Category: Financial -Landing 2013

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7/22/2013 - Health care: Pay less out-of-pocket in retirement (MarketWatch)

by on July 25, 2013 4:46 pm
Most people nearing retirement underestimate what it will cost to pay for health care. According to Fidelity’s annual survey on health care costs, a 65-year-old couple retiring in 2013 would need an estimated $220,000 to cover their health care in retirement. Read the full article at MarketWatch.
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7/19/2013 - Is $1 Million Enough to Retire? (Next Avenue)

by on July 23, 2013 4:00 pm
The New York Times recently published an article headlined “For Retirees, a Million-Dollar Illusion,” which questioned whether $1 million in savings is enough to retire on, given today’s low interest rates and stock market volatility, the potential for inflation and increased life spans. The article sparked a media frenzy – how could $1 million not… Read more 7/19/2013 - Is $1 Million Enough to Retire? (Next Avenue)
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7/19/2013 - Two more yeras before labor market normal: Fed paper (Reuters)

by on July 22, 2013 5:15 pm
It could take another two years before the labor market returns to normal, according to research by the Federal Reserve Bank of Kansas City released on Friday, underscoring how far the economy must still go to regain full health. The report uses a broad array of 23 labor market indicators, such as long-term employment and… Read more 7/19/2013 - Two more yeras before labor market normal: Fed paper (Reuters)
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7/19/2013 - Detroit Gap Reveals Industry Dispute on Pension Math (New York Times)

by on July 22, 2013 5:08 pm
Until mid-June, there was one ray of hope in Detroit’s gathering storm: For all the city’s problems, its pension fund was in pretty good shape. If the city went under, its thousands of retired clerks, police officers, bus drivers and other workers would still be safe. Then came bad news. Seemingly out of nowhere, a… Read more 7/19/2013 - Detroit Gap Reveals Industry Dispute on Pension Math (New York Times)
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7/19/2013 - Reverse mortgages can be hazardous to seniors' financial health (Los Angeles Times)

by on July 22, 2013 5:05 pm
Call it the estate-devouring, nightmare home loan you hope to never encounter: a reverse mortgage with a base interest rate of 9.95%, plus a 50% share for the lender of increases in value of the house after closing, plus a 2% “maturity fee” to sweeten the payout even more. On top of that, there’s a… Read more 7/19/2013 - Reverse mortgages can be hazardous to seniors' financial health (Los Angeles Times)
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7/17/2013 - Consumers Make Gut-Based Financial Decisions (MediaPost)

by on July 18, 2013 6:49 pm
Researchers find that financial decisions are influenced more by people’s subjective feeling of how much they know than what they actually know about potential investments, according to a new set of studies. A paper that appears in the June 2013 issue of the American Marketing Association’s Journal of Marketing Research shows that people are more… Read more 7/17/2013 - Consumers Make Gut-Based Financial Decisions (MediaPost)
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7/16/2013 - Working women and their impact on Social Security benefits (Investment News)

by on July 18, 2013 4:52 pm
Here’s a stunning statement: While an increase in women’s workforce participation and average earnings has boosted the income of many American families, it has also reduced household retirement income replacement rates from Social Security. Read the full article at Investment News.
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7/16/2013 - Where Are Baby Boomers Going to Live? (US News & World Report)

by on July 16, 2013 6:24 pm
There are many recommendations for the best places for baby boomers to retire, including the healthiest places, sunniest places, best places overseas, the most affordable places and the best places that you probably can’t afford. But people are funny. Sometimes they just don’t do what the pundits tell them to do. So where are baby… Read more 7/16/2013 - Where Are Baby Boomers Going to Live? (US News & World Report)
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7/15/2013 - A smart strategy for collecting Social Security (CBS MoneyWatch)

by on July 15, 2013 4:38 pm
Social Security benefits provide a significant proportion of retirement income for most Americans. Federal data shows that the government program provides 50 percent or more of all income for almost two-thirds of retirees, and 90 percent or more of all income for a little more than one-third of retirees. One key takeaway in these stats:… Read more 7/15/2013 - A smart strategy for collecting Social Security (CBS MoneyWatch)
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7/10/2013 - Small business owners neglect retirement savings (CBS MoneyWatch)

by on July 11, 2013 6:35 pm
For many small business owners, the golden years aren’t looking so shiny. Many have devoted so much time and money to their businesses that they have failed to plan for retirement. Catch-up plans for these owners usually consist of aggressively putting money aside, or taking another big risk: planning to sell their companies one day… Read more 7/10/2013 - Small business owners neglect retirement savings (CBS MoneyWatch)