A Millennial’s Hard Look at Grandparents’ Generation

Taking too long at the checkout line or driving too slowly? Many seniors may not think so, but chances are millennials will let them know by sighing heavily or hitting the horn. That’s according to a Canadian survey that found a “growing intolerance toward seniors” by millennials, with one-third believing that seniors should not get any special treatment. So does that mean that “Millennials Are Scared of Seniors,” as columnist J.M. Henderson wrote in Forbes? She points to the cultural …

Fed Report Paints Dreary Retirement for Some

Five 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

Financial 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 …

Three Generations, Three Different Retirements

So it seems that boomers and the Generation X that followed them believe a traditional retirement, the kind where you clock out of the job permanently at age 65 to travel, play golf, visit the grandkids or relocate to a sunnier destination, isn’t in their future. Yet Millennials, the oldest among them in their mid 30s, are much more hopeful. They predict they’ll retire at or before they reach their mid 60s, according to a survey released Wednesday by the nonprofit …

$900 Million and Counting

Have you ever been hit with sticker shock when you open your utility bill? This winter, many Americans faced skyrocketing energy costs, with bills doubling and tripling in just a month. Meanwhile, some seniors on fixed incomes still have to make tough choices between paying their utility bill or buying other necessities like food and medication. That’s why AARP is fighting, in states across the country, for fair and reasonable utility rates. We’re off to a strong start in 2014, …

Fees Can Sap Over $100,000 From Your 401(k) Plan

Some 52 million Americans rely on their 401(k) savings plans as a key part of their retirement. Now, the Washington-based Center for American Progress says in a new study that high investment fees could cost the typical worker $100,000 or more over the course of a four-decade career. That may force some to stay on the job at least three years longer than they’d planned just to make up for that loss. Given the fact that many older workers are having a difficult …