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 …

Workers Say Employers Getting Stingy on Pay, Benefits

If the economy’s improving, why do workers say that their employers are getting stingier with pay or benefits, possibly compromising their financial security now and in retirement? In a survey of 5,070 U.S. workers, 76 percent said their company made one change or another in the last two years that weakened their retirement benefits, reduced pay raises, increased out-of-pocket health care costs or premiums, cut back on hours, laid off workers or involved a major restructuring. The survey, conducted by …

Some Lucky Workers Getting More Company Cash in Their 401(k)s

Remember when AOL announced recently that it would pay its 401(k) matching contributions to employees in a lump sum at the end of the year, rather than during each pay period, potentially costing employees’ retirement nest eggs thousands of dollars? If workers left in November, they’d lose out on nearly a year’s worth of company contributions. Those who stayed forfeited any gains made throughout the year. The tech company was forced to reverse its policy after an outcry by employees. (Criticism …

Who’s Feeling Better About Retirement?

Last year’s rising stocks and recovering real estate market appear to have increased workers’ retirement confidence as well. According to an annual survey of 1,000 workers by the Employee Benefit Research Institute, 18 percent say they were very confident they’d be able to retire comfortably. That may not seem like much, but it’s a 5 percentage-point jump from a year earlier. Jack VanDerhei, EBRI’s research director and an author of the study, says the rise in confidence was among those …

Are You a Social Security Double-Dipper? Perhaps Not Much Longer

When and how you claim Social Security benefits has a huge financial impact on your retirement, although many older Americans aren’t aware of all their options and lose out on some serious money, according to a survey released today by Financial Engines. The Sunnyvale, Calif.-based company found that single retirees potentially miss out on $100,000 or more over the course of their retirement, while for married couples the amount is $250,000 or higher. Financial Engines’ findings come from a recent …

There’s a New ID Theft Victim Every 2 Seconds

About the time it takes to read this sentence, another three people have become victims of identity theft. A victim is created every two seconds, according to a new survey by Javelin Strategy & Research Study. The California-based research group reported some troublesome statistics: The number of ID theft victims last year reached 13.1 million, up by more than 500,000 from the previous year. And more than one of four cases involved “account takeover fraud.” >> Sign up for the AARP …