Evaluating a Job Offer? Your Retirement Pension Should be on the List + MORE Jun 7th

Governments on both sides of the border need to raise the age at which they pay citizens to stop being productive, keynote speaker Michael Falk told the Morningstar Canada annual conference in Toronto today. (The official title of the talk is a slight variant of the blog title above: it was actually Prime Minister, there’s a hole in my safety net.)
Falk, a partner with Illinois-based Focus Consulting Group, reminded the audience of (mostly) financial advisers that the concept of retirement is still relatively young—about 120 years—going back to agrarian societies when bodies gave out earlier than minds do in today’s service economy, and life expectancies were far lower.
It’s arguable that modern retirement constitutes a loss of labour for society as a whole and is a waste of talent, Falk said, adding that the age demographic of 55 to 64 is showing increasing levels of entrepreneurial activity in recent years.
In his own country of the United States, Social Security was created in the wake of the great depression of the 1930s, motivated in part to intentionally discourage saving and coax so-called “job hoggers” into retirement: in effect, paying citizens to be unproductive…

Congratulations! You’ve received an offer of employment. Before you decide whether to accept it or not, you’ll need to weigh this decision very carefully. If you’re like most people, salary and vacation entitlement will be important considerations. You’ll also be wondering about health and wellness benefits before switching employers. Another factor that should make the list is the workplace pension/savings fund.
Changing Jobs a Fact of Adult Life
How many jobs have you held in your lifetime? According to the results of a report released by the U.S. Bureau of Labor Statistics, younger members of the Baby Boomer generation held an average of 11 jobs from the ages of 18 to 44. Twenty-five percent of people had 15 jobs or more, while 12 percent held up to four jobs during this period.
Over the past 20 years, participation in employer-sponsored defined pension plans has dropped. If you happen to work for a public-sector employer, you will likely have a Defined Benefits Pension Plan…

Filed under: Family Finances, Retirement and RRSPs, Real Estate, Mortgages
By Dan Caplinger
The Motley Fool

Many Americans struggle to make ends meet during their retirement. A third of all retirees now get 90 percent or more of their income from Social Security, according to figures from Boston College’s Center for Retirement Research. For those who are fortunate enough to own their homes, a reverse mortgage can be an option that can supplement Social Security and other income sources.

Reverse mortgages get their name from the fact that the stream of payments goes the opposite direction from what homeowners are used to. Rather than you making monthly payments to your bank, the lender sends the money back to you.

It’s a simple way for retirees to tap their home equity without the risk of a conventional mortgage or having to sell their homes and move to less expensive housing. But before you decide it’s right for you, you need to understand exactly what you’re getting into.

Here are five facts that are essential to know for anyone considering a reverse mortgage…

Filed under: Budgeting & Planning, Retirement and RRSPs, Saving
By Chuck Saletta
The Motley Fool

This is not an article on how to invest $25 a week and turn it into a million-dollar gold mine. It’s not even an article about how to turn it into half a million dollars, unless you have 40 years to wait and incredible investment returns.

This is a piece about figuring out a way to add just a little bit more to your savings plan — say, $5 a workday, $25 a week, $100 a month — to give your retirement years a nice little boost.

We’re talking about the kind of money that’ll afford you a couple of extra vacations, or a new car, or the ability to spoil the grandkids every now and then. You know, the little things that turn life from mere existence into a pleasurable journey.Continue reading Can You Afford to Save Another $25 Each Week?Can You Afford to Save Another $25 Each Week? originally appeared on Walletpop Canada on Wed, 05 Jun 2013 12:10:00 EST. Please see our terms for use of feeds…

Consortium led by a Kuwaiti sovereign wealth fund and two pension companies bid for British water firm