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="http://time.com/money/5468239/jack-bogle-index-funds-problem/" target="_blank" rel="noopener noreferrer">Investing legend says there’s a big problem with index funds</a> | <a href="http://time.com" target="_blank" rel="noopener noreferrer">Time</a> 
A generation ago, Jack Bogle invented the index fund. Now he’s warning his creation may have a negative impact on the stock market. Bogle, who founded The Vanguard Group in 1974, <a href="https://www.wsj.com/articles/bogle-sounds-a-warning-on-index-funds-1543504551">wrote recently in The Wall Street Journal</a> that if current trends continue, index funds will soon own half of all U.S. stocks. He thinks that could lead to a dangerous vacuum in corporate governance – with nobody to effectively police the corporate executives who run America’s largest companies. “Public policy cannot ignore this growing dominance, and consider its impact on the financial markets, corporate governance, and regulation,” he wrote. “These will be major issues in the coming era.”
<a href="https://www.plansponsor.com/many-retirees-outspend-planned-budget/" target="_blank" rel="noopener noreferrer">Many retirees outspend planned budget</a> | <a href="https://www.plansponsor.com/" target="_blank" rel="noopener noreferrer">PlanSponsor</a> 
Thirty-nine percent of retirees are spending more than they had expected, according to the “<a href="https://www.copera.org/retirement-roundup-this-investing-expert-says-theres-a-big-problem-with-index-funds" target="_blank" rel="noopener noreferrer" class="broken_link">Global Atlantic Retirement Spending Study: Perception vs. Reality</a>.” Forty-nine percent of pre-retirees believe planning for retirement is more difficult for them than it was for their parents. The typical non-retired U.S. consumer older than 40 spends an average of $2,993 a month, and retirees spend 32 percent less ($2,008), according to Global Atlantic Financial Group. The areas where retirees are spending less are entertainment (29 percent less), dining out (24 percent less), traveling (18 percent less) and on housing (23 percent less on mortgage payments and 22 percent less on rent).
<a href="https://www.fool.com/investing/2018/12/01/dont-retire-early-unless-you-answer-yes-to-these-4.aspx" target="_blank" rel="noopener noreferrer">Don’t retire early unless you can answer “yes” to these 4 questions</a> | <a href="https://www.fool.com/" target="_blank" rel="noopener noreferrer">Motley Fool</a> 
Retiring early is a dream for many, but jumping the gun by retiring too early can leave you pinching pennies at the end of your life when your savings run dry. Before you decide to retire, it’s important to make sure all of your finances are in order to avoid this grim picture. The four questions you should be able to answer “yes” to if you’re truly ready for a premature retirement relate to your debt, savings, health care plan, and retirement account withdrawals.
<a href="https://www.denverpost.com/2018/12/01/americans-retirement-age-working/" target="_blank" rel="noopener noreferrer">By choice or necessity, more adults are working past retirement age</a> | <a href="https://www.denverpost.com" target="_blank" rel="noopener noreferrer">Denver Post</a> 
A National Press Foundation seminar in Washington, D.C., earlier this year explored the topic of why Americans are working longer. “The population is getting older, fertility rates are quite low, and people are living longer,” Richard Johnson, director of the program on retirement policy at the <a href="https://www.urban.org/policy-centers/cross-center-initiatives/program-retirement-policy" target="_blank" rel="noopener noreferrer" class="broken_link">Urban Institute</a>, said during the seminar. Johnson provided several reasons for the change in the labor landscape, including tightening of labor markets, pension uncertainty, and the availability of less physically demanding jobs.
<a href="https://www.cnbc.com/2018/11/28/most-struggle-to-save-for-retirement-no-matter-age-gender-or-income.html" target="_blank" rel="noopener noreferrer">Everyone is having some trouble saving for retirement</a> | <a href="https://www.cnbc.com" target="_blank" rel="noopener noreferrer">CNBC</a> 
In a perfect world, saving for retirement would be easy. That world assumes everyone makes an adequate salary, can afford all their necessities and a few frills, and feels comfortable setting aside some money for the future. Yet the reality is that retirement saving is not easy for everyone. Lower income and debt, whether from credit cards or student loans, are two items that can make it difficult to save for the future. When 30 percent of people <a href="https://learn.stashinvest.com/retirement-in-america-2018-survey" target="_blank" rel="noopener noreferrer">surveyed by Stash</a> feel financially squeezed, they start eyeing retirement contributions as a place to cut back. The investing app surveyed more than 2,100 people online in November.
<a href="https://www.forbes.com/sites/rcarson/2018/12/09/are-you-retirement-ready-easy-fixes-for-4-of-the-most-common-retirement-planning-mistakes/#6fb13bc926a2" target="_blank" rel="noopener noreferrer">Are you retirement ready? Easy fixes for 4 common planning mistakes</a> | <a href="https://www.forbes.com" target="_blank" rel="noopener noreferrer">Forbes</a> 
The 2018 <a href="https://www.ebri.org/retirement/retirement-confidence-survey" target="_blank" rel="noopener noreferrer">Retirement Confidence Survey (RCS)</a> conducted by the <a href="http://www.ebri.org" target="_blank" rel="noopener noreferrer">Employee Benefit Research Institute</a> (EBRI) and research firm <a href="https://greenwaldresearch.com/" target="_blank" rel="noopener noreferrer">Greenwald &amp; Associates</a>, found that only 32 percent of retirees are very confident in their ability to live comfortably throughout retirement. But what does that mean for the remaining 68 percent of retirees who are less confident? Equally important, what does it mean for working Americans actively saving for life in retirement?
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Retirement Roundup: This investing expert says there’s a big problem with index funds

