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5 Best and Worst Cities for Retirees

Arlington, Va., is the place to be

(Newser) - Worried about retirement? Consider a move to Arlington, Va. Bankrate has just ranked 196 US cities based on cost of living, crime rate, walkability, quality of health care, state and local taxes, weather, culture, and personal well-being for seniors. The 10 cities to note: The best:
  1. Arlington, Va.
  2. Alexandria, Va.
... More »

IBM Shifting Retirees to Health-Insurance Exchange

It's a growing trend among big companies, says Wall Street Journal

(Newser) - As of the first of the new year, IBM retirees will no longer be on the company health plan—IBM is transferring them to a health-insurance exchange, reports Reuters . The company will give the retirees an annual payment, and they'll use it pick their own plan from a privately... More »

Retiree Wrestles Gator, Saves His Dog

Mild-mannered Florida man dove in, and won

(Newser) - In some crazy alternate universe called "Florida," a mild-mannered retiree dived into a pond and fought a 7-foot gator that was making off with his terrier—and the retiree won. Seems 66-year-old Steve Gustafson was trimming an oak tree at his home in a retirement community when he... More »

Owe Student Loans? Your Social Security Might Be Cut

Feds taking up to 15% of some retirees' checks

(Newser) - If you're retired and owe student loans, your Social Security benefits might not be as big as you thought. More and more retirees who are in student loan default are seeing a chunk of their monthly Social Security checks being grabbed by the federal government. Since January, the feds... More »

7 Best Reasons to Retire Abroad

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
... More »

56% of Americans Retiring With Debt

And most were unwilling to delay retirement to chip away at it

(Newser) - Financially speaking, now isn't such a great time to be a new veteran . Or a resident of Nevada . And it's definitely not a good time to be retiring. Newsweek pulls together a handful of recent studies regarding Americans entering their golden years that are downright depressing. Among them:
  • Bankruptcies are
... More »

Town's Pension Collapse Seen as Warning Across US

When fund ran dry, it stopped paying its retirees

(Newser) - When an Alabama town’s pension fund ran out, it simply stopped sending money to its retirees—a decision that’s never been made before, pension experts believe. That left retired public workers struggling: Some returned to work, one filed for bankruptcy, and one died with no electricity or running... More »

US Retirees Find Flat-Rate Health Bargain in Mexico

IMSS system offers good care for flat rate

(Newser) - Mexico might have a raging drug war and rampant corruption, USA Today reports—but it also has a health-care system that is the envy of many Americans. In fact, many retirees too young for Medicare are moving to Mexico to take advantage of the plan offered by the Mexican Social... More »

Tucson Tops 'Simple Life' List

(Newser) - Of all the cities and towns in America, Tucson, Ariz., offers the simplest and most rewarding living, USA Today reports. The AARP studied demographic information and a city’s stress index—a measure of suicide, crime, and divorce rates—to pick places a retiree might relax easily, and cheaply. The... More »

Like Most Humans, Jacko's Bubbles Retired in Fla.

(Newser) - He sat in the studio as the "Bad" album was recorded, dined with countless celebrities, and was once perhaps the world's most famous chimp. But like so many oldsters, today Michael Jackson's onetime pal Bubbles lives a quiet life in the retirement haven of Florida, reports the Miami Herald.... More »

Live With It: Retirement Must Shrink

Longer lifespans, older population mean quitting age has to rise

(Newser) - With people living longer and having fewer children in developed countries, the population is aging even as the workforce shrinks. And with retirement ages in the 60s, retirees are living longer on pensions. Those demographic shifts make a policy shift inevitable: we’re all going to have to work longer,... More »

GM to Miss Restructuring Deadline, Win Extension

Seeks one month extension to allow negotiations with UAW, bondholders

(Newser) - General Motors, about to miss its March 31 deadline for completing the cost-cutting restructuring plan it submitted to the government, is expected to get a 30-day extension, reports the Wall Street Journal. Though the UAW has agreed to shed 7,600 jobs at GM next week, and another 10,000... More »

Retirement Communities Seek Younger Residents

Housing bust leads to 'age desegregaton'

(Newser) - A rash of vacancies caused by the ugly housing market has prompted many retirement communities to consider lowering, or even eliminating, age restrictions, the Wall Street Journal reports. Many of the communities enjoy lower taxes, and child- and teen-free living appeals to some seniors. But what's being call "age... More »

Worried Florida Seniors Waver on McCain

Key voting bloc, once reliably red, could sink GOP in state

(Newser) - Florida's seniors aren’t looking like such a sure thing for John McCain, the Washington Post reports, casting a big shadow for the GOP over the Sunshine State. Blocks of retirees once solidly behind the GOP are now wavering, fraught with worry about disappearing pensions and climbing health care prices.... More »

Retirees Hit Hard by Markets

Their money is in riskier investments these days

(Newser) - Among those hardest hit by the financial crisis are retirees, and they have less chance to recover than their younger counterparts, the New York Times reports. As companies have abandoned fixed pensions for 410(k)s, retirees can lose large percentages of their wealth in a short period. And low-risk investments, like... More »

In Fla., Obama Lays Into 'Panicked' Mac

Dem touts focus on 'Main Street,' targets state's women, retirees

(Newser) - Barack Obama criticized the administration’s response to the plight of working families today, while calling for steps to regulate large financial institutions, CNN reports. “We cannot only have a plan for Wall Street,” he said. “We must also help Main Street as well.” The Democrat... More »

Rule Threatens Retiree Health Benefits

New regulation allows bosses to dump health insurance for those over 65

(Newser) - A new policy will let employers cut or drop medical benefits for retirees once they pass the age of 65 and qualify for Medicare. The Equal Employment Opportunity Commission has created a specific exemption from age discrimination rules that will allow employers to create two classes of retirees with different... More »

Turley Tackles Player Poverty

Game check to go to Gridiron Greats

(Newser) - Kyle Turley is donating his game check for Dec. 23 to help retired NFL players, and he's urging others to do the same, reports the Kansas City Star. The Chiefs offensive tackle's pay for the Detroit game will go to the Gridiron Greats Assistance Fund, which aims to help retired... More »

UAW Shifts to Hard-Up Ford

As Chrysler ratification nears, toughest talks yet to come

(Newser) - With the United Auto Workers close to ratifying their contract with Chrysler, the union is shifting focus to hammering out a deal with Ford. Negotiations with Ford may prove the toughest of all because Ford is the domestic car maker most in need of cuts, reports the Wall Street Journal.... More »

Social Security's 2.3% Hike Most Stingy Since '04

Increases don't keep up with rising medical costs, critics say

(Newser) - Social Security benefits will rise 2.3% in 2008—or an average of $24 monthly—netting the 54 million recipients their smallest increase in four years. The cost of living adjustment, now $1,079 per month for the average retiree, is based on the third-quarter change in consumer prices, the... More »

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