A digest of timely information and insight about finance, investing, and retirement.

“I’m going to work until I die:” The new reality of old age in America | Washington Post
People are living longer, more expensive lives, often without much of a safety net. As a result, record numbers of Americans older than 65 are working — now nearly 1 in 5. That proportion has risen steadily over the past decade, and at a far faster rate than any other age group. Today, 9 million senior citizens work, compared with 4 million in 2000.

Having Children Can Ruin Your Retirement | Bloomberg
Parenthood has plenty of non-monetary perks, but the financial effects can last the rest of your life. It may seem obvious that kids make it harder to save. In practice, however, parents can compensate for the extra costs of parenting by spending less on themselves. Parents are often forced to budget carefully—a skill that will pay off long after their children are grown. Some people may even decide to take their careers more seriously after having kids, and studies show that some fathers end up earning more than if they’d remained childless.

Colorado spends the most on out-of-pocket health care but that could be a good sign | Denver Post
Colorado spends the most on out-of-pocket health care costs, according to a JPMorgan Chase Institute healthcare spending study. But that’s not necessarily a bad sign. The study, examining anonymous data from 2.3 million Chase customers across 23 states from 2013-16, found that families increased their health care spending when they came into more income or assets.

Why The Tax Reform Crew May Target Your Retirement | Forbes
It’s no secret that the trend to 401(k) plans from traditional pensions has put more pressure on individuals to save enough for retirement. Combine that with recent moves by the federal government to roll back rules that might have made saving easier, and the retirement landscape has never been more treacherous. Fortunately, there are still some common-sense steps you can take to make your financial future more secure.

Who’s Left Out of 401(k) Nation | Bloomberg
Only 45 percent of U.S. workers participate in an employer-sponsored retirement plan, according to the Pew Charitable Trusts. Many don’t even have the option—one-third of U.S. workers aren’t offered a pension or 401(k)-style plan by their employers.

Proposed 401(k)s cost more than Kentucky’s existing defined benefit pension plans | Northern Kentucky Tribune
Kentucky needs ideas that work to reduce its unfunded pension liabilities. Moving employees into 401(k)-type defined contribution plans is actually more expensive, increases the cost of paying off existing liabilities, and harms retirees, while making it much more difficult to attract and retain a skilled workforce.