Retirement insights from a Colorado PERA perspective

A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.

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



<a href="https://www.bizjournals.com/denver/news/2018/01/16/colorado-moves-up-on-best-states-to-retire-list.html" target="_blank" rel="noreferrer noopener">Colorado moves up on ‘best states to retire’ list</a>&nbsp;|&nbsp;<a href="https://www.bizjournals.com/denver/" target="_blank" rel="noreferrer noopener">Denver Business Journal</a>



In the past year, Colorado has moved up a few notches on an annual list of “best states to retire.” According to WalletHub, Colorado now ranks as the second-best state in the country to retire, behind only Florida. A year go, Colorado was ranked fifth. The criteria included affordability, quality of life, and health care.



<a href="https://www.plansponsor.com/close-retirement-still-feeling-unprepared/" target="_blank" rel="noreferrer noopener">Those close to and in retirement still feeling unprepared</a>&nbsp;|&nbsp;<a href="http://www.plansponsor.com" target="_blank" rel="noreferrer noopener">PlanSponsor</a>



The ninth biennial <a href="https://www.soa.org/research-reports/2018/retirement-risk-survey/">Risks and Process of Retirement Survey</a> from the Society of Actuaries (SOA) identified an overall increase in consumer concern for their finances both prior to and during retirement in 2017. A significant number of retirees and pre-retirees report that they feel unprepared to navigate financial shocks and unexpected expenses – 61 percent of pre-retirees and 47 percent of retirees feel unprepared for expenses in retirement that could deplete their assets.



<a href="https://www.fool.com/retirement/2018/01/13/what-raising-social-securitys-retirement-age-reall.aspx">What raising Social Security’s retirement age really means</a>&nbsp;|&nbsp;<a href="http://www.fool.com" target="_blank" rel="noreferrer noopener">The Motley Fool</a>



Social Security faces a long-term financial crisis. The demographic bump of baby boomers will continue to flow into the Social Security system for many years to come, and the outflow of Social Security benefits will not only use up all available payroll tax revenue but also eat into Social Security trust fund reserves, with projections suggesting a shortfall that leaves roughly a quarter of scheduled benefits unfunded. Many lawmakers see raising the full retirement age for Social Security benefits as a potential solution to the program’s financial woes. Yet, when lawmakers advocate for higher retirement ages without making similar changes to the age for collecting early benefits, the net impact is simply to cut monthly benefits to retirees.



<a href="http://squaredawayblog.bc.edu/squared-away/half-of-boomers-social-security-eligible/" target="_blank" rel="noreferrer noopener">Half of boomers Social Security eligible</a>&nbsp;|&nbsp;<a href="http://squaredawayblog.bc.edu/" target="_blank" rel="noreferrer noopener">Squared Away Blog</a>



About half of baby boomers are now over age 62 and can claim their Social Security benefits. The year 1955 was the midpoint for the post-World War II population explosion – and those boomers born in 1955 will turn 63 sometime this year.



<a href="https://www.courier-journal.com/story/news/politics/2018/01/17/kentucky-budget-missing-pension-reform-matt-bevin/1028338001/" target="_blank" rel="noreferrer noopener">Kentucky’s budget puzzle is missing a huge piece: pension reform</a>&nbsp;|&nbsp;<a href="http://www.courier-journal.com" target="_blank" rel="noreferrer noopener">Louisville Courier-Journal</a>



A major missing piece in Kentucky’s lean 2018-20 state budget proposed by its governor, Matt Bevin, is the impact of a pension reform bill that legislative leaders are secretly writing. While the reform plan is being finalized, the governor and Republican leaders in the Kentucky legislature have endorsed a new approach to funding pensions that would require $392 million more in annual funding for the Teachers’ Retirement System.



<a href="https://khn.org/news/for-elder-health-trips-to-the-er-are-often-a-tipping-point" target="_blank" rel="noreferrer noopener">For elder health, trips to the ER are often a tipping point</a>&nbsp;|&nbsp;<a href="http://www.khn.org" target="_blank" rel="noreferrer noopener">Kaiser Health News</a>



An older person’s trip to the ER often signals a serious health challenge and should serve as a wake-up call for caregivers and relatives. Illnesses or injuries that lead to ER visits can initiate a fairly vulnerable period of time for older persons, and risks increase for seniors to acquire a disability within six months of an ER visit.

