Retire at 70? Maybe not

Retire at 70? Maybe not

CHICAGO (10/9/12)--Are you expecting to work an extra five years, say to age 70 instead of 65, so you can afford to retire? According to recent data from the Employee Benefit Research Institute (EBRI), this could be a dicey strategy (Chicago Tribune Sept. 28).
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Using data from millions of 401(k) participants and incorporating factors such as longevity, investment risk, and potential catastrophic health care costs, EBRI examined whether working five years beyond age 65 actually would help Americans reach their retirement goals.

EBRI found that those in the lowest income brackets would have to work to age 84 to have a 50% chance of meeting their retirement goals. Only those in the highest income brackets would have the same probability of meeting their goals and retiring at age 65.

The report doesn't mean you should abandon the idea of working longer. In addition to the beneficial social effects, every year you work gives you the opportunity to continue saving, allow your retirement funds to grow and delay taking Social Security, thereby increasing the size of your benefit. But what if you lose your job or have a catastrophic health event?
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Take a diversified approach to assure your retirement income will let you live the lifestyle you desire. This means save more, spend less, create income, and be sure to include health-care insurance costs in your plans.

Save more:

• If you don't have a budget, create one. If you already have a budget, revise it to reflect your serious commitment to saving.

• Contribute to retirement accounts such as individual retirement accounts (IRAs) and 401(k)s. If you have an employer match, make sure you meet it. Ask your financial adviser for help with asset allocation--it will have a big impact on your long-term returns.

• Devise a withdrawal strategy. Work with your financial adviser to make sure you withdraw from taxable and tax-deferred accounts in a way that makes your money last as long as possible.

Spend less:

• Reduce or eliminate any high-interest debt. Prime example: credit card debt.

• Alter your lifestyle. If today's lifestyle includes expensive vacations far from home, look local for satisfying, affordable getaways.

• Downsize. Reduce housing costs by moving to a more affordable home and/or community.

Create income:

• Stay at your job if you are able. Even part-time work will help you meet expenses.

• Start a small business. Network with seniors to get ideas and support.

• Take in housemates. Family members may also provide mutually beneficial living arrangements.

• Find out if a reverse mortgage could benefit you.

Include health-care insurance costs:

• Procure private health insurance or Medicare. Sign up for Medicare on time to avoid a premium hike.

• Plan for chronic illness. Investigate the pros and cons of signing up for long-term care insurance.

EBRI's website, Choose to Save, offers a simple, two-page calculator that helps you?quickly identify the ballpark amount you need to save to fund a comfortable retirement. If you've already used other calculators, this one provides a new slant on the numbers.

For more retirement information, read "Four Key Steps to 'No Regrets' Retirement" in the Home & Family Finance Resource Center.

? Home & Family Finance? Resource Center
? Copyright ? 1997-2012 - Credit Union National Association Inc.

Source: http://hffo.cuna.org/11270/article/3629/html

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Business society: Payroll Outsourcing Process

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Source: http://vauxhallsociety.blogspot.com/2012/10/payroll-outsourcing-process.html

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Milwaukee Real Estate News: Amp Up Curb Appeal

A property?s curb appeal naturally makes a critical first impression. ?If everything within the front space is well-chosen and in perfect repair?from the mailbox and house numbers to the walkway and landscaping?buyers will think, ?This house is obviously well-cared for,??? says Lisa Grant Vail, a real estate professional with Keller Williams Atlanta Perimeter and coauthor of?Creating Curb Appeal?(Schiffer Publishing, 2009). ?This message is imprinted on their brains, even if the rest of the house is actually not as well cared for. It?s very hard to change a first impression.?

While most real estate professionals advise their clients to tend to the yard work, trim the trees, and put out a new welcome mat, they may miss other opportunities to help sellers improve a home?s curb appeal. Staging and real estate professionals offer some compelling ideas for sprucing up exteriors.

Source: http://blog.bestmilwaukeehomes.com/2012/10/amp-up-curb-appeal.html

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Source: http://picturing-food.livejournal.com/6393966.html

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West Nile Outbreaks Likely to Be Unpredictable for Decades

This year's outbreak of West Nile virus is one of the biggest in U.S. history, and what next year will hold is anyone's guess, experts say.

In fact, the disease is likely to remain unpredictable for decades to come, said Dr. Lyle Petersen and Dr. Marc Fischer of the Centers for Disease Control and Prevention, who wrote about West Nile in this week's issue of the New England Journal of Medicine.

As of this week, nearly 4,000 cases of West Nile virus have been reported, the CDC says. While that's about the same as the numbers reported in 2002 and 2006, it's about six times the number reported in 2011.

"Until this year?s resurgence, many experts questioned whether West Nile virus would remain a substantial public health concern," Petersen and Fischer wrote. But our knowledge of viruses similar to West Nile suggests that it "will cause sporadic cases and unpredictable outbreaks big and small for decades to come," the researchers said.

West Nile virus is carried by birds, and spreads to people by mosquitoes. Just how many cases of West Nile are seen in a given year depends on a number of factors, including the number of birds and mosquitoes carrying the disease, the location of the carriers and how fast the virus replicates in mosquitoes, the researchers said. Many of these factors are influenced in some way by the weather, but West Nile virus outbreaks are not consistently tied to heat waves, they said.

There's also some randomness in the disease's spread, meaning that even under similar conditions, there could be a variety of outcomes just by chance, the researchers said.

"Thus, generating long-range predictions regarding West Nile virus outbreaks will be a formidable, if not impossible, task," the researchers said.

