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Mar 9, 2012

Retirees move, but not very far

CHICAGO (Reuters) – When Harvey and Cora Alter decided to move away from Washington, D.C., for their retirement, friends were surprised to hear where they were going.

The Alters weren’t even crossing a state line. They would move just 30 miles north of Rockville, Maryland, where they had raised two daughters, to Frederick — a town of about 65,000 on the outskirts of the Washington-Baltimore metro area near the Catoctin Mountains.

Mar 9, 2012

Retirees move, but not very far

CHICAGO (Reuters) – When Harvey and Cora Alter decided to move away from Washington, D.C., for their retirement, friends were surprised to hear where they were going.

The Alters weren’t even crossing a state line. They would move just 30 miles north of Rockville, Maryland, where they had raised two daughters, to Frederick — a town of about 65,000 on the outskirts of the Washington-Baltimore metro area near the Catoctin Mountains.

Mar 8, 2012

U.S. retirees move, but not very far

CHICAGO (Reuters) – When Harvey and Cora Alter decided to move away from Washington, D.C., for their retirement, friends were surprised to hear where they were going.

The Alters weren’t even crossing a state line. They would move just 30 miles north of Rockville, Maryland, where they had raised two daughters, to Frederick — a town of about 65,000 on the outskirts of the Washington-Baltimore metro area near the Catoctin Mountains.

Mar 7, 2012

Is an annuity in your future?

CHICAGO (Reuters) – You’ve done a good job building your 401(k), and retirement is not far off. The question now: how to make sure that nest egg generates sufficient income to sustain you through a retirement that might last two or three decades.

For years, retirement income has been something of a holy grail for retirement experts who worry about longevity – the risk that you will outlive your money. One solution is the income annuity.

Mar 7, 2012

YOUR MONEY: Is an annuity in your future?

CHICAGO, March 7 (Reuters) – You’ve done a good job
building your 401(k), and retirement is not far off. The
question now: how to make sure that nest egg generates
sufficient income to sustain you through a retirement that might
last two or three decades.

For years, retirement income has been something of a holy
grail for retirement experts who worry about longevity – the
risk that you will outlive your money. One solution is the
income annuity.

Mar 1, 2012

Who could be against Obama’s tax break on RMDs?

By Mark Miller

(Reuters) – Talk about an easy lay-up shot. Buried in President Obama’s 2013 budget is a proposed tax break that would make retirement easier to manage for half of America’s seniors – at very low cost to government coffers.

The administration proposes exempting seniors from the rules requiring them to take distributions from tax-deferred retirement accounts starting at age 70½, so long as their total balances don’t exceed $75,000. The exemption would benefit fully half of the owners over that age of IRA, 401(k) and other tax-deferred accounts from the required minimum distribution (RMD) rules.

Mar 1, 2012

COLUMN: Who could be against Obama’s tax break on RMDs?

March 1 (Reuters) – Talk about an easy lay-up shot.
Buried in President Obama’s 2013 budget is a proposed tax break
that would make retirement easier to manage for half of
America’s seniors – at very low cost to government coffers.

The administration proposes exempting seniors from the rules
requiring them to take distributions from tax-deferred
retirement accounts starting at age 70½, so long as their total
balances don’t exceed $75,000. The exemption would benefit fully
half of the owners over that age of IRA, 401(k) and other
tax-deferred accounts from the required minimum distribution
(RMD) rules.

Feb 29, 2012

American Air pension battle may spread

CHICAGO (Reuters) – American Airlines wants to terminate the pensions of 130,000 workers as part of its bankruptcy proceeding. The move would be good for the company’s balance sheet, but would it be good for America?

American’s pension termination would be the largest in U.S. history. The airline wants to end the plans and turn them over to the Pension Benefit Guarantee Corp (PBGC), a government-sponsored agency that insures most private-sector defined-benefit pensions through premiums paid by plan sponsors.

Feb 23, 2012

How much does retirement really cost?

NEW YORK (Reuters) – Most retirement planning exercises begin and end with a simple question: How much income will you need to replace after you quit work?

But looking at income alone isn’t enough, as spending habits change during retirement — you’re no longer paying FICA taxes, saving for retirement or incurring work-related expenses for clothing and transportation. And saving habits change, too.

Feb 16, 2012

Lack of financial literacy can hurt retirement

By Mark Miller

(Reuters) – Okay, folks — it’s time for a Personal Finance 101 quiz. Please answer the following three questions:

1. Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After five years, how much do you think you would have in the account if you left the money to grow (more, less or the same)?

    • About Mark

      "Mark Miller is a journalist and author who writes about trends in retirement and aging. He has a special focus on how the baby boomer generation is revising its approach to careers, money and lifestyle after age 50. Mark is the author of The Hard Times Guide to Retirement Security: Practical Strategies for Money, Work and Living (John Wiley & Sons/Bloomberg Press, 2010) and edits RetirementRevised.com. Mark is the former editor of Crain’s Chicago Business, and former Sunday editor of the Chicago Sun-Times. The opinions expressed here are his own."
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