AARP Names Top Ten Affordable Retirement Cities

Retiring seniors may want to consider moving to Winchester, Va., Portland, Maine, or Gainesville, Ga., because of their affordability, thanks to low median housing prices and lower taxes, says AARP. With home values averaging just over $165,000, these cities are the top three on AARP’s 10 Most Affordable Retirement Cities list. While there’s state tax […]

Despite Retirement Concerns, 32% of Middle-Income Boomers Own Their Homes

Americans are suffering from low home values, lack of personal savings and battered retirement accounts, but they are showing commitment to saving, says a study of 500 middle-income Americans between the ages of 47 and 65. Of those surveyed, 32% have already paid off their mortgages, but close to half, or 48%, say they do […]

Number of Seniors Working Past Age 65 Surges 58%

Americans are working longer than ever before, and many do not see an end in sight when it comes to quitting work for retirement, the Wall Street Journal reports. A WSJ article titled, “For Many Seniors, There May Be No Retirement,” details the concerns many seniors are having when it comes to holding onto their […]

Delay Social Security Benefits and Choose Annuities, GAO Recommends

Seniors should delay cashing in on their Social Security benefits and opt to invest in annuities, most financial experts agreed in a June 2011 Government Accountability Office (GAO) Retirement Income report. Titled Ensuring Income throughout Retirement Requires Difficult Choices, the report mentions the importance of not just preparing for retirement, but also maintaining and continuing income during retirement. In 2009, […]

Retirement Funds are No. 1 Financial Concern for Americans

A 2011 Gallup poll shows that two-thirds of Americans worry they will not have enough money for retirement, making it their top concern out of eight possible financial items. This represents a 13% increase in a 10-year period. In 2001, Americans’ top three concerns were related to retirement security, having enough funds in the event […]

AARP: One Fourth of Seniors Have Exhausted Personal Savings

A recent AARP report shows that 31.6% of seniors have experienced a substantial decline in their homes’ values in the past three years, and a fourth have exhausted their personal savings. The AARP’s Public Policy Institute report, titled Recovering from the Great Recession: Long Struggle Ahead for Older Americans, details the impact the recession has had on older […]

Gloomy Forecast for Boomers’ Retirement Security

Retirement for Baby Boomers and Generation Xers (those born after 1965) will be a very different experience from that of the previous generation of retirees because of the financial crisis, says Alicia Munnell, the director of the Center for Retirement Research at Boston College. The Center came up with a National Retirement Risk Index that […]

Majority of Americans Don’t Think They Will Have Enough in Retirement

More than half of working Americans do not believe they will have enough money to live comfortably in retirement, says a recent Gallup poll. Approximately 53% of those surveyed shared the negative sentiment, a sharp increase from a third of survey respondents in 2002 (see chart). The figure represents a new high level of response […]

One in Four Baby Boomers Say They’ll Never Retire

Forty-four percent of baby boomers express little or no faith they’ll have enough money to retire, a recent poll says. And one in four who are still working say they’ll never retire. The Associated Press-LifeGoesStrong.com poll states that many baby boomers, while they are starting to retire, are agonizing about finances and expect they will […]

20% of Workers Expect to Retire Later Than Planned

Twenty percent of U.S. workers say their expected retirement age has increased over the past year. An annual Employee Benefit Research Institute survey found the 20% increase in 2011 was statistically similar to 24% who said they were planning to postpone retirement in 2010. The study, EBRI’s 2011 Retirement Confidence Survey, found several frequently cited […]