Out to Boomers
You may want to check out NBC’s effort to reach the boomer and senior population with useful information. LifeGoesStrong.com is described as a site for mid-lifers who are living well and still going strong. They are aiming to provide the best information for the 45-65 set with a focus on...
Young Adults Think They May Never Retire
One of the platforms I stand for is to educate people about aging issues sooner in life so that they do not become a crisis situation later. So this study is of interest. According to the Northwestern Mutual Foundation’s financial literacy Web site, most young adults think they’ll need to...
No Country for Young Men
I just read an article today by Megan McArdle that looks at the Baby Boomers’ retirement and how it will change the texture of society. It is one of the best articles I have read on the subject. Check it out here.