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!
Do you have a plan for generating retirement income? Do you have any idea how much retirement income you can expect to generate from your existing retirement investments? There are at least two fast and easy ways to make this prediction. (And forget the outdated and discredited “4% rule.”) Stated another way, the CoRI Index number helps you estimate how much savings and investments you need today to generate a dollar of future, cost-of-living adjusted annual lifetime income starting at age 65. For example, today’s CoRI index for my age (63) is $19.17.
Men's Sheds movement helps men find sense of purpose when they retire. Men’s Sheds began in Australia and are ‘the shed at the bottom of the garden’ but larger, well equipped with tools and benches and run by a bunch of guys as an inclusive, practical, unprogrammed domain of shared space, work and leisure. They can be for individual pursuits or community projects and they can offer people greater purpose, achievement and social interaction.
How much can you afford to spend in retirement? The answer is getting a little more complicated.
Many of Americans assume they’ll find a part-time job or start a consulting firm after they retire. Anthony Webb, the New York-based economist for the Center for Retirement Research notes that there’s a bit of self-delusion at work here.
“The truth is that when people leave their ‘lifestyle jobs’, they end up leaving the workforce pretty quickly,” Webb says. “It’s well documented that all the ‘bridge jobs’, the consulting gigs, the part-time work lasts perhaps a year or two, but not longer.”