Gen Xers Aren't Saving for Retirement

From debt to 401(k) plans, it's never too late to prepare

(NEWSER) - According to a new survey, only 14% of US workers are very confident they'll be able to retire comfortably—and more than 50% haven't even tried to calculate how much money they'll need. Workers are increasingly planning to keep working past the retirement age—37% said they expected to work after hitting 65, which is up from 11% two decades ago. If all of the above scares you and you want to start planning, Time offers up six myths about retirement saving that you'll need to get past first: More»

Retire cheaply and luxuriously in a new country

(NEWSER) - Who says you have to spend your golden years in the US? Stretch every retirement dollar you've saved by heading overseas. Here are the seven best reasons, courtesy of US News:

• Live on the cheap: Get the most out of your retirement dollars by shipping out to inexpensive destinations such as Ecuador, Nicaragua, and Panama, and enjoy a comfortable lifestyle for $1,000 per month or less.

Debt weighing down 60-something Americans: Wall Street Journal

(NEWSER) - Many Americans are being forced to put off retirement thanks to mountains of debt and lower wages, a feature in today’s Wall Street Journal asserts. Because wages have barely kept up with inflation over the past 35 years, Americans have been borrowing more money and saving less. As of 2008, a whopping four of every five households headed up by 60- to- 64-year-olds didn’t have enough savings to pay off their debt without touching their retirement accounts. More»

For many, it means postponing retirement or picking up part-time work

(NEWSER) - With the first baby boomers beginning to retire, the Wall Street Journal takes a look at how well their 401(k)s are holding up. Conclusion, in the form of a question: What kind of part-time work would best suit you in your golden years? Most households don't have anywhere near the amount necessary in their 401(k) to maintain their standard of living, generally figured to be 85% of working income before retirement. More»

Financial advisers ponder meaning of 'competence'

(NEWSER) - The first sign of Arthur Packel's Alzheimer's was the call from the homeowner's association asking for unpaid fees. As his mind began its long slide, it turns out, the first thing he did was simply stop paying bills. When his wife tried to pick up the slack, she found much of their money gone. And despite a forensic accountant's efforts, “It just disappeared,” Renee Packel tells the New York Times . More»