retirement

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Peter O'Toole Retires From Acting

Has lost 'heart for it' at age 79

(Newser) - Just a few weeks shy of his 80th birthday, Peter O'Toole says he's done acting. "It's time for me to chuck in the sponge," he announced today. "To retire from stage and screen. The heart for it has gone out of me; it won'...

AIG Boss: Get Ready to Retire at 80

Robert Benmosche makes gloomy comment in response to EU debt crisis

(Newser) - Europe's debt crisis proves the need for governments around the globe to take big steps to get their economies back on track—and that may mean their citizens working for an extra decade ... or two. AIG's chief executive expects the retirement age to ultimately jump to "70,...

Retiring? Better Have $240K for Health Care

Fidelity releases annual estimate

(Newser) - Retiring this year? You and you significant other will need $240,000 for health care expenses, according to Fidelity Investments' latest annual projection. That's up 4% from last year's $230,000 estimate, which is a typical—and actually fairly modest—increase, BusinessWeek reports. Since 2002's $160,000...

6 Retirement Planning Myths

 6 Retirement Planning Myths 

6 Retirement Planning Myths

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...

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
...

GOP Rep. Dan Burton of Indiana to Retire

He famously tried to tie Bill Clinton to aide's murder

(Newser) - Republican Rep. Dan Burton of Indiana won't be running for re-election, he announced today, citing unspecified personal issues. You might remember Burton as the guy who once shot a watermelon in a bizarre attempt to prove that Bill Clinton was involved in the murder of aide Vince Foster. He...

Despite Recession, More Older Americans Employed

In part because they have to be

(Newser) - The good news is that at least one segment of the population has seen its employment statistics actually rise in this economic downturn. The bad news? That segment is older Americans, many of whom are only working because they're afraid they don't have enough savings to retire, the...

Pelosi Daughter: Mom Wants to Retire

Alexandra says her mother 'wants to have a life'

(Newser) - In the for-what-it's-worth department: Nancy Pelosi's daughter tells the conservative Big Government website that her mom would love to leave Congress. "She would retire right now, if the donors she has didn’t want her to stay so badly," says filmmaker Alexandra Pelosi. "She’s...

Cardinals' Tony LaRussa: I'm Retiring

Manager announces retirement days after World Series win

(Newser) - If you’re going to retire, there may be no sweeter time to do it than three days after winning the World Series: “I think this just feels like it's time to end it,” said St. Louis Cardinals manager Tony La Russa today, as he announced his...

Mortgages, Wages Force Many to Delay Retirement

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...

Pentagon Eyes Huge Military Retirement Overhaul

Switching to 401(K)-style plan could save $250B

(Newser) - The Pentagon is considering a major overhaul of the military pension system that would save $250 billion over 20 years. Under the proposal, the system in which service members can retire after 20 years with half their salary would be replaced by a 401(K)-style plan, CBS reports. Service members would...

Work Past Retirement Age &mdash;It&#39;s Good for You
Work Past Retirement Age
—It's Good for You
OPINION

Work Past Retirement Age —It's Good for You

People remain healthier and happier: Geriatrician

(Newser) - Lots of gloom-and-doom forecasts are out there about the demise of Social Security and how Americans will likely have to work past 65 in the not-too-distant future. Don't sweat it, advises geriatrician Katherine Schlaerth in the Los Angeles Times . Generally speaking, people stay fitter, happier, and more mentally sharp...

Election 2012: Republicans in Good Shape to Take Senate Majority
 GOP in Good Shape 
 to Take Senate Majority 
election 2012

GOP in Good Shape to Take Senate Majority

Republicans need a net gain of 3 seats, and 5 Dem-held seats are toss-ups

(Newser) - Thanks in part to a rash of Democrats retiring from the Senate , things are looking pretty good for the Republicans in 2012. In the first edition of its 2012 race ratings, The Hill places five seats currently held by Democrats in the “toss-up” column—and Republicans only need a...

For Retiring Boomers, 401(k)s Fall Short

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...

Another Democratic Senator Retiring

New Mexico's Jeff Bingaman will not seek reelection, sources say

(Newser) - Democratic officials say Sen. Jeff Bingaman of New Mexico intends to retire next year rather than seek a new term. Bingaman would be the latest in a string of departures to hit Democrats as they look ahead to the 2012 election season. He is currently serving his fifth term. Democratic...

Lance Armstrong Retires From Cycling—For Real This Time
 Armstrong 
 Retires— 
 for Real 
 This Time 
'retirement 2.0'

Armstrong Retires— for Real This Time

Though comeback wasn't stellar, he has no regrets

(Newser) - Lance Armstrong is embarking upon "Retirement 2.0," as he calls it. Retirement 1.0 came in 2005, after his seventh consecutive Tour de France win. His comeback, which began in 2009, failed to produce an eighth win, but he tells the AP that even though "I...

Arizona Sen. Jon Kyl Retiring
 Arizona Sen. Jon Kyl Retiring 

Arizona Sen. Jon Kyl Retiring

Possible replacement: Gabrielle Giffords?

(Newser) - Three-term Arizona Sen. Jon Kyl will not seek re-election next year, sources tell Politico and Fox News . The 68-year-old is expected to announce his retirement at a press conference today. Kyl, the No. 2 Senate Republican, was elected to the Senate in 1994 after four terms in the House, and...

Brett Favre Files for Retirement From NFL

Quarterback might really, really, really be done this time

(Newser) - Brett Favre is making it official, again: The 41-year-old quarterback has filed retirement paperwork with the NFL, Fox Sports reports. He's unretired more than most people send racy photos to massage therapists, but the third time might just be the charm: Favre has consistently said 2010 would be his last...

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...

1st Openly Gay Bishop to Retire
 1st Openly Gay Bishop to Retire 

1st Openly Gay Bishop to Retire

Eugene Robinson says the experience has taken its toll

(Newser) - Gene Robinson, the openly gay Episcopalian whose election to bishop reverberated through the religious world, will take early retirement in 2013, reports the Boston Globe. "The last seven years have taken their toll on me, my family, and you,” Robinson told an annual convention of the Episcopal Diocese...

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