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Keyword: retirement

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  • President Obama "Steps Up" Attack On Estate Planning Techniques

    02/28/2015 7:27:04 AM PST · by TurboZamboni · 16 replies
    Penton Business Media ^ | 2-2-15 | Eric Fischer
    On Feb. 2, 2015, on the heels of the State of the Union Address, the Obama Administration released its budget proposal for the 2016 fiscal year, accompanied by the Treasury Department's General Explanation of the Administration's Fiscal Year 2016 Revenue Proposals (colloquially known as the Greenbook).[1] Given the percentage of his previous proposals that have been passed and the newly-elected Republican majority in both houses of Congress, the vast majority of the proposals in the Greenbook are unlikely to become law during President Obama's last two years in office. However, they are worth noting, as they identify the focus points...
  • Only one-quarter of Americans plan to retire

    02/27/2015 1:43:11 PM PST · by Lorianne · 30 replies
    Market Watch ^ | 26 February 2015 | Quentin Fottrell
    Many Americans appear to be giving up on retirement. Just over one-quarter (26%) of Americans have a traditional notion of retirement in which they plan to stop working altogether when they reach retirement age, according to a new survey of 7,000 households — “Americans’ Financial Security: Perception and Reality” — released Thursday by The Pew Charitable Trusts. Asked about their retirement plans, 21% said they are never planning to retire, while 53% anticipate doing something else, including working at a different job. Roughly 10,000 baby boomers reach retirement every day, so it’s not unexpected that so many of them are...
  • Obama to Middle Class Retirees: If You Like Your Retirement, You Can Keep It

    02/24/2015 11:49:45 AM PST · by Kaslin · 35 replies
    Townhall.com ^ | February 24, 2015 | Michael Schaus
    Government’s involvement in healthcare has been such a rousing success, Obama is now thinking about getting more involved in regulating the retirement of Middle Class America. Hooray… Proposing new executive regulatory rules (because going through Congress is too cumbersome and democratic), the President has claimed that he is riding to the rescue of average American investors with the heavy hand of government oversight. According to theState.com:The proposed rule, which Obama can put in place without congressional approval, would impose a requirement on some financial advisers to act as what the law calls “fiduciaries” for their clients, meaning that when they recommend...
  • ‘Financial advice from that guy?’ Obama’s investment warning found bereft of self-awareness

    02/23/2015 12:48:41 PM PST · by E. Pluribus Unum · 13 replies
    Twitch.com ^ | 02/23/2015 | Twitchy Staff
    President Obama is delivering a speech about retirement investing today: Just terrific… But wait, it gets better!Obama’s speech included this warning: Ha! Sound familiar? Anyone? … Anyone? That’s it!But there’s more:
  • Your retirement savings: Obama proposal

    02/23/2015 9:43:22 AM PST · by Olog-hai · 43 replies
    Associated Press ^ | Feb 23, 2015 11:09 AM EST | Jim Kuhnhenn
    The Obama administration is proposing tougher restrictions on brokers who manage Americans’ retirement accounts, reigniting a confrontation with the financial services industry over rules affecting trillions of dollars in 401K and other savings accounts. The change would put brokers—who sell stocks, bonds, annuities and other investments—under the stricter requirements for registered financial advisers when they handle clients’ retirement accounts. In a long-anticipated move, the Labor Department is making the proposal Monday to the White House Budget Office. After an internal review, it likely will be put out for public comment for several months. Obama was scheduled to address the AARP...
  • How Do Real People Overcome Challenges to Save for Retirement?

    02/14/2015 7:34:46 AM PST · by Kaslin · 45 replies
    Townhall.com ^ | February 14, 2015 | Dave Ramsey
    We've heard a lot about how far behind Americans are in saving for retirement, but we don't often hear many solutions that the average family can actually afford. That's how we landed on a $300 a month figure. It's a challenging number, since few of us can find an extra $300 a month without some effort and sacrifice. But itÂ’s doable, and it's enough to make a real difference in your nest egg by retirement. 1. Deal With Realities, and Control Your EmotionsA lot of folks are debating whether or not they'll ever be able to squeeze anything out of...
  • Best retirement places?

