Closing Pensions For Public Workers Has Proven A Mistake

Closing Pensions For Public Workers Has Proven A Mistake

Article Excerpt: "...State leaders have learned the hard way that ending pension benefits comes with little to be gained and a big price to pay. More specifically, states that shifted new employees from defined benefit pensions to defined contribution or cash balance plans experienced increased costs for taxpayers without significant funding improvements. Also, moving away from pensions results in cuts to public employees’ retirement security..."

Resource: www.forbes.com

Pensions

10 Things No One Tells You About Early Retirement

10 Things No One Tells You About Early Retirement

Article Excerpt: "...Unfortunately, early retirement isn't for everyone. In fact, it isn't for most people. Just 13 percent of today's workers plan to retire before age 60, according to an Employee Benefit Research Institute (EBRI) survey. For many of those who do take the plunge, the reality of early retirement can turn out to be far different than the fantasy. Here are a few things to consider before you decide to retire early. ..."

Resource: www.aarp.org

Early Retirement

Retire Online with Social Security, Quickly and Easily

Retire Online with Social Security, Quickly and Easily

Article Excerpt: "The idea of applying for Social Security retirement benefits might seem daunting, but it’s not. There’s no need to visit an office. You don’t have to use the phone. We have an online retirement application that you can complete in as little as 15 minutes and from the comfort of your home or office. In most cases, once your application is submitted electronically, you’re done. There are no forms to sign and usually no documentation is required. Social Security will process your application and contact you if any further information is needed. It’s as simple as that. You can start your application. ..."

Resource: ssa.gov

What Is the Break-Even Age for Social Security?

What Is the Break-Even Age for Social Security?

Article Excerpt: "...catch-up moment is called the break-even age (or break-even point), at which the dollar value of claiming benefits later surpasses the value of taking them early. Determining your break-even point and weighing it alongside other factors such as your physical and financial health can help you decide when to start Social Security and get the most out of your benefits over your lifetime. ...it would take about 140 months (11 years and eight months) to make up for the money you’d forgo by claiming benefits later. At around age 78 and 8 months, you reach the break-even point, when your cumulative benefits from claiming at 67 surpass those you’d get by taking retirement at 62. "

Resource: www.aarp.org

Is a retirement age a thing of the past?

Is a retirement age a thing of the past?

Article Excerpt: "...Age 65 doesn’t mean much anymore. It’s not even the age for claiming full Social Security retirement benefits anymore. It is an age that people still often retire at, often due to convention, but is gradually becoming more and more outdated as a meaningful age over time,” said Patrick Button, an Associate Professor of Economics at Tulane University, who researches age discrimination. ..."

Resource: www.msn.com

Higher living costs force Americans to cut back on retirement savings, survey says

Higher living costs force Americans to cut back on retirement savings, survey says

Article Excerpt: "...our paychecks are going to pay the bills as we juggle higher rent or housing costs, larger monthly payments on cars, and ongoing high prices on food, clothing and airfares. ..."

Resource: www.msn.com

8 Reasons You Should Retire Already

8 Reasons You Should Retire Already

Article Excerpt: "...for some older adults, hanging on to their job can cause more harm than good. Sure, you still have money coming in, but at what price to your mental or physical health? “In this economy, people are starting to worry that they don’t have a plan..."

Resource: www.aarp.org

This Number Predicts Your Quality Of Life In Retirement

This Number Predicts Your Quality Of Life In Retirement

Article Excerpt: "...Retirement planning is all about the numbers. Yet, there is one number most of us take for granted or don’t even consider. ...Another number may be even more indicative of how you will live in older age – your ..."

Resource: www.forbes.com

Zip Code,

Make sure the tax breaks you’re taking now won’t hammer you in retirement

Make sure the tax breaks you’re taking now won’t hammer you in retirement

Article Excerpt: "...Good savers, beware. The money you’re stuffing into your 401(k) and other retirement accounts has to be withdrawn someday. If you’re not strategic about how you save, you could face unnecessarily high tax bills and inflated Medicare premiums in retirement — plus, you could be saddling your heirs with higher taxes. The earlier you start defusing this potential tax bomb, the better. ..."

