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Keyword: retirement

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  • Retirement is expensive. Here’s what to do about it

    03/17/2018 6:41:01 AM PDT · by SeekAndFind · 38 replies
    MarketWatch ^ | 03/17/2018 | Mitch Tuchman
    You probably think of your own home as your largest expense in life. Perhaps your kids, if you think of them as expenses. A recent study, in fact, estimated that buying a house and raising a child cost about the same — $245,300 for the house and $278,300 to raise a child from birth to age 18. How does that compare to the cost of retirement? Quitting work costs three times more, believe it or not. The average retirement in the United States runs $738,400. That feels like a made-up number, as precise as it might appear. Naturally, what you...
  • GOP senator: Justice Kennedy is going to retire this summer

    03/09/2018 5:56:32 AM PST · by KavMan · 69 replies
    Sen. Dean Heller (R-Nev.) said in a speech last week he believes Supreme Court Justice Anthony Kennedy will retire this summer, according to audio of the speech obtained by Politico. “Kennedy is going to retire around sometime early summer,” Heller said in the speech, according to Politico. “Which I’m hoping will get our base a little motivated because right now they’re not very motivated. But I think a new Supreme Court justice will get them motivated.” Heller is facing a tough GOP primary ahead of the 2018 midterms as Las Vegas businessman Danny Tarkanian challenges Heller for the Republican nomination.
  • 42% of Americans are at risk of retiring broke

    03/06/2018 8:30:09 AM PST · by C19fan · 129 replies
    CNBC ^ | March 6, 2018 | Jessica Dicker
    At this rate, retirement is more of a fantasy than a reality for many people in this country. About 42 percent of Americans have less than $10,000 saved for when they retire, according to a study by GoBankingRates released Tuesday.
  • Cochran to resign from Senate next month

    03/05/2018 2:05:50 PM PST · by jazusamo · 105 replies
    The Hill ^ | March 5, 2018 | Jordain Carney
    Sen. Thad Cochran (R-Miss.) on Monday said he will resign from the Senate next month, saying his "health has become an ongoing challenge." "I intend to fulfill my responsibilities and commitments to the people of Mississippi and the Senate through the completion of the 2018 appropriations cycle, after which I will formally retire from the U.S. Senate," Cochran said in a statement. He is set to resign from his seat on April 1, according to his office. Cochran is the chairman of the Senate Appropriations Committee. His announcement comes as Congress aims to pass a mammoth government funding bill by...
  • This Is What Life Without Retirement Savings Looks Like [in CA]

    02/23/2018 6:58:53 AM PST · by daniel1212 · 52 replies
    The Atlantic ^ | Feb 22, 2018 | Alana Semuels
    CORONA, Calif.—Roberta Gordon never thought she’d still be alive at age 76. She definitely didn’t think she’d still be working. But every Saturday, she goes down to the local grocery store and hands out samples, earning $50 a day, because she needs the money. “I’m a working woman again,” she told me, in the common room of the senior apartment complex where she now lives, here in California’s Inland Empire. Gordon has worked dozens of odd jobs throughout her life—as a house cleaner, a home health aide, a telemarketer, a librarian, a fundraiser—but at many times in her life, she...
  • This Is What Life Without Retirement Savings Looks Like

    02/23/2018 5:30:43 AM PST · by C19fan · 75 replies
    The Atlantic ^ | February 22, 2018 | Alana Samuels
    Roberta Gordon never thought she’d still be alive at age 76. She definitely didn’t think she’d still be working. But every Saturday, she goes down to the local grocery store and hands out samples, earning $50 a day, because she needs the money. “I’m a working woman again,” she told me, in the common room of the senior apartment complex where she now lives, here in California’s Inland Empire. Gordon has worked dozens of odd jobs throughout her life—as a house cleaner, a home health aide, a telemarketer, a librarian, a fundraiser—but at many times in her life, she didn’t...
  • I do not want being thinked of as being a senior citizen and I do not want a discount.

    02/08/2018 6:00:13 PM PST · by SamAdams76 · 140 replies
    I wish to pay full price. Thank you very much and have a nice day.
  • Battling treacherous office chairs and aching backs, aging cops and firefighters miss...

