DailyFinance.comhttp://www.dailyfinance.comDailyFinance.com%http://www.blogsmithmedia.com/BlogURL%/media/feedlogo.gifDailyFinance.comhttp://www.dailyfinance.comen-usCopyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only.Blogsmith http://www.blogsmith.com/Golden Years? More Like 'Work Horse' Years, Survey Sayshttp://www.dailyfinance.com/2011/07/04/golden-years-more-like-work-horse-years-survey-says/http://www.dailyfinance.com/2011/07/04/golden-years-more-like-work-horse-years-survey-says/http://www.dailyfinance.com/2011/07/04/golden-years-more-like-work-horse-years-survey-says/#commentsFiled under: ,

The lifestyle that's long been associated with the golden years -- hobby-filled days, long vacations, adventures with the grandkids -- could be changing, a new survey has found.

A growing number of Americans now expect to keep working into their 70s, according to The First Command Financial Behaviors Index, which reviews trends shaping financial behaviors, attitudes and intentions via a monthly survey of about 1,000 U.S. consumers.

Working past retirementRecent survey findings revealed that 22% of middle-income people ages 25 to 70 don't plan to retire until their 70s -- notably beyond the traditional retirement age -- up from 14% who claimed the same a year ago. The survey polled consumers with an annual household income of at least $50,000.

And when this group does retire, they'll be inclined to work part time, with half expecting to work 16 to 25 hours per week, the survey revealed.

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]]>GoldenYearsPostponingRetirementBarbara ThauMon, 04 Jul 2011 08:00:00 ESTRetirement Planning, Decade by Decadehttp://www.dailyfinance.com/2011/04/22/retirement-planning-decade-by-decade/http://www.dailyfinance.com/2011/04/22/retirement-planning-decade-by-decade/http://www.dailyfinance.com/2011/04/22/retirement-planning-decade-by-decade/#commentsFiled under: , ,

Retirement planningRetirement planning is no slam-dunk. To make sure you retire in comfort, you have to start saving early and often. You need to pay attention to your money and not be distracted by the stresses and strains -- or the joys -- of day-to-day life. In the long run, you'll thank yourself for keeping one eye focused on the future.

To help you reach your retirement goals, here's a road map for navigating the decades as you move closer toward retirement age.

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]]>401KIRAplanning for retirementPlanningForRetirementRetirement planningroth IRARothIraJennie L. PhippsFri, 22 Apr 2011 09:30:00 EST7 Deadly Retirement Savings Sinshttp://www.dailyfinance.com/2011/04/20/7-deadly-retirement-savings-sins/http://www.dailyfinance.com/2011/04/20/7-deadly-retirement-savings-sins/http://www.dailyfinance.com/2011/04/20/7-deadly-retirement-savings-sins/#commentsFiled under: , , ,

Retirement fundsThis is not going to be another one of the endless string of depressing and discouraging articles on how ill-prepared you are for your golden years. About how you don't have enough in your retirement savings accounts. About how you should have started sooner rather than later planning for retirement.

Yes, it's true that many Americans have simply ignored the fact that with the end of most pensions and the threats to Social Security, we're pretty much on our own in retirement. And surveys show that the average American has just $25,000 in the retirement kitty -- not even close to good enough.

We're in trouble, but we're going to help you fix it. It's simply not too late to bulk up your retirement savings if you act now!

Get started by learning the seven deadly retirement sins to avoid at all costs -- or a hellish retirement of scrimping and stress may be in your future.

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]]>Ken and Daria DolanWed, 20 Apr 2011 08:00:00 ESTSenior-Only Discounts and Dealshttp://www.dailyfinance.com/2011/04/18/senior-only-discounts-and-deals/http://www.dailyfinance.com/2011/04/18/senior-only-discounts-and-deals/http://www.dailyfinance.com/2011/04/18/senior-only-discounts-and-deals/#commentsFiled under: , , ,

older couples dining out - senior discountsWith age comes some privileges, and chief among them may be getting discounts just for being older. And just how old is "older?" AARP, the country's largest lobbying group, considers you a senior when you turn 50.

But if that insult can be forgiven, then you can expect to be rewarded -- with deep and far-reaching discounts on everything from cruises, rental cars, outlet mall shopping, hotel room rates, books, groceries and even meals at Denny's (and not necessarily that Early Bird Special, either).