    02/13/2015 8:22:22 PM PST · by TurboZamboni · 170 replies
    Myself ^ | 2-13-15 | TZ
    Looking for a place with moderate climate,stable government,low crime rate, predominantly English speaking and is not anti-gun .Where someone on a fixed lower income can afford to not have to live like a rat.
  • The Global Private Social Security Revolution

    02/08/2015 2:16:23 PM PST · by Kaslin · 13 replies
    Townhall.com ^ | February 8, 2015 | Daniel J. Mitchell
    Last month, I posted “the cartoon argument” for Social Security reform. My main goal, as an American, is to achieve this important reform in the United States. And I’ve tried to bolster the argument by citing lots of hard data, including the fact that “funded” accounts already exist in nations such as Australia, Chile, Sweden, and the Netherlands. In this spirit, I wrote an article for the most recent issue of Cayman Financial Review, and I looked at the issue from a global perspective. I first explained thatdemographics are destiny.
  • President Obama's 2016 budget targets retirement accounts

    02/06/2015 1:54:58 AM PST · by South40 · 13 replies
    MSN Money ^ | 5 FEB 2015 | Jeffrey Levine
    President Barack Obama's fiscal year 2016 budget was unveiled Monday to the American public, along with the Department of Treasury's Greenbook, which provides further explanation and details of the proposals in the president's budget. In truth, the president's budget is really more of a wish list than anything else, but it's a good indication of where the administration is headed. This year's version of the budget includes a number of provisions targeting retirement accounts. That's no surprise, as provisions aimed at retirement accounts have been a regular feature in budgets in recent years. What is a surprise, however, is how...
  • The Complex Maze of Obama's Tax Reform

    02/04/2015 5:29:01 AM PST · by Kaslin · 8 replies
    Townhall.com ^ | February 3, 2015 | John Ransom
    Obama wants to cap your retirement. Inside his new budget he is proposing to cap qualified retirement savings at $3 million. That's how much the White House figures it would take to generate $200,000 worth of income annually. However the problem with such an approach as investment news points out as that and in the historic low interest-rate environment it takes more money to produce $200,000 worth of income which is all you apparently need in retirement according to them—of course they’ll never live on such a pittance. It is unclear if the administration wishes to tie the size of...
  • Alex Jones to Retire

    02/02/2015 2:13:41 PM PST · by Arthur McGowan · 34 replies
    Alex Jones Channel ^ | 14 Jan 2015 | Alex Jones
    Alex Jones, the internationally known trailblazer of new media and icon of the burgeoning liberty movement, makes an unprecedented announcement in this exclusive video. He finally admits that he was the iconic comedian Bill Hicks, but reveals that this was only a character, along with the persona of Alex Jones, created by his true self David Mentalson III. The master orator and genius actor David Mentalson III is the real identity of the characters Alex Jones and Bill Hicks, and is stepping into the light to claim his position as the greatest actor in the world.
  • Another step down the long, slow road to IRA nationalization

    01/31/2015 6:43:09 AM PST · by SeekAndFind · 52 replies
    The Sovereign Man ^ | 01/31/2015 | Simon Black
    LetÂ’s take a brief walk into financial reality for a moment.At the time of this writing, the United States governmentÂ’s official debt is nearly $18.1 trillion.Now, letÂ’s look at who the biggest owners of that debt are:1) Taxpayers of the United States.If youÂ’ve held a job in the Land of the Free, 15.3% of your salary has gone to fund Social Security and Medicare.Each of these programs holds massive trust funds that are supposed to pay out beneficiaries, both present and future.Conveniently, the trust funds are required by law to buy US government debt.And given that every single US taxpayer...
  • Teacher Pensions Going To Kill Us All

    01/28/2015 5:49:29 PM PST · by Tolerance Sucks Rocks · 27 replies
    The Daily Caller ^ | January 27, 2015 | Blake Neff
    Teacher pensions are a huge and growing crisis waiting to explode without major reforms, warns a new report released Tuesday by an educational think tank.“Do the math on teacher pensions and it just doesn’t add up,” argues the National Council on Teacher Quality in its report, Doing the Math on Teacher Pensions. Total unfunded teacher pension liabilities in 2014 were a whopping $499 billion dollars, the group found. That amount is surging rapidly; in 2012, the total was just $394 billion, meaning that pension debt is growing by over $50 billion a year.Some states are in a particularly huge hole....
  • Dems push automatic IRA bill

