Your New Retirement Number: $58,000

En español | 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 …

Survey: Most Buyers on Insurance Exchanges Were Uninsured

By Julie Appleby, KHN Staff Writer, Kaiser Health News Nearly 6 in 10 Americans who bought insurance for this year through the health law’s online marketplaces were previously uninsured – most for at least two years, according to a new survey that looks at the experiences of those most affected by the law. That finding is higher than some earlier estimates and counters arguments made by critics of the law that most of those who purchased the new policies were previously insured. The survey also found that consumers …

Who’s Tapping Their 401(k) to Pay Off Debt?

Too many workers are using their 401(k) savings plan as a piggy bank, tapping it way before retirement for reasons such as to pay off debt, remodel their home or take a vacation they couldn’t otherwise afford. New research from the financial services company TIAA-CREF finds that one-third of 1,000 Americans surveyed in May have taken out a loan from their retirement savings plan. And 44 percent say they now regret it. The survey looked at what situations caused workers to tap those …

6 Political Truths About 50+ Americans

Americans are more divided along ideological lines - and animosity between Democrats and Republicans is deeper and more extensive - than at any time in the past 20 years, a new report from the Pew Research Center shows. As part of a yearlong study of political polarization in the United States, Pew conducted the largest political survey in its history, polling more than 10,000 adults from Jan. 23 to March 16. It’s a mother lode of age-segmented data on the political attitudes …

Honey, I Took Social Security Too Early

Deciding 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 …

The Long Goodbye: Your Kid’s Cellphone Bill

Cheering their new grads at college commencements this month, parents will likely give another hurrah: No more tuition! But there’s another cost that might well linger on for parents of high school and college grads: the cellphone bill. A Wall Street Journal survey last year found that about 40 percent of parents of 18- to 35-year-old children still pay for their cellphone service, and 29 percent continue to do so even after their kids have moved out and pay their …