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Mar 15, 2012

Jobless in midlife? Old brains can learn new tricks

By Mark Miller

(Reuters) – The Great Recession has left millions of midlife Americans up a creek without a paddle. Having lost jobs at the peak of their careers, they must find new work for the second half of their lives. Many will likely need to reinvent their careers — and may consider themselves too old to embark on something new.

Mark Walton begs to disagree.

The former CNN correspondent transformed his own career 20 years ago by becoming a Fortune 100 leadership consultant. Now 61, Walton has spent the past five years studying people who transformed their careers successfully in their 50s or early 60s, and invented new ways of working that extended into their 70s, 80s or even 90s.

Mar 9, 2012

Americans retire closer to home than in past

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 (50 km) 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 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.

    • 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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