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



<a href="https://www.cnbc.com/2018/11/02/if-youre-planning-to-retire-in-2019-heres-how-to-make-sure-youre-prepared.html" target="_blank" rel="noreferrer noopener">If you’re planning to retire in 2019, here’s how to prepare</a> | <a href="https://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a> If you’re among the millions of older U.S. workers who will retire from full-time work in 2019, now’s a good time to make sure you’re truly prepared. Whether you’re viewing the next phase of life as retirement, semi-retirement or an unknown adventure, experts say the transition should get more than just a passing once-over. As you prepare to say farewell to your coworkers next year and embark on the next leg of life’s journey, experts recommend taking time to make sure you’ve covered all your financial bases.



<a href="https://www.forbes.com/sites/johnwasik/2018/11/19/the-two-most-powerful-ways-to-remain-mentally-sharp-in-retirement/#8847d0322261" target="_blank" rel="noreferrer noopener">The two most powerful ways to remain mentally sharp in retirement</a> | <a href="https://www.forbes.com/" target="_blank" rel="noreferrer noopener">Forbes</a> For many, the greatest fear in retirement &#8212; other than not having enough money &#8212; is losing your noodle. The good news, though, is that cognitive decline isn’t inevitable. There are ways, according to recent research, to offset mental incapacity. Getting regular exercise and volunteering are both good starting points for your long-term wellness plan.



<a href="https://www.investopedia.com/advisor-network/articles/how-plan-retirement-solo-ager/" target="_blank" rel="noreferrer noopener">How to plan for retirement as a “solo ager”</a> | <a href="https://www.investopedia.com" target="_blank" rel="noreferrer noopener">Investopedia</a> Baby Boomers who are single and childless, known as “solo agers,” face unique retirement planning challenges that need to be addressed. Americans’ approach to aging has rapidly changed in recent years. This is the result of the aging <a href="https://www.prb.org/aging-unitedstates-fact-sheet/" target="_blank" rel="noreferrer noopener">Baby Boomer population</a>, who are entering their 80s and 90s within the next few decades, and longer <a href="https://www.brookings.edu/blog/future-development/2016/03/23/boundless-life-expectancy-the-future-of-aging-populations/" target="_blank" rel="noreferrer noopener">life expectancies</a>. Medical advances are leading to healthier and more active lifestyles in retirement. There are societal policy implications with these demographic trends, from long-term care to strains on public pensions. And increased divorce rates and lower birth rates are colliding to create financial challenges for a growing number of Americans.