    02/04/2018 12:29:25 PM PST · by LibWhacker · 27 replies
    LA Times ^ | 2/3/18 | Jack Dolan, Gus Garcia-Roberts and Ryan Menezes
    When Capt. Tia Morris turned 50, after about three decades in the Los Angeles Police Department, she became eligible to retire with nearly 90% of her salary. But like many cops and firefighters in her position, the decision to keep working was a financial no-brainer, thanks to a program that allowed her to nearly double her pay by keeping her salary while also collecting her pension. A month after Morris entered the program, her husband, a detective, joined too. Their combined income for four years in the Deferred Retirement Option Plan was just shy of $2 million, city payroll records...
  • The big mistake investors make once they hit that first $1 million

    02/01/2018 7:31:07 AM PST · by SeekAndFind · 54 replies
    Marketwatch ^ | 02/01/2018 | Mitch Tuchman
    Rich people — really rich people — have an inside joke about spending in retirement: They call it “skiing.” Not skiing as in snow skiing, but “spending our kids’ inheritance.” They use it in reference to splurges, such as pricey wines, cruises through Europe, second homes, or whatever strikes their fancy. They don’t feel bad about spending, because there’s little chance that they’ll spend so much that their own retirement is put at risk. It is truly their kids’ money, so why not? Here’s the crazy thing. A recent Washington Post story details how ordinary savers, folks who are comfortable,...
  • The Connection Between Retiring Early and Living Longer

    01/30/2018 7:23:01 AM PST · by SeekAndFind · 75 replies
    New York Times ^ | 01/30/2018 | Austin Frakt
    Research shows a link, but it isn’t retirement itself that leads to a longer life, but what you do in retirement. You may not need another reason to retire early, but I’ll give you one anyway: It could lengthen your life. That’s the thrust from various research in recent years, and also from a 2017 study in the journal Health Economics. In that study, Hans Bloemen, Stefan Hochguertel and Jochem Zweerink — all economists from the Netherlands — looked at what happened when, in 2005, some Dutch civil servants could temporarily qualify for early retirement. Only those at least 55...
  • Retirement causes brain function to rapidly decline, warn scientists

    01/22/2018 9:33:34 AM PST · by Olog-hai · 64 replies
    Daily Telegraph (UK) ^ | 22 January 2018 • 5:08PM | Sarah Knapton
    Workers looking forward to enjoying a long and leisurely retirement after years of toil may need to think again. New research shows that brain function declines rapidly as soon as people stop work and put their feet up. A major British study which tracked 3,400 retired civil servants found that short-term memory declines nearly 40 percent faster once employees become pensioners. It appears that the lack of regular stimulation takes a heavy toll on cognitive function and speeds up memory loss and dementia, researchers warned. Professor Cary Cooper, an expert in organizational psychology at Manchester Business School, said the study...
  • Increase Exemptions to Boost Retirement Savings 2018

    01/17/2018 3:14:40 AM PST · by CptnObvious · 23 replies
    Vanity | January 17, 2018 | Self
    If you've gotten yourself out of debt (except the mortgage) and have a sizable emergency fund ( 3-6 months expenses) 2018 may be a great year to boost your Retirement savings. Many will have increased paychecks and be able invest wisely, but not as much as they could. Many will benefit in 2019 from the 2018 tax cuts and increased Child Tax Credits by getting huge refunds in 2019. But why wait? Time is Money. By Increasing your Withholding Exemptions NOW you can increase your paycheck and boost your Retirement savings even more! Make it a priority to get any...
  • NM rated near bottom for retirement (50 out of 50 in property crime)

    01/16/2018 3:22:38 PM PST · by CedarDave · 109 replies
    The Albuquerque Journal ^ | January 16, 2018 | ABQJournal News Staff
    ALBUQUERQUE, N.M. — New Mexico has been ranked the eighth worst state in which to retire by the financial website WalletHub. The site ranked the states using 41 metrics on affordability, quality of life and health care. New Mexico fared especially poorly on property crime, ranking 50th. It did better on adjusted cost of living, where it ranked 18th; the percentage of population aged 65 and older (19th); and on health care facilities per capita (19th). The state ranked just ahead of Louisiana and just below Hawaii.
  • Where to Move? Time to Retire and Find a New Life.

