Talking Retirement

Spend Less, Save More

According to Fidelity Investments, most Americans are on track to only replace 57% of their pre-retirement income in retirement. How can you beat that number? By spending less and saving more. Boston.com has an article with may good ideas on how to do just that. Read the article.

Most Boomers Will Not Inherit Much

A new study by the AARP concludes that only about 15% of baby boomers will inherit anything at all. Why? Longevity. Their parents are living longer and requiring more medical care, which depletes assets. Read the story here.

Work Two More Years

Here’s a little good news. Apparently, working just a couple of more years can make a big difference to your retirement income. Besides postponing the date at which you begin collecting Social Security (which can increase the dollar amount of your benefit for life), this also gives you a chance to save more and pay off debt, among other things. Learn more in this article from AzCentral.com.

Plan On Living A Long, Long Time

If you read TR often, you know that Walter Updegrave has a column on the CNNMoney site that John and I both really like. In this edition, he offers some sound advice to a Bridgeport, CT man who wonders why he (Mr. Updegrave) often advises people to plan on living to 90 or beyond. Read the article here.

Retiring Where You Are

Retiring to a sunny destination has, for many years, been a popular option in the US. But many retirees choose to stay put to remain close to family and friends. Real estate developers are responding by building “active adult” communities across the US. Read about this trend in the Arizona Daily Star.

Discuss Retirement With Your Partner. Now.

Are you and your partner on the same page about retirement? It’s good to know. Sandra Block has an interesting piece on the USA Today site about why couples should discuss their retirement plans and goals sooner than later. Three things to consider:

1. When you plan to retire
2. Where you plan to live
3. What you want to do

Read the article on USA Today.

Retiring With Less

If recent surveys are correct, many (if not most) Americans will reach retirement age with less savings than they will need to maintain their current lifestyles. Liz Pulliam Weston has a piece on MSN money that offers some ideas about how to retire with less. Read How To Retire On A Wounded Portfolio here.

Life Care Communities

The Pittsburg Post-Gazette has an interesting piece this morning. It’s about a new development for retirees called Providence Point. This development is one of many “life care” communities that are springing up around the country. These communities offer luxurious living (pools, spas, etc.) in exchange for a hefty up-front fee that can often be several hundred thousand dollars. You also pay a few to several thousand dollars a month to live the remainder of your life with the degree of care that you need. Read the article.

Best Retirement Plan: Spend Less

Scott Burns has some good answers for a 72 year-old who is still working and wonders how much money it takes to retire. First, he tells him there is no such figure, as it depends on individual circumstances. Then he describes how concentrating on your expenses can have a tremendous impact on your retirement. Read the article in the Houston Chronicle.

Finding a Rewarding Life During Retirement

Will you find retired living rewarding? Leaving behind a busy career for a life of leisure could be more difficult than you might imagine. Five Golden Rules for the Golden Years offers some suggestions on finding more joy during your retirement years. Here is an overview of the topics covered in the article.

1. Find New Things to Say.
2. Get Active.
3. Discover a Place You Love.
4. Give Something Back.
5. Spend Time with Those You Cherish. (Tip: It’s good for your heart in more ways than one.)

Read the article.