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Retirement News from MSNBC

Thu, 13 Dec 2007 14:17:01 GMT

Is work too good to give up?  In our workaholic society, many people’s lives revolve around their jobs. So retirees can be unprepared for what life is really like once they punch that final time card. New Roth 401(k) offers options Refer to the Roth 401(k) and the likely response will either be a blank stare or a correction: “Oh, you mean a Roth IRA.” But the Roth 401k is real and may be the right plan for you. Sooner or later? When to take Social Security While most people take their Social Security benefits before reaching retirement age, it may not be the best choice, especially in the face of increasing life spans.  It's not too late to nurture that nest egg In a perfect world, every 40- or 50-something would have a tidy nest egg. But in real life, other financial priorities often come first. But now's the time to buckle down. Is there really a retirement savings crisis?  Despite warnings of an impending "crisis" when it comes to Americans saving enough for retirement, recent statistics paint a less harsh picture. Boomers aren’t saving enough for retirement Nearly one-third of baby boomers ages 51 to 61 are at risk of not having enough in savings to finance a comfortable retirement, according to a study being released Tuesday by the Center for Retirement Research at Boston College. Help! I haven't saved enough to retire This week, we heard from two readers with radically different approaches to retirement planning. The Answer Desk, by MSNBC.com's John W. Schoen. Boomers put off retiring  As the baby boomers begin to ease into their 60s, most expect to delay retirement longer than their parents or grandparents. That’s good, because many can’t afford to stop working anytime soon. Boomers going bankrupt at faster rate Americans over the age of 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health care costs make them more vulnerable, a new study shows. Retirement saving up, but health an issue American workers shouldn’t count on making up for inadequate savings by planning to work into their retirement years, since such plans are often doomed by unexpected health problems, Fidelity Investments said Monday in releasing findings of a retirement planning survey. Pensions agency reports deficit of $18.1 billion The federal agency that insures private pension plans for millions of Americans logged a deficit of $18.1 billion this year, a big improvement from last year as a new law helped to put the agency on better financial footing. Women urged to chart a financial course Despite becoming more active in their financial planning, American women still tend to take small steps toward ensuring a financially secure retirement, a recent survey has found.  By Vanessa Richardson. Video: Video: Boomers go after fantasy jobs  Oct. 18: In one recent survey, 83 percent of American baby boomers expressed a desire to continue working into their later years, and more than half of those are looking for a new profession. For some, it's a chance to explore their fantasy job. NBC's James Hattori reports. (Nightly News Breakout) Finding, financing the right nursing home  Making a decision to place a loved one in a nursing home can be hard one. But the next steps – finding the best home and figuring out how to pay for it – is even more difficult Video: Women finding it hard to retire  Oct. 10: Fewer and fewer women are reaching retirement age with enough savings to actually afford to retire. NBC's Janet Shamlian reports. (Nightly News) Retirement enrollment rules changing The Bush administration unveiled a proposal Tuesday designed to make it easier for companies to enroll workers in certain pension plans such as 401(k)s, a move supporters hope will improve retirement security for many Americans. New 401k plan rewards for nothing For those overwhelmed into inaction by the prospect of completing 401(k) enrollment forms, Congress just intervened. With last week’s signing of the Pension Protection Act of 2006 it sanctioned what  is called the automatic plan contribution. Bush signs major pension overhaul President Bush on Thursday signed new rules to prod companies into shoring up their pension plans with a tough message for corporate America: “Set aside enough money now.” Life cycle fund investors: Doing it wrong? Life cycle funds that are becoming increasingly popular are meant to make retirement planning easy. But that’s not how investors have been using them. Costs on the rise for retiree health plans Retirees with company-sponsored medical benefits face higher costs, more restrictions and different plan options as their former employers move to curb their spending on such perks, a new study said. Newsweek: A requiem for pensions I want to speak up for the value of corporate pension plans, which are slowly slipping away. The country hardly seems to care.

Retirement News from New York Times

Sat, 05 Jul 08 12:25:17 -0400

When Credit Gets Tight, a 401(k) Loan Becomes Tempting Examining the rationales for supporting or damning the practice of borrowing against a retirement fund can be a useful exercise. Germany: Wish You Were Here A German woman missing from a retirement home for more than two months has been found safe, sunning herself on a beach in the Canary Islands, the German police said. Early Retirees in New Ventures, Mostly for Fun Many of the first wave of America’s baby boomers are taking early retirement and turning their hobbies into small businesses. Very small businesses. Retirees Find the Time May Be Right to Buy There remains a glut of inventory on the housing market in traditional retirement destinations like Florida, Arizona and Nevada. Union Says It and Con Edison Are Far Apart on Contract The two sides appear to be making little headway in negotiations to renew their four-year contract before its expiration at 12:01 a.m. on Sunday. Florida Buying Big Sugar Tract for Everglades The dream of a restored Everglades moved a step closer to reality when the nation’s largest sugarcane producer agreed to sell all of its assets to the state. For a Good Retirement, Find Work. Good Luck. Market forces were expected to ensure that people over 60 could get a job. Turns out ... Finding Solutions, Together For elderly residents, living independently involves mutual support. 8 Reasons You Should Not Expect an Inheritance Costs are rising, retirement income is less secure and the golden years are lasting longer, leaving older people less to bequeath to their heirs. In China’s Medal Factory, Winners Cannot Quit Many athletes who go to special schools are unprepared to leave the sports system that has raised them, critics say. They’re Drawn Back, Once Again, by Stickball For 31 years, on the second Saturday in June, dozens of men and women who lived in the Van Cortlandt Village section of the Bronx in the 1940s and 1950s play stickball at their old school, P.S. 95. A Primer for Young People Starting Their First Job What employee manuals on health insurance, taxes and retirement plans should say, but don’t. Yahoo Shareholders Seek Repeal of Severance Plan An employee severance plan put in place by Yahoo to protect workers after a merger with Microsoft could skew the outcome of a proxy battle, a lawsuit says. After 39 Years, a Police Sergeant Retires Only Because He Must Of the city’s roughly 4,000 sergeants, none has held the rank longer than Sgt. Andrew P. McGoey, who will turn in his badge on Monday. The Seductive Charms of Term Limits Term limits automatically purge the system of rascally politicians, but democracy already vests that power in every voter.