Even if you have enough money saved to support yourself throughout your retirement, you might still want to work for the intellectual stimulation and camaraderie a job environment offers. Many older workers would prefer to stay somewhat connected to the workforce instead of pursuing full-time retirement.

Most older workers (65%) say they would ideally like to include some form of work in their retirement, according to a 2011 Harris Interactive survey of 1,001 people age 55 and older commissioned by SunAmerica. But only 4% of the survey respondents want to work full time in retirement. A quarter of older workers would prefer to work part time, and 36% want to go back and forth between periods of work and leisure.

Most of us would like to enjoy some time away from the hustle of the working world. And yet, work does have positive aspects. Wouldn't it be nice to have the best of both worlds, with time to enjoy retirement as well as time dedicated to work?

Part-time retirement also allows you to address one of my biggest retirement fears, which is becoming bored as a retiree. As a part-time retiree, whenever you have had enough recharging and find yourself searching for things to do to keep busy and engaged, you can start looking for your next work opportunity. By continuing to engage with the working world on a somewhat regular basis, you will meet a new group of people and assume responsibilities requiring your mental effort and learned skills. You will not have time to be bored.

However, this dynamic retirement strategy may not be for everyone and comes with risks. You will need to save up for an extended period of unemployment and could be offered a reduced salary at a new job. You also might not be able to fully enjoy your time off knowing that you will need to find another job at some point. Part-time retirees need to decide whether to continue to invest in learning new skills and technologies and compete with younger workers who are eager to prove themselves.

It might take some experimentation to find a role that suits you, while also allowing enough of the free time you crave. If one job does not work out, you might need to find another or extend your retirement phase a bit longer. This variety and change could be exciting, and you will have a considerable amount of control over when and how you work. But part-time retirement could also be stressful if job offers are not forthcoming when you want or expect them to be.

For me, the ideal would be a cycle of working for one year and then taking three months of retirement. During the first retirement weeks I would take care of my to-do list. Then I would take an extended journey of three to four weeks. After that I would start researching and gearing up for my next job adventure. With such a plan, there is always something new and fresh on the horizon.

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Is part-time retirement for you?

BOSTON--(BUSINESS WIRE)--

Fidelity Investments, the leader in helping Americans save for retirement1, today unveiled its Retirement Savings Assessment, the first industry analysis that provides actionable and quantifiable steps across three generations (Baby Boomers born between 19461964, X born between 19651978 and Y born between 1979 1991) to potentially help close their estimated retirement income gaps.

The research finds working American households may experience a potential income drop of 28 percent in retirement2, and nearly four-in-ten (38 percent) retiree households report not having sufficient income to cover their monthly expenses. These estimated retirement income gaps could force significant sacrifices that could include cuts in discretionary expenses. To help improve Americans retirement readiness, Fidelity conducted an analysis that quantifies the potential monetary benefits of five straight-forward steps such as adjusting asset allocation and annuitizing retirement assets. Within the context of a comprehensive retirement plan, this analysis can help individuals better understand which steps may make the greatest impact.

While there is evidence that Americans are saving more for retirement, our analysis finds that they need to take additional steps to prepare for the future and take better control of their personal economy, said Kathleen A. Murphy, president, Personal Investing, Fidelity Investments. The study underscores the importance of early engagement in the retirement planning process and the potential impact these five actionable steps can have in helping address the retirement income gap that many Americans are facing today.

Five Steps That Can Improve Monthly Income in Retirement

Based on the analysis, Fidelity modeled five steps for three generations (Baby Boomers, X and Y) to determine the potential impact on future retirement income. The steps, which are actions often considered when developing and implementing a comprehensive retirement plan, include a mix of strategies that can be taken now, whether an investor is working or in retirement:

Most Americans have the potential to get significantly closer to achieving their retirement goals, but they have to take action and consider implementing a mix of these five steps, said Murphy. Whether youre a younger investor deciding to save a little more in a 401(k) or an older investor adjusting investment plans, its never too early or too late to impact your personal economy and take steps to improve your retirement readiness.

To help Americans take steps to improve their current retirement plan, Fidelity published a Viewpoints article today titled Dont take a lifestyle cut in retirement. The article outlines the five steps and the hypothetical impact of each for a Baby Boomer and Generation X household.

