Tag: "Early Retirement"

Baby Boomers vs. Generation Y

The Insured Retirement Institute released a survey this week (described on the Wall Street Journal”s Smart Money blo Meditation Expert. g) about the state of baby boomer retirement. It is indeed a sad state, but nothing new to report. As previous surveys have indicated, they are simply not ready: 35 percent of 50 to 66 […]

Why Patience Pays in 401(k) Saving

A new survey from the Employee Benefits Research Institute and reported in the found that 0.2 p Master Mentalism – Magic Instruction. ercent of 401(k) participants have reached $1 million in savings in their 401(k) plans. They keys to this success? Consistent saving over at least 20 years and contributing high amounts – if possible, […]

Retirement May be Attainable After All…If You Work Just a Bit Longer

I will admit, I am a bit of a “retirement nag,” and am quick to point out the doom and gloom stories of hard-working individuals who may not have enough to retire at the age they wish. Yes, I am the finger-wagger when it comes to preaching the benef its of saving early, saving often, […]

The Rest of the Retirement Story

Another sobering about retirement, or lack thereof: Households that expected to find retirement just around the corner will have to work longer. The main reason? Debt, debt, and more debt: mortgages, home equity loans, kids’ college expenses and credit card debts are saddling 60- to 64-year-old households who expected their retirement-age years to be stress-free. […]

Walk….Don’t Run When the Financial Markets Speak

One of the most important things to remember in an emergency is to remain calm. Panic tends to cloud a person’s rational thinking and judgment. In every situation, panic can create more problems than it solves. It does two things: 1) It causes us to misunderstand the ramifications of the problem we are trying to […]

Scaring Seniors…Again

Okay, let me get this straight: President Obama announced today that if a deal on the deb t ceiling is not reached he cannot guarantee that seniors” Social Security checks will go out on August 3. Thus, in the world of political posturing, some 70 million Social Security and Veterans benefit checks that go out […]

Dying in the Harness

The Employee Benefit Research Institute released a sobering report on the state of personal retirement.  According to EBRI, the lowest 25 percent of income earners among baby boomer households would need to work into their mid 80s before 90 percent of them would have an even 50 percent chance of having retirement income to meet […]

Marketing retirement to whom?

As I watched the Superbowl commercials almost two weeks ago, I came to the decision that I needed to write about an issue that has bothered me for months now:  commercials for retirement planning. 

Is Some Serious Entitlement Reform on the Way?

Some preliminary recommendations from the White House Debt Commission were released.  (See NYT article, “Panel Seeks Social Security Cuts and Higher Taxes“).  While these recommendations are yet to be negotiated among commission members for release in a final report, they at least represent a willingness of members to consider the elephant in the living room:  […]

Be Cautious About Raiding Your 401(k)

Desperate times call for desperate measures, as an increasing number of people are taking hardship withdrawals from their retirement plans (see WSJ's “How to Tap Retirement Funds Responsibly“).   For some, these withdrawals can make the difference between paying down debt or getting harrassed by collection agencies, keeping up the with mortgage or moving in with the in-laws.   But before desperation […]