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Retirement News
Many Americans Still Plan to Rely on Social Security
for Retirement Income
Gap between retirement targets and source of income
continues
 November
9, 2006 - Despite the common speculation that Social Security and
company provided pensions may not be available for Americans when they
approach retirement, many still plan to rely on them as significant
sources of income when they retire. Nearly one in four Americans
indicate they will look to Social Security (23 percent) for their
primary source of income during their retirement years, according to a
new survey by the Retirement Corporation of America.
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New Free Online Retirement Calculator Gives Users an
R-Score
Interactive site for
those turning to
Web for retirement planning
October 30, 2006 A nagging question that hits
most Americans, often too late, is how much money do we need for
retirement. There is now a new source on the Web to measure retirement
readiness. Nationwide Financial Services, Inc. has announced the launch
of RetirAbility Check. It is a free, innovative and customized
financial resource that enables users to generate a single number
their R-Score, similar to a credit score.
Read more...
Guarding Your Wealth for Senior Citizens
Retirement Investing: Forget 4% Guide
Take action now to
protect your lifestyle dreams
By Jeffrey D. Voudrie, CFP
October 4, 2006 - Do you want to reduce your
standard of living when you retire? Of course not. But if you follow
conventional financial planning wisdom concerning retirement
investing, thats exactly what you may have to do! Whether you are
currently retired or wanting to in the next 5 to 10 years, you must take
action now to protect your lifestyle dreams.
Read more...
Read more
on
Retirement |
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The survey also highlights a distinct gap between
what Americans think they need to have saved by the time they retire and
where they expect to derive their income during their retirement years.
While nearly
● Six in ten (59 percent) believe that they are likely to reach
their savings goal.
● Only three in ten (31%) believe that their savings, mutual funds or
IRAs will be the primary source of their income.
● Sixty-one percent of non-retired Americans believe that they will
need to have saved $500,000 or more when they retire.
"It is not surprising that many Americans believe
they will have enough money to retire," said Daniel Kiley, chairman and
chief compliance officer of the Retirement Corporation of America.
"Increased life expectancy has driven many to work
for a longer period of time, offering a greater chance of achieving
financial retirement targets. However, as traditional sources of
retirement income such as company pensions and Social Security dwindle
by each passing day, more Americans will have to take charge of their
finances and begin planning and investing to generate alternate streams
of income."
Survey respondents were split in their views about
retirement age.
● One in four Americans does not plan to retire at all,
● One quarter plan to retire between the age of 51-60 and
● 36 percent plan to retire between 61 and 69.
Further, most Americans indicate that they are
actively planning for retirement, as 70 percent indicate that they are
regularly saving or investing some of their income and 38 percent say
the amount they are saving or investing will be enough for their
retirement.
Editor's Notes:
About the Survey
The survey is based on a national phone poll of
1,000 non-retired Americans conducted September 29-October 1, 2006 and
was compiled by Rasmussen Reports, LLC, an independent research firm (
http://www.rasmussenreports.com/ ). The margin of sampling error for
a survey based on this number of interviews is approximately +/-3
percent with a 95 percent level of confidence.
About the Retirement Corporation of America
The Retirement Corporation of America is a
Registered Investment Advisory firm based in Cincinnati, Ohio. It was
founded by Dan Kiley to help the average investor avoid the troubles
that can be created as a result of poorly handled investments. RCA
offers Money Masters Investment Portfolios - a personally tailored and
risk-adjusted online investment portfolio containing the top 10 stock
fund managers and top five bond fund managers, as determined by the
company's strict selection criteria. These portfolios are available to
every American with no minimum account balance, no commissions, no
transaction fees and no exit penalties, just a modest annual investment
management fee of one percent (or less) of the client's account balance
and a small account set- up fee. RCA has chosen Fidelity as the
third-party custodian, responsible for holding all assets, executing
trades as directed, and providing ongoing reports.
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