<a href="https://www.plansponsor.com/workers-not-believe-social-security-pensions-will-secure-retirement-income/" target="_blank" rel="noreferrer noopener">Workers skeptical about Social Security, pension income</a> | <a href="https://www.plansponsor.com" target="_blank" rel="noreferrer noopener">PlanSponsor</a> In today’s retirement age, Social Security and pensions are top sources of income for most retirees. However, as fears of <a href="https://www.plansponsor.com/as-pensions-fade-retirees-will-need-more-savings/" target="_blank" rel="noreferrer noopener">dwindled pension funding</a> and <a href="https://www.plansponsor.com/many-millennials-gen-xers-dont-expect-receive-social-security/" target="_blank" rel="noreferrer noopener">reduced Social Security</a> intensify, those approaching retirement are sourcing alternative income options, says a new LIMRA Secure Retirement Institute (LIMRA SRI) <a href="https://www.limra.com/Posts/PR/News_Releases/New_LIMRA_Secure_Retirement_Institute_Research_Shows_Consumers_Buy_Annuities_to_Create_Income_for_Retirement.aspx" target="_blank" rel="noreferrer noopener">report</a>. According to the report, 49 percent of pre-retirees and 32 percent of younger workers say their post-work life income will emerge from employer-sponsored retirement plans, individual retirement accounts (IRAs), and other savings vehicles. Four in 10 pre-retirees and over half (53 percent) of workers ages 40 to 54 believe their primary source of revenue will originate from their 401(k), IRA and <a href="https://content.copera.org/retirement-roundup-if-youre-planning-to-retire-in-2019-heres-how-to-prepare/" target="_blank" rel="noreferrer noopener">additional savings</a>.



<a href="http://time.com/5440542/401k-retirement/" target="_blank" rel="noreferrer noopener">As the 401(k) turns 40, we must change how Americans save for retirement</a> | <a href="http://time.com/" target="_blank" rel="noreferrer noopener">Time</a> In its first four decades, the 401(k) has lived an unexpectedly glamorous life. At the time of its enactment, lawmakers anticipated that it would exist in obscurity, affecting only a small number of corporate executives. Forty years later, <a href="https://www.irs.gov/retirement-plans/401k-plans" target="_blank" rel="noreferrer noopener">401(k)</a> has become possibly the most famous section of the Internal Revenue Code, with well over 90 million Americans personally participating in 401(k)s or similar defined contribution plans. But it’s also facing something of a midlife crisis.

Retirement Roundup: If you’re planning to retire in 2019, here’s how to prepare

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



<a href="https://www.forbes.com/sites/nextavenue/2018/11/05/6-tips-for-a-terrific-retirement/#400076b815e3" target="_blank" rel="noreferrer noopener">6 tips for a terrific retirement</a> | <a href="https://www.forbes.com" target="_blank" rel="noreferrer noopener">Forbes</a> The transition from work to retirement can be a challenge. As much as we complain about work, a full-time job provides us with a routine, a community and a sense of purpose. If you want to enjoy a fulfilling retirement, you need to find a way to replace those benefits. But what’s the best way to do that? How do you decide where to devote your time and energy? A small group of retired United Way executives attending the annual United Way Retirees Association gathering in Connecticut recently offered some great advice about retirement, transitions and lessons learned from their experience.



<a href="https://www.bna.com/insight-verge-next-n57982093339/" target="_blank" rel="noreferrer noopener" class="broken_link">Are we on the verge of the next big pension bill?</a> | <a href="https://www.bna.com" target="_blank" rel="noreferrer noopener" class="broken_link">Bloomberg</a> While the eyes of the nation were focused on the Senate confirmation hearings for Brett Kavanaugh, the House of Representatives quietly passed the Family Savings Act of 2018 on September 27. The act, which is one of three tax bills clearing the House as part of the Republicans’ push for “Tax Reform 2.0,” contains a series of proposals designed to enhance Americans’ retirement security and increase other savings. Some of the proposals contained in the act are new, but many have been taken from previously introduced legislation—most substantially, from the Retirement Enhancement and Savings Act.



