retirees

Check Out AARP’s Online Social Security Resources

Posted on 08/22/2014 by |AARP Blog Author | Comments

Money & Savings | Your LifeBy  Jean C. Setzfand “How secure do you feel about your retirement?” I may be the only person around using that question as a cocktail-party opener. But even if you’re not constantly surveying everyone you know, it’s likely you’ve seen the recent attention-grabbing headlines about people’s lack of retirement savings. So you won’t be surprised to learn that my unscientific surveys match the more qualified studies, in which folks report feeling “anxious” and “uncertain” about retirement or even that it’s “not possible.” …

Fed Report Paints Dreary Retirement for Some

Posted on 08/11/2014 by |Money and Work | Comments

WorkFive years after the Great Recession, many Americans say they’re still struggling to get by financially. Nineteen percent of adults ages 55 to 64 say they have no retirement savings or pensions to fall back on, according to a survey by the Federal Reserve. Also troubling was that an additional 20 percent of people age 60 and older say they’ve given no thought at all to planning for their retirement. That was also the case for about 19 percent of …

Your New Retirement Number: $58,000

Posted on 08/6/2014 by |Money and Work | Comments

WorkFinancial experts seem to speculate endlessly about boomers’ projected lifestyle in retirement based on their savings and spending patterns. Now a new survey that polled recent retirees about their standard of living has found that, for some, you don’t need a lot of money each year to retire comfortably and live happily. According to the survey by Baltimore-based investment firm T. Rowe Price, recent retirees report living on 66 percent of their pre-retirement income on average — $58,000 annually — and …

Lawmakers Urged to Act Soon to Shore Up Social Security

Posted on 07/28/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe financial outlook for Social Security remains largely unchanged from last year, with the combined trust funds that pay benefits to retirees and workers with disabilities expected to exhaust reserves in 2033, according to a government report released today. After that date, money coming into the system would be enough to cover 77 percent of benefit obligations, according to the Social Security trustees report. At a news conference on Monday afternoon, Treasury Secretary Jack J. Lew said Social Security and Medicare are …

Which Retirement Personality Fits You?

Posted on 06/6/2014 by |Money and Work | Comments

Bulletin Today | WorkThe 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 …

Some Retirees Regret Taking Social Security Early

Posted on 06/5/2014 by |Money and Work | Comments

Bulletin Today | Money & Savings | WorkDeciding when to take Social Security is one of the most important retirement planning decisions people make — and many retirees say they got it wrong. As many as 38 percent of 573 retirees surveyed by the Nationwide Financial Retirement Institute, a unit of Nationwide Mutual Insurance, say they regret taking their benefit early, which locked in their lower monthly payment for life, and wish they had waited. When you look at the differences in their monthly payout, you can understand their remorse. Those …