More than half of Americans expect to outlive their money, according to a new Gallup Poll. As a result, 45 percent said they would delay retirement in order to boost savings. Most worried were adults in their prime working years–between the ages of 30 and 64. Older people (65 and above) were less likely to [...] [read full article…]
If you’re over 50, you need exercise to stay fit-no disputing that. But what are you doing to keep your brain lean and mean? The concept of brain fitness has caught fire lately, with much of the attention focused on a new breed of software programs and games that claim to help older people maintain mental [...] [read full article…]
Boomers will see their retirement savings eroded by the skyrocketing cost of health care, according to new research by the Center for Retirement Research at Boston College. When Medicare premiums, co-payments and other expenses are considered, the average individual will need to set aside $102,000 for retirement health expenses; for couples, the number [...] [read full article…]
My recent columns on retiree health care and the timing of taking Social Security benefits prompted a number of questions from readers worried about insurance options for the pre-Medicare crowd, and the mechanics of Social Security. I went back to the experts on both of these topics to get the answers. Q: You wrote that pre-existing [...] [read full article…]
Americans saving for retirement aren’t letting the current tough economy deter them from saving more. That’s the conclusion of new survey research released today by Fidelity Investments. The survey shows that, among current Individual Retirement Account owners, 60 percent have contributed to their IRAs for 2007 or plan to do so. And 32 percent [...] [read full article…]
Money can’t buy me love, wrote Lennon and McCartney. But loving couples could be doing a better job managing their money. So concludes a new study of couples’ financial management styles-and how they can get the best retirement planning outcomes. Released on Valentine’s Day, the study from Hartford Financial Services Group and the MIT AgeLab study [...] [read full article…]
Research by Ariel Mutual Funds and Charles Schwab shows a sizable gap in participation by African-Americans in wealth-building for retirement. Ariel President Mellody Hobson writes this week at Huffington Post about what she calls a “looming retirement crisis” in the African-American community: After struggling so long to join the middle class and fulfill the American dream, [...] [read full article…]
Quiz time. Is your home: a) A place to live b) A piggybank for retirement? For most homeowners, the answer is “both of the above.” Decades of rising residential real estate valuation have brought Americans to view their homes not only as shelter, but an important asset that will help fund retirement. They’ve been encouraged by the [...] [read full article…]
RetirementRevised.com is the companion website of Retire Smart, a column written by Mark Miller that appears in more than 30 newspapers each week. For millions of Baby Boomers, retirement is an opportunity for reinvention, rather than taking it easy. Mark is helping write the playbook for the new career and personal pursuits of a generation.