    01/15/2018 10:57:58 AM PST · by Chickensoup · 502 replies
    01.15.18 | chickensoup
    The kids are grown and gone. I live in the Northeast. I am looking to move to a small city or town or village. I am healthy, happy and adaptable. I would prefer a place that has a conservative base. Every location on the lists of best places to move are leftist s***holes. I am hoping for a place with four seasons, albeit, not as severe as the northeast. Elevations are fine, beauty is important, and so is the need of good, friendly people. Any ideas?
  • Broke California Looking to Take Money from the Pockets of Retired State Workers

    01/12/2018 6:04:54 PM PST · by BackRoads775 · 115 replies ^ | January 11, 2018 at 8:39am | By Jonathan Pincus
    Public employees in California may have their pension benefits slashed due to the rollback of a longstanding rule in the state, Gov. Jerry Brown revealed in a recent budget briefing. The California governor revealed that he has a “hunch” legal proceedings could pave the way for cuts to public employees’ benefits. “There is more flexibility than there is currently assumed by those who discuss the California rule,” Brown said during the briefing.
  • Fort honors retiring personnel with quarterly retirement ceremony

    01/11/2018 4:52:18 AM PST · by SandRat
    Sierra Vista Herald ^ | Tanja M. Linton, Fort Huachuca Public Affairs Office
    FORT HUACHUCA — The community is invited to honor personnel retiring from active service during the quarterly Installation Retirement Ceremony at 3 p.m., Friday, Jan. 19. The quarterly retirement ceremonies recognize our retiring personnel who have served their country with distinction. In the ceremony, the Fort Huachuca community pays tribute to these retirees and their families who have helped ensure the defense of our nation during a significant period of its history. The public is welcome to attend, but those without DoD-issued ID cards must stop at the Visitor Control Center at the Van Deman Gate to apply for a...
  • The Republican exodus from the House will embolden GOP radicals

    01/10/2018 4:44:46 PM PST · by mdittmar · 25 replies
    NBC News/MSNBC ^ | Jan 9 2018 | Howard Fineman
    WASHINGTON — In a city obsessed with "Fire and Fury" and Oprah Winfrey, Rep. Ed Royce, the 66-year-old Republican chairman of the House Foreign Affairs Committee, made no waves on Monday when he announced that he would not seek another term in his Southern California district after 25 years in office.
  • Social Security Won't Give You Security

    01/10/2018 8:07:57 AM PST · by Oldpuppymax · 91 replies
    The Coach's Team ^ | 1/10/18 | Chris Hogan
    If you’re counting on Social Security to finance your retirement, you’re in for a big surprise—and not the good kind. Let me give you two reasons why. One: Social Security is going broke. And, two: Even if it weren’t going broke, it couldn’t possibly cover the cost of a decent retirement. Let’s look at these two reasons in a little more detail, and then I’ll propose a solution. Social Security is going broke. When this government program was set up in 1935, the average life expectancy was 60. But you couldn’t collect your first check until you reached 65. In...
  • An Unfond Farewell to Un-statesman Orrin Hatch

    01/02/2018 9:27:21 PM PST · by Oshkalaboomboom · 51 replies ^ | Jan 03, 2018 | Michelle Malkin
    The longest-serving Republican senator in U.S. history announced this week that he will finally, finally, finally, finally, finally, finally, finally retire. That's seven "finallys" -- one for each of the consecutive six-year terms Sen. Orrin Hatch, R-Utah, served. He begin his occupancy in 1976, when all phones were dumb, the 5.25-inch floppy disk was cutting-edge, the very first Apple computer went on sale for $666.66, the Concorde was flying high, O.J. Simpson was a hero, Blake Shelton was a newborn, the first MRI was still a blueprint, and I was a gap-toothed first-grader wearing corduroy bell-bottoms crushing on Davy Jones....
  • When Should You Take Social Security?

    12/31/2017 7:23:49 AM PST · by SeekAndFind · 223 replies
    Charles Schwab ^ | 12/30/2017 | By ROB WILLIAMS
    Key Points Taking Social Security benefits before you reach full retirement age may not be in your best interest. We’ll cover Social Security benefit eligibility and factors to consider when deciding when to take Social Security. The strategies for maximizing benefits can get complex—talk to your financial planner or tax professional if needed. When you start receiving full Social Security retirement benefits is a key question for your retirement plans. The first thing to understand is that the concept of “full retirement age” is a moving target that depends on your birth year (see table below). You can elect...