70 is the new 50 at work these days. A new survey about what older workers want shows how much our timeline has changed.
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Retirement
Are We Lying to Ourselves About Our Pension Problems?
Private pensions are underfunded and fading away, and the agency that insures them is itself running a record deficit. Now we learn that pension funds covering public employees are more seriously underfunded than previously believed.
Are You Saving Too Much? No, Really
Even after the recession decimated the net worth of millions, some economists argue people are being tricked into saving more than they need. At least they have conviction.
What Comes First–Wealth or Health?
Workers increasingly see themselves as more physically fit than fiscally fit, suggesting that good health is their strategy for saving money in retirement. But until they get control of their finances, their health is at risk no matter how many laps they may swim.
Why We Need Pension Reform
A day after Governor Scott Walker won his recall election, the New York Times wrote, “The biggest political lesson from Wisconsin may be that the overwhelming dominance of money on the Republican side will continue to haunt …
Wealth Transfer? Boomers Banking on a Mirage
Under-saved boomers have long believed that a tremendous generational transfer of wealth will save their retirement. Estimates have put the expected bequest from boomer parents at $10 trillion to $30 trillion. Well, don’t count on it.
How to Give Heirs What They Most Want (It Won’t Cost Much)
An enduring legacy of the financial crisis has been a clear shift in personal values—away from materialism and toward relationships and experiences. Born out of need, this national (if not global) rethinking of what is most important has had remarkable staying power even as the economy has started to improve.
How to Dump Your Fee-Filled 401(k)
401(k) fees are back in the news. These plans still make sense for many workers, especially if there is a company match. But it’s tough to make the case for sticking around once you retire or find another job. Here are four ways to treat your 401(k) assets.
5 Ways to Avoid Hidden 401(k) Fees
A new report says that investors lose up to 30% of their savings to hidden 401(k) fees. That’s probably a stretch. But outlandish fees are a definite problem. Here’s how you can avoid them.
6 Steps for Building a Financial Plan for Aging Parents
In this week’s TIME Magazine cover story, columnist Joe Klein tells his story of caring for, and eventually losing, his elderly parents. The article is powerful in part because it deals with an issue that — if we’re lucky — most of us will face.
Sandwich Generation: Old Story, New Problem
Boomers were the first to struggle en masse with both the financial needs of kids in college and retired parents outliving their nest egg. Now, the kids may be out of college—but moved back home. Meanwhile, mom or dad has not …
Retirees Taking Early Social Security Benefits Hits 35-Year Low
Boomers have got the message: For most people, it makes sense to delay Social Security benefits to age 70 if possible. More made the choice to delay in 2011 than at any time since 1976. Here’s how you can afford to wait too.