February 8, 2012 — Some weeks much good retirement advice comes in that we can’t possibly write about all of it. Since we didn’t want you to miss any of it, we’ve put together capsule summaries and links to all the great stuff. Here goes:
5 Myths About Retirement Homes. This story from Time Magazine’s Moneyland is essential reading for any baby boomer who is willing to be objective about his or her impending retirement. The 5 points have some bite to them, but they all make terrific sense. Case in point, point #5, “Retirement Centers are filled with the sick and dying”. Click on the title to find out what the real truth is.
Do You Have a Case of Retirement Schizophrenia? This short piece from CBS MoneyWatch explores some of the great contradictions that boomers have about their retirement. Those include their expectations about being happy in retirement, outliving their money, and taking care of a very ill spouse (hint: things will be very rosy… unless they’re not!).
What Do Boomers Want in Retirement? Mason-Dixon Polling and Research conducted a survey for the non-profit organization Consumer Federation of the Southeast in November to determine baby boomers consider most desirable in a retirement destination. As reported in the Sarasota Herald-Tribune, the results contrasted what boomers find desirable – and what they consider most important in making their decision. On the predictable side; good healthcare, housing costs, appealing climate, low local taxes, educational opportunities, the art and cultural scene, and ample recreational opportunities are all desirable qualities. But when it comes to deciding where to live, it is climate, health care, and housing costs that are the real drivers.
When Should I Retire – And a Whole Lot More Answers. This series from the American Society of Actuaries presents an amazing list or practical reports and advice on different aspects of retirement planning. Some of the reports include “Women and retirement”, “When to claim social security”, “When retirement comes too soon”, “Securing health insurance”, and a whole lot more.
Retirement in America is Endangered. Bob Powell has written an excellent piece on the areas of American retirement that desperately need some well-thought out fixes. Notably those include social security, worker contribution rates, retirement tax breaks, and the problem of outliving one’s assets. This thoughtful article includes many references that will increase your understanding of the issues we all face in retirement.
Comments? Please share your comments on the issues brought up by these resources. What are your top retirement myths, problems, and planning issues? Please share your thoughts with your fellow members in the Comments section below.