Retirees can no longer rely on outdated rules to generate sufficient retirement income. According to the American Academy of Actuaries, a couple who both attain age 65 will have a 50% chance of having one spouse living into their 90s. That means retirees are living longer, and finding a sustainable source of retirement income is now more crucial than ever.
A hacker stole millions from the Oklahoma Law Enforcement Retirement System but the officials say they're confident the money will be recovered.Officials with the OLERS said Monday that the FBI is investigating the cyber crime and that pension payouts are not affected and are not at risk."We notified the FBI, who is conducting an active investigation of the crime ... we are certain the stolen funds will be recovered," OLERS said [...]
VINELAND - Sgt. William Bontcue, the police department’s senior K-9 officer, retires on Sunday after a law enforcement career spanning 175 dog years.His partner, K-9 Yoshi, will join him.It will take time for the crime-fighting duo to adjust to the easy life.“We cut firewood the other day for the first time, we went out in the woods and I had a chainsaw,” Bontcue said recounting a recent jaunt with his [...]
The road to retirement is full of obstacles, but knowing what lies ahead can help you successfully overcome them. Think of a retirement plan as a road map (in the days before GPS) that will help you avoid wrong turns, like not taking advantage of a 401(k), forgetting about significant costs in retirement, and forgetting about your desired retirement lifestyle.
RETIREES OFTEN FOLLOW what is known as the 4% rule.Established in 1994 by financial advisor William Bengen, the rule stipulates that you should be able to withdraw 4% of your retirement savings each year without running out of money during your lifetime.But if you are a long-term investor who has maintained a diversified portfolio throughout your accumulation years, you might instead consider increasing your withdrawals to 5% each year.
Like most cops, retirement was the furthest thing from my mind when I was hired. All I could think about was graduating from the academy, successfully completing field training and getting started with my law enforcement adventure. I wish someone would have said, “Hey kid, you need to start planning for retirement,” so that’s what I’m going to say to all of you. Rookies, veterans and everyone in-between must plan for the day they [...]