Stemming from the cultural belief that our elders deserve respect -- and a lingering bottom-line belief that seniors may be the last ones standing with any discretionary dollars left to spend -- there are discounts targeting seniors with age qualifications ranging from 50 to 65. AARP, which offers an annual $16 membership to those 50 or older, is a great place to start, but it isn't the only place to find deals.

Here are some of our other favorites:

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]]>AAAAARPAARP discountsrental carsRentalCarssenior discountsshoppingtravelturning 50Ann BrenoffMon, 18 Apr 2011 11:15:00 ESTSocial Security 'What You'll Get' Statements Going Onlinehttp://www.dailyfinance.com/2011/04/08/social-security-what-youll-get-statements-going-online/http://www.dailyfinance.com/2011/04/08/social-security-what-youll-get-statements-going-online/http://www.dailyfinance.com/2011/04/08/social-security-what-youll-get-statements-going-online/#commentsFiled under: ,

social securityEvery year, Social Security snail-mails 150 million workers a statement estimating what their payments would be if they retired at age 62, 66 or 70. In our household, we call it the annual fantasy letter, trying to imagine that Social Security won't go bust before we reach those ages.

Now Social Security Commissioner Michael Astrue has announced that in an effort to save money -- $70 million a year -- the agency is going to provide these statements online by the end of the year.

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]]>social securitysocial security amountsocial security benefitsocial security statementSocialSecurityAmountSocialSecurityBenefitSocialSecurityStatementAnn BrenoffFri, 08 Apr 2011 08:00:00 ESTFour Reasons Why Waiting to Take Your Social Security Benefit Pays Offhttp://www.dailyfinance.com/2011/04/05/four-reasons-why-waiting-to-take-your-social-security-benefit-pa/http://www.dailyfinance.com/2011/04/05/four-reasons-why-waiting-to-take-your-social-security-benefit-pa/http://www.dailyfinance.com/2011/04/05/four-reasons-why-waiting-to-take-your-social-security-benefit-pa/#commentsFiled under: , ,

retired couple with surfboards - social securityTaking Social Security benefits at 62 may seem like a good idea, but if you wait, you'll thank yourself later. Here are four reasons why:

1. You get less money when you claim early

If you take your Social Security at age 62, you take a 25% haircut. Or as Social Security points out here, if you are entitled to a $1,000 at your full retirement age -- 66 for most of us retiring soon -- you 'll get $750.

A spouse claiming on your record gets even less money. At full retirement age, if you get $1,000, your spouse will get $500. Take it early, and your spouse will get $350, just 30% of what he or she would get at your full retirement age.

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]]>retirementsocial securityJennie L. PhippsTue, 05 Apr 2011 16:00:00 ESTFive Common (and Costly) Consumer Money Mistakeshttp://www.dailyfinance.com/2011/04/04/five-common-and-costly-consumer-money-mistakes/http://www.dailyfinance.com/2011/04/04/five-common-and-costly-consumer-money-mistakes/http://www.dailyfinance.com/2011/04/04/five-common-and-costly-consumer-money-mistakes/#commentsFiled under: , ,

Making money mistakes will quickly dry up your savingsWhile we're doing a lot of things "right" these days (such as paying more attention to our credit card statements, shopping more frugally, and redefining our vision of retirement), we're still making quite a few mistakes. And some of them can be costly -- like these five common consumer mistakes:

1. Not Knowing Our Credit Scores

This is a really important number, looked at by everyone from lenders to landlords and even a growing percentage of employers. In fact, according to the Society for Human Resource Management, as many as 60% of employers now look at this number. And while lenders look at it to gouge your creditworthiness, employers look at it more as a way to check your character. They need to know that you're responsible with your finances, and that you're going to focus on your job, not your financial woes.

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]]>common consumer mistakescredit scoresloansretirementVera GibbonsMon, 04 Apr 2011 15:00:00 ESTFour Spring Tune-up Tips for Your IRAhttp://www.dailyfinance.com/2011/03/29/four-spring-tune-up-tips-for-your-ira/http://www.dailyfinance.com/2011/03/29/four-spring-tune-up-tips-for-your-ira/http://www.dailyfinance.com/2011/03/29/four-spring-tune-up-tips-for-your-ira/#commentsFiled under: , , ,

a married man holds seeds - IRA tuneupTop your spring to-do list with an IRA tuneup -- before you sharpen the lawnmower blades and scrub up the the barbecue grill.

Here are four steps to getting your IRA and/or your 401(k) in top shape. Most of this advice comes from Dan Keady, director of financial planning for TIAA-CREF.

1. Total Up How Much You are Saving for Retirement, Then Figure out How to Add More

Get out the calculator and add up how much is going into your retirement accounts every month, including the amount that you are putting into your 401(k) at work and the interest that is growing on your IRA accounts from former employers or self employment. Then look for ways to up the ante. Here are some painless suggestions:

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]]>401kRetirementretirement adviceJennie L. PhippsTue, 29 Mar 2011 18:00:00 ESTBest and Worst States for Retirementhttp://www.dailyfinance.com/2011/03/28/best-and-worst-states-for-retirement/http://www.dailyfinance.com/2011/03/28/best-and-worst-states-for-retirement/http://www.dailyfinance.com/2011/03/28/best-and-worst-states-for-retirement/#commentsFiled under: ,

best, worst states for retirement in this corn field map of the U.S.As my colleague Aaron Crowe pointed out in December, financial sites looking for some press coverage often generate lists; in this case, the best and worst states for retirement.

At that time, he reported on a study on this topic by MoneyRates.com. Recently another site, TopRetirements.com did a similar list, results below.

Ten worst states for retirement:
50. Illinois
49. California
48. New York
47. Rhode Island
46. New Jersey
45. Ohio
44. Wisconsin
43. Massachusetts
42. Connecticut
41. Nevada

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]]>best states for retirementbest states to retire toBestStatesForRetirementBestStatesToRetireToworst states for retirementworst states to retire toWorstStatesForRetirementWorstStatesToRetireToTom BarlowMon, 28 Mar 2011 12:00:00 ESTFive Ways to Save for Retirement When You Don't Have a Workplace 401(k)http://www.dailyfinance.com/2011/03/21/five-ways-to-save-for-retirement-when-you-dont-have-a-workplace/http://www.dailyfinance.com/2011/03/21/five-ways-to-save-for-retirement-when-you-dont-have-a-workplace/http://www.dailyfinance.com/2011/03/21/five-ways-to-save-for-retirement-when-you-dont-have-a-workplace/#commentsFiled under: , ,

happy retired couple - retiring without a 401KJust because you don't have a 401(k) at work doesn't mean you can't (or shouldn't) save for retirement. There are many tools for putting money in the cookie jar and earmarking it for your old age that aren't reserved for those with a workplace retirement savings plan. Here are five ways to set up and manage your own, employer-free retirement savings plan.

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]]>401kretirementsavingsJennie L. PhippsMon, 21 Mar 2011 17:00:00 ESTSix Ways to Build Your Pre-Retirement Confidencehttp://www.dailyfinance.com/2011/03/16/six-ways-to-build-your-pre-retirement-confidence/http://www.dailyfinance.com/2011/03/16/six-ways-to-build-your-pre-retirement-confidence/http://www.dailyfinance.com/2011/03/16/six-ways-to-build-your-pre-retirement-confidence/#commentsFiled under: , , ,

man and happy retirement sign - retirement savingsRetirement confidence surveys remind me of Chicken Little. You remember her. She gathered a long line of followers who believed her warning that the sky is falling. Ultimately, she and her followers were so distracted by their fears that the fox led them to his den and something far worse than something falling out of the sky happened to them.

Today's survey from Employee Benefit Research Institute (EBRI) points out that a record number of people -- 27% -- think they won't have enough money to live comfortably in retirement. If you do the math, that leaves 73% of people who are at least modestly confident that they will be able to retire and avoid eating Kibbles & Bits.

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]]>401ksIRAslate retirementretirementsaving for retirementsecond jobJennie L. PhippsWed, 16 Mar 2011 08:00:00 ESTSeven Rules for a Secure Retirementhttp://www.dailyfinance.com/2011/03/10/seven-rules-for-a-secure-retirement/http://www.dailyfinance.com/2011/03/10/seven-rules-for-a-secure-retirement/http://www.dailyfinance.com/2011/03/10/seven-rules-for-a-secure-retirement/#commentsFiled under: , , ,

retired couple laughing in the kitchenWe are witnessing what could be a watershed moment when it comes to planning for a secure retirement.

Millions of Americans were already alarmingly ill-prepared for their so-called "golden" years when the stock market crashed and the housing market melted down. Now, just as many people are finally recovering some of their losses, retirement savings face a host of new threats: states halting pension payments, high levels of unemployment, changes to Social Security and Medicare (thanks to our record deficit).

