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The battle for a secure retirement is about to get even tougher. Several new surveys of company executives show that they plan to reduce or suspend their company's retirement-plan contributions this year. Dozens of employers in the past year have already slashed such costs. The trend means one important thing for workers: smaller nest eggs, unless they save enough to make ...

Have questions about planning for retirement? Our Money Mentors have some answers. They aren't financial pros. They're ordinary folks who, as retirees, manage their own finances. Their nest eggs, excluding their homes, vary from a couple hundred thousand dollars to $2 million. The one thing they have in common is experience as retirees — and the desire to share the lessons ...

No one can guarantee you a healthy and prosperous retirement. Life is just too unpredictable. But you can increase your odds of enjoying your twilight years in comfort by pursuing a regimen of common-sense steps. Here are six top ones: h4. Decide carefully on health care You can do at least three things to help secure your health in retirement: Take ...

Our readers offer their own tips for what you can do now for a happy retirement: Spend less. Save more. Most of all, make sure you have someone to share your retirement with. Start by living below your means, says Gabe Renzo, 63, of Dearborn Heights, Mich. Young people today, he believes, don't save enough money, and the main reason they ...

During the worst economic crisis in a lifetime, the right financial decisions are crucial. BusinessWeek asked financial planners for some advice on what to do—or not to do—with your money in the New Year. As we bid farewell to a dreadful 2008, these "resolutions" may help keep your finances on the right track in 2009: h4. 1. Don't try to predict ...

Investment losses, job loss or downsizing, an upward adjustment on your adjustable rate mortgage, and higher prices on everything from gas for your car to rice for the table are only some of the current factors that could derail your financial planning for your golden years. When your income is not covering all your expenses, it can be tempting to simply ...

How well are America's workers prepared for financial uncertainties and for the eventuality of retirement? In their own estimation, millions of employees haven't found a secure path to a bright future, whether that future begins in a retirement 40 years from now or at the end of the month, when the bills come due. Those are the disturbing findings of a ...

The Pension Protection Act, which both strengthens employers’ existing pension obligations and discourages them from undertaking new obligations, also makes a broader point to US workers: “The overall message of the bill is, you’re on your own,” says James Lange, a lawyer, CPA and author of Retire Secure. Even so, the 2006 law has also made it less daunting for workers ...

When times are tough, companies find cost savings wherever they can. Now some employers are doing away with the 401(k) match, a benefit once considered almost sacred. The list of companies that have suspended or cut back corporate matching in their defined-contribution retirement plans this year is not trivial. It includes General Motors (GM), Frontier Airlines (FRNTQ), car-rental company Dollar Thrifty ...

It's one of a heap of financial worries that come with a layoff: What happens to your company-sponsored retirement plan? The answer depends on how long you worked for the company, the amount you saved up and whether the money's in a 401(k) or a pension plan. For the most part, federal regulations protect retirement savings, even if a company goes ...

I keep hearing that I should do something or other to improve my tax situation before the year ends. Is there really anything I can do at this point? Whether you are having a good year, rebounding from recent losses, or still struggling to get off the ground, you may be able to save a bundle on your taxes if you ...

1: Medicare doesn't cover nursing home care. Nearly 60% of Americans think Medicare pays for nursing care, and 52% assume that it covers assisted living, according to a 2006 survey by AARP. Not so. Medicare's coverage of long-term care is extremely limited. It'll cover part of the cost of a skilled nursing facility while you recover from an injury or illness. ...

If you're 40 or younger, it's tough to predict how much money you might need when retirement is decades away. A few key calculations, however, can help you make sure your savings plan is on track. h4. Saving Depends on Life Stage Rebecca Pace, a Cincinnati-based financial planner and CPA, recommends putting aside at least 10 percent of your income when ...