Your Retirement | WYPR

Your Retirement

Thursdays at 3:04 P.M.

From WYPR 88.1 FM.  Anirban Basu reviews retirement news.

So now we are into 2018, which means that we are in the midst of another year during which people will be both fretting about and preparing for retirement.  As indicated by U.S. News, there are some reasons to believe that your retirement will be meaningfully better than the one your grandparents lived. At the heart of this optimism are technological advances...

Let’s say that you work for a company offering automatic enrollment in their retirement plan. That’s a good thing. In such instances, the employer will typically enroll an employee in the plan once he or she meets eligibility requirements. At that point, a certain percentage of the paycheck, known as the contribution rate, will be directed into the investment fund the company has selected...

Economic Insecurity

Jan 11, 2018

Inequality and economic insecurity have been on the rise among American workers for years. A new report from the Organization for Economic Cooperation and Development finds that the situation deteriorates further as Americans age into retirement...

Fragile finances

Jan 4, 2018

Record number of Americans older than 65  are working – now nearly one in five as indicated by the Washington Post. That proportion has risen steadily over the past decade and at a rate far in excess of any other age group...

Where to Retire

Dec 28, 2017

We often pontificate about how to save for retirement, how much to save, how long to work, and how to budget. But perhaps the solution to retirement lies largely in deciding where one should live.

A 2016 Fidelity study estimates that a typical retired couple will have $260,000 in out-of-pocket healthcare outlays, up from an estimated $220,000 in 2014...

Delaying Retirement

Dec 15, 2017

There are a lot of people in a lot of places offering retirement advice.  Many of these advisors suggest taking full advantage of employer-sponsored savings plans, maintaining a diversified portfolio, and quickly paying off high interest debt.  All of that makes sense...

What does it mean to retire early?  Well, according to Aperion Care, which has produced an interactive map indicating the official and average retirement ages for people around the world, the typical American leaves the workforce at the age of 63...

When people need cash in a hurry, their lack of emergency savings can create financial issues far beyond that short-term cash crunch.  

Questioning Retirement

Nov 23, 2017

So you want to retire early? There's some questions you should be asking yourself. 

Inequality and economic insecurity have been on the rise among American workers for years...

Many would agree that we are in the midst of a retirement crisis, with many households effectively having saved nothing for retirement and therefore enormously dependent upon a single source of income – Social Security.  But is it possible that one day in the distant future, America will not be in the midst of a retirement crisis because household savings patterns will have changed? 

In this segment, we often discuss the lack of preparedness for retirement suffered by many Americans. But with the economy improving recently and financial markets surging, there have been some positive developments and there is evidence of growing confidence among seniors...

October is an important month for America’s retirees. That’s not simply because there will soon be children banging on doors making outrageous demands for candy and threatening diabolical acts. It’s also because October is the month when Social Security trustees typically announce the annual cost of living adjustment to monthly checks.  

Working Seniors

Oct 19, 2017

Many of us worry that we will not have the financial capacity to actually retire. We are living longer, which is a good thing, but our lives are also more expensive and many of use to not have an extensive financial safety net.  Accordingly, record number of Americans older than 65 are working – now nearly 1 in 5 as indicated by The Washington Post.  

Unpaid Eldercare

Oct 13, 2017

For a growing share of older Americans, retirement may be approaching, but so too is a new job:  unpaid care for the elderly...

There is a notion there when people retire, their spending immediately plunges. After all, retirement implies a rapid transition to fixed income, including perhaps income from Social Security. But it doesn’t work like that. For many people, retirement appears to be a multi-year transition rather than representing a discrete point in time...  

Young Workers

Sep 28, 2017

As challenging as many older workers have found it to save money for retirement, the situation may be even worse for younger workers.  The rising cost of education represents a major challenge for Millennials trying to get a head start on saving for retirement.

Living on Less

Sep 21, 2017

Due in large measure to the inadequacy of retirement savings in America, data continue to indicate that many retirees are living on remarkably little income and sacrificing essentials to make ends meet.  

According to a recent analysis by Fidelity, a couple retiring this year will require an estimated $275,000 to cover healthcare costs during retirement...

Wage Gains

Sep 7, 2017

For months, economists have puzzled over low wage growth in the context of low unemployment.  The nation’s official rate of unemployment recently hit a 16 year low, but average hourly earnings are only up about two and a half percent over the past year, well short of the three and a half percent that typifies a solidly performing economy. 

What you should be doing to prepare for retirement depends largely on how old you are today. As indicated by writer Kerry Hannon, if you are in your twenties and thirties, you may want to read a book on personal finance if you haven’t done so yet. You also want to sketch out your monthly budget, including items like rent, groceries, and loan repayments.  

frankieleon/flickr

There are many articles on how to save for retirement, but less so on how to stretch your resources once retirement begins...


Pic Basement/flickr

Perhaps you’ve heard this before – you are going to need a million dollars to retire. Your initial response may be to ignore such counsel – after all, that number just seems a little too round to be right...


Many have read reports regarding how ill-prepared many Baby Boomers are for retirement. Last year, GoBankingRates published research involving more than 1500 adults over the age of 55. As indicated by writer Barbara Friedberg, approximately 30 percent of those respondents claimed to have no retirement savings...  

Many have read reports regarding how ill-prepared many Baby Boomers are for retirement. Last year, GoBankingRates published research involving more than 1500 adults over the age of 55. As indicated by writer Barbara Friedberg, approximately 30 percent of those respondents claimed to have no retirement savings...


When to Retire

Jul 20, 2017

Deciding when to retire is a question many will face at some point. It is not a simple matter. Many factors are at work. USNews supplies five initial items worth considering as one contemplates making the transition to retired status. The first is obvious – the income analysis. One needs to consider their potential retirement income sources, including Social Security...


Sans Savings

Jul 13, 2017

Over time, the volume of data indicating the inadequacy of savings grows. For instance, according to a recent GoBankingRates survey, 35 percent of all adults in American have only several hundred dollars in their savings account. 34 percent have zero savings and about half of U.S. families have no retirement account savings...

Is there a retirement crisis in America?  One is tempted to simply answer yes.  Our population is aging, Social Security’s trust funds will be depleted by twenty thirty four according to the most recent analysis, and the median households headed by someone aged fifty-five to sixty-four has just a bit more than one hundred thousand dollars in retirement savings.  Despite this, economists and others remain sharply divided with respect to the question of whether or not American is in the midst of a retirement crisis.  

Saving for retirement is arguably the most complicated financial endeavor we will undertake.  Not only does saving for retirement implicate theories of portfolio construction, but also our likely lifespans, our tolerance for risk, our shared economic future, and the likely trajectory of our own careers...

Pages