An interesting study by Willis Towers Watson determined that having an annuity income source was a significant factor in retirement happiness. An annuity income might be provided by an old-fashioned pension, but many employees no longer have access to that kind of pension. The alternative for them would be to use personal savings or funds from a 401k to purchase an annuity from an insurance company. The study found that the presence of some sort of annuity income stream was a particularly significant factor in retirement happiness in households without a lot of retirement investments.
It's realistic to assume I might live to be 100 years old. Or even older. The demographics, and current life expectancies confirm that. If I had retired at age 60, that would have been 40 years of retirement. If I wait to age 70, it's still 30 years of retirement. It's a little mind-boggling to think about living that long, but the possibility is a reality.
This report examines the evidence on the cost of conflicted investment advice and its effects on Americans’ retirement savings, focusing on IRAs. Investment losses due to conflicted advice result from the incentives conflicted payments generate for financial advisers to steer savers into products or investment strategies that provide larger payments to the adviser but are not necessarily the best choice for the saver.
This is scary stuff. Medicare is critical if you want to retire. Without it most boomers and seniors would have crippling medical costs in retirement. Privatizing Medicare is NOT a solution. It would save the government money but throw the risk, and increasing costs, back on the recipients. And it's not broke! Don't break it!
Over the course of the past four years, I’ve met an increasing number of retirees who have yet to find an enjoyable and productive use of their manifold talents and unbridled energy. Some have been so negatively impacted by retirement that they’re beginning to exhibit signs of depression, and medical issues are beginning to emerge. Given the plethora of needs in the communities where we live, and the talent possessed by retirees, there’s no need for any of us retirees to be bored, nor for needs of the community to go unmet.
AROHE is a dynamic member network that advocates for, educates and serves campus-based organizations for retired faculty and staff. By promoting a culture that values and encourages retirees' continuing contributions to campus and community life, AROHE helps colleges and universities to harness the remarkable talents of their retired faculty and staff to further the missions of their institutions.
We are revisiting what we mean by retirement, and it’s very clear that the definition of what people do even into their 70s is changing a lot, and people are continuing to work full time, continuing to work part time, and that has increased more for women than for men. There has been a big change in family structure, increases in divorce have left women more on their own, they may not be dependent on their husband’s pension or Social Security benefits, and of course women are living longer than men. So they have more need to think ahead to retirement.
We’re about to pay the price for all the good times.