Retirement Roundup: Colorado a top retirement state

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



<a href="https://www.washingtonpost.com/business/economy/i-hope-i-can-quit-working-in-a-few-years-a-preview-of-the-us-without-pensions/2017/12/22/5cc9fdf6-cf09-11e7-81bc-c55a220c8cbe_story.html?utm_term=.efe0ead066c9" target="_blank" rel="noreferrer noopener" class="broken_link">A preview of the U.S. without pensions</a> |&nbsp;<a href="https://www.washingtonpost.com" target="_blank" rel="noreferrer noopener" class="broken_link">The Washington Post</a>The way major U.S. companies provide for retiring workers has been shifting for about three decades, with more dropping traditional pensions every year. The first full generation of workers to retire since this turn offers a sobering preview of a labor force more and more dependent on their own savings for retirement.



<a href="https://www.msn.com/en-us/money/retirement/a-secure-retirement-may-be-in-jeopardy-for-millions-of-americans/ar-BBHuFRW" target="_blank" rel="noreferrer noopener">A secure retirement may be in jeopardy for millions of Americans</a> |<a href="https://www.msn.com/en-us/money/" target="_blank" rel="noreferrer noopener">MSN Money</a>In <a href="https://www.copera.org/retirement-roundup-a-future-without-pensions" target="_blank" rel="noreferrer noopener" class="broken_link">an opinion piece</a> from Dec. 10 on retirement issues, Andrew Biggs, a resident scholar at the American Enterprise Institute, criticized two reports from the U.S. Government Accountability Office (GAO) and argued that there is no impending retirement crisis. The GAO authors stand by their findings in the two reports &#8211; one issued in 2015 on the potential retirement security of near retirees and the other issued in 2017 on the status of the nation&#8217;s retirement system.



<a href="http://www.napa-net.org/news/managing-a-practice/industry-trends-and-research/projected-retirement-health-expenses-rise/" target="_blank" rel="noreferrer noopener">Projected Retirement Health Expenses Rise – Again</a> |<a href="http://www.napa-net.org/" target="_blank" rel="noreferrer noopener">National Association of Plan Advisors</a>A year ago, the nonpartisan Employee Benefit Research Institute (<a href="https://www.ebri.org/" target="_blank" rel="noreferrer noopener">EBRI</a>) estimated that individuals might need as much as $350,000 to cover health expenses in retirement. Readers might want to sit down for the update. The headline in a new report from EBRI says that when it comes to health expenses in retirement, “Some Couples Could Need as Much as $370,000, Up from $350,000 in 2016.” But the real answer depends on some key assumptions and variables, not the least of which is how sure retirees want to be of covering those expenses.



<a href="http://squaredawayblog.bc.edu/squared-away/new-yorker-cartoon-considers-401ks/" target="_blank" rel="noreferrer noopener">New Yorker Cartoon Considers 401(k)s</a> |<a href="http://squaredawayblog.bc.edu" target="_blank" rel="noreferrer noopener">Squared Away Blog</a> A New Yorker cartoon by Trevor Spaulding is cute, but – spoiler alert – it’s not quite right. A company offering a 401(k) retirement savings plan to its workers is a good thing, but it’s no “favor,” according to Steve Sass, an economist with a hawk eye for inaccurate retirement information. Setting up and funding a 401(k) is a big expense for employers. But many think it is worthwhile, because 401(k)s – and, more so, employers’ matching contributions – help them attract and retain the sharpest, most productive, or most-skilled workers.