<a href="http://time.com/money/5445007/105-year-old-retiree-savings-strategy/" target="_blank" rel="noreferrer noopener">This 105-year-old martini lover has been retired almost 40 years</a> | <a href="http://time.com/" target="_blank" rel="noreferrer noopener">Time</a> Patricia Lyons Harrington recalls applying for a credit card in the 1950s, when she was a single, middle-aged school teacher in Boston. The company turned her down, since gender discrimination was as common in credit transactions as in other aspects of society. More than a decade later, the tide began to turn, and the same company sent her a solicitation. “I said ‘no thank you,’” recalls Harrington, 105. Well past the century mark, Harrington retains the feisty spirit that helped her forge her own career and manage her own money at a time when most of her peers married and stayed home to raise children. Today, the former music teacher lives with her nephew and his wife in a separate apartment in their home in Essex, Mass., where former students still come to visit her.



<a href="https://www.fool.com/retirement/2018/11/05/3-reasons-its-not-always-a-good-idea-to-retire-ear.aspx" target="_blank" rel="noreferrer noopener">3 reasons it’s not always a good idea to retire early—even if you can</a> | <a href="https://www.fool.com/" target="_blank" rel="noreferrer noopener">Motley Fool</a> Who doesn’t dream of retiring early? Rather than working until you can’t work anymore, you can spend your days traveling the world, learning new hobbies, or simply relaxing at home. Early retirement may sound great in theory, but in practice, it may not be the best idea. For one, most people aren’t even on track to retire at a normal retirement age, let alone early. Forty-two percent of Americans have less than $10,000 saved for retirement, according to a <a href="https://www.gobankingrates.com/retirement/planning/why-americans-will-retire-broke/" target="_blank" rel="noreferrer noopener">survey</a> of millennials, Gen Xers, and Baby Boomers from <a href="https://www.gobankingrates.com/" target="_blank" rel="noreferrer noopener">GOBankingRates</a>, and of those people, 14 percent have nothing at all saved. That’s not great news, especially considering the average person spends nearly $46,000 per year during retirement, according to the Bureau of Labor Statistics.



<a href="https://www.plansponsor.com/guaranteed-income-preferred-lump-sums/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=Newsdash" target="_blank" rel="noreferrer noopener">Guaranteed income preferred over lump sums</a> | <a href="https://www.plansponsor.com/" target="_blank" rel="noreferrer noopener">PlanSponsor</a> What would you do? Fifty-three percent of Americans ages 50 to 79 say they would prefer <a href="https://www.plansponsor.com/sponsors-can-offer-guaranteed-lifetime-income/" target="_blank" rel="noreferrer noopener">guaranteed lifetime income</a> of $660 a month over a $120,000 lump sum payment, the <a href="https://www.limra.com/secureretirementinstitute/" target="_blank" rel="noreferrer noopener">LIMRA Secure Retirement Institute</a> (LIMRA SRI) learned in a <a href="https://www.limra.com/Posts/PR/Industry_Trends_Blog/LIMRA_Secure_Retirement_Institute__More_than_Half_of_Consumers_Would_Choose_Guaranteed_Lifetime_Income_over_a_Lump_Sum_Payment.aspx?blog=SRI" target="_blank" rel="noreferrer noopener">survey</a>. When asked why they would take the <a href="https://www.plansponsor.com/companies-form-alliance-lifetime-income/" target="_blank" rel="noreferrer noopener">guaranteed income</a>, 57 percent said they expect to live a long life and 46 percent said it was because it would give them peace of mind.



