Which Retirement Personality Fits You?

The notion of retirement, in which decades are devoted solely to leisurely pursuits, is evolving. In the future we’ll be hard-pressed to find older folks perpetually lazing on the beach, taking up their days with golf or tennis, or lounging around the house. Instead, most retirees will be working. At least, that’s one of the findings from a new Merrill Lynch/Bank of America survey of 7,078 people, including 1,856 working retirees and about 5,000 who are nearing retirement or retired …

Three Generations, Three Different Retirements

So it seems that boomers and the Generation X that followed them believe a traditional retirement, the kind where you clock out of the job permanently at age 65 to travel, play golf, visit the grandkids or relocate to a sunnier destination, isn’t in their future. Yet Millennials, the oldest among them in their mid 30s, are much more hopeful. They predict they’ll retire at or before they reach their mid 60s, according to a survey released Wednesday by the nonprofit …

Should Older Workers Have to Pay More for Their Pensions?

You’ve undoubtedly heard the advice again and again: If you are close to retirement age, you should max out your contributions to employer-sponsored retirement plans. But requiring older employees to contribute more than younger ones to a pension fund is another matter entirely, a federal appeals court in Baltimore held last week. “Certain older Baltimore County employees were forced to pay more for their pensions than younger co-workers,” David Lopez, the general counsel of the Equal Employment Opportunity Commission, said …

Bogus Bank Calls Are Back

Don’t “bank on the authenticity of phone calls or text messages that claim to be from your financial institution, warning that there’s a problem with your account, debit card or credit card. This old scam is back, with a new wave of these bogus bank alerts. In the past week, according to news reports, thousands of people have been targeted in at least five states — Georgia, Kentucky, Massachusetts, Minnesota and Missouri. But there could be many more. The scam works …

There is Nothing ‘Fuzzy’ About Social Security Benefits’ Positive Impact on the Economy

The idea that Social Security benefit payments help support local and state economies and the national economy is obvious to all 57 million beneficiaries who spend their dollars at stores and to the merchants who sell them goods and services. But it is not obvious to many in Washington. In a town focused only on what Social Security payments mean for the federal budget, a new report by AARP’s Public Policy Institute highlights, in actual dollars and jobs, what Social …

Eudaimonia, Hedonism, and Happiness, Oh My!

Everyone wants to be happy — it’s a no-brainer. But what is happiness? The Greek word for happiness is “eudaimonia” which means “having a guiding angel.” In 1776, the Founding Fathers felt it important enough to mention the” pursuit of happiness” in the Declaration of Independence. By the 19th century, economists felt they could measure happiness in units of pleasure, but they learned that money could not buy happiness because a person with twice as much income as another was …