<a href="https://www.marketwatch.com/story/four-ways-to-change-401k-plans-for-the-better-2017-10-25" target="_blank" rel="noreferrer noopener">Four ways to change 401(k) plans for the better</a> |<a href="https://www.marketwatch.com" target="_blank" rel="noreferrer noopener">MarketWatch</a>Over the past few months, 401(k) plans have been in the news a lot. At one point, Republicans floated the idea of drastically lowering the maximum that employees could contribute. And this week, President Trump asked once again how everyone’s 401(k) plans are doing as a result of the rising stock market. But what these plans need even more than a bull market is a way to get more people to participate in them, some experts suggest. Yes – 401(k) account balances and stock market performance are tied to one another, but not everyone has access to these defined contribution plans, and few who do invest in them.



<a href="https://www.courier-journal.com/story/news/politics/2018/01/05/kentucky-pension-bill-not-yet-filed-hints/1006695001/" target="_blank" rel="noreferrer noopener">A Kentucky pension bill has yet to be filed, but there are a few hints on its contents</a>&nbsp;|&nbsp;<a href="https://www.courier-journal.com" target="_blank" rel="noreferrer noopener">Louisville Courier-Journal</a> A month ago as it became apparent that Gov. Matt Bevin’s plan to pass pension reforms at a special session in 2017 would not be possible, legislative leaders aimed to pass a pension bill during the first two weeks of this year&#8217;s regular session. But with the first week of the session now over and no pension bill filed, it’s apparent that will not happen.

Retirement Roundup: a future without pensions

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



<a href="https://www.plansponsor.com/public-pensions-able-pay-promised-benefits/" target="_blank" rel="noreferrer noopener">Public Pensions Have Been Able to Pay Promised Benefits</a> |&nbsp;<a href="https://www.plansponsor.com" target="_blank" rel="noreferrer noopener">PLANSPONSOR</a>Some policymakers want to close participation in a public pension plan to all new hires, cut benefits and increase employee contributions, or convert defined benefit (DB) plan pensions into defined contribution (DC) plans. They usually cite the underfunding of public pension plans as the reason for these ideas. New research shows that funding status has little correlation with a pension fund’s ability to pay its promised benefits. Michael Kahn, director of research for the National Conference on Public Employee Retirement Systems (NCPERS) used data from the annual survey of public pensions by the U.S. Census Bureau for 1993 to 2016 and other data and found that during the last quarter century or so, state and local pension plans have always been able to meet their benefit and other payment obligations.



<a href="http://squaredawayblog.bc.edu/squared-away/retirees-say-ugh-to-medicare-shopping/">Retirees say ‘Ugh’ to Medicare Shopping</a> |<a href="http://squaredawayblog.bc.edu/">Squared Away Blog</a>In terms of popularity, reviewing Medicare plans during the open enrollment period ranks right up there with doing taxes. Retirees on Medicare view healthcare as their most burdensome expense. But they are less likely to comparison shop for Medicare plans than for their groceries and gas, even though plan shopping would probably save more money.



<a href="https://content.copera.org/retirement-roundup-pensions-are-keeping-promises/" target="_blank" rel="noreferrer noopener">Funds fighting effort to add UBIT measure</a> |<a href="https://www.copera.org/federal-legislation-hurt-institutional-investors-main-street-retirees" target="_blank" rel="noreferrer noopener" class="broken_link">Pensions &amp; Investments</a>As Congressional Republicans rush to pass tax reform before 2018, public pension plan officials are determined to see one new idea not make it to the finish line: the House plan for a new tax on unrelated business income from direct investments, such as real estate and private equity. The Internal Revenue Service already applies the unrelated business income tax, known as UBIT, to state colleges and universities. But its longstanding silence on application of that tax to other state entities has led public pension plans to believe it does not apply to them, particularly since their gross income already is excluded under another part of the IRS code. Under the House bill, being exempt under one section of tax code would not spare entities from UBIT on income from direct investments. With no grandfathering period, public pension funds would be facing a whole new world in January if the measure is passed.



