retirement

Why Inflation Matters for Social Security

Posted on 12/13/2012 by Jonathan Peterson | Social Security | Comments

Bulletin Today | Money & Savings | PoliticsOne of Social Security’s great strengths is that it offers meaningful protection against inflation. Each year, the program considers how prices are rising [as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers]. If prices go up, the Social Security benefits people have earned tend to be adjusted as well. For a typical household, this protection is huge – a point I tried to emphasize in my book, “Social Security for Dummies.” It helps people keep …

Honest Profiling: Your Best Tool for Moving Overseas

Posted on 12/12/2012 by Suzan Haskins | Retiring Overseas | Comments

Travel | Your LifeMore and more baby boomers are opting for a retirement filled with travel and adventure overseas. How can that be? Especially in a world of rising costs and dwindling savings? Simple. They’re packing their bags and moving to a foreign country where every experience is fresh, exciting and the cost of living is lower. But to get to the point where you shut the door on your life in the States and embrace a new, very different culture and language takes a …

IBM Shifts 401(k) Policy to Once-a-Year Matches

Posted on 12/8/2012 by Associated Press | General News | Comments

Bulletin Today | Money & SavingsBy Mark Jewell and Steve Rothwell, Business Writers, The Associated Press IBM is making changes to its employee benefits that may cause other large corporations to follow suit. The technology company will begin making contributions to employees’ 401(k) accounts in lump-sum annual payments, rather than at the time of each paycheck. It’s a move that will help the company cut retirement plan expenses. Employees were notified this week that matching contributions will be made just once annually, on Dec. 31, …

The Fiscal Cliff: Where’s the Bungee Cord?

Posted on 11/27/2012 by Tamara Lytle | Washington Watch | Comments

Bulletin Today | PoliticsIf the nation goes over the “fiscal cliff,” it could be an especially steep dive for older Americans. If Congress and the White House don’t seal a deal to avert looming tax increases and spending cuts, expect another recession with an estimated 0.5 percent reduction in gross domestic product (adjusted for inflation), warns the nonpartisan Congressional Budget Office. That may not sound like a big deal, but a contraction of the economy isn’t exactly what Americans are hoping for right …

Older Workers’ 401(k) Balances Hitting Record Levels

Posted on 11/9/2012 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkIf you’ve contributed steadily to your 401(k) and didn’t get scared off by the down economy and the wild swings of the stock market, chances are you’re being rewarded now. The average 401(k) balance reached $75,900 at the end of the third quarter, an 18 percent increase over a year ago, a new study by Fidelity Investments has found. That was its highest level since the company began tracking this data 12 years ago. The news was even better for older workers: average balances were higher. …

Single, Female and Want to Retire? This Book’s for You

Posted on 11/3/2012 by Tara Coates | Money | Comments

Money & Savings | WorkSingle, female and hoping to retire soon? AARP’s new book “The Single Woman’s Guide to Retirement” goes beyond the money issues retirement poses to women. See also: AARP’s Retirement Calculator Retirement expert Jan Cullinane offers a comprehensive look at all the factors women need to consider before they retire. AARP: How did you get the idea for this book? JC: I give retirement talks to a wide variety of audiences, and after almost every talk, women would come up to …