As highlighted within the Viewpoints article, the following hypothetical example outlines the profile of a Generation X household, based on the age groups survey responses4. This generation reported an estimated need of $4,900 in monthly retirement income. Based on their current household salary of $74,000 and the amount currently saved for retirement, Fidelity estimates these households will have approximately $3,200 in monthly retirement income, which represents a shortfall of $1,700 a month (see chart for complete methodology). After applying all five steps to the Generation X household, the estimated retirement income shortfall could be completely erased. The accompanying graphic depicts the potential impact of each step individually and also if taken together (For all generational graphics, please click here):

About the Generation X Graphic Methodology

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Fidelity Retirement Savings Assessment Finds Working Americans Facing Significant Drop in Income in Retirement

As kids, they sat on gas lines in the backs of their parents cars. As young adults, they saw the stock market crash, and when it finally came time to settle down, they bought a house at the peak of the housing bubble and then were faced with the worst economy since the Great Depression.

Its no shock that Generation X those born from 1965 to 1981 may get short changed in their golden years.

Though theyve watched parents and grandparents nestled with pensions, Social Security and strong economic growth, these are no longer guarantees. On the other hand, longer life spans with more medical bills and greater need for cash are the reality for many.

Gen X is the first generation to deal with the fact that the models of American retirement are changing and its members are flustered. The generation once called slackers has been true to form with retirement planning.

There's nothing cuter than viral videos of little kids being adorable, except maybe little kids being crabby. Kathie Lee a...

Gen X is a transition generation, says Carol ORourke, a certified financial planner and Executive Director for the Coalition for Debtor Education in New York City. Gen Xers were young during the tech bubble, and when they came of age, housing was a lot more expensive. With all the talk about whether Social Security is going to survive, there is a sense of not having something to look forward to.

According to a 2012 Insured Retirement Institute , IRI, report, only one-third of Gen Xers are "very confident" about having enough money to live comfortably during retirement, cover their medical expenses, and pay for their childrens higher education.

Just 41 percent of the group have tried to figure out how much money they will ultimately need to save for retirement, and among those who have saved, half have amassed less than $100,000.

Even though they have a longer time horizon toward retirement, there has been a tremendous emotional impact on their confidence in the future. What are they going to do to be sure that they have enough? adds Cathy Weatherford, IRI president and CEO.

Along the same lines, a November 2011 report from the Guardian Life Insurance Company of found 82 percent of Xers believe the economy is headed in the wrong direction.

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Retirement for Gen X workers? Get real

A House committee has approved a bill that would allow federal employees to phase into retirement by working part-time and collecting a partial annuity, while a Senate panel has brought out a budget plan that calls for making federal retirement benefits less generous.

The bill approved Wednesday by the House Oversight and Government Reform Committee with bipartisan support mirrors language passed by the Senate last month as part of a transportation bill that is now stalled.

Under current law, the salaries of federal retirees who return to work for the government are reduced by the amount of their annuities, with some exceptions allowing for full payment of both. The phased retirement plan, which the Obama administration has proposed several times, would allow retirees to work one to four days a week, drawing a proportionate salary and a proportionate annuity.

The plan expects that phased retirees would spend a fifth of their time mentoring younger employees, and that savings of more than $460 million over 10 years would be achieved by not hiring full-time replacements and by paying only partial annuities.

Employees would like to work part time, and we would like them to be able to, said committee Chairman Darrell Issa (R-Calif.). He said phased retirement is a common practice in the private sector and noted that under the bill, it would be voluntary for federal retirees and available only at agencies discretion.

Currently, many federal employees retire from government service on a Friday and come back on a Monday either as a rehired annuitant or as a contractor, he said. However, the exceptions allowing both a full salary and full retirement benefits are rare, and if you tell people that if they keep working they only get half-pay or quarter-pay, youre effectively telling them to retire now.

The panels ranking Democrat, Rep. Elijah E. Cummings (Md.), said, This bill will enable employees to ease into retirement and enable agencies to benefit from the institutional knowledge of their most senior employees.

The committee accepted an amendment that would allow employees to deposit in their Thrift Savings Plan (TSP) accounts the value of unused annual leave they receive upon separation or retirement.

