Retirement Related News for 12/31/2015

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From Treasurer Zweifel: Treasurer Zweifel’s End of Year Financial Tips for Missourians

Our day to day lives keep us very busy. And when we’re busy, we tend to focus on things which are immediately in front of us. It’s perfectly understandable, but it can be dangerous when we consider the planning and preparation it takes to make consistent, sound financial decisions. So as 2015 comes to an end, think about some of the simple yet meaningful things you can do to keep your fiscal house in order for the New Year and beyond.

From CNN Money: Don't Freak Out About Health Care Costs In Retirement

Planning for retirement is tough. Figuring out how much money you'll need for health care is even tougher.

More than half of people over 50 recently surveyed by Nationwide said they were "terrified" of the uncertainty.

Health care will likely be your biggest expense during the golden years. It's obviously a tough number to nail down and one that will vary by person, but there are estimates out there. A 65-year-old, healthy couple can expect to spend $266,600 over the course of their retirement on Medicare premiums alone, according to HealthView Services. An estimate from Fidelity is a little less: $245,000. Neither include out-of-pocket expenses or long-term care costs.

From PLANSPONSOR: As Investors, Women Have Unique Circumstances

Women in the workplace face special challenges. Over a lifetime’s career, they make less because of lower wages and sometimes stepping out of the workforce to care for children or parents. They lack confidence, but they are interested in saving and learning to invest for their futures.

Women could use a nudge to complete certain retirement planning activities, according to a report from the LIMRA Secure Retirement Institute. LIMRA research consistently shows that the top financial concern for both sexes is saving enough money for retirement (83% of women, compared with 77% of men). But women seem to have an especially difficult time getting ready for retirement, with just 20% of women surveyed saying they are comfortable with their level of financial knowledge.

From Forbes: 10 Resolutions for Your Retirement

If you’re planning to make New Year’s resolutions for 2016, there’s a good chance at least one of them will be related to your finances. Money management issues like big credit card bills or a small savings account balance may be more top of mind on a day-to-day basis, but the beginning of a new year is a great time to tackle more long-term goals like retirement. Here are some retirement-related action steps to consider resolving to do next year:

From Time: The Retirement Guide 2016

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