Retiring Later? Join the Club

The brutal economic downturn that began in 2008 and the subsequent sluggish recovery has thrown a cold splash of reality on many Americans’ dreams of a comfortable, stress-free retirement. So it’s probably not much of a surprise that Americans are now retiring at an older age than they did just a few years ago, and that most of us expect to keep working to age 65 or older. The big surprise, though, according to Gallup’s newly released annual economic and …

Re-Thinking Your Nest Egg

Economic uncertainty and the rough waters of the recession haven’t been kind to any of us – especially as we’ve watched our retirement savings dwindle. In a recent New York Times article on the impact of the recession on planning for retirement, reporter Steven Greenhouse summed up the way many feel: “This wasn’t the way it was supposed to be.” No one would argue with that. Unfortunately, smaller nest eggs are the new normal. And costs for all of us …

Nest Egg Rebound?

Here is an article from Newsweek today on the bounceback of 401(k)s since the stock market has rebounded as of late. However, unfortunately, workers who are very close to retirement have accounts that have less money than they did at the end of 2007 – because their accounts had more to begin with. We’re talking about workers aged 55-64, who have been at their job at least 10 years. It may be ironic, but it also makes mathematical sense. The …