    01/24/2015 9:57:28 AM PST · by Rusty0604 · 57 replies
    The Hill ^ | 01/22/2015 | Bernie Becker
    Congressional Democrats are pushing a new bill to make it easier for workers to sock money away in retirement accounts. Sen. Sheldon Whitehouse (D-R.I.) and Rep. Richard Neal (D-Mass.) said Thursday that they were introducing legislation that would set up automatic payroll deductions for contributions to Individual Retirement Accounts.
  • PERS points out weaknesses in Nevada think tank’s retirement study

    01/23/2015 7:27:54 AM PST · by redreno · 8 replies
    http://www.reviewjournal.com ^ | January 22, 2015 - 4:21pmUpdated | By SEAN WHALEY
    CARSON CITY — A retirement system official said Thursday a report showing that some public employees who retire collect more in pension benefits than they did while working was based on less than 2 percent of beneficiaries. The analysis also does not reflect changes to the retirement plan made in 1985 that reduced pension payouts, said Tina Leiss, executive officer of the system. The conclusions in the report issued by the Nevada Policy Research Institute, a conservative think tank based in Las Vegas, do not account for the vast majority of the members and retirees of the Public Employees’ Retirement...
  • Study: Many public-sector retirees making more than they did on job

    01/22/2015 7:37:08 AM PST · by redreno · 11 replies
    http://www.reviewjournal.com ^ | 01/22/2015 | By SEAN WHALEY
    CARSON CITY — Most people who make the decision to retire have to figure out how to live on fewer dollars, but that is not always the case with Nevada state and local government employees, a new analysis has found. The analysis by the conservative think tank Nevada Policy Research Institute, using newly available public data provided by the Public Employees Retirement System, shows that many public sector retirees actually receive a raise upon retirement. The analysis, which looked at 10 of Nevada’s largest government agencies, including the state of Nevada, Las Vegas, Clark County and the Clark County School...
  • America Will Miss Obama When He's Gone (LOL alert)

    01/16/2015 4:04:48 AM PST · by Zakeet · 67 replies
    The Atlantic ^ | January 15, 2015 | Dominic Tierney
    It’s 2018, and Barack Obama leans toward the computer in his Chicago townhouse and punches in the title of his memoir. He enjoys the silence and the solitude. It’s been over a decade since he had time to write. This is Obama’s third memoir and probably not the last. Aged only 57, his story is still in mid-stream. What next? Go back to teaching law? Charitable work? Whichever avenue he pursues, Obama can take encouragement from sky-high approval ratings. As soon as he departed the White House, Obama’s polling numbers started to pick up. Now, he’s one of the most...
  • New Fed report warns of 50% drop in value of stocks due to boomer liquidating equities.

    01/14/2015 3:37:45 PM PST · by MarchonDC09122009 · 45 replies
    Fed related publication warns of: http://www.frbsf.org/economic-research/publications/economic-letter/2014/december/baby-boomers-retirement-stocks-aging/
  • Illinois Introduces Automatic Retirement Savings Program, a First for the Nation

    01/05/2015 9:37:59 PM PST · by Citizen Zed · 33 replies
    ny times ^ | 1-5-2015 | JOSH BARRO
    Illinois is taking a novel approach to getting its residents to save for retirement. Starting in 2017, most state residents who don’t already have a retirement plan at work will be automatically enrolled in individual retirement accounts, funded through a 3 percent deduction from their paychecks. The program will be created under a law signed by Gov. Pat Quinn on Sunday. Participation will be voluntary, but workers who don’t want to save will need to opt out manually. (They will also be allowed to save more than 3 percent if they wish.) An estimate produced by the plan’s backers found...
  • US Sen. Jay Rockefeller heads into retirement