<a href="https://www.cnbc.com/2017/11/24/health-care-costs-in-retirement-can-top-275000.html" target="_blank" rel="noreferrer noopener">The $275K retirement expense you can&#8217;t afford to ignore</a> |<a href="https://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a> Before you retire, give your health-care financial plan a checkup. A healthy 65-year-old couple retiring this year can expect to spend $275,000 to cover health-care costs in retirement, according to Fidelity. Those calculations include premiums, cost-sharing provisions and out-of-pocket costs associated with Medicare parts A, B and D — but don&#8217;t include other health expenses, such as over-the-counter medications, dental services, and long-term care.



<a href="https://www.ai-cio.com/news/survey-shows-geopolitical-risk-tops-pension-asset-managers-concerns/" target="_blank" rel="noreferrer noopener">Survey Shows Geopolitical Risk Tops Pension, Asset Managers’ Concerns</a> |<a href="https://www.ai-cio.com/" target="_blank" rel="noreferrer noopener">Chief Investment Officer</a>Institutional investors see geopolitical stability as the biggest short- to medium-term risk to the global economy, more than inflation, growth rates, and central bank policy combined, according to a report from asset manager PineBridge Investments. In a survey of pensions, consultants, and asset management professionals, PineBridge found that 55 percent of pension professionals, and 54 percent of asset managers, saw geopolitical risk as the biggest threat to the economy. “The results surprised me, as I believe geopolitical risk is currently quite low by recent standards,” said Steve Cook, co-head of emerging markets fixed income at PineBridge Investments, in a <a href="https://www.pinebridge.com/press-releases/pinebridge-investments-survey-shows-geopolitical-risk-tops-pension-professionals-concerns" target="_blank" rel="noreferrer noopener">release</a>. “Presumably, respondents are nervous with regard to Korea, Iran, and other potential flashpoints.”



<a href="https://www.nytimes.com/2017/11/24/your-money/some-women-attain-an-enviable-status-401-k-millionaire.html" target="_blank" rel="noreferrer noopener">Some Women Attain an Enviable Status: 401(k) Millionaire</a>&nbsp;|&nbsp;<a href="https://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times</a> Accumulating $1 million in retirement savings is symbolic, even if it means different things to different people. It represents an aspirational amount of wealth to some, financial security to others or a milestone on the way to greater savings still. Of course, in a nation where 44 percent of the population does not have $400 saved for an emergency expense, reaching $1 million may seem unimaginable. For a small but growing number of working women, however, it has become a reality.

Retirement Roundup: Pensions are keeping promises

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



<a href="https://www.yahoo.com/news/apos-long-1-million-retirement-195553143.html" target="_blank" rel="noreferrer noopener">Here&#8217;s how long $1 million in retirement savings will last in your state</a> | <a href="http://www.yahoo.com" target="_blank" rel="noreferrer noopener">Yahoo</a>



Would $1 million really last you through your entire retirement? That all depends on where you choose to live out your golden years according to <a href="https://www.gobankingrates.com/retirement/how-long-million-last-retirement-state/?ncid=edlinkushpmg00000313">a new study</a>. Find out how Colorado stacks up against the other states.



<a href="https://www.bloomberg.com/news/articles/2017-08-24/health-care-costs-could-eat-up-retirement-funds-forecast-shows" target="_blank" rel="noreferrer noopener" class="broken_link">Health care costs could eat up your retirement savings |</a> <a href="https://www.bloomberg.com/news/articles/2017-08-24/health-care-costs-could-eat-up-retirement-funds-forecast-shows" target="_blank" rel="noreferrer noopener" class="broken_link">Bloomberg</a>



According to experts at <a href="https://www.fidelity.com/" target="_blank" rel="noreferrer noopener">Fidelity</a>, health care costs are going to eat up a substantial amount of your retirement savings. And if you think waiting until age 65 when you reach Medicare eligibility is going to save you—think again.



