Friday, May 29, 2015

The Inquirer's 2012 Retirement Guide

The Inquirer's 2012 Retirement Guide

PhillyInc: Those who stayed the course through the highs and lows of the market, including the 2008 crash, have found that there is reason for optimism.




There is anecdotal evidence that suggests baby boomers are delaying moving until the real estate market improves.




Consumer 12.0: One concern that is shared by many aging boomers is the possibility of bad and costly things that can happen. That's where Friends Life Care might play a role.




Web Wealth: Everyone should do some retirement planning, and here are some sites that can guide the way.




MoneyCrashers: Just out of college and working at your first job? While retirement might be the last thing on your mind, now is always the right time to get started in putting money into a fund for your golden years.




Stepping away from the workplace soon? Better factor in money for health care and a lot of it. You should plan on spending $240,000, according to Fidelity Investments.




Many in the first wave of baby boomers reaching retirement age aren't wasting any time in stepping away from the work world. And for those who have left, they report that the pastures are indeed greener on the other side.




Investing for your retirement is an expensive obligation that you have to handle on your own. And as an added distraction, you often need to factor in a college education for your child or children.




What's it like being the daughter of one of the most well-known brokers -- Charles Schwab? Well, for one, you develop a common-sense approach to money, saving and investing. Carrie Schwab-Pomerantz offers some advice.




A Roth IRA isn't just for adults. Anyone can open an account. Even a child who earns money cutting grass or tending to a neighbor's pet. The benefits down the road can be sizable.




The U.S. Treasury has launched its “Ready. Save. Grow.” campaign to get people focused on setting aside savings — online.

What is or will be your main source of retirement income?
Social Security
Company pension or other employer-provided retirement plan
Company and/or personal 401(k) plan
Personal invesments: Stocks, bonds, funds, property, etc.
Reverse mortgage on property
Inheritance or trust fund
Spouse's income
Government assistance




Are you financially prepared for retirement?
Yes, well prepared
No, but I'm on the right track
My plans were derailed: Death, divorce, unexpected expenses, lawsuit, etc.
I don't know (spouse or accountant handles such matters)
I'm not close at all
I don't care about retirement income




What is your primary concern about retirement?
Medical bills will drain my retirement account
I will outlive my retirement fund
Social Security will be gone by the time that I retire
The cost of living will be more than I can afford
Rising energy costs, including gasoline, heating oil, natural gas and electricity.
My children will take my money without my knowledge
An unscrupulous person will attempt to scam me
My cat(s) will outlive me




What do you plan to do with your home upon retirement?
No changes – I plan to remain in it
Sell it within the next five years
Rent it out and move to a different city or state
Give or sell to a spouse, sibling, other family member or someone close to me
Use a reverse mortgage to provide money




Whom do you trust most to financially prepare you for retirement?
Congress and/or the president
Your employer
A financial adviser with a brokerage firm or bank
A spouse
A family member or close friend
Jane M. Von Bergen
When Kurtis Deal, then a janitor at Forman Mills, realized that his trainee "Brad Bandini" was actually the chief executive of his company, his heart rose into his throat. Because, in between cleaning bathrooms and sweeping floors, Deal let Bandini know what he really thought about working at the discount retailer and it wasn't pretty. "Running through my mind was, `What did I say to this guy?' Deal said.
One of the most fascinating aspects of a food business such as Rita's Franchising Co. is the perspective it provides on global tastes, Jeffrey A. Moody, chief executive of Rita's, told me in our Leadership Agenda interview published in Sunday's Philadelphia Inquirer. Start with Rita's starting concept -- water ice.
Investment manager Franklin Square Capital Partners has applied for a $7.5 million grant to build a hotel at Philadelphia's Navy Yard business campus, according to a state report.
Alan J. Heavens 05/24/2015
I used to think that the tiny-house movement had something to do with building smaller homes that more people could afford.

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