The bottom line is that if you want a crack at the happy and secure retirement we all dream of, you must take control of your retirement planning today. Here's our road map of seven simple, proven tips to planning for a worry-free retirement.

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]]>401K plans403bKen and Daria Dolanpensionretirementretirement planningretirement savingssecure retirementthe DolansKen and Daria DolanThu, 10 Mar 2011 10:00:00 ESTHow to Get Help If You're Old and Poorhttp://www.dailyfinance.com/2011/02/28/how-to-get-help-if-youre-old-and-poor/http://www.dailyfinance.com/2011/02/28/how-to-get-help-if-youre-old-and-poor/http://www.dailyfinance.com/2011/02/28/how-to-get-help-if-youre-old-and-poor/#commentsFiled under: , , ,

Older man checking billsBeing old and poor doesn't sound like much fun. Here's what you need to know to avoid that fate -- or get help if you can't.

One quarter of baby boomers, ages 46 to 65, appear to be headed for poverty in their old age, according to a recent Harris poll, because they have no retirement or personal savings.

Continue reading How to Get Help If You're Old and Poor


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]]>agingelderlyelderly financessenior financesseniorsseniors and moneyJennie L. PhippsMon, 28 Feb 2011 14:30:00 ESTYour Parents and Their Money: Seven Issues You Need to Addresshttp://www.dailyfinance.com/2011/02/25/your-parents-and-their-money-seven-issues-you-need-to-address/http://www.dailyfinance.com/2011/02/25/your-parents-and-their-money-seven-issues-you-need-to-address/http://www.dailyfinance.com/2011/02/25/your-parents-and-their-money-seven-issues-you-need-to-address/#commentsFiled under: , , ,

Discussing money with a parentTalking to your parents about growing old and their plans for the future is hard to do. After all, they still remember changing your diapers. What could you possibly know that they don't?

Talking about their money is even harder -- worse than talking about sex. And you remember that awkward conversation, don't you?

Here are seven ways to break the ice on some of the toughest conversations that you and your mom and dad should have.

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]]>estatesfinancial planningwillsJennie L. PhippsFri, 25 Feb 2011 09:00:00 EST401(k) Savings Hit 10-Year Highhttp://www.dailyfinance.com/2011/02/24/401-k-savings-hit-10-year-high/http://www.dailyfinance.com/2011/02/24/401-k-savings-hit-10-year-high/http://www.dailyfinance.com/2011/02/24/401-k-savings-hit-10-year-high/#commentsFiled under: , , ,

401(k) savings hits 10-Year highRetirement savers are back on track after the 2008 stock market downturn, according to a report from Fidelity Investments, the nation's largest provider of workplace retirement savings plans.

Fidelity reported that the average 401(k) savings reached a 10-year high at the end of 2010 with the average saver putting away 8.2% of their paychecks, before the employer match. Employers typically kick in another 50% of employee contributions up to 6% saved, Fidelity says.

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]]>401k401k savings401kSavingsFidleity InvestmentsFidleityInvestmentsretirement savingsRetirementSavingssavings for retirementSavingsForRetirementJennie L. PhippsThu, 24 Feb 2011 14:30:00 ESTEstate Planning: 10 Things That Make the Road to Heaven Smootherhttp://www.dailyfinance.com/2011/02/22/estate-planning-10-things-that-make-the-road-to-heaven-smoother/http://www.dailyfinance.com/2011/02/22/estate-planning-10-things-that-make-the-road-to-heaven-smoother/http://www.dailyfinance.com/2011/02/22/estate-planning-10-things-that-make-the-road-to-heaven-smoother/#commentsFiled under: , ,

a sunrise - or sunset - estate planningThis isn't an ugly mother-in-law story. Actually, I loved my mother-in-law, and her death at 85 was painful -- far more painful than it really needed to be because she hated to talk about what she considered her personal affairs -- especially when it involved money. And the rest of us didn't want to bring up the subject either. Honestly, I would rather have asked her about her sex life than explore what she intended to do with the cash she had spent her lifetime squirreling away.

Death snuck up on my mother-in-law. On New Year's Eve, she was out with eight of her widowed friends until after 1 a.m. and 15 days later, we held the funeral service. For at least the next six months, we're going to be sorting through the confusion, trying to decide what Mom would have wanted.

If you're a mom (or a dad), vow not to put your kids through this kind of hell when you go to heaven. Here are 10 pieces of estate planning information they'll need to put you and your affairs to rest.