    01/04/2015 11:27:04 AM PST · by Olog-hai · 24 replies
    Associated Press ^ | Jan 3, 2015 4:55 PM EST | John Raby
    Sen. Jay Rockefeller and West Virginia were an odd mix at first—a Harvard-educated native New Yorker from one of the nation’s richest families arriving in one of the poorest states. Through a half century of public service, he made it work. And as he heads into retirement as the last member of the Rockefeller family dynasty in political office—and the only Democrat—the five-term U.S. senator leaves a blueprint for fighting to fix real-life problems for burdened families and to protect the nation’s coal miners. […] Rockefeller was the state’s junior senator for 25 years, yet carved his own path of...
  • Pulitzer Prize-winning reporter left impoverished [living on subsidized dime]

    01/01/2015 12:46:57 AM PST · by Cincinatus' Wife · 49 replies
    The Daily Mail ^ | December 31, 2014 | Ashley Collman
    In 1977, William McPherson earned the top honor in the writing world when he was honored with a Pulitzer Prize.But nearly four decades later, the former Washington Post critic now hovers on the brink of poverty thanks to a failing pension and a bit of bad luck on the stock market.In a heartbreaking essay for The Hedgehog Review, McPherson describes what it's like to become poor in old age-as part of a overlooked group who are neither middle or lower class.Former teachers and even lawyers who can't pay their bills but aren't on the streets begging for change.Surprisingly, he says...
  • Investing in the ObamaFund; Treasury rolls out a new savings plan without a Congressional vote.

    12/30/2014 3:32:07 AM PST · by Liz · 15 replies
    wsj.com ^ | 12/29/14
    EXCERPT—--the WH wants you to consider a retirement plan that will invest in nothing but US government debt. Any financial professional who advised this—would be sued for malpractice. But asset allocation is merely one of the problems with the new “myRA” fund rolling out this month. A form of Roth IRA that allows people to save after-tax dollars and watch them grow tax-free until retirement, the new myRA offers a single investment option. It’s a private version of the G Fund that is available to federal workers and has lately been delivering annual returns of about 2% on its portfolio...
  • Let a Hundred Coburns Bloom: Retiring Oklahoma senator knew how to fix what’s wrong with America.

    12/18/2014 6:56:30 AM PST · by SeekAndFind · 3 replies
    National Review ^ | 12/18/2014 | Mike Brake
    Here in Oklahoma, the news that Senator Tom Coburn will be retiring early from his second term has still not entirely settled in with most folks. For ten years we awoke each day knowing that our state’s voice in Washington would be one of principled reason and absolute integrity. It’s not that our other senator, Jim Inhofe, or our House members, like Tom Cole and Frank Lucas, are lacking. They are all solid conservatives, as is former congressman James Lankford, whom we elected in November to replace Coburn in the Senate. But as conservatives across the nation have recognized for...
  • Is This the End of Michele Bachmann?

    12/14/2014 12:36:41 PM PST · by SeekAndFind · 59 replies
    Politico ^ | 12/14/2014 | By MELINDA HENNEBERGER
    hould anyone have been surprised that Michele Bachmann would go out with a bang, a big bang? On Tuesday, in what the retiring congresswoman from Minnesota figured would be her last White House holiday party, Bachmann used the grip-and-grin moment when she got her picture taken with President Obama to raise a reliably grin-killing topic. “The U.S. needs to take out Iran’s nuclear facilities today,” she informed him. His response? “A condescending smile and laugh,” she tells Politico, making a little pat-on-the-head gesture. “‘Michele, it isn’t that easy, but that’s OK,’” she remembers him telling her. To which the gentlelady...
  • California quake: Up-and-comers are already jockeying ahead of Sen. Boxer's possible retirement.

    12/08/2014 10:29:19 AM PST · by SeekAndFind · 23 replies
    Politico ^ | 12/08/2014 | By ALEX ISENSTADT
    A parade of ambitious California public figures, who’ve spent years itching for a shot at the state’s top political offices, are anticipating a shake-up of the state’s political hierarchy that could begin in a matter of weeks with the possible retirement of Democratic Sen. Barbara Boxer. And some big names — including the mayor of Los Angeles — are already sizing up possible bids to succeed her. Sources close to Boxer, 74, say the outspoken liberal senator will decide over the holidays whether to seek reelection in 2016 and will announce her plans shortly after the new year. Few of...
  • Retirement Warrants Intense Research To Find The Right Place To Settle