The lawmakers also approved a bill that would require new standards for customer service at federal agencies and make compliance with those standards part of employees performance evaluations, and a bill that would clarify that TSP accounts are subject to federal tax levies, an issue that has been in dispute.

In the Senate, a plan offered by Budget Committee Chairman Kent Conrad (D-N.D.) contains several employee-related provisions based on proposals made by the Simpson-Bowles deficit-reduction commission in 2010.

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Bill for phased retirement moves in House

Usually, when people talk about someone "going through a stage" they are talking about a 2-year-old or a teen. But there's another age at which people go through a key transitional period, also marked by angst and rebellion: Call it pre-retirement.

It sets in by the time workers hit their late 50s, even though they are told they should work for another decade or so to maximize their retirement security. But it hits for real about five years before an expected retirement date. It's the period that Prudential Financial Inc calls "the red zone" and another insurance company, Allianz Life Insurance Company of North America, calls "the transitional phase."

Both of those companies talk about that pre-retirement period in the context of selling annuities -- insurance products that offer tax benefits and lifetime income in exchange for large sums of money. But buying insurance or some other financial product is the easy part of retirement planning; the hard work should happen first.

[Related: Planning for Retirement: Plan to Live to 100]

Here are some guidelines for getting through that phase with a minimum of stress and strain.

Get specific about life planning. This can be the most challenging part of the exercise; the rest is just numbers. What are the activities you really care about? Where do you want to travel and need to travel? What kind of lifestyle do you think you will have? There are ways to get help with this. The University of North Carolina at Asheville runs "Creative Retirement Exploration" weekends (http://ncccr.unca.edu/creative-retirement-exploration-weekend). A variety of books and websites claim to be able to help with lifestyle planning. Mutual fund company T. Rowe Price has a new interactive online exercise called "Ready 2 Retire" that walks older workers through some of these questions.

Become a Social Security savant. The program is complicated, but will make a significant contribution to almost everyone who retires in the United States. There are a series of strategies you can use to maximize your benefits, especially if you are married. Couples can tag-team their benefits, claim them and suspend them, defer them and more.

It makes sense to get a good numbers person, an actuary or an accountant, who understands all of this, to help you figure out which strategy is best for you. At least one company, Social Security Solutions (http://www.socialsecuritysolutions) claims to have all of that down to a science. For a fee, it will come up with a comprehensive benefits plan for you.

Do a health-care plan. Private health insurance will change over the next few years, regardless of whether the Obama healthcare reform law is permitted to stand. And it's impossible to predict the future in the way that some companies ask you to. For example, T. Rowe Price asks: "Where would you prefer to receive long-term care? At home, adult day-care center, assisted living facility, nursing home?"

But you can figure out if you're covered for gaps before Medicare kicks in at 65 and afterwards. How is your health? Do you need to be near certain medical facilities? What drugs do you take regularly? Will they be covered under Medicare? What are your personal priorities in a gap-filling policy and how cheaply and reliably can you fulfill them?

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Stern Advice: Countdown to Retirement

LOS ANGELES--(BUSINESS WIRE)--

Transamerica Retirement Services announced today the appointment of Darren Zino as division vice president of the companys mid-Atlantic region. In this new role, Zino will oversee all sales activities for the region and will be based in North Carolina. He will report to Jason Crane, senior vice president and national sales director.

Transamericas prominence in the small and mid-sized retirement plan arena continues to gain momentum, and we are always looking for ways to meet the business needs of financial advisors and third party administrators, said Stig Nybo, president of Transamerica Retirement Services. Darren is an excellent addition to our sales management team, and I am confident he will be instrumental in helping us exceed our future strategic and growth objectives.

Transamerica continues to experience record-breaking results. For the three-year period ending 2011, new business written sales increased more than 50 percent, and the number of plans sold during the same period increased more than 25 percent. Additionally, at the end of 2011, assets under management and written sales reached all-time highs for the company.

With more than a decade in the retirement plan industry, Zino most recently served as divisional vice president for The Hartfords retirement plans group. He received his Bachelor of Arts in economics from the University of Florida.

