Retirement

A theme of continuity ran through Tuesdays dedication of a new mural on the Railroad Retirement building near the corner of 11th Avenue and 15th Street in downtown Altoona. Painted by local artist and Clay Cup owner Sarah Garber, the 5-by-50-foot mural depicts Blair Countys beginnings among a net…

OPM earlier had said that more than 150,000 employees accepted deferred resignation offers, either in the initial government-wide offer or in later agency-specific offers, but it had not previously quantified how many of them would be retiring. Image: Tada Images / Shutterstock.com OPM has said tha…

Key Takeaways Only 3.2% of retirees have $1 million in retirement accounts vs. about 2.6% of Americans in general. The average retirement savings for households aged 65-74 is $609,000, while the median is only about $200,000. The number of 401(k) millionaires in America reached a record of about…

MAYA MACGUINEAS (COMMITTEE FOR A RESPONSIBLE FEDERAL BUDGET): We have to fix Social Security. It becomes insolvent in seven years. We need to look at reasonable things like means testing, raising the retirement age, lifting the payroll tax cap. MARIA BARTIROMO (ANCHOR): Yeah. MACGUINEAS: We have t…

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For decades, the formula for a secure retirement was simple: save more. But new research from Goldman Sachs finds that for many younger workers, that approach is slipping out of reach. With rising costs eroding the ability to contribute extra, advisors are turning to more strategic tools to help cl…

NYPD Chief of Department John Chell is expected to announce his retirement later this week after over 30 years with the department, according to a published report. The New York Daily News reported Monday that Chell informed associates he is preparing to retire and could submit his paperwork as soo…