Category: Financial -Landing 2013
5/28/2013 - Long-term care: Investigate your options early (USA Today)
by mbeals on May 30, 2013 4:16 pm
Karen Thomas has learned the hard way about the harsh realities of long-term care. Three years ago, her mother was diagnosed with Alzheimer’s and the doctor said she could not return home. “I had never given it a thought that my mom one day would need long-term care,” says Thomas, who lives in Atlanta. “I’m… Read more 5/28/2013 - Long-term care: Investigate your options early (USA Today)
5/28/2013 - IRA Withdrawals: How Much, When, and Other Saving Behavior (EBRI)
by borges on May 28, 2013 5:56 pm
Households between ages 61 and 70 that made withdrawals even though they were not yet required to take IRA distributions (i.e., not subject to the required minimum distribution rules, or RMD) made larger withdrawals than older households, both in absolute dollar amounts as well as a percentage of IRA account balance. Read the full article… Read more 5/28/2013 - IRA Withdrawals: How Much, When, and Other Saving Behavior (EBRI)
5/24/2013 - Low interest rates are the final straw for many company pensions (Washington Post)
by borges on May 28, 2013 5:45 pm
It was no small matter for the ILM Group’s executives when they froze the pension plan that has provided retirement security for the firm’s employees since 1947. The financial pressure of maintaining the plan had been mounting on the small insurer for years. But until March, ILM had not given in, even as tens of… Read more 5/24/2013 - Low interest rates are the final straw for many company pensions (Washington Post)
5/24/2013 - Mortgage giants make it easier for retirees to secure loans (Washington Post)
by borges on May 28, 2013 5:30 pm
Here’s a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren’t sufficient to qualify for a mortgage under today’s tough underwriting standards: Thanks to a rule change by the largest players in the home loan business, you may be able to use imputed income from your 401(k), IRA and other retirement assets… Read more 5/24/2013 - Mortgage giants make it easier for retirees to secure loans (Washington Post)
5/23/2013 - Three in Four U.S. Workers Plan to Work Past Retirement Age (Gallup)
by mbeals on May 23, 2013 4:10 pm
Three-quarters of U.S. adult workers believe they will continue working past retirement age, with 40% saying they will do so because they want to, and 35% because they will have to. A much smaller percentage — 19% — fit the prototypical retirement scenario of someone who plans to stop working at retirement age by choice.… Read more 5/23/2013 - Three in Four U.S. Workers Plan to Work Past Retirement Age (Gallup)
5/21/2013 - Transforming your 401(k) into steady income (Reuters)
by mbeals on May 23, 2013 4:09 pm
A job and a paycheck – they go together like coffee and cream. But when you retire from your regular job, does that mean you have to give up the cream? A growing number of 401(k) plans are including investment choices that can help savers convert nest eggs into retirement income. Participants can buy insurance… Read more 5/21/2013 - Transforming your 401(k) into steady income (Reuters)
5/20/2013 - Senior poverty is much worse than you think (Washington Post)
by borges on May 21, 2013 8:48 pm
One frequent knock on the official poverty rate is that it generally excluded income from some government programs like food stamps and the Earned Income Tax Credit, but included income from others, like Temporary Assistance for Needy Families (TANF) and Social Security. That means people who, if those benefits were treated as cash, wouldn’t be… Read more 5/20/2013 - Senior poverty is much worse than you think (Washington Post)
5/20/2013 - Income, Age Key Factors in Retirement Funding Expectations (Gallup)
by borges on May 20, 2013 5:09 pm
Nonretired Americans’ expectations about which sources they will rely on to fund their retirement differ significantly by their annual household income. Upper-income nonretirees are much more likely to say investments, such as a 401(k), IRA and other retirement savings accounts or individual stock investments, and work-sponsored pension plans will be major sources of their retirement… Read more 5/20/2013 - Income, Age Key Factors in Retirement Funding Expectations (Gallup)
5/17/2013 - Health care in retirement probably costs more than you think (Washington Post)
by borges on May 19, 2013 8:15 pm
When it comes to thinking about how much money we all need to retire comfortably, it gives us a headache. I just need to say that upfront before telling you the latest news, which is sure to scare you even more about retirement. You probably know that health care is likely to be among your… Read more 5/17/2013 - Health care in retirement probably costs more than you think (Washington Post)
5/15/2013 - In U.S., Average Retirement Age Up to 61 (Gallup)
by mbeals on May 16, 2013 7:32 pm
The average age at which U.S. retirees say they actually retired is now at 61, up from 57 in the early 1990s. These results are from Gallup’s annual Economy and Personal Finance survey, conducted April 4-14. The average retirement age has crept up by four years over the past two decades, from 57 in 1991… Read more 5/15/2013 - In U.S., Average Retirement Age Up to 61 (Gallup)
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