How would you like a pension that didn’t kick in until you were 75, but paid generously after that?
Longevity risk is a big concern for my friend, whose mother is approaching her 104th birthday. Here’s what she’s doing to ensure she’ll have enough money.
Men are living longer than they used to — catching up to women whose lifespans aren’t lengthening as quickly as they used to.
Writer and actress Sandra Tsing Loh has an article in the March issue of The Atlantic magazine called “Daddy Issues” in which she bemoans her 91-year-old father’s longevity because, she says, hiring people to care for him is driving her to the poorhouse.
I added up the costs she mentions, and those alone were about $10,000 a month — a staggering $120,000 a year — for live-in help to look after her incontinent and self-absorbed but otherwise healthy father and her dementia-afflicted 72-year-old stepmother. Loh rages:
My family is throwing all our money away on powdering our 91-year-old dad’s giant-baby ass, leaving nothing for my sweet little daughters, with their thoughts of unicorns and poetry and dance, my helpless little daughters, who, in the end, represent me!
If you’re feeling nervous about investing your retirement savings in this unstable investment environment, Jerry Golden, who is an actuary as well as a registered investment adviser, thinks you should calm down. He advises people doing retirement planning to remember they are going to get Social Security, and “Social Security is one of very few
John Turner, who runs the Pension Policy Center in Washington, D.C., thinks he has the answer to making Social Security solvent and a more useful factor in our retirement planning. Turner, who holds a Ph.D. in economics from the University of Chicago, turns 62 in a week. He recently wrote a book on the future
People engrossed in retirement planning have a lot of interesting ideas to share. Here are a few things that have arrived in my e-mail that are worth noting: Leonard McCracken, who on the occasion of his 107th birthday shared some of his financial acumen with us, also generated a little competition among the super-centenarian set.
When I got out the holiday decorations, I found some pictures of my grandmother baking bread. They were shot sometime in the early 1970s, a few years before she died at 94 in a nursing home, complaining with every breath. It was hard on her, and hard on the rest of us who didn’t have