fall retirement guide
Worried About Retirement? You’re Not Alone
In a sign Americans are recognizing the realities they face about their chances for a comfortable retirement, the 2011 Retirement Confidence Survey conducted by the Employee Benefit Research Institute (EBRI) finds workers are more pessimistic than at any time in the two decades the survey has been conducted: More than a quarter (27 percent) of workers now say they are “not at all confident” about retirement, up 5 percentage points from the level measured just one year ago. Reinforcing that trend, the percentage of workers saying they are “very con-
fident” of a comfortable retirement ties with 2009 at 13 percent — the lowest rate ever measured by the survey. Roughly a third of both workers and retir- ees said they had to dip into their savings last year to pay for basic expenses. Significantly, the survey also found those with retirement savings — such as a 401(k) or an IRA — were far less likely than those without these accounts to tap into their savings. “To me, these are positive findings: People are increasingly recognizing
the level of savings realistically needed for a comfortable retirement. We know from previous surveys that far too many people had false confidence in the past,” says Jack VanDerhei, EBRI research director and coauthor of the report. “People’s expectations need to come closer to reality so they will save more and delay retirement until it is financially feasible.” Survey coauthor Mathew Greenwald, of Greenwald & Associates, says,
“Many people are planning to work longer and retire later because they know they simply can’t afford to leave the work place — both for the pay- check and for the benefits. Unfortunately, many retirees also tell us they left the work force earlier than they planned, either because of health prob- lems or layoffs. So it may not necessarily be a bad thing that those who can work longer choose to do so.” VanDerhei noted the survey finds many systemic conditions are forcing Americans to redefine retirement, such as high unemployment rates; federal, state, and local government fiscal crises; rising health care costs; lower investment returns; a surge in the older popu- lation, putting stress on social insurance programs such as Social Security and Medicare; longer life expectancies; and various other long-term factors.
FOCUSES ON HEALTH, SAVINGS, RETIRE- MENT, AND ECONOMIC SECURITY ISSUES. EBRI DOES NOT LOBBY AND DOES NOT TAKE POLICY POSITIONS.
VATE, NONPROFIT RESEARCH INSTITUTE BASED IN WASHINGTON, D.C., THAT
*INFORMATION FROM THE EBRI, A PRI-
comprising 102 luxury apartments, The Wood- lands community offers two options for residen- cy: a 100-percent-refundable entrance fee and a rental program. Amenities include a fitness cen- ter, an indoor heated pool, a theater, three dining venues, a hair salon, outdoor walking paths, and much more. The community opened in 2008. (See ad on page 16.) PET FRIENDLY
WASHINGTON Crista Senior Living, (877) 639-3292, email:
info@cristaseniors.com,
www.cristaseniors.com Crista Senior Living offers two beautiful northwest locations. In Silverdale, Crista Shores is nestled between Seattle and the Olympic Mountains, just minutes from Naval Base Kitsap, shopping, and restaurants. Wa- terfront residential-living apartments feature a private deck, a washer and a dryer, and com- plete kitchens. Assisted living is available on site. In Shoreline, we provide residential living, assisted living, skilled nursing, and rehabilita- tion all on one beautiful 55-acre intergenera- tional campus. We also offer a 60-year legacy and a Christian commitment to excellence in care. (See ad on page 110.)
Panorama, 1751 Circle Lane, S.E., Lacey, WA 98503, (800) 999-9807,
www.panoramacity.org This full-service, accredited CCRC is beautiful, comfortable, secure, and affordable. It is near Joint Base Lewis-McChord and Madigan Army Medical Center. Choose from single-family homes, garden-court duplexes, triplexes, and apartments on 140 acres. Panorama is sup- ported by an extensive spectrum of continuing- care services, including an aquatic and a fitness center and a state-of-the-art skilled-nursing facility and rehabilitation center. Community members have active lifestyles and enjoy life- long learning in the new full-service auditorium and theater/lecture hall. Deposits start at $49,000. (See ad on page 76.) PET FRIENDLY
Patriots Landing, 1600 Marshall Circle, DuPont, WA 98327, (877) 964-4900,
www.patriotslanding.com Patriots Landing is the Northwest’s premier military retirement community, offering inde- pendent-living, assisted-living, and memory- support-care apartments with no buy-ins. Enjoy our spa, pool, exclusive restaurant, club bar, put- ting green, and more. We are located just south of Joint Base Lewis-McChord, and a shuttle to the base is provided. Studios, one- and two- bedroom apartments, and cottages are available. You’ve served us, now let us serve you. (See ad on page 119.) PET FRIENDLY
PHOTO: SHUTTERSTOCK RETIREMENT COMMUNITY SOURCE S EPTEMBER 2011 MILITARY OFFICER K
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