Check out this great series on retirement savings and the boomers…we’re in trouble.
Today’ Minneapolis Star Tribune has a great series of articles on the boomers’ retirement planning strategies–or lack thereof. They include:
Amid woeful tales, a story of retirement-plan success
In the glass-half-full spirit, the news is not all bad on retirement these days.… H.J. Cummins
Cash-balance plans change rules of game
Call them “pensions lite.”One of the biggest jolts in all thepension turbulence has been cash-balance plans, the latest bigiteration of retirement benefits for working Americans.… H.J. Cummins
Broad legal definition enables professionals to boost pensions
Even as pensions fade away for most workers, some of the country’shighest-paid professionals have found a way to significantly boost themoney they put into their pensions, some socking away as much as$100,000 a year.… H.J. Cummins
On 401(k)s, many dropping the ball
Sonja Gauthier had hoped to save about a half-million dollars in her401(k) account before she retired. After 10 years and plenty of goodintentions, she has only $32,000 tucked away.… H.J. Cummins
3 generations of retirement plans
One American family traces the course of retirement income from big,safe-bet pensions to a 401(k), to a third generation that expectsnothing from anyone. They are the Williams family — grandpa Bruce, sonBrian and grandson Erik.… H.J. Cummins
Traditional…
How poorly Americans save for retirement
Six in 10 U.S. workers say they are saving in some way forretirement. But half say their family assets, not counting their homes,add up to less than $25,000.…
Retired mechanic Randy Daly had two thoughts when Northwest Airlinesdeclared bankruptcy: “I’m going to lose medical benefits for me and mywife,” he said. And, “If my pension gets turned over to the government,I’m going to lose some more money.”Both are strong possibilities forthe Apple Valley resident, who’s 61, and together they would cost himabout $1,300 of the $2,860 monthly benefit he just started collectingin April.… H.J. Cummins