Category: Financial -Landing 2013

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2/18/13 - More workers can switch to a Roth 401(k) (USA Today)

by on February 19, 2013 8:46 pm
Buried at the bottom of the Taxpayer Relief Act is a provision that allows more workers to convert their retirement savings into a Roth 401(k). That is an appealing option to consumers who want some of their retirement savings to grow tax-free forever. And for the government, it is a revenue-raiser. “It was thrown in… Read more 2/18/13 - More workers can switch to a Roth 401(k) (USA Today)
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2/17/13 - How to Get to Retirement? Practice! (Wall Street Journal)

by on February 19, 2013 8:44 pm
There has been a steady drumbeat of downbeat news about retirement lately. More than half of us won’t have enough money to maintain our living standards in retirement—even if we work to age 65, about two years past the average retirement age, according to various estimates. No wonder more people are working into their golden… Read more 2/17/13 - How to Get to Retirement? Practice! (Wall Street Journal)
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2/16/13 - Fiscal trouble ahead for most future retirees (Washington Post)

by on February 19, 2013 7:54 pm
For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research. The Great Recession and the weak recovery… Read more 2/16/13 - Fiscal trouble ahead for most future retirees (Washington Post)

2/13/2013 - Obama's Call For Higher Minimum Wage Could Have Ripple Effect (NPR)

by on February 14, 2013 9:15 pm
After more than five years of recession and painfully slow recovery, President Obama has sent a powerful signal that he thinks the U.S. economy is now in much better shape — good enough, at least, to provide workers with raises. Read the full article at NPR.

2/12/2013 - Rising 401(k) Balances Helping Retirements Recover (U.S. News & World Report)

by on February 14, 2013 9:13 pm
Balances in 401(k) accounts are much, much larger among those who have been regular retirement-plan participants in recent years, continuing the recovery from the stock market plunge of 2007. Read the full article at  U.S. News & World Report.

2/11/2013 - Why the White House took the Medicare age off the table (Washington Post)

by on February 14, 2013 9:11 pm
In 2011 and 2012, the White House was open to raising the Medicare eligibility age from 65 to 67. They were open to this for two main reasons. First, they figured that the Affordable Care Act would protect most of the neediest seniors and that employer coverage would protect many of the others, and so… Read more 2/11/2013 - Why the White House took the Medicare age off the table (Washington Post)
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2/10/13 - Complex Investments Prove Risky as Savers Chase Bigger Payoff (New York Times)

by on February 11, 2013 9:41 pm
Regulators across the country are confronting a wave of investor fraud that is saddling retirement savers with steep losses on complex products that until a few years ago were pitched only to the most sophisticated investors. The victims are among the millions of Americans whose mutual funds and stock portfolios plummeted in the wake of… Read more 2/10/13 - Complex Investments Prove Risky as Savers Chase Bigger Payoff (New York Times)
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2/8/13 - Younger generations favor online retirement calculators (BenefitsPro)

by on February 11, 2013 9:39 pm
More than six in 10 retirement plan participants under age 40 say they find online retirement calculators most helpful, new research show. OneAmerica Financial Parnters Inc., Indianapolis, reports this finding in a survey that explores a “digital divide” between older and younger generations in respect to using technology to preparing for retirement. The report shows that… Read more 2/8/13 - Younger generations favor online retirement calculators (BenefitsPro)
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2/7/13 - Coming Soon for Our Own Good: Restrictions on Big Retirement Account Payouts (Time)

by on February 11, 2013 7:34 pm
Why don’t more retirees convert at least some of their nest egg to lifetime income? It’s a question that vexes financial planners and has policymakers scrambling for solutions. For many years, traditional defined-benefit pensions provided millions of people with an income stream they could not outlive. Along with Social Security benefits, this pension income covered… Read more 2/7/13 - Coming Soon for Our Own Good: Restrictions on Big Retirement Account Payouts (Time)

2/6/2013 - For Women, Reduced Access to Long-Term Care Insurance (NY Times)

by on February 7, 2013 9:42 pm
“This was a very, very good business for a short time, with people buying long-term care insurance like it was candy in a candy store,’’ said Michael Perry, a vice president at the Opus Advisory Group, a strategic financial planning firm in Purchase, N.Y. No more. Mr. Perry has sold only one long-term care policy… Read more 2/6/2013 - For Women, Reduced Access to Long-Term Care Insurance (NY Times)