How Much Do You Need to Retire? Ask Your Employer.

Unless you’ve saved  11 times your final pay ($550,000 if you were earning $50,000), don’t even think about retiring. And because few of us haven’t saved close to that, a growing number of employers are making it a bigger priority to help their workers plan adequately for retirement, a new survey says. As pension plans vanish and 401(k)s gyrate with the stock market, we know too well that workers are under more pressure than ever to save for their future. So Aon …

Meet This $50,000 Retirement Contest Winner

“Learning about retirement planning has never been so much FUN!” Fun? Some people might use other “f” words. Maybe winning $50,000 would help change your mind. It was a game-changer for one woman (more on her in a minute). For many, retirement planning falls between somewhat intimidating to downright frustrating, or maybe even depressing – especially if you are, or have been, out of work. Those are just a few reasons why AARP’s financial security education team decided to inject some …

Retirement Planning Gets Tough for Some Workers

As if retirement planning wasn’t challenging enough, employees of at least two big companies are facing difficult news this holiday season. Workers at Hostess are wondering how they’ll make do without the full pensions they’d counted on in retirement since the company underfunded its employees’ pension plan by at least $55 million. (Some reports put that amount as high as $2 billion.) The makers of Twinkies used that money to keep the business operating. But after a labor dispute, Hostess announced …

In Sync on Finances: Not Parents and Adult Kids

No one wants to be a burden on their kids in retirement. But how parents and their adult children view some of the more pressing issues that aging brings – such as caring for sick elders or helping them financially during their retirement years – seems to be in conflict. Fidelity Investments asked 975 parents age 55 and older, and their adult children age 30 and up, whether the two generations talked in-depth about issues related to health and money …

I’m Taking Away Your Allowance

Q: My husband will not quit spending. He has purchased several vehicles, only to trade them in for less than we owed on them. During our 18-year marriage, we have refinanced our house six times to pay off loans and credit cards. When we refinanced this last time, I refused to pay any of his credit cards or loans off. I would not have even considered refinancing again, but the low rates were appealing. That was 21/2 years ago. I …

Check the Math: Social Security Is a Good Deal

It’s a question lots of people have about Social Security: Do you get back as much as you put in? But this question only gets at part of the story: Social Security is a kind of insurance, not just an investment. It protects you and your family from things nobody wants to think about — death and disability. In other words, it contributes to well being and peace of mind in ways that may be impossible to measure. A few …