<a href="https://www.plansponsor.com/u-s-institutional-investors-changing-views-esg-investing/" target="_blank" rel="noreferrer noopener">US institutional investors changing views of ESG investing</a> | <a href="https://www.plansponsor.com" target="_blank" rel="noreferrer noopener">PlanSponsor</a> Institutional investors in the U.S. continue to view the application of environmental, social and governance (ESG) principles in investing more cautiously than other countries, but the percentage that reject ESG outright shrank dramatically year over year, from 51 percent to 34 percent, according to RBC Global Asset Management’s <a href="http://www.rbcgam.com/corporate-governance-and-responsible-investment/esg.html" target="_blank" rel="noreferrer noopener">third annual Responsible Investing Survey</a>. Forty-three percent of institutional investors incorporate environmental, social and governance (ESG) factors into their investing, up from 22 percent in 2013, <a href="https://www.plansponsor.com/institutional-investors-increase-use-esg/" target="_blank" rel="noreferrer noopener">according to a report from Callan</a>.

Retirement Roundup: 6 tips for a terrific retirement

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



<a href="https://www.cnbc.com/2018/05/09/almost-half-of-americans-dont-expect-to-have-enough-money-to-retire-comfortably--but-theres-some-good-news.html" target="_blank" rel="noreferrer noopener">Good news and bad news for people thinking about retirement&nbsp;</a>|&nbsp;<a href="http://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a> Nearly half of Americans anticipate an uncomfortable retirement. Don&#8217;t listen to them. People are pessimistic about their financial future, but when their later decades finally roll around, well, they&#8217;re not so bad, according to new&nbsp;<a href="http://news.gallup.com/poll/233861/update-americans-concerns-retirement-persist.aspx" target="_blank" rel="noreferrer noopener">findings</a>&nbsp;from Gallup. After retirement, the share of people who report being comfortable swells to nearly 80 percent, the survey discovered.



<a href="https://www.cnbc.com/2018/05/02/medicare-costs-could-rise-by-more-than-200-percent-for-these-retirees.html" target="_blank" rel="noreferrer noopener">What retirees need to know about rising Medicare costs</a> |&nbsp;<a href="https://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a> This year, high-income retirees can expect to shell out even more money to cover their Medicare premiums. That&#8217;s because as of 2018, there is a shift in the income brackets that are used to determine how much older Americans will pay for their Medicare Part B (preventive services) and Part D coverage for prescription drugs, according to a&nbsp;<a href="https://www.copera.org/retirement-roundup-good-and-bad-news-for-those-thinking-about-retirement" target="_blank" rel="noreferrer noopener" class="broken_link">recent analysis</a>&nbsp;by HealthView Services, a provider of health-care cost projection software.



<a href="https://www.marketwatch.com/story/one-country-is-missing-from-the-list-of-best-places-to-retire-america-2018-05-04" target="_blank" rel="noreferrer noopener">The best countries to retire in (America’s not on the list)</a> |&nbsp;<a href="http://www.marketwatch.com" target="_blank" rel="noreferrer noopener">MarketWatch</a> You may want to pack your bags because the United States did not make the list of 50 countries where it’s cheapest to retire. India ranked first, as ex-patriots would pay 93 percent less in rent than they would for a New York City apartment and save 70 percent on groceries, according to personal finance site&nbsp;<a href="https://www.gobankingrates.com/investing/here-are-best-countries-to-retire/" target="_blank" rel="noreferrer noopener">GoBankingRates</a>. Also ranked high on the list were Saudi Arabia, Mexico, Czech Republic, Germany, Turkey, and Taiwan. What makes them so great? The low cost of living, the less expensive health care, and the purchasing power Americans would have, to name a few.



<a href="https://www.marketwatch.com/story/the-huge-financial-burden-many-retirees-now-face-2018-05-08" target="_blank" rel="noreferrer noopener">How rising rents are impacting retirees</a> |&nbsp;MarketWatch Boomers and Gen Xers are now the most “rent-burdened” Americans, according to a new Pew Charitable Trusts&nbsp;report, <a href="http://www.pewtrusts.org/en/research-and-analysis/reports/2018/04/american-families-face-a-growing-rent-burden" target="_blank" rel="noreferrer noopener">Americans Face a Growing Rent Burden</a>. And things have only been getting worse for them. Pew defines rent-burdened as spending 30 percent or more of your income on rent; people who spend 50 percent or more on rent are, in Pew’s words, “severely rent burdened.”



