retirement

Retirement for baby boomers will look different than it did for their parents — Americans are living longer, health care costs more, fewer people have pensions today, and many people facing retirement haven't saved much.

All of that makes managing the nest egg you do have even more vital. But many people need and want guidance on what they should do to make sure their retirement savings last.

A new luxury resort has opened on a Tahitian island once owned by Marlon Brando and it could soon start to pay a dividend to Washington state’s retired public employees.

Ryderwood started as a timber company town. When the loggers pulled out in the early 1950s, an enterprising developer converted the entire six-block by six-block village in southwest Washington into a retirement haven. Now Ryderwood could serve as a social science Petri dish to study bitterness, division and healing.

The Musso and Frank Grill is a cherished time warp in Los Angeles. Once inside, you're in old Hollywood: The place is all dim lighting and curved booths, with a soundtrack featuring every song you ever heard in a black-and-white movie. It's a steak-and-martini kind of place.

And the guy who makes those famous martinis is Manuel "Manny" Aguirre. He's been mixing cocktails for 55 years, more than two decades of that behind the long bar here. He just turned 80 and could retire if he wanted to.

After two decades as south central Washington’s congressman, Republican Doc Hastings announced Thursday that he is retiring at the end of the year.

Transcript

RENEE MONTAGNE, HOST:

Boeing just extended its contract in Washington, keeping more than 10,000 jobs in state, partly by adjusting employees' pension plans. Last week, we heard on this program how these kinds of deals can cripple the middle class as corporations shift benefit costs from their books into the pockets their workers.

Today, Jacob Kirkegaard of the Peterson Institute for International Economics offers a counterpoint to David Greene, beginning with a breakdown of what that means for workers.

A Washington state senator says if 401(k)s are good enough for Boeing machinists, they should be good enough for those who hold elected office.

The Big Bang, Brian Kimberling, And Less Work With More Rewards

Apr 29, 2013

The Sound Of The Big Bang
What does the Big Bang sound like? That question inspired Dr. John Cramer, physicist at the University of Washington, to try and recreate the sound emanating through space after the Big Bang. Using data and a complex computer program, Dr. Cramer was able to synthesize a 100-second recording representing the first 760,000 years of the evolution of the universe.

Brian Kimberling: Author Of "Snapper"
In 13 connected tales, Brian Kimberling tells the story of Nathan Lochmueller, an aimless college grad who wanders through his early 20s and into the world of songbird research. Kimberling himself spent two years as a professional bird watcher in southern Indiana. He joins us to talk about his debut novel, "Snapper."

A Future Of Less Work With More Rewards
Traditional retirement may not be in the future for many workers, but neither is the notion of a 40-hour work week at unloved jobs. Planning for a transition to important but less time-consuming work is a growing business. It's creating new jobs and offering new pathways for people who plan on working well beyond the current retirement age.

Flickr Photo/Volker Neumann

A new study by the National Institute on Retirement Security found that people under 40 are more anxious than ever about their retirement. With Social Security benefits dwindling and pension plans becoming more and more scarce, many experts say planning early is more critical than ever. But for many under 40, rent, student loans or cars are far more pressing financial matters. So, how do you start? Ross Reynolds talks with National Institute on Retirement Security Executive Director Diane Oakley about the most recent trends in retirement, and gets advice on how and what to save from certified financial planner, Mindy Crary.

The oldest of the baby boomers came of age in the 1960s and are beginning to retire. Their younger cohorts are still putting kids through college and building careers. Baby boomers are a giant portion of the population — 78 million people, by one estimate.

They grew up in an era of rising living standards, but the Great Recession destroyed any sense of financial security — and many nest eggs. Financial planner Tim Maurer outlines a variety of issues boomers face.

Who is a baby boomer, and what defines their financial situations?