    12/01/2014 6:21:06 AM PST · by Iron Munro · 78 replies
    Tampa BayTimes ^ | November 30, 2014
    More than 10 years ago, Barbara Zierten and her husband retired to a small town in California's scenic "gold country," in the Sierra Nevada foothills. "It's beautiful here," said Zierten, 73, explaining the attraction of the area east of San Francisco. They also were on a tight budget and reasoned that a small town would be cheaper. But as time has passed, they have decided the area isn't an ideal fit. For one thing, the library is open only part time. "I'm a reader," she said. "So it's frustrating." And a bad experience with a hospital has led her to...
  • Seasonal Workers on Wheels: A Growing, Graying Wave of Employees

    11/13/2014 8:35:52 PM PST · by TurboZamboni · 14 replies
    KSTP ^ | 11-13-14 | Beth McDonough
    Every day, 170 Minnesotans turn 65. It's supposed to be the beginning of retirement. But for many, 65 is just another birthday. Although they're old enough to retire, they can't afford to. So every year in the fall, thousands come to work in Minnesota. For them, the sugar beet harvest is a lifesaver. Although it's seasonal and short-term work, it's a paycheck. The sugar beet harvest starts at the end of September and runs for a few weeks. The work involves a lot of heavy lifting and the pay is pretty good. The starting wage is $12 an hour. The...
  • NYPD’s highest ranking black official quits

    10/31/2014 2:02:19 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Oct 31, 2014 3:19 PM EDT | Colleen Long
    The NYPD’s highest-ranking black official abruptly quit Friday instead of taking a new post, a surprising move that caught city officials off guard at a time when the department is trying to mend relationships with minority communities.Chief Philip Banks III was to have been named first deputy commissioner, second in command at the nation’s largest police force. Commissioner William Bratton already had announced the change and Banks was to have been promoted Monday. Instead, he will retire. It wasn’t clear why Banks changed his mind, and Bratton cited only “personal and professional factors.” …
  • Retiree Mental Fitness Evaluation

    10/29/2014 11:04:06 AM PDT · by The Looking Spoon · 11 replies
    CRASHR ^ | 10-29-14 | The Looking Spoon
    I don't nomally take email forwards and post them, but this one made me chuckle and is kind of fun... I actually got a couple of them right.----------This test is to ascertain your mental state now. If you get one right you are doing ok, if you get none right you better go for counseling. There are 4 test questions.  Don't miss one. Giraffe Test 1...    How do you put a giraffe into a refrigerator? Stop and think about it and decide on your answer before you scroll down.          The correct answer: Open the refrigerator, put in the giraffe, and close the door.This question tests whether you...
  • Government Gold-Plating

    10/26/2014 11:44:43 PM PDT · by afraidfortherepublic · 4 replies
    The Cato Institute ^ | 10-24-14 | Steven Hanke
    Sen. Tom Coburn (R-OK) released his annual Wastebook this past week. It contains a laundry list of doozies. The U.S. government’s gold-plating operations included $190,000 to study compost digested by worms, $297 million for the purchase of an unused mega blimp, and $1 million on a Virginia bus stop where only 15 people can huddle under a half-baked roof. These questionable (read: absurd) expenditures only represent the tip of the iceberg. Just consider the following: the Speaker of the House currently receives an annual salary of $223,500, and will receive a payment of roughly that amount, depending on the years...
  • Caveat, investor: Now feds want a bite of your mutual fund

    10/02/2014 5:59:33 PM PDT · by TurboZamboni · 16 replies
    The Citizen ^ | 9-4-14 | Paul S. Atkins
    To oversee this process, Dodd-Frank created the Financial Stability Oversight Council (FSOC), made up of the heads of the financial services regulatory agencies. The council claims very broad power to designate certain activities (like asset management) or companies and products (including mutual funds) as systemically important and subject them to Federal Reserve bank-style regulation, including leverage and capital requirements. And the council is doing just that – first with banks, then insurance companies and now, potentially, mutual funds. President Obama’s “independent” insurance expert on the council issued a blistering dissent when it designated Prudential – the nation’s second-largest life insurer...
  • Larry Ellison to Step Aside as Oracle CEO

