As many retirees rely on a fixed income, the decision of where to retire can sometimes be tough. The golden ticket is finding a place that is not just affordable but enjoyable. Many retirees want a place that is alive with arts, culture, and community.
Luckily, AARP has done the research so you can get the most bang for your buck! Their listing of the “10 Best Places to Live on $100 a Day”:
- Spokane, Washington
- Las Cruces, New Mexico
- Eau Claire, Wisconsin
- Roanoke, Virginia
- Morgantown, West Virginia
- Pittsburgh, Pennsylvania
- San Antonio, Texas
- Omaha, Nebraska
- Grand Junction, Colorado
- Gainesville, Florida
Read AARP’s full article: http://www.aarp.org/home-family/livable-communities/info-07-2012/best-places-for-low-cost-retirement.html?intcmp=HPBB2C
In and around the hard-hit city of Detroit, PBGC is protecting the retirement of people making a difference. The agency has stepped in to protect the retirement income of the nearly 1,600 employees of United Way for Southeastern Michigan.
While the pension plan is ending, the not-for-profit United Way for Southeastern Michigan is not. So, workers there can continue the non-profit's mission to improve communities and individual lives with the confidence that their pensions are safe.
The pension plan had a shortfall of about $23 million, which PBGC will make up from its insurance funds. Retirees will get their full benefit, up to the limits set by Congress ($54,000 a year for a 65-year-old).
If you're a member of the pension plan you will get a letter from us soon with more information. In the meantime, see the United Way for Southeastern Michigan plan page for more information.
According to a recent Prudential study, women are less confident about their retirement finances than their male counterparts. The study also highlighted the difference in level of confidence between women younger than 35 and those of the baby-boomer generation. It is believed that this confidence gap may reflect a gap of knowledge and experience.
An article from CBS Money Watch details the following tips women can take to boost their confidence about being prepared for the future.
1. Go for retirement benefits
2. Contribute to spousal IRA
3. Inventory your retirement benefits
4. Monitor and manage investments
Read the full article on CBSNews.com.