Resource: www.marketwatch.com

Tax strategies in retirement,

Why $1 Million Isn’t Enough for Retirement Anymore

Why $1 Million Isn’t Enough for Retirement Anymore

Article Excerpt: "...Reasons Why a $1 Million Nest Egg May Not Be Enough..."

Resource: yahoo.com

Nearly 10 Million Homeowners 65 And Older Are Still Saddled With Mortgage Debt

Nearly 10 Million Homeowners 65 And Older Are Still Saddled With Mortgage Debt

Article Excerpt: "...The largest share of 65-and-older homeowners with a mortgage is concentrated in Miami, Los Angeles and Sacramento, California. Across these three metros, an average of nearly a quarter — 23.64% — of homeowners 65 and older have a mortgage. That’s about five percentage points higher than the 50-metro average of 18.91%. ..."

Resource: www.forbes.com

Mortgage Debt,

Families Are Skipping Meals and Delaying Retirement While Biden Celebrates Bill that Won’t Lower Inflation

Families Are Skipping Meals and Delaying Retirement While Biden Celebrates Bill that Won’t Lower Inflation

Article Excerpt: "...While families are skipping meals and delaying their retirement because of Joe Biden’s cruel economy, the White House and President are celebrating and partying at the White House over their bill that won’t cut inflation – many people believe it will drive it even higher. “Consumers took a couple of big hits..."

Resource: waysandmeans.house.gov

Root Causes of Inflation,Biden Admin Impact on Retirement,Joe Biden’s cruel economy,

How Do I Calculate The Value Of A Pension?

How Do I Calculate The Value Of A Pension?

Article Excerpt: "If you’ve got a pension, count yourself as one of the lucky ones. A pension is more valuable than you realize. With a pension, you... If you have a pension, your goal is to live as long and healthy a life as possible! The longer you live, the greater the value of your pension. This means eating better, exercising, and having a good social network of friends. ...Pensions Have Become Much More Valuable Given interest rates collapsed in 2020, it took more capital to generate the same amount of risk-adjusted returns/income. Therefore, the value of a pension went WAY UP because the value of cash flow has gone way up."

Resource: www.financialsamurai.com

Biden Admin Impact on Retirement,Biden Legacy,Inflation 2023,

How Many Americans Have $100,000 Saved for Retirement?

How Many Americans Have $100,000 Saved for Retirement?

Article Excerpt: "...Saving for retirement is important. With company pensions going extinct, Social Security slowly running out of funds and inflation running rampant, it’s up to you to save and invest enough for a comfortable retirement. Expert Says: ‘Silent Crisis’ With Retirement Savings Looms Worldwide — How To Act Now But are you saving enough? GOBankingRates recently polled Americans to understand how much they have put away for retirement. We’ll break down the results and share some tips for boosting your retirement savings to help you become an above-average saver. ..."

Resource: www.gobankingrates.com

Retiree Finances,Retirement savings crisis 2023,

Here’s What Really Matters in Preventing Dementia. It’s Not All Brain Teasers and Crosswords

Here’s What Really Matters in Preventing Dementia. It’s Not All Brain Teasers and Crosswords

Article Excerpt: "...As America grays, seniors are looking for answers to make sure their cognitive abilities don’t expire before they do. They are told they should eat a Mediterranean diet. Get enough sleep. Avoid stress. Walk 10,000 steps a day. Lose weight. Which one of those things actually helps? Probably all of them. Barron’s has been talking to brain scientists to learn what the research tells us about maintaining brain function. There is no one thing that protects against dementia, they tell us. ..."

Resource: www.barrons.com

Dementia Prevention,Health,Exercise,

Why You Should Weightlift in Retirement—and How to Do It Right

Why You Should Weightlift in Retirement—and How to Do It Right

Article Excerpt: "...For good reason. A growing flood of research has found that weightlifting produces health benefits for seniors, lessening rates of osteoporosis, heart disease, and even cancer. There’s just one problem: Most seniors who lift weights are doing it wrong, according to a growing group of trainers. Ignore those cliché images..."

Resource: www.barrons.com

Exercise,Health,