Darren is a high caliber retirement services professional who has proven over a distinguished career his unique ability to build strong relationships, said Crane. Ive had the privilege of working alongside him in the past, and his sales record in the region speaks volumes about his acumen for this management role. He is an established leader in our industry, and I am honored to have him join our team.

About Transamerica Retirement Services Corporation

Transamerica Retirement Services Corporation (Transamerica or Transamerica Retirement Services), which is headquartered in Los Angeles, CA, designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica and its affiliates have more than 17,0001 retirement plans totaling more than $20 billion1 in assets. For more information about Transamerica, please refer to http://www.TA-Retirement.com.

1As of December 31, 2011.

TRSC 6293-0412

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18-04-2012 06:13 Improve your business performance by understanding what motivates you.

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DULUTH, Minn., April 18, 2012 /PRNewswire/ -- Cirrus Aircraft announced today that its Cirrus Vision SF50 personal jet program, with major investment by its new owner CAIGA, is fully funded through certification and initial production. The company anticipates first customer delivery will take place in 2015.

The Cirrus Vision creates a new category in personal aviation it is the first aircraft of its kind to fill the gap between high performance pistons and traditional turboprop twins and light business jets. The Vision will offer the same class-leading innovation, technology and style hallmarks that Cirrus is known for in its best-selling SR20, SR22 and SR22T family of single engine piston aircraft. Seating up to five adults and two children in an expansive cabin that sets a new standard in luxury and flexibility for pilots and passengers, the Vision is designed for performance, affordability and safety.

"Today is simply a tremendous milestone for Cirrus," said Dale Klapmeier, CEO and Co-founder of Cirrus Aircraft. "We revolutionized general aviation with the introduction of the SR20 just over a decade ago. With more than 5,100 SR-series aircraft delivered to date, pilots, entrepreneurs, families and aviators of all kinds have embraced our dream. Today, that dream is renewed as we are on the cusp of an even bigger leap with the Cirrus Vision. Cirrus customers, employees and partners around the world are rightfully proud of this moment."

Klapmeier added, "We have come so far in just a brief time with our new owners as they share our vision for the future of aviation and personal transportation. They have set the highest expectations for the Cirrus team. But more importantly, they are actively partnering with Cirrus while providing substantial resources for us to meet and exceed our shared goals as we build an entire family of Cirrus aircraft."

The first flight of the Vision concept aircraft was in 2008. Detail design, systems verification and full flight envelope testing have been ongoing since that time. Today's investment, however, significantly increases the pace and momentum of the program and allows the company to bring the jet to the market. In an effort to ramp up to certification and production, Cirrus Aircraft will accelerate hiring of engineers, designers and other related technical disciplines critical to the completion of the program.

The Cirrus Vision development team, working with global design and vendor partners, is based at Cirrus Aircraft company headquarters in Duluth, Minn., and Vision jets will be assembled right alongside the SR20, SR22 and SR22T in the same Minnesota and North Dakota Cirrus Aircraft production facilities. Garmin (avionics and flight deck), Williams International (turbofan engine) and Triumph Group (trailing link landing gear) are just three of the strongest brands in aerospace that are members of the Vision supplier team.

Through June 30, 2012, the list price for a well-equipped Cirrus Vision SF50 is $1.72 million with list price moving to $1.96 million effective July 1, 2012.

For more information visit http://www.cirrusaircraft.com.

About Cirrus Aircraft Cirrus Aircraft is a recognized leader in general aviation.Its all-composite line of personal aircraft the SR20, SR22 and the turbocharged SR22T incorporate innovative and advanced performance, electronic and safetytechnologies, including Cirrus Perspective by Garmin avionics and the unique Cirrus Airframe Parachute System (CAPS). As of early 2012, total time on the worldwide Cirrus Aircraft SR-series fleet surpassed five and a half million flight hours with 53 lives saved to date as a direct result of CAPS being a standard safety feature on all Cirrus aircraft. The Cirrus Vision SF50 jet, with over 500 production positions reserved, will provide a new personal and regional business transportation solution the personal jet.All Cirrus aircraft are made in the USA with a direct sales force in North America and authorized sales centers covering export markets in 60 countries around the world.Cirrus Aircraft is wholly owned by China Aviation Industry General Aircraft Co., Ltd. (CAIGA).For additional information on Cirrus and its products please visit cirrusaircraft.com.

