The New Older Workers: Women

The U.S. workforce has been turned on its (graying) head. New research finds that workers at or near retirement age are taking up a bigger share of the labor pool – a trend that’s driven mainly by women. And in this ever-evolving jobs landscape, older men and women are projected to be working more in the next decade. Using the latest Census Bureau data, the Washington-based Employee Benefit Research Institute looked at workers’ labor force participation rates over the last four …

A Simple Income Disclosure Makes Retirement Planning Easier

How much in retirement savings do I need for a secure retirement? Is $100,000 enough? How about $700,000? Even more importantly, how much monthly income can I count on those savings providing to supplement my Social Security benefits?  These are questions most of us have no idea how to answer.   A soon-to-be-proposed regulation from the Department of Labor should help. It would require that statements from 401(k)-type accounts provide an estimate of monthly retirement income from savings in the …

Would You Swap Pay for Retirement Income?

Would you be willing to give up a portion of your salary if it meant having guaranteed income in retirement? A vast majority of you said yes. That sentiment, and other concerns, were revealed in a new study that underscores just how vulnerable American workers feel about being solely responsible for their financial well-being in retirement. Of some 1,000 workers surveyed, four in five say they’d sacrifice 5 percent or more of their salary if it meant having reliable income …

Social Security Benefit Cuts Would Have Terrible, Horrible, No Good, Very Bad Impact on Women

The Social Security benefit cut known as Chained CPI remains a piece of the deficit puzzle for reasons that baffle conservatives, veterans, progressives, and almost everyone in between.  The $85 billion in sequester cuts for 2013 have begun and many in Washington have still said they’re willing to cut the modest Social Security benefits we’ve earned by $127 billion over 10 years, even though Social Security by law remains separate from the budget and its deficit.  Let’s give every woman …

Living Expenses Confound Boomers Nearing Retirement

Retirement may be a stone’s throw away for older boomers but a survey finds that many are in the dark about how much it’ll take to fund their golden years. Two-thirds of about 1,100 respondents aged 55-60, and one-third of those 61-65, say they’re not certain how much money they’ll need to cover basic living expenses once they stop working. The findings of the Transition Boomers and Retirement Income Survey, conducted in June by Allianz Life Insurance Company of North America, seemed …

The Takeaway: Number of Americans Taking Social Security Early Hits 35-Year Low

In 2011, the number of Americans taking early Social Security benefits dropped to a 35-year low, according to a new report from the Urban Institute. For the second consecutive year, those taking benefits fell (to 27% of the number of eligible older adults). That’s down from 31% in 2009, reestablishing a 12-year downward trend interrupted only by the recent recession.