<a href="http://time.com/money/5269821/this-map-shows-how-long-1-million-in-retirement-savings-will-last-in-every-state/" target="_blank" rel="noreferrer noopener">This map shows how long $1 million in retirement savings will last in every state</a> | <a href="http://time.com/money/" target="_blank" rel="noreferrer noopener">Time-Money</a> Location, location, location. It’s the battle hymn for buying real estate and a huge factor for retirees looking to make their savings last. All things being equal, $1 million in savings will last nearly twice as long in “low-cost” states such as Arkansas or Kansas than it will in Hawaii, according to an <a href="https://howmuch.net/articles/one-million-retirement-by-state" target="_blank" rel="noreferrer noopener">analysis</a> of state-by-state retirement cost-of-living data by HowMuch.net. What mattered most? Not surprisingly, housing costs and healthcare are the biggest variables to extending retirement savings.



<a href="https://www.nytimes.com/2018/05/11/health/nursing-home-ratings-yelp.html?" target="_blank" rel="noreferrer noopener">No luck finding the right nursing home? Maybe Yelp can help</a> | <a href="http://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times</a> Can you really select a quality nursing home by reading Yelp reviews? Gerontologists at the University of Southern California have been looking into Yelp nursing home reviews and think they make a useful addition to the homework any prospective resident or family member needs to undertake. It’s not that reviews posted to online platforms like Yelp are such reliable guides to nursing home quality, said Anna Rahman, senior author of a recent article in The Gerontologist. It’s that the supposed gold standard, the five-star ratings on the federal government’s own <a href="https://www.medicare.gov/nursinghomecompare/search.html" target="_blank" rel="noreferrer noopener">Nursing Home Compare</a> website, remains so faulty.

Retirement Roundup: Good and bad news for those thinking about retirement

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



<a href="http://time.com/money/4818155/retirement-planning-mistakes-mental-sabotage/" target="_blank" rel="noreferrer noopener">4 ways you might be sabotaging your own retirement plan</a>&nbsp;|&nbsp;<a href="http://www.time.com/money" target="_blank" rel="noreferrer noopener">Time-Money </a>Successfully preparing for retirement is hard enough, given today’s rapidly evolving economy. But several recent retirement surveys suggest that many of us are also making retirement planning more difficult through self-defeating behavior.



<a href="https://www.nytimes.com/2017/06/30/your-money/plan-on-growing-old-then-the-medicaid-debate-affects-you.html" target="_blank" rel="noreferrer noopener">Plan on growing old? Then the Medicaid debate affects you</a>&nbsp;|&nbsp;<a href="http://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times </a>A majority of people who are lucky enough to grow old cannot and do not pay for themselves in old age. One in three people who reach age 65 end up in a nursing home at some point. According to the <a href="http://www.kff.org/infographic/medicaids-role-in-nursing-home-care/" target="_blank" rel="noreferrer noopener">Kaiser Family Foundation</a>, among the people living in a nursing home today, 62 percent cannot pay the bill on their own. And when that happens, <a href="https://www.nytimes.com/2017/06/23/health/medicaid-basic-facts.html" target="_blank" rel="noreferrer noopener">Medicaid</a> pays. The very Medicaid program that stands to have hundreds of billions of dollars less to spend if anything like the health care bills on the table in Washington come to pass.



<a href="http://squaredawayblog.bc.edu/squared-away/iras-fall-short-of-original-goal/" target="_blank" rel="noreferrer noopener">IRAs fall short of original goal</a>&nbsp;|&nbsp;<a href="http://squaredawayblog.bc.edu/" target="_blank" rel="noreferrer noopener">Squared Away Blog </a>Individual Retirement Accounts, or IRAs hold nearly 8 trillion dollars, or nearly half of all the value held in the U.S. retirement systems, which includes pension funds and 401(k)s. IRAs were created to offer individuals without retirement plans at work the opportunity to save for retirement through tax-deferred accounts. But IRAs “have drifted very far from their original intent” of helping those who need them most, research for the Center for Retirement Research conclude in a <a href="http://crr.bc.edu/briefs/who-contributes-to-individual-retirement-accounts/" target="_blank" rel="noreferrer noopener">new study</a>.