    09/18/2014 2:35:48 PM PDT · by beaversmom · 11 replies
    Wall Street Journal ^ | September 18, 2014 | Shira Ovide
    Larry Ellison, a college dropout who built Oracle Corp. ORCL +1.00% into one of America's largest companies, is stepping down as chief executive, in one of the momentous corporate handovers in the history of Silicon Valley. Mr. Ellison, aged 70, has been the only CEO in the history of Oracle, which he founded in 1977 and turned into a dominant seller of database software with a market value of $182 billion. Oracle shares fell 2% in after-hours trading following the CEO news and the company's disappointing quarterly results. Mark Hurd, 57, and Safra Catz, 52, two of Mr. Ellison's deputies,...
  • Pennsylvania Living

    08/31/2014 6:06:00 AM PDT · by bboop · 37 replies
    self | August 31, 2014 | self
    So - our son, his wife, and their one-year old are in the Princeton, NJ area. We are in Los Angeles. Those of you with grandchildren will know - this is TOO FAR! We are considering relocating, but not to NJ. Taxes, etc. :( Husband is hydrogeologist, so we think we'll be near consulting/ big city/ Philly perhaps. Does anyone know - Bucks County, Chester County (Montgomery County) ? Places to live that are not too far from work/ job centers? And still within Grandma Distance of Princeton?
  • 36% of adults lack retirement savings -- 14% of them 65 or over

    08/18/2014 12:13:58 PM PDT · by SeekAndFind · 57 replies
    Los Angeles Times ^ | 08/18/2014 | By JIM PUZZANGHERA
    More than a third of American adults have no retirement savings, including 14% of those 65 years of age or older, according to a new study released Monday. The low savings rate for people at or approaching retirement age is alarming, said Greg McBride, chief financial analyst for Bankrate.com, which conducted the survey. About a quarter -- 26% -- of those age 50 to 64 haven't started saving for retirement, the survey said; the figure was 33% of people who are 30- to 49-years-old. Overall, 36% of those 18 years or older have not started saving for retirement, according to...
  • We're Relying on Phantom Wealth to Fund Our Retirement

    08/17/2014 11:04:09 AM PDT · by Lorianne · 58 replies
    Of Two Minds ^ | 13 August 2014 | Charles Hugh Smith
    Phantom wealth cannot possibly fund unprecedented retirement and healthcare promises. The narrative that Social Security, Medicare and pension funds invested in stocks and bonds can fund the retirement of 65 million people is a misleading fantasy. The sad reality is we can't fund the enormous expense of retirement/healthcare for 20% of the populace out of our national earned income, and the savings that have been set aside are either fictitious (the Social Security Trust Fund) or based on phantom wealth created by speculative asset bubbles in stocks, bonds and real estate. I explain the fraud of the Social Security Trust...
  • Almost 20 percent of people near retirement age have no retirement savings

    08/08/2014 8:25:21 PM PDT · by SeekAndFind · 53 replies
    Washington Post ^ | 08/08/2014 | By Jonnelle Marte
    One in five people who are near retirement age have zero money saved. Yes, you read that correctly. The sobering statistic was one of many released by the Federal Reserve on Thursday as part of its report on the economic well-being of U.S. households, which surveyed more than 4,100 people online last year between mid-September and early October. The study offered a stark reminder that as more Americans are made responsible for their own retirement, most are not saving nearly enough. Overall, 31 percent of people said they have zero money saved for retirement and do not have a pension....
  • 5 reasons not to retire in the U.S.: Number of retirees overseas has more than doubled in 10 years

    08/08/2014 5:22:04 AM PDT · by SeekAndFind · 31 replies
    MarketWatch ^ | 08/08/2014 | By Quentin Fottrell,
    More than half a million retirees receive their Social Security benefits abroad, according to International Living , a monthly newsletter focusing on retiring overseas. The Social Security Administration currently sends 613,650 retirement-benefit payments outside the U.S., more than double the 242,128 benefit payments sent abroad in 2002. And even that data likely under-represents the actual number of Americans retired overseas, says Dan Prescher, 60, special projects editor of the newsletter. (International Living gets much of its financial support from advertisers who sell overseas real estate to retirees, and other services for those wishing to relocate.) “San Diego has some of...
  • Give Low Income Americans Exit Option From Social Security

