Is the retirement savings system broken?

News from the web:

Things are looking up for employer-based retirement plans.

Despite the staggering loss of savings many experienced as a result of the downturn, Americans still believe the current retirement savings system still works.

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Retirement for Younger Baby Boomers Will be a Different Experience

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Younger baby boomers, those aged 50 years old in 2010, foresee a vastly different retirement world than 50 year-olds who were surveyed in 1996. According to a pair of surveys by active adult community developer Del Webb, today’s 50 year-old plans to retire four years later, at a median age of 67 versus age 63 nearly fifteen years ago. Fully 73% of baby boomers plan on continuing to work in retirement. That contrasts with current retirees living in Del Webb communities, of whom just 40% have actually worked since retirement.


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Four Risks That Could Ruin Your Retirement

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What are the risks of retirement and how do we plan for them? In recent articles, we’ve written a lot about retirement and different aspects of planning for it. Often risks are specific to your particular retirement plan, but several are common in all plans. Even after you transition into retirement, it’s still vital to periodically assess your risks. Kick the tires on your retirement plan every now and then to see if you need to make changes. Here are the top four risks we see when preparing and living in retirement:

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May he live long and prosper

News from the web:

In an interview with The Toronto Sun, Leonard Nimoy has announced his retirement from acting. Though the actor legendary among the sci-fi community for his role in Star Trek, the occasional voice acting credit, and odd affection for the works of J.R.R. Tolkien has taken several breaks from active duty before, he seems sincere that this is a lasting proposition.

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'Silver market' put off by hotel single supplement

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THE SUPPLEMENT charged by many hotels for single rooms is a disincentive for the lucrative “silver market” at a time when the retired population is growing, the tourism industry has been told.

Active Retirement Ireland has urged the industry to do more to attract retirees, many of whom take from three to five short breaks a year.

Maureen Kavanagh, chief executive of the group, said its members already accounted for an estimated 100,000 bed nights a year and stressed there was “a silver lining” for the hard-pressed industry.

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How Much Retirement Income Do You Need?

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If you want to continue into retirement the standard of living you’re accustomed to while working, conventional wisdom from financial planners says you’ll need a retirement income that’s equal to 70 percent to 100 percent of your pay just before retirement. Retirement planners call this the “replacement ratio” method of determining retirement income. But is this method right for you?

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Friends, Not Grandkids, Key to Happy Retirement

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An active social life, being married and having a partner who is also retired all make a huge difference in seniors' enjoyment of life, but having children or grandchildren matters little, [a] University of Greenwich team found…

Seniors with high levels of life satisfaction strongly agreed with the statement, "I have active social groups I enjoy spending time with." Conversely, seniors who aren't enjoying life much strongly agreed with the statement, "I miss the socializing of working life."

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Age of enjoyment: The active retired are spoilt for choice when looking for buzzy living

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Not every retired person longs for the quiet life. Shuffling about in slippers is far from fashionable as people live longer and strive to lead action-packed lives into their 80s.

These are the lively retirees who want plenty of space in quality homes in a buzzing area.



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Retirement is Out, the Active Adult Lifestyle is In

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Blame it on the boomer generation if you want, but you must accept that the old notion of retirement has given way to the era of the active adult. Most adults would like a retired life of ease and prosperity. They are no longer willing to work for 80% of their life, for a less than certain shot at a life of splendor and ease awaits them for the last 20% of their allotted days on earth.
The retirement paradigm

The old model of adult life said that you work for x years, typically until you are 65 years old. Then you retire. If you do it correctly, you will save enough during your working years to live comfortably with social security and your pension from your job and your lifetime of savings to provide that level of comfort.That model governed many people's thinking through the 20th century.


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Retirement age 'should be scrapped'

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Equality commission says an ageing population and increased willingness among older people to work should see default retirement age scrapped.
Workers should be able to stay in their jobs beyond the age of 65, and employers should be incentivised to allow older employees to work flexibly, the UK's equality watchdog said today.

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Looking Forward To Your Retirement

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Did you know that you’ve been working towards retirement since you got your first job? You may not have even noticed, but every paycheck showed that you paid social security. As you became older and reached your early forties, you began looking at your financial condition in relation to your retirement years. When you reach sixty, the excitement will mount, and you will start defining your plans for retiring.

No one wants to enter retirement just to lose their health and eventually their life. Everyone has plans to live longer and enjoy themselves. In order to do that, make sure you stay active! It’s not a time to spend your day sitting on the couch, watching television and eating. That type of life style diminishes your retirement years one day at a time. Too many people spend those last years of retirement in a bedridden state, suffering from an incurable illness.

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The Exciting And Wonderful World Of Retirement

News from the web:

From the day you get your first job, you begin working towards retirement without even realizing it. Every paycheck you receive has social security taken out of it. Once you reached your late thirties, your main goal in life is retirement and by the time you hit sixty, you will be making definite plans for retiring.

No one wants to enter retirement just to lose their health and eventually their life. Everyone has plans to live longer and enjoy themselves. In order to do that, make sure you stay active! It’s not a time to spend your day sitting on the couch, watching television and eating. That type of life style diminishes your retirement years one day at a time. Too many people spend those last years of retirement in a bedridden state, suffering from an incurable illness.

Read the whole story HERE

visit us at RetiredResources.com