<a href="http://www.marketwatch.com/story/this-is-the-most-helpful-thing-you-can-do-for-your-family-before-you-die-2017-06-26" target="_blank" rel="noreferrer noopener">This is the most helpful thing you can do for your family before you die</a>&nbsp;|&nbsp;<a href="http://www.marketwatch.com" target="_blank" rel="noreferrer noopener">Marketwatch </a>One of the most necessary tasks a person can do in his or her life is getting every personal record in a designated place. Bank and credit card account information, social media emails and passwords, doctor and lawyer contact information, former addresses and employment – might seem daunting, but it can help loved ones efficiently manage their duties, reach out to necessary people and save time in the midst of personal turmoil. And it can even make you more financially fit.



<a href="https://www.wsj.com/articles/ill-funded-police-pensions-put-cities-in-a-bind-1499180342" target="_blank" rel="noreferrer noopener">Ill-funded police pensions put cities in a bind</a>&nbsp;|&nbsp;<a href="http://www.wsj.com" target="_blank" rel="noreferrer noopener">The Wall Street Journal </a>Police pensions are among the worst funded in the nation. Retirement systems for police and firefighters have just a median 71 cents for every dollar needed to cover future liabilities, according to a Wall Street Journal analysis of cities of 30,000 or more. The combined shortfall in the plans, which are the responsibility of municipal governments, is more than $80 billion, nearly equal to New York City’s annual budget. And yet any attempt to bring police pensions into line with today’s municipal budgets and stock-market performance runs into the reality that many officers won’t stand for it – and they often have the public behind them.



<a href="http://www.marketwatch.com/story/where-did-baby-boomers-go-wrong-this-generation-isnt-financially-prepared-for-retirement-2017-07-05" target="_blank" rel="noreferrer noopener">Where did baby boomers go wrong?</a>&nbsp;|&nbsp;<a href="http://www.marketwatch.com" target="_blank" rel="noreferrer noopener">Marketwatch </a>Retirement is right around the corner for many baby boomers – if they haven’t already entered it – yet many are unprepared. Those born between 1946 and 1964 expect they’ll need $658,000 in their defined contribution plans by the time they retire, but the average in those employer-sponsored plans is $263,000, according to a <a href="https://www.leggmason.com/content/dam/legg-mason/documents/en/corporate-press-releases/market-perspective/2017/lm-gis-retirement-07-17.pdf" target="_blank" rel="noreferrer noopener">survey</a> of 900 investors by financial services firm <a href="https://www.leggmason.com/en-us/about/newsroom.html" target="_blank" rel="noreferrer noopener">Legg Mason</a>. Older boomers, who are 65 to 74, have an average of $300,000.



Americans across the country, and all age groups, are <a href="http://www.marketwatch.com/story/the-amount-of-americans-not-saving-for-retirement-is-even-worse-than-you-thought-2017-02-21" target="_blank" rel="noreferrer noopener">drastically under-saved for retirement</a>. Only a third of Americans who have access to a 401(k) plan contribute to it, and previous <a href="http://www.marketwatch.com/story/the-typical-american-couple-has-only-5000-saved-for-retirement-2016-04-28" target="_blank" rel="noreferrer noopener">research</a> suggests the typical middle-aged American couple only has $5,000 saved for the future. There are a multitude of reasons people may not have enough for retirement. Still, not saving enough was the biggest regret among older Americans, according to a <a href="http://www.bankrate.com/finance/consumer-index/financial-security-charts-0516.aspx" target="_blank" rel="noreferrer noopener">survey</a> of 1,000 participants by personal finance site Bankrate.com.

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