    07/28/2014 6:09:25 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | July 28, 2014 | Star Parker
    America is supposed to be the land of the free and the home of the brave. But as we become bogged down in our many problems, I see, unfortunately, a mentality in which we are becoming increasingly a nation of the unfree – the victim – and the timid, in how we’re approaching these challenges. Ohio Republican Senator Rob Portman wrote a column this week drawing attention to the latest dire projections from the Congressional Budget Office. CBO projects the nation sinking deeper and deeper into an ocean of red ink. Under a business-as-usual scenario, the Senator notes, we’ll pile...
  • Beware All the Retirement 'Crisis' Reports

    07/23/2014 6:59:31 AM PDT · by SeekAndFind · 4 replies
    RCM ^ | 07/23/2014 | Andrew Biggs & Sylvester Schieber
    If the amount of press ink used to report a study is any indicator of its contribution to public understanding, the National Institute on Retirement Security's (NIRS) 2013 report, "The Retirement Savings Crisis: Is It Worse than We Think?" might be the gold standard on the subject of retirement security. The report concludes that 84% of Americans are falling short of reasonable retirement savings targets and, even when total net worth is considered, two-thirds are at risk of an inadequate retirement income. The total "retirement savings gap," NIRS claims, may reach $14 trillion. According to New York Times writer Nancy...
  • MAPS: The Percentage Of The Population That's Over 65 Is Going To Explode Everywhere (Charts)

    06/12/2014 8:40:43 AM PDT · by PoloSec · 20 replies
    Business Insider ^ | June 12 2014 | Mamta Badkar
    Retirement systems around the world are expected to face a significant burden in the next 50 years. The number of people over the age of 60 is expected to double from 841 million in 2013, to over 2 billion by 2050, according to the UN. What's more this has been accompanied by falling global birth rates. In fact, the global share of people over the age of 60 has gone from 9.2% in 1990, to 11.7% in 2013 and is expected to hit 21.1% in 2050, according to Bank of America's Sarbjit Nahal and Beijia Ma. The number of people...
  • Why many retired women live in poverty

    05/20/2014 9:34:42 PM PDT · by Jack Hydrazine · 113 replies
    CNN Money ^ | 13MAY2014 | Melanie Hicken
    Gender inequality doesn't end at the workplace. For many women, the gender gap haunts them well into their retirement years, when far more women find themselves living in poverty. In fact, women are almost twice as likely as men to live below the poverty line during retirement, with single and minority women struggling the most (see chart). On average, women 65 years and older rely on a median income of around $16,000 a year -- roughly $11,000 less than men of the same age, according to a Congressional analysis of Census data. And many elderly women rely exclusively on Social...
  • Reporters Call Out Carney For Spinning VA Retirement As A Resignation [VIDEO]

    05/19/2014 5:59:46 PM PDT · by Nachum · 21 replies
    Daily Caller ^ | 5/19/14 | Grae Stafford
    White House press secretary Jay Carney received a stiff rebuke at Monday’s press briefing after trying to spin the resignation of Dr. Robert Petzel, Veterans Affairs undersecretary for health, as proof of the administration’s accountability for the escalating scandal over veterans’ waiting lists. The spat began when ABC’s Jonathan Karl began questioning Carney about VA Secretary Eric Shinseki. “If this mess regarding wait times isn’t cleaned up soon, are General Shinseki’s days numbered as VA secretary?” Karl asked Carney. Carney pivoted to stress the president’s support for the VA before responding, “What the president wants is for the review and...
  • Don't Blame "Boomers" For Not Retiring - they simply can't afford to.

