A digest of timely information and insight about finance, investing, and retirement.
10 Things to Know About RMDs | BenefitsPro
RMDs or Required Minimum Distributions are required for retirees age 70½ or older. Find out about deadlines, penalties, and requirements in this article.
Here’s how much the average family has saved for retirement at every age | CNBC
How does your retirement savings nest egg stack up against what the rest of America has saved? Find out in this analysis conducted by the Economic Policy Institute.
The best investment for retirement? Try marital counseling and a home miles away from your kids | The Globe and Mail
Money may not be all it takes to live happily ever after in retirement. After a certain amount of investable assets, happiness tends to decline with further wealth according to the Health and Retirement Study, a long-run study sponsored by the National Institute on Aging and the Social Security Administration.
Older Workers Unable to Retire Cost Employers $50,000 a Year | PlanSponsor
New research shows the cost for employers with workers who delay retirement to be 1 – 1.5 percent of payroll. The study, conducted by Prudential, found that 57 percent of finance executives said they think a significant proportion of their workforce will delay retirement because of inadequate retirement savings.
Retirement Choice Causing Some to Run Out of Money | Forbes
Why employees should think twice about taking a lump sum benefit in retirement and the impact of “the lottery effect” on those who do.
When it comes to retirement, a dream isn’t a plan | MarketWatch
Comparing vacation planning to retirement planning and 13 questions everyone needs to ask to plan for a successful retirement.
How does pre and post tax medical insurance, etc. affect PERA retirement benefits. We make the same gross pay but I was told to change my deductions at least 5 years prior to retirement. Again, I don’t understand that because I thought PERA retirement was based on gross pay like soc. security.
thank you.
In one of your articles from Benefits Pro – 10 Things to Know About RMD’s – I’m pretty sure some info is incorrect. It says RMD’s begin when a retiree turns 70 1/2. That has recently changed to 71 1/2.
Am I correct?
Hi Gloria–sharp eye! You are correct. The age at which RMDs kick in was 70.5 when this article was published a few years ago, but this summer it changed to 72 due to the SECURE Act becoming law. You can read more here: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds