Medicare

Retirement Planning Roadmap - Key Events

An outstanding layout of a retirement planning timeline from Emily Brandon at U.S. News and World Report. Key dates and ages are discussed for all manner of retirement planning milestones: 401k contributions and distributions. IRA contributions and distributions. Roth IRA contributions and distributions. Medicare. Social Security . Required minimum distributions. Source: U.S. News and World Report Full Story

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Retirement Planning

Social Security

Roth IRA

401k

Required Minimum Distribution

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Retirement

Medicare

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Required Minimum Distribution

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Retirement

Medicare

Social Security and Medicare Prospects Darken Due to Recession

The recession has hastened the looming insolvency of both Social Security and Medicare. Social Security is projected to start paying out more in benefits than it collects to fund those payments in 2016--a year earlier than expected prior to the recession. The Medicare program began running an annual deficit in 2008 and it did so again this year. The Medicare trust fund is expected to be depleted by 2017 which is 2 years earlier than expected before the recession started. Source: AP

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Social Security

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Medicare

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Medicare

Financial Crisis Will be Seen Fundamentally as a Crisis for Retirees and Near Retirees

Professor James Galbraith provided a keynote address at a recent industry conference sponsored by NAVA—the Association for Insured Retirement Solutions.

Professor Galbraith comes from the Economics department at the LBJ School of Public Affairs at the University of Texas at Austin. A Keynesian and an author most recently of The Predator State, Professor Galbraith has been a consistently strong and vocal advocate of government stimulus and intervention in response to the financial crisis.

Professor Galbraith’s basic message is that...

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Sequence of Returns Risk

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A Couple Retiring in 2009 Needs $240,000 to Cover Health Care Costs in Retirement

Fidelity Investments released their annual estimate of the amount required to cover health care costs in retirement. The $240,000 estimate is for a 65 year old couple retiring in 2009. This amount is in excess of what is provided by Medicare. In other words, the $240K is for costs over and above what is covered by Medicare. The $240,000 is up 50% from 2002, highlighting the fact that retirees face vastly different rates of inflation than the rest of the population. Source: Fidelity Investments...

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