Husbands: Poor Retirement Planning Could Lead to Desperate Housewives
by Steve Vernon, FSA
| Poverty among widows is a real problem in the United States.
Married couples should make their retirement planning decisions with the goal
of leaving the wife in good shape financially after the husband dies. To help
you do that, this post provides some tips.
August has been a particularly robust month for helpful
blogs and articles on retirement. Please continue reading for this month's selections.
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Slam Dunk Investing Strategy Too Few Use
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It's not often we're handed a slam-dunk investment
strategy. But last week we got just that, as Morningstar reported that
fees charged by mutual funds are a great predictor of whether a fund is going
to be a chump or a champ. Read here for details in this excellent post by fellow CBS MoneyWatch blogger Carla
Fried.
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| Skimp or Splurge - Millionaire's Car | The automobile you choose to drive can possibly make you a
cool $1.9 million over thirty years. But if you buy into the notion that
"you are what you drive," plan on working the rest of your life!
While most financial planners focus on building retirement
income, an equally important aspect of retirement planning is managing your
expenses. Fellow CBS MoneyWatch blogger Allan Roth makes a compelling case for
driving your cars into the ground. |
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My NPR Interview on Social Security | Last week, I was interviewed on NPR's Talk of the Nation show. The title of the show was The Hole in the Social Security Net . The show covered the funding issues
facing Social Security and Medicare, although my role was to discuss financial
planning aspects of Social Security.
Here's my take on the political and funding issues -- and a link to the
show -- in this column titled Social Security and the Federal Debt: Why You Should Be Worried.
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Tips for Buying Long-Term Care Insurance
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Let's assume you've done your reading and research, and
you've decided to buy long-term care insurance. This is one of the most complex
types of insurance you'll ever buy, and you'll need to pay close attention to
the details. Here are some tips to help you do just that, as part of my
continuing series of columns that address the threat of high long-term care
expenses.
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| Retirement Calculator Roundup: Top Tools for Boomers | So how's that retirement planning going? Not sure? With
these free online tools, you have no excuse for not giving your retirement plan
a mid-stream checkup.
Here's another excellent post by fellow CBS MoneyWatch
blogger Carla Fried to help you get your retirement plan in place.
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How to Find Retirement Work That Pays | Don't quit your job at 65 -- work longer in order to have
enough money to really enjoy your retirement years. That's becoming standard
retirement planning advice from many financial writers. But in this economy,
finding senior employment can be easier said than done. Here's help.
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Medicare Part D Donut Hole: How to Close It Yourself
| Millions of seniors fall into Medicare Part D's hated
"donut hole," where you can potentially spend thousands of dollars
out-of-pocket on prescription drugs. Cash-strapped retirees need to make every
dollar count, so they should be looking for alternatives to paying a lot of
out-of-pocket money for expensive prescription drugs. Read here to learn more.
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| Misunderstandings Are Rampant on Health Care Reform and Medicare
| When it comes to health care reform, seniors are in the dark.
A new national poll reveals that many adults over age 65 are misinformed or confused about the impact of the new law on their Medicare benefits, physicians and the federal budget deficit. Harris Interactive conducted the poll of more than 600 adults for the National Council on Aging (NCOA), a non-profit service and advocacy group focused on seniors and aging.
The new law contains a number of important improvements in Medicare coverage, but fact-free media coverage and political spin have stoked fear among seniors. For more on this topic, read this excellent column from Mark Miller's Retirement Revised website.
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The Retirement Savings Menu: A Visual Take on How Much to Save
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Many people don't necessarily take action steps based on
facts, figures, and analysis; pictures can have a greater impact on their
decision-making than mere numbers. If that's you, here's an entertaining, different take on
figuring out how much you should save for retirement. |
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Thanks for your interest, and stay tuned for future newsletters that explore how to best live the rest of your life. Best regards,
Steve Vernon
Rest-of-Life Communications
P.S. If you think this newsletter will help a friend, please pass it along.
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Just Released
The Second Edition of
Recession-Proof Your Retirement Years
Simple Retirement Planning Strategies That Work Through Thick or Thin
I've updated this popular book to include investment results through the end of 2009 and the latest changes to Social Security. I've also added about 20 pages of content to cover topics that readers have requested. It's still short--under 100 pages--so it's easy to follow and easy to finish. And it still provides a step-by-step program to build reliable sources of retirement income that cover your living expenses and strategies to address the threat of high medical and long-term care expenses. The book is available for bulk purchase by employers and other organizations, or for individual purchase. Please see my website for details on all of my books and DVDs. |
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Welcome to
Our Newsletter!
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We fulfill a need for trusted, practical strategies that you can use to plan your rest-of-life (aka
retirement). We rely on the latest research and analyses, and we'll
keep it simple! And that's all we provide; we don't sell insurance, investments or health products, so we can "tell it like it is."
Here's an archive of past issues.
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Steve Vernon has spent 35 years as a consulting actuary, helping large employers design and manage their retirement programs. Now he's president of Rest-of-Life Communications, where he specializes in providing unbiased, trusted information about retirement. He also consults to Mercer's US Retirement, Risk and Finance business, and writes a regular column for CBS MoneyWatch titled Money for Life.
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For information on keynote addresses, workshops or presentations on retirement issues, visit Steve's website at www.restoflife.com, or email him at steve.vernon@restoflife.com
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