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Tag: retirement

Why this may be the only retirement book you’ll ever need

Why this may be the only retirement book you’ll ever need

Finance
Jane Bryant Quinn, personal finance expert and author.Jane Bryant QuinnIn an era when everyone with a checkbook fancies himself a money guru and blogger, it's refreshing to see "How to Make Your Money Last" by Jane Bryant Quinn updated and reissued.Jane eschews the typical and bland bromides, such as "eat ramen" and "save more," that often passes for financial advice these days for practical, actionable information organized by the topics retirees and those close to retirement need to grapple with and understand, such as Medicare, Social Security, pensions and more.For example, in the book she delivers a great takedown of cash-value life insurance when sold as "free" retirement income, when the reality is it's a complex, fee-laden product pitched to unsuspecting consumers who may not reco...
New programs aim to help the 55 million people without workplace retirement savings plans

New programs aim to help the 55 million people without workplace retirement savings plans

Finance
Anfisa Kameneva | EyeEm | Getty ImagesMany workers don't have access to retirement savings programs. That is changing.Now, efforts on both a national and state level aim to give more individuals access to plans.In December, Congress ushered in the Secure Act. Among the changes included in the legislation are new ways for small businesses to work together to offer 401(k) plans, called multiple-employer plans, or MEPs.Meanwhile, a handful of states are putting automatic individual retirement accounts in place to give workers a way to save directly through their paychecks.Both efforts come at a time when many individuals' retirement savings are woefully low. Working households with access to 401(k) plans typically have accumulated $ 111,000 retirement savings by ages 55 to 64, according to th...
Here’s where younger generations expect their retirement income to come from

Here’s where younger generations expect their retirement income to come from

Finance
Hero Images | Hero Images | Getty ImagesMany Americans believe they will live longer than their parents.For younger generations, that has led to a big concern: how they will provide financially for those extended years.That's according to a new online poll from the Longevity Project and Morning Consult, which surveyed 2,200 U.S. adults in December.Of the individuals polled, 63% said they expect their lives to be longer than their parents'. That rate was even higher for members of Gen Z, those ages 18 to 22, with 70% indicating they expect to live longer.More from Personal Finance:Here's how to pay down debt and set yourself up for successThis online tool helps figure out how much cash you needHere's when your tax return could spark interest from the IRSDespite those hopes, many individuals...
New strikes, protests as France unveils retirement bill

New strikes, protests as France unveils retirement bill

World
The Eiffel Tower is closed because of a strike and unions are holding new protests against changes to France's retirement systemByThe Associated PressJanuary 24, 2020, 10:15 AM3 min readPARIS -- The Eiffel Tower shut down Friday as French unions held last-ditch strikes and protests around the country on the day the government unveils a divisive bill redesigning the national retirement system. Travelers faced renewed disruptions on regional trains and the Paris subway on the 50th straight day of record strikes, and some schools and other public services also faced walkouts. The Eiffel Tower closed exceptionally, and the Versailles chateau and Louvre Museum warned visitors of potential disruptions. The number of striking workers and halted trains dropped considerably this week after the go...
More than half of savers say this about the health of their retirement accounts

More than half of savers say this about the health of their retirement accounts

Finance
Many workers don't need experts to tell them they aren't putting enough away for their golden years — they apparently already know it.More than half of U.S. adults (52%) say they are behind where they should be when it comes to saving for retirement, according to a new survey from Bankrate.com. Among pre-retirees, the lag is more pronounced: 57% of younger baby boomers (age 55 to 64) and 63% of Generation X (age 39 to 54) say they're behind."If you look at the economy, you might say it's great," said Mark Hamrick, senior economic analyst at Bankrate.com. "But the reality is that there can be disconnects between it and Americans' personal finances."Jamie Grill | Getty ImagesThe economic expansion, now in its 11th year, has been accompanied by strong stock market gains — and in turn has led