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]]>deathpower of attorneywillsJennie L. PhippsTue, 22 Feb 2011 08:00:00 ESTFive Financial Tips for Baby Boomers Hitting 65http://www.dailyfinance.com/2011/02/16/five-tips-for-baby-boomers-hitting-65/http://www.dailyfinance.com/2011/02/16/five-tips-for-baby-boomers-hitting-65/http://www.dailyfinance.com/2011/02/16/five-tips-for-baby-boomers-hitting-65/#commentsFiled under: , , ,

Baby Boomers' float in the Rose ParadeBaby Boomers hit a big milestone this year: the oldest will be hitting 65, what was once called the Golden Years. For the next 19 years, 10,000 of them will mark this big occasion every day, according to Pew Research Center.

To help them navigate this new era and the growing pains that come with it, here are five tips from Jodi Olshevski, head of The Hartford Advance 50 Team, and Lisa Lobo, a Hartford consumer insurance specialist:

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]]>baby boomersbaby boomers agingbaby boomers retiringLan N. NguyenWed, 16 Feb 2011 13:00:00 ESTFive Lame Excuses for Not Saving Moneyhttp://www.dailyfinance.com/2011/02/14/five-lame-excuses-for-not-saving-money/http://www.dailyfinance.com/2011/02/14/five-lame-excuses-for-not-saving-money/http://www.dailyfinance.com/2011/02/14/five-lame-excuses-for-not-saving-money/#commentsFiled under: , , ,

saving moneyWhy aren't we saving more money?

According to a Harris Poll released early this month, 27% of Americans have no personal savings and 34% have nothing saved for retirement.

Of course, not all the news is bad. As a country, we're beginning to spend more than we did just a year ago when we were in the grips of the Great Recession, as The New York Times recently pointed out.

According to the same article, we were also saving more last year (in the second quarter of 2009, Americans socked away 7% of their disposable income, versus only 5.3% in December of 2010), the question is, why aren't we still saving? Clearly, we all can -- we just don't. Here are some of the excuses we typically offer up to explain why we don't save more. Let's see if we can't debunk them.

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]]>debtexcuses for not saving moneysaving moneysavings accountGeoff WilliamsMon, 14 Feb 2011 12:00:00 ESTSix Best Calculators for Figuring Out Your Retirement Strategyhttp://www.dailyfinance.com/2011/01/25/six-best-calculators-for-figuring-out-your-retirement-strategy/http://www.dailyfinance.com/2011/01/25/six-best-calculators-for-figuring-out-your-retirement-strategy/http://www.dailyfinance.com/2011/01/25/six-best-calculators-for-figuring-out-your-retirement-strategy/#commentsFiled under: , , ,

Couple going over retirement planPart of planning for retirement is a math exercise -- figuring out how much money you have, how much you need and how to best save enough to build a big enough nest egg before you hang up your work boots.

It's not calculus, but figuring this out without help isn't easy either. Fortunately, there are dozens of free online calculators that will help you. Here are six of the best.

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]]>retirementretirement calculatorretirement planningretirement savingsJennie L. PhippsTue, 25 Jan 2011 15:00:00 ESTMaking the Most of Your Social Security Benefitshttp://www.dailyfinance.com/2011/01/21/make-the-most-of-your-social-security-benefits/http://www.dailyfinance.com/2011/01/21/make-the-most-of-your-social-security-benefits/http://www.dailyfinance.com/2011/01/21/make-the-most-of-your-social-security-benefits/#commentsFiled under: ,

Social Security formsIt was too good to last. For years, I (and every other financial expert on the planet) was able to tell people that they could tap Social Security at age 62, pay the money back later on - no interest required - and draw a higher payout years down the road. It was perfect. In effect, a no-cost loan from the government, making up for all those years you let Uncle Sam hang on to more of your tax dollars than he was entitled.

Well, those days are gone - or at least they've been minimized. New rules from the Social Security Administration put a cap of a single year on the amount of time you have to apply, pay back and apply again. It's not worth the trouble. But strategizing to get the most you possibly can from Social Security - a key part of most retiree's paychecks - is worth more time and energy than many people give it. Here are a few tactics to keep in your back pocket:

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]]>jean chatzkynest eggretirementretirement planningsocial securitySocial Security benefitsSocial Security paymentsJean ChatzkyFri, 21 Jan 2011 15:00:00 EST