How to retire happily on less than $1 million

The theory behind that goes something like this: A $1 million nest egg can generate around $40,000 per year in inflation-adjusted income. That combined with the typical retiree’s Social Security payment of $1,360 per month brings that retiree’s income to around $56,320 per year, which is right around the median household income.

Retirement Anxiety Is Gripping America

A few weeks after the Republican-controlled U.S. House of Representatives moved to kill rules allowing states to create portable retirement savings accounts, a new survey found that 75 percent of Americans support just such an option. The response was a common refrain in a report that echoed the growing dread of living out one’s golden years in poverty.

Dhanayshar blanked

Despite an appeal by Independent Senator Dhanayshar Mahabir in the Senate yesterday, he failed to get the required support for his motion to start the process for certain Senators “without portfolio” to benefit from a pension in the future. When the vote was taken, Government, Opposition and even Independent Senator Ian Roach – who sits next to Mahabir – did not support the motion.

The new retirement: work until you drop

Not so long ago, you might work to 65 and collect a gold watch then enjoy grandkids, a bit of travel and a healthy superannuation. But that model has been decaying for years, driven by the new realities of a longer life expectancy, a desire not to be forced out of the workforce when still healthy and the need to pay for an enjoyable 20 or 30 years after the age of retirement.

City of Concord to Host Workshop for Retirement Planning

The Concord Senior Center is hosting a workshop for people who want to learn about the role of social security, Medicare, pensions and plans such as 401Ks and IRAs in retirement. The workshop will take place for an hour a week over three weeks on Tuesdays, Jan. 10, 17 and 24, from 7 p.m. to 8 p.m. The sessions will be held at the Senior Center, 2727 Parkside Circle.

Largest public pension system to sell all tobacco stocks

The California Public Employees’ Retirement System decided Monday to sell its last $550 million worth of tobacco-related investments nearly two decades after trading away the bulk of them. In a 9-3 vote, the CalPERS investment committee disregarded the advice from its own financial advisers who recommended reversing a sell-off approved in 2000, which has cost the system more than $3 billion in lost earnings.

The nation’s largest public pension system is giving up tobacco.

The California Public Employees’ Retirement System decided Monday to sell off its last $550 million worth of tobacco-related investments nearly two decades after trading away the bulk of them. In a 9-3 vote, the CalPERS investment committee disregarded the advice from its own financial advisers who recommended reversing a sell-off approved in 2000, which has cost the system more than $3 billion in lost earnings.

article

… can do about those costs. Healthcare costs for the average over-65 household is $5,756 per year, including $3,900 for health insurance and another $672 for drugs. If your costs are higher, make sure to adjust your spending projection upward. If …