retirement age

A Million Bucks Ain't What It Used to Be (But It Still May Be Enough)

If you ask Americans worth between $1 million and $5 million how rich they are, their answer will be "not very." That may make some of us chuckle, but the sad truth is that a million dollars today doesn't go as far as it did when we were young -- and it sure won't go as far when we're old.

For Many Hopeful Retirees, 70 May Not Be the New 65 After All

It%u2019s become common (and comforting) wisdom: Those who haven%u2019t saved enough for their golden years can meet their retirement income needs by working until they're 70, instead of the traditional 65. But that's not true for at least a third of U.S. workers, reveals a new study.

80 Is the New 65: How High Should We Boost Retirement Age?

Imagine what life would be like if we tacked 15 years onto the official retirement age -- it's not a particularly far-fetched scenario. AIG CEO Robert Benmosche has warned that Europe may have to do just that, and the U.S. will soon face a similar crisis.

What's a Realistic Retirement Age?

A reader asks: "What's a realistic retirement age? How much longer will most of us have to work?" The answer depends on how successful you've been at saving, how cushy a lifestyle you want, and, of course, when you prefer to disengage.

A Simple Money Move That Could Save Social Security

With so many pundits fretting about Social Security's possible collapse in 2036, it's hard to be optimistic about the entitlement program's future. But one insurance expert thinks that giving retirees a bit more flexibility could save the entire system.

Ponzi Scheme or Not, Social Security Is Going to Shrink

Social Security's trust fund is in the long, slow process of collapsing because it won't have enough funds to pay its promised benefits. Sound like a Ponzi scheme? Perhaps, but at least this "scheme" is one in which you can come out ahead -- especially if you start preparing now.

Retirement at Never: Are You Doomed to Work Til You Die?

Do you really want to work your whole life? An alarming number of workers think they'll have to -- and that number is rising. More than a quarter of workers age 50 and older expect to retire at 70 or later. Even worse, one in six Americans think they'll never be able to retire.

4 Ways to Get the Most From Social Security

Most people's big worry about Social Security these days is that it won't be there at all when they retire. But what they should be worrying about is how to boost their benefits down the road. Here are four ways to do that:

We're Not Ready: More Bad News About Retirement

A spate of recent surveys highlight the dark trends around retirement in America. More of us expect to work significantly later in life, fewer of us think we're saving enough -- and the ones who think they are are often wrong. But it may not be too late for you to take some good advice.

Americans Getting More Worried About Retirement

Three separate surveys released this week show rising levels of anxiety among Americans over when -- or whether -- they'll be able to stop working. And even where confidence is rising, some of it may be misplaced.

Planning for Retirement
Amid Market Mayhem

Planning for retirement? Don't panic. Here's why you should ignore the market mayhem: You have complete control over the most important component of your retirement plan, your contributions.

For Retirement Planning, Words Matter

In matters of life and death, it turns out that semantics matters. When researchers asked people what age they would "live to," compared with what age they would "die by," people's expectations shot up by an average of nine years. Here's why that could have a big impact on annuities.

Could You Retire 25 Years Early?

Sick of working 80 hour weeks, Akaisha and Billy Kaderli retired at age 38 and began traveling the world. How'd they pull it off? Here, in their own words, are the steps to take if you want to claim your freedom decades before the rest.

Older Americans' Surprising New Retirement Views

It was probably inevitable after the worst recession in decades: Americans now view their future retirements differently than they did 10 years ago. But here's a shocker: According to the SunAmerica Retirement Re-Set Study, their overall attitudes toward this future are largely positive.

Social Security Isn't Broke, But We Still Should Fix It

It's true that Social Security paid out more than it collected in 2010. But the Trust Fund owns $2.6 trillion in Treasury bonds, and though some people may claim those holdings are an illusion, they aren't. Still, there are some fairly painless steps we could take to shore up the program's balance sheet for the long term.

The New 65 Is 70: Retirement Age Shifts Upward

Almost a quarter of Americans and Canadians say they expect to work past the age of 70, and 6% say they'll likely retire after their 80th birthday -- two years longer than the nations' life expectancy, a recent Nielsen survey found. And it's not just a North American trend.

People@Work: Boomers Are Turning 65 -- but Staying on the Job

The dawning of 2011 marks a milestone: The first of the nation's 76 million baby boomers turn 65, the traditional retirement age. New polls, however, show that for a range of reasons few boomers of this age are ready to retire. In fact, some don't ever expect to stop working.

The Price of Aging: Will It Break National Budgets?

Thirty out of 49 major developed countries could see their credit ratings plummet to junk status if they don't make changes soon, says a Standard & Poor's study. The biggest problem is health care spending on the elderly, particularly for long-term care.

Europe's Debt Crisis:
Fixed, or Just Papered Over?

Officially, Europe's fiscal health is on the mend, but each time the Continent's debt crisis is declared history, some ugly financial news quickly emerges to undercut those claims. Indeed, the real eurozone meltdown may still lurking beyond the horizon.

Americans Need Trillions More for Retirement

A new study says that Americans are $6.6 trillion short of the amount they need to retire. The study says that falling stock values and house prices have squeezed Americans%u2019 savings, CNBC reported. Advocacy group Retirement USA commissioned the study and it was conducted by Boston College%u2019s Center for Retirement Research.

Investing at 60: Pacing Yourself for a Long Retirement

Personal finance expert Jean Chatzky has reached the last post in this series, aimed at those of you who are age 60 and over -- or interested in a little advance planning. Here are your tips for making that nest egg last as long as you do.

No More Do-Overs for Social Security?

A provision created to allow retirees to correct the mistake of tapping their benefits too early has been used by some as a fairly lucrative investment strategy. Now, the Social Security Administration wants to put an end to the practice.