NOVEMBER-DECEMBER, 2014

Are you heading for a retirement crisis?

    by Steve Vernon, FSA

 

It seems that practically every week you read an article about a looming retirement crisis in the U.S. Read this post to learn about the various views on the potential size of our nation's retirement crisis. Then read my second post that advocates why you should take steps to avoid your own retirement crisis rather than simply worrying about the headlines you read.

 

Please keep reading for this issue's helpful articles and stories.

 

How to look after your spouse after you're gone

 

If you're married, it's almost inevitable that you or your spouse will die first. Unfortunately, many married couples overlook this basic fact of life when planning for retirement.

 

This is particularly troublesome for women, as noted recently by the Boston College Center for Retirement Research. The center pointed out that widows tend to face more financial adversity than widowers. But a well-thought-out retirement plan ensures that the surviving spouse has enough retirement income and other financial resources to last the rest of his or her life.

 

5 keys to make your nest egg last for life                        

 

Most retirees are now responsible for making their retirement savings last as long as they do, given that 401(k) plans have replaced traditional pension plans as the retirement income vehicle for many workers. Yet many people lack a basic knowledge of the critical issues involved with making their money last. Read here for the issues you need to understand before tackling this critical aspect of retirement planning.


Should you accept a lump-sum pension cashout?               

 

Many employers are offering workers with traditional defined benefit pension plans a chance to exchange their guaranteed lifetime income for an immediate lump sum payment upon retirement. Typically, these offers are made to employees who've ended their employment but haven't yet started receiving retirement income. Here's what you should consider when choosing whether to receive payments disbursed over your lifetime or in a single payout.


Can you improve brain health? Scientists weigh in            

 

As baby boomers age, dementia and Alzheimer's could create significant financial and social burdens in the years to come. As a result, scientists are researching ways to mitigate or even prevent these dreaded conditions, and corporations are smelling a business opportunity. Read here to learn about some experts' views of the benefits of brain games and related forms of cognitive training.

 

Should you use your home equity for retirement income?                  

 

Older Americans often have more home equity than retirement savings and other financial assets, according to a recent report from the Boston College Center for Retirement Research. That means people approaching retirement with modest retirement savings and substantial home equity may want to consider the best use of their most valuable asset. Read here to see if this retirement income generating strategy might be right for you.

 

Good Gen X retirement tips from an ordinary guy  

 

Here's an effective retirement strategy I was recently told about by a reader (let's call him Joe) who wrote in response to my story about America's retirement crisis. He also had some pretty strong words about the consequences of not taking the necessary steps to plan for retirement.


Don't hire a financial advisor until you do this 

 

Many advisors and financial institutions would love to manage your 401(k) account after you terminate employment. Of course, they'll charge you for this service, so you need to ask yourself if you'll be receiving good value for the fees you'll be paying. Read here to find out how you can determine if you're getting your money's worth.


Half of all Americans aren't in a retirement plan 

 

Retirement plan participation numbers paint a stark picture for many workers. Read here to learn why you should be concerned, even if you participate in a retirement plan.

 
Are you retiring for the right reasons?

   

People choose to stop working for a variety of reasons, but some are better than others. Read here for a checklist of the good and bad reasons to retire.


How to turn cheaper gas into retirement savings  

  

The lowest gas prices in years isn't only an opportunity for motorists to cut fuel costs -- it's also a chance to fill up your retirement savings.

Indeed, although cheap gas can boost the U.S. economy as a whole, many people would benefit more by squirreling the savings away in an IRA or 401(k) account. Read here to learn about a good way to take advantage of lower gas prices that will benefit your retirement years.  

 

~~~~~

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.
 

_______________

 Money for Life

    

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

 

My latest book 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.
_______________

Welcome to

 Our Newsletter!
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.

 
Hour Glass & Money

 
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 is a Research Scholar at the Stanford Center on  Longevity, and writes a regular column for CBS MoneyWatch titled  Money for Life.

_______________



For information on keynote addresses, workshops or presentations on retirement issues, visit Steve's website at www.restoflife.com, or email him at [email protected]

____________

Want to Learn More?

If you want to learn more about a topic, or if you have any ideas or thoughts on the topics in this newsletter, please send Steve an email at:


Join Our Mailing List

We do not share our mailing list or send advertisements.  You will not receive any spam as a result of subscribing to this newsletter.


� 2014 Steve Vernon/
Rest-of-Life Communications
All rights reserved.