There are no treatments for West Nile, and no vaccine against the disease exits. The sporadic and widespread nature of the disease makes it difficult for researchers to conduct trials that would include enough people to prove a treatment is effective, the researchers said.

"New paradigms are needed for bringing novel therapeutics and vaccines for emerging diseases such as West Nile virus to market in a timely and cost-efficient manner," Petersen and Fischer said.

The researchers noted that sporadic cases of a similar disease, St. Louis encephalitis, have been reported in the United States for 80 years. "Clearly, a long term perspective is necessary," they said.

Pass it on: Outbreaks of West Nile have been unpredictable, and will likely remain so for decades to come.

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Copyright 2012 MyHealthNewsDaily, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/west-nile-outbreaks-likely-unpredictable-decades-223249761.html

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Trash Talk: Lions looking like sad sacks again

DayTimeEventLocationTalentSaturday, Oct. 61:30 - 3:30 p.m.Red Bull Signature Series: Joy RideVirgin, UtahTodd Harris, Jamie Bestwick, Kenan Harkin3:30 - 6 p.m.MLS: Chicago at New YorkNew YorkSteve Cangialosi, Brian Dunseth, Jim Kozimor7:30 - 11 p.m.Miami at Notre Dame (Soldier Field)ChicagoTom Hammond, Mike Mayock, Alex FlanaganSunday, Oct. 72 - 3:30 p.m.Professional Bull RidingPhiladelphiaCraig Hummer, Ty Murray, Marty Snider3:30 - 4:30UCI Road Cycling World ChampionshipsLimburg, NetherlandsSteve Schlanger, Todd Gogulski, Liam McHugh4:30 - 6 p.m.America's CupSan Francisco, Calif.Todd Harris, Gary Kobson7 - 8:20 p.m.Football Night in AmericaNew YorkBob Costas, Dan Patrick, Tony Dungy, Rodney Harrison, Peter King, Alex Flanagan, Mike Florio, Hines Ward8:20 - ConclusionSunday Night Football: Chargers at SaintsNew OrleansAl Michaels, Cris Collinsworth, Michele Tafoya

Source: http://nbcsports.msnbc.com/id/49261114/ns/sports-nfl/

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Amplats says security worsens at its S.Africa mines

CARLTONVILLE, South Africa (Reuters) - Anglo American Platinum warned on Tuesday that security had worsened at its strike-hit South African mines as several thousand gold miners rallied over pay in the dispute-plagued industry.

As many as 75,000 miners, or 15 percent of the South African mining sector's total workforce, are on wildcat strikes, threatening already shaky growth of Africa's biggest economy.

The ruling African National Congress and President Jacob Zuma have drawn criticism for their handling of the mines unrest, with political opponents and analysts saying they have not responded quickly enough to address workers' grievances.

"The security situation in the Rustenburg area worsened during yesterday evening," Anglo American Platinum said in a statement, referring to its mines in the country's "platinum belt" about 120 km (75 miles) northwest of Johannesburg.

Amplats, the world's top platinum producer, said it had advised workers not to come to work on Tuesday, but expected to resume operations on Wednesday.

Its four Rustenburg mines have been shut for more than two weeks, costing it more than 20,000 ounces in lost output.

The company also said workers at a mine northwest of Rustenburg on Tuesday refused to go underground. It said it had obtained a court order against those miners and told them to return to work.

Seven weeks of labour unrest has left more than 40 people dead, raised questions about the government's inability to address widening inequality and rattled overseas investors.

Wildcat strikes, which erupted at Lonmin's Rustenburg operations, have now spread across the mining industry.

Two thousand striking miners evicted from company housing at a Gold Fields mine occupied a nearby hill on Tuesday.

A similar stand-off with police at Lonmin's platinum mine in August led to the shooting of 34 miners in South Africa's bloodiest security incident since the end of apartheid in 1994.

NOT GOING BACK

The protesting workers at Gold Fields' KDC West mine, 50 km (30 miles) west of Johannesburg, said they would not leave the rocky outcrop near the mine entrance until they received a pay increase to 12,500 rand a month.

As with the now-finished wildcat strike at Lonmin's Marikana platinum mine, many of the Gold Fields employees were armed with sticks, but had few belongings beyond the ragged clothes they were wearing.

Fifteen thousand KDC West gold miners downed tools on September 10, hitting production at the world's fourth-biggest bullion producer. Gold Fields bosses have refused to negotiate with them.

On Tuesday, company security officers evicted thousands of strikers from company hostels, yet the miners - faced with sleeping rough on the hill - refused to back down.

"We want 12,500 (rand). We are not going back. We'll stay here until the management comes here and talks to us," 25-year-old miner Thabane Mohale told Reuters as he started to climb the hill, armed with a stick.

There was no sign of the police near the hill.

Gold Fields spokesman Sven Lunsche said about 5,500 workers were housed at KDC West but many had not left yet and the company was seeking a court order to complete the evictions.

"Law and order was breaking down in the hostels," Lunsche said. "They were used as a base to plan and coordinate unlawful and life-threatening activities in support of the illegal strike."

Separately, Gold Fields said it had resolved a two-year-old dispute with union leaders over the future of its South Deep mine. The agreement, which will secure existing jobs and create 400 new ones, will cost the company 170 million rand.

In the diamond industry, producer Petra Diamonds said a "limited number" of workers at its Kimberley Underground mine were on strike, although production had not been affected.

Source: http://news.yahoo.com/amplats-says-security-worsens-africa-mines-054257975--finance.html

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