<a href="https://www.copera.org/retirement-roundup-older-workers-new-problems" target="_blank" rel="noreferrer noopener" class="broken_link">OMB approves delay of fiduciary rule to mid-2019 |</a> <a href="https://content.copera.org/retirement-roundup-dont-count-on-social-security/" target="_blank" rel="noreferrer noopener">Pensions &amp; Investments</a>



Federal officials seeking to delay the implementation of a rule designed to compel financial advisors to act in the best interest of their clients were successful in delaying its implementation. Although the decision by the White House’s <a href="https://www.whitehouse.gov/omb" target="_blank" rel="noreferrer noopener">Office of Management and Budget</a> won’t prevent the rule from being implemented eventually, this is a major defeat for proponents. [<a href="https://www.copera.org/retirement-roundup-long-1-million-last" target="_blank" rel="noreferrer noopener" class="broken_link">Read more</a> about the federal rule as it was first introduced in April 2016.]



<a href="https://www.consumerreports.org/retirement-planning/why-saving-for-retirement-is-getting-harder-and-what-you-can-do-about-it/" target="_blank" rel="noreferrer noopener">Why saving for retirement is getting harder, and what you can do about it |</a> <a href="https://www.consumerreports.org" target="_blank" rel="noreferrer noopener">Consumer Reports</a>



It’s <a href="http://www.nirsonline.org/index.php?option=com_content&amp;task=view&amp;id=882&amp;Itemid=48">no secret</a> 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.



<a href="http://squaredawayblog.bc.edu/squared-away/401k-saving-harder-at-lower-incomes/" target="_blank" rel="noreferrer noopener">401(k) saving harder at lower incomes |</a> <a href="http://squaredawayblog.bc.edu" target="_blank" rel="noreferrer noopener">Squared Away Blog</a>



Saving for retirement is no picnic even for upper-middle-income earners who have access to workplace retirement savings plans. A new study sheds light on just how difficult it is for those in the lower- and middle-income brackets to save through 401(k) plans. The study from researchers at the <a href="https://www.stevens.edu/" target="_blank" rel="noreferrer noopener">Stevens Institute of Technology</a> and the <a href="https://www.newschool.edu/nssr/" target="_blank" rel="noreferrer noopener">New School for Social Research</a> sheds some light on how things like temporary unemployment, poor health, and divorce—all circumstances that hit lower-income earners the hardest—affect retirement plans.



<a href="http://time.com/money/4909241/wall-street-financial-firms-protect-seniors/" target="_blank" rel="noreferrer noopener">Wall Street is failing to protect seniors from fraud, say regulators</a> | <a href="http://time.com/money/" target="_blank" rel="noreferrer noopener">Time-Money</a>



An international group of investment regulators say the industry isn’t doing enough to keep elderly investors from falling victim to scams. According to a new survey from the <a href="http://www.nasaa.org/" target="_blank" rel="noreferrer noopener">North American Securities Administrators Association</a>, 75 percent of those who responded said financial firms could be doing more to protect older clients. And a near-unanimous sentiment among those surveyed was that when fraud does take place, it goes on for far too long. Colorado is one of only 13 states that have enacted laws designed to encourage financial advisors to report fraud when they see it happening.

Retirement Roundup: How Long Will $1 Million Last You?

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



<a href="http://www.latimes.com/opinion/op-ed/la-oe-nari-rhee-teacher-pensions-20170718-story.html" target="_blank" rel="noreferrer noopener">If someone tells you your kid’s teacher would be better off with a 401(k) than a pension, don’t believe it</a>&nbsp;|&nbsp;<a href="http://www.latimes.com" target="_blank" rel="noreferrer noopener">Los Angeles Times</a>



Teachers across the country are facing aggressive political attacks on their pensions. Most classrooms in California are occupied by long-term teachers who count on traditional pensions as their main source of financial security retirement. And California is fairly typical in terms of average teacher experience. Research shows that by the time most active teachers leave service – in their early 50s or later – they will be far better off with their pensions than they would have been with a 401(k).



<a href="http://time.com/money/4860595/how-to-retire-wealthy/" target="_blank" rel="noreferrer noopener">You’re more likely to retire wealthy if you do this one thing</a>&nbsp;|&nbsp;<a href="http://www.time.com/money" target="_blank" rel="noreferrer noopener">Time-Money</a>



Wouldn’t it be great if there was one simple thing you could do to help you better prepare for retirement and make you feel more confident about your prospects for financial security at the same time? Well, there is: Put your retirement plan in writing.



<a href="http://www.plansponsor.com/Social-Security-Faring-No-Better-in-2017/" target="_blank" rel="noreferrer noopener">Social Security faring no better in 2017</a>&nbsp;|&nbsp;<a href="http://www.plansponsor.com" target="_blank" rel="noreferrer noopener">PlanSponsor</a>



Social Security funds are projected to become depleted by 2034, the <a href="http://www.plansponsor.com/Social-Security-Trust-Fund-Still-Projected-to-Last-Through-2034/" target="_blank" rel="noreferrer noopener">same projection as last year</a>, according to an <a href="https://www.ssa.gov/oact/tr/2017/index.html" target="_blank" rel="noreferrer noopener">announcement</a> from the Social Security Board of Trustees. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance Trust Funds are projected to have 77 percent of benefits payable at that time. The Disability Industry Trust Fund is projected to become depleted in 2028, extended by five years from last year’s estimate of 2023, with 93 percent of benefits payable.



<a href="http://www.cnbc.com/2017/07/18/the-us-is-losing-ground-to-other-nations-on-retirement-security.html" target="_blank" rel="noreferrer noopener">The U.S. is losing ground when it comes to retirement security</a>&nbsp;|&nbsp;<a href="http://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a>



Among the leading nations for retirement security, the United States didn’t even crack the top 15, according to the <a href="https://www.copera.org/retirement-roundup-would-401k-better-deal" target="_blank" rel="noreferrer noopener" class="broken_link">2017 Global Retirement Index</a> by Natixis Global Asset Management. Europe continued to dominate the top spots.



<a href="https://www.nytimes.com/2017/07/21/your-money/retirement-planning-advice.html" target="_blank" rel="noreferrer noopener">3 things I should have said about retirement planning</a>&nbsp;|&nbsp;<a href="http://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times</a>



Looking back on a career giving advice about saving for retirement, more empathy and more real-world perspective could go a long way. The advice itself – to start young, save aggressively and diversify – might not change, except for one thing: no matter how much money you think you are going to need, save another 15 percent, just in case.



<a href="http://squaredawayblog.bc.edu/squared-away/mid-sized-employer-meets-big-401k-goal/" target="_blank" rel="noreferrer noopener">Mid-sized employer meets big 401(k) goal</a>&nbsp;|&nbsp;<a href="http://squaredawayblog.bc.edu/" target="_blank" rel="noreferrer noopener">Squared Away Blog</a>



Peggy Zembower, the human resources director at an auto dealership, was dismayed when she saw that long-time employees had never increased their retirement saving above the measly 1 percent of pay they’d started at. So she implemented recommendations like automatic enrollment in the plan and auto-escalation of the amount saved over time. Her work has paid off and Thomas Automotive, a mid-sized company with 280 full- and part-time workers, has increased participation in its 401(k) retirement savings plan from 53 percent to 87 percent of employees.

Retirement Roundup: Would a 401(k) Be a Better Deal For Teachers?

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



<a href="https://www.fool.com/retirement/2017/06/22/5-signs-youre-not-ready-to-retire-even-if-you-thin.aspx" target="_blank" rel="noreferrer noopener">5 signs you’re not ready to retire (even if you think you are)</a>&nbsp;|&nbsp;<a href="http://www.fool.com" target="_blank" rel="noreferrer noopener">The Motley Fool </a>Retiring early can have major consequences, and most people underestimate how much they’ll actually need to live comfortably. According to the latest <a href="https://www.copera.org/retirement-roundup-ready-to-retire" target="_blank" rel="noreferrer noopener" class="broken_link">Retirement Confidence Survey</a> by the <a href="http://www.ebri.org" target="_blank" rel="noreferrer noopener">Employee Benefit Research Institute</a>, 63 percent of workers are at least somewhat confident that they have enough money to last through retirement, yet the average 401(k) account balance as of 2016 is just $96,000, or enough to provide $3,200 in annual income over a 30-year retirement. Before getting too excited about the prospect of early retirement, consider five different situations that could indicate it’s not worth the risk to retire now.



<a href="https://www.nytimes.com/2017/06/23/business/would-you-trust-tom-selleck-with-your-life-savings.html" target="_blank" rel="noreferrer noopener">Would you trust Tom Selleck with your life savings?</a>&nbsp;|&nbsp;<a href="http://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times </a>Choosing the perfect celebrity spokesman or spokeswoman for cars, coffee machines, soft drinks or cellphone service providers is a tricky business. But it can’t compete with the challenge of coming up with the right big name to pitch products at retirees. After all, when the discussion is life insurance, reverse mortgages or pharmaceuticals, the stakes are higher. Older Americans respond to boldface names who look like them, with gray or graying hair, and a few wrinkles, or more.



<a href="http://www.plansponsor.com/Pension-Cuts-Have-Public-Employees-Worried/" target="_blank" rel="noreferrer noopener">Pension cuts have public employees worried</a>&nbsp;| <a href="http://www.plansponsor.com" target="_blank" rel="noreferrer noopener">PlanSponsor </a>While it might be assumed that public employees, such as teachers, police and firefighters, are well covered by their pensions, they worry about life in retirement, according to a survey by <a href="https://content.copera.org/retirement-roundup-ready-to-retire/" target="_blank" rel="noreferrer noopener">Prudential Retirement</a>. Only 17 percent are very confident that they will have enough money to last them in the future.



Furthermore, according to the report, “<a href="https://www.copera.org/retirement-roundup-ready-to-retire" target="_blank" rel="noreferrer noopener" class="broken_link">Getting Back on Track: Financial Wellness in the Public Sector</a>,” more than one in four said that receiving a pension plan was a significant factor that influenced their decision to pursue a career in the public sector, and nearly half say that if their pension were at risk, they might reconsider remaining in their careers.



<a href="http://squaredawayblog.bc.edu/squared-away/pre-retirement-financial-review-is-a-must/" target="_blank" rel="noreferrer noopener">Pre-retirement financial review is a must</a>&nbsp;|&nbsp;<a href="http://squaredawayblog.bc.edu/" target="_blank" rel="noreferrer noopener">Squared Away Blog </a>One out of three boomers in a recent <a href="https://www.transamericacenter.org/retirement-research/17th-annual-retirement-survey/retirement-survey-of-workers-full-survey-results" target="_blank" rel="noreferrer noopener">Transamerica</a> survey said they are not confident they will have enough income to retire “comfortably” and another third concede that they are only “somewhat confident.” The most important thing for baby boomers who are not wealthy is knowing how much income will come in the door every singly month to pay the bills in retirement. This is a question that a financial adviser could help to answer.



<a href="https://www.fool.com/retirement/2017/06/19/does-the-average-american-have-a-401k.aspx" target="_blank" rel="noreferrer noopener">Does the average American have a 401(k)?</a>&nbsp;|&nbsp;<a href="http://www.fool.com" target="_blank" rel="noreferrer noopener">The Motley Fool </a>There’s a reason 401(k) plans are a popular choice for those looking to set aside money for the future. Not only are contributions traditionally tax-free, but because they’re deducted directly from earnings, the process of funding a 401(k) is as seamless as can be. So it may be surprising to learn that the average American does not, in fact, have a 401(k) – especially given the number of employees who have the option to participate in one.



<a href="http://www.nextavenue.org/retirement-planning-anxiety-zen/" target="_blank" rel="noreferrer noopener">Retirement planning: going from anxiety to Zen</a>&nbsp;|&nbsp;<a href="http://www.nextavenue.org" target="_blank" rel="noreferrer noopener">NextAvenue </a>Louise Nayer has been retired six years and is feeling pretty Zen about it. But as she writes in Poised for Retirement, Moving From Anxiety to Zen, that&#8217;s far different from the way she felt just before she quit work at 62, a few years after her husband did. Exhausted from work, she knew she was emotionally ready. But from a financial, professional and social standpoint, she had work to do. Part memoir and part self-help manual, she recounts her journey.

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