    05/15/2014 1:08:17 PM PDT · by SeekAndFind · 22 replies
    Street Talk Live ^ | 05/15/2014 | Lance Roberts
    Every month when the employment data is released there is an almost immediate debate that erupts over the Labor Force Participation Rate. Like any good boxing match, both sides take to their corners. Defenders argue the decline is primarily due to retiring "baby boomers" and demographic trends while opponents suggest that it is a sign that employment remains far weaker than headlines suggest.As I discussed previously, recent employment increases, while encouraging have been little more than a function of population growth. As the population grows, incremental demand increases caused by that increase in population will create employment needs in areas...
  • State of Minnesota may soon control your retirement savings

    05/15/2014 7:13:10 AM PDT · by TurboZamboni · 41 replies
    MN Freedom Foundation ^ | 5-8-14 | Jonathan Blake
    Earlier this week, House and Senate conferees agreed to final language for the Women’s Economic Security Act (WESA). While most of the attention has focused on the bill’s family and sick leave provisions, one particularly bad policy provision has attracted little attention. Specifically, WESA lays the groundwork for a “state-administered retirement savings plan” for employees in the private sector. Yes, this would essentially be a government-run retirement plan controlled by the State Board of Investment. The ramifications of such a plan could be devastating for private sector employees as well as taxpayers who would likely be on the hook for...
  • 7 Worst States for Retirement

    05/04/2014 6:18:44 PM PDT · by TurboZamboni · 52 replies
    Smart Asset ^ | 4-2-14 | Rebecca Lake
    If you’re looking to retire some place warm and sunny then Minnesota probably isn’t high on the list. Aside from experiencing some of the coldest weather in the country, Minnesota also has an above average cost of living and residents pay some of the highest property, sales and state income taxes nationwide. Seniors will find it easier to get access to quality medical care and the crime rate is relatively low but you could end up shelling out more for these perks.
  • When It Comes To Your Retirement, $2 Million May Be The New $1 Million

    04/29/2014 9:09:54 AM PDT · by SeekAndFind · 31 replies
    Business Insider ^ | 04/29/2014 | Libby Kane
    A million dollars isn't cool. You know what's cool? Two million. That's according to a recent USA Today article, which claims that having $1 million saved for retirement might not cut it. "The new $1 million may be $2 million," it says. Financial professionals explain that $1 million of retirement savings translates to $40,000-$50,000 annually once you've bowed out of the workforce. Sure, someone could live on that, but the question is: could you?
  • Average U.S. Retirement Age Rises to 62

    04/28/2014 12:14:25 PM PDT · by rightwingintelligentsia · 20 replies
    Gallup ^ | April 28, 2014 | Rebecca Riffkin
    WASHINGTON, D.C. -- The average age at which U.S. retirees report retiring is 62, the highest Gallup has found since first asking Americans this question in 1991. This age has increased in recent years, while the average age at which non-retired Americans expect to retire, 66, has largely stayed the same. However, this age too has slowly increased from 63 in 2002.
  • Government-Forced Retirement at 57?

    04/22/2014 4:10:33 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | April 22, 2014 | Chuck Norris
    These words of Thomas Jefferson's are etched under the dome of the Jefferson Memorial in Washington: "I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man." Imagine if Jefferson had finished that thought with these words: "Unless, of course, you're 57 years old and a U.S. federal law enforcement officer." In the beginning of our republic, our Founding Fathers fought for freedom from governing tyranny, including for those who worked in government. And if a man's work ethic, health and passions allowed him to labor until his dying breath, he...
  • Want to retire with an extra half a million your savings? Consider moving to another state.

    04/17/2014 12:47:05 PM PDT · by Hojczyk · 13 replies
    http://www.youtube.com/watch?v=UHuXTEYqcX0 http://www.savetaxesbymoving.com A calculator
  • IRA rollover ruling stuns advisers and savers (govt changing the rules after the fact again)

    04/08/2014 3:04:48 AM PDT · by Red in Blue PA · 44 replies
    Retirement experts call it a game changer for the 50 or so million households in the U.S. that own an individual retirement account — an IRA. Uncle Sam’s Tax Court just ruled that the one-rollover-per-year rule applies to all of a taxpayer’s IRAs rather than to each IRA separately. And that ruling, say experts, is in direct conflict with IRS Publication 590, the bible for IRAs. “Industry leaders, financial advisers, and everyone else who handles IRAs are stunned,” said Denise Appleby, the editor and publisher of The IRA Authority According to Appleby, there are two ways to move money between...