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Cirrus Aircraft Announces 'Full Speed Ahead' for Revolutionary Vision SF50 Jet Program

SOUTH BEND, Ind., April 19, 2012 /PRNewswire/ --Tire Rack, America's largest independent tire tester and consumer-direct source for tires, wheels and performance accessories, celebrates its 10th Anniversary this year as the title sponsor of the Tire Rack One Lap of America (www.onelapofamerica.com), a charitable street-legal road rally race started by the legendary auto writer, Brock Yates, 29-years-ago.

(Logo: http://photos.prnewswire.com/prnh/20120419/CL90946LOGO)

The 2012 Tire Rack One Lap of America begins May 5 at Tire Rack's state-of-the-art 11.7-acre test facility in South Bend, Indiana, and returns there for a final test eight days later on May 12. During that week, drivers will race at tracks like the Autobahn Country Club in Illinois; the High Plains Raceway in Colorado; the road course and drag strip in Brainerd, Minnesota; and two days at the world-famous Road America in Wisconsin. This year, more than 80 entrants will be covering over 3500 miles during the eight day competition.

"Tire Rack is proud to celebrate a decade long partnership with Brock Yates Sr. and Jr. as title sponsor of the Tire Rack One Lap of America," said Matt Edmonds, vice president, Tire Rack. "With nearly 33 years of experience in the tire industry, we feel passionate about continuing to support and educate drivers from all experience levels about the capabilities of their tires and how proper maintenance, traction, safety and durability can be maximized on and off the track."

The Tire Rack One Lap of America is a high level driving competition lasting 24 hours each day and features a selection of the fastest street-legal cars run by all types of drivers from pros to rookies and everyone in-between, as long as they've had some racing experience (and/or two drivers' schools). The event, as it always has been, is one of endurance and vehicle preparation. No support crews are allowed and teams must manage their tires to finish on the same set on which they started. That means frequent checks of air pressure, tread depth and wear and tear for damage. At each scheduled race track, entrants are put through a series of timed lap trials including wet and dry skid pad challenges. Even though scoring is based on performance at the race tracks, the vehicles and their drivers' bragging rights truly kick in when they survive the long distance of driving miles required throughout the competition.

Racing for a Good Cause

Outside of its performance panache, Tire Rack One Lap of America also attracts people from around the country and all walks of life, driving cars as varied as their personalities, for a good cause. The official charity of the Tire Rack One Lap of America is KaleidoLINKS, a 501(c)3 non-profit organization incorporated in Washington, DC, that believes to break out of the cycle of poverty, youth must be empowered not only through education, but through community organization and mentorships. One of theirprograms, KL Racing, will once again be competing in the Tire Rack One Lap of America with a KaleidoLINKS '11 Chevy Camaro piloted by Andrew Stallworth from Bethesda, MD.

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Tire Rack Celebrates 10 Years As Title Sponsor Of The Tire Rack One Lap Of America

Photo: Contra Costa Times.

James Price lives a relatively simple life as an air traffic controller and licensed pilot. Oh and he also built a flight simulator in his garage using a real Boeing 737 cockpit.

In the year 2000, Price bought himself the nosecone section and cockpit of a 1967 Boeing 737. Over the last 12-years Price retrofitted his partial fuselage into a personal flight simulator.

Price stripped the interior of the aircraft section and replaced everything with modern parts to make it function like a real cockpit. This included new seats, pedals, throttles, dual flight controls for the pilot and co-pilot, switches, and a new panel with completely modern instruments. Price and his friend Matt Ford also programmed the flight simulator themselves.

The rig sits inside of Prices three-car garage in Pleasanton, California surrounded by three projector screens that display computer-generated surroundings. The only drawback of the setup is it does not yaw or roll like some fancier rigs. Instead the cockpit only vibrates when the plane maneuvers or because of simulated turbulence.

Of course like any DIY project, Price is not done yet and says hell tinker with it for years to come. Be sure to check out the Mercury News for its full interview with James Price.

[Mercury News via Kyle Wiens via Make]

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Air Traffic Controller Takes Work Home, Builds Personal Flight Simulator