It seems that people tend to ignore logical arguments for delaying their Social Security benefits and let aversion to loss influence them more, a common behavioral finance phenomenon. That's one of the many conclusions from an interesting study recently conducted by the Society of Actuaries (SOA) and Matthew Greenwald and Associates. Read here to gain insights into how to balance emotion with logic when thinking about when to claim Social Security benefits.

 

An overwhelming body of evidence shows that actively managed mutual funds underperform their appropriate risk-adjusted benchmarks. In addition, little to no evidence points to persistence of performance beyond the randomly expected, which means past performance isn't prologue.

That's the reason for one of the great puzzles in finance: Why do investors continue -- with such great persistence -- to buy actively managed funds that underperform their benchmarks? Learn more in this insightful post from fellow CBS MoneyWatch blogger Larry Swedroe.

 

 

More people than ever are planning to work into their retirement years, and many say it's necessary to make ends meet. This post describes a recent survey by Merrill Lynch and Age Wave that suggests working in retirement is becoming the new normal and discusses the trends that support this notion. It also provides good advice for people who are approaching their retirement years and planning to work.

 

How can you work in retirement so it doesn't feel like more of the same old grind? In this post, I asked two experts on working in retirement for their views on how to make retirement work fulfilling and engaging.

  

Finally, this last post summarizes key ideas from the Merrill Lynch/Age Wave survey to help you design your retirement career.

   

"Oh yeah!" said Don and Sharon Curtis enthusiastically when I asked if they're enjoying retirement.

One sure way to learn about any important topic is to study what successful people do. That's why I wanted to talk more with a couple who's doing well in retirement and see what others could learn from their example. Read here to learn more about their story.

 

~~~~~

 

 Money for Life

    

Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck

 

My latest book, published in 2012, answers two of the most important financial questions you'll ever face:

 

How much money do you need to retire?

 

How can you generate reliable income from your retirement savings that lasts for the rest of your life, no matter how long you live and no matter what happens in the economy?

 

Addressing these questions is one of the most critical challenges facing the retirement industry today. 

 

Money for Life is an easy-to-read, easy-to-understand book that outlines specific action steps and includes illustrations and graphs to reinforce the main points. It describes in simple terms the three methods you can use to generate a "retirement paycheck" from your retirement savings. It explains the pros and cons of these methods, as well as their many varieties and permutations. One critical element is the amount of the retirement paycheck you'll be able to generate, which can vary widely depending on the method you choose to generate retirement income.

 

This new book is available in both print and e-book format.  It complements my other published works on retirement planning -- my book, Recession-Proof Your Retirement Years; my DVD, The Quest for Long Life, Health and Prosperity; and my retirement planning website, Money for Life.

 

Please see my website for details on all of my books and DVDs.