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The retirement savings blind spot you don’t realize you have – CNBC

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When do you plan to retire?

Many individuals have an age at which they want to call it quits. And then there's the age when you really stop working.

If you're lucky, those ages are one and the same. But research shows that they're likely not.

Transamerica Center for Retirement Studies recently found that a majority of workers 54% plan to stop working after age 65 or never at all.

"By and large, many simply have not yet saved enough to retire comfortably," said Catherine Collinson, CEO and president of the Transamerica Center for Retirement Studies, of the research.

More from Personal Finance: Why Americans are contributing more to their 401(k)s Social Security narrows wealth gap but many retire in poverty New parents can take penalty-free early retirement withdrawals

But a September survey from personal finance website NerdWallet found that today's retirees stop working at age 59, on average.

That's much earlier than when experts generally recommend retiring. For one, Medicare eligibility doesn't generally kick in until age 65. What's more, full Social Security retirement benefits are now starting as late as age 67, depending on your birth year.

NerdWallet's survey found that some of those retirees 36% said they didn't have a choice as to when they retired. Moreover, 18% said they had to stop working because of their health, and 9% said a job loss forced them into retirement.

Right now, you're probably saving as if you will be the one deciding when you retire. You may not have to retire unexpectedly early, but you should save as if you may have to.

If you're in your 20s, putting more money away now means that you will have to save less over time, noted Arielle O'Shea, investing and retirement specialist at NerdWallet.

Even if the idea of retirement itself doesn't motivate you, the flexibility that having those funds will give you should.

"You're giving yourself options," O'Shea said, including the ability to pursue a different career if you choose to.

If you're in your 30s or 40s, do not get discouraged, O'Shea said.

Take advantage of any changes to your expenses, such as children switching from private day care to public school, to invest that extra money toward your retirement.

Bottom line: "Save as much as you can," O'Shea said.

One thing all retirement savers should do: calculate how much you need to save for based on multiple retirement ages. Non-retired survey respondents most commonly said they expect to retire between 60 and 66.

By moving your target retirement date higher and lower, you can see how that changes your retirement savings targets, O'Shea said.

"Americans aren't saving enough for retirement, and we're hoping to open their eyes about that and do whatever they can to boost those numbers," O'Shea said.

NerdWallet's online survey was conducted by the Harris Poll in July. It included 2,027 individuals ages 18 and up, 1,605 of whom are not currently retired.

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The retirement savings blind spot you don't realize you have - CNBC

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Why the Bears will miss Kyle Long on and off the field –

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Kyle Long's retirement is a stark reminder of how much he's meant to the Bears

Maybe the craziest Kyle Long fact of all is that his football career started because he was tired of stocking the shoe room.

That was 10 years ago, and Long was 21. Then, playing at Saddleback College in California, not only did he switch from defensive end to guard(which Im sure never comes up in the Long household), but he picked it up so effortlessly that Pac-12 powerhouse Oregon offered him a scholarship after one season of JuCo ball. Playing on the offensive line against D-1 talent for the first time, Long started six of 12 games for the Ducks before being taken 20th overall in the 2013 NFL Draft.

But anyways, hows your early-20s hobby going?

We think the world of [Long], Ryan Pace said at the Bears end-of-season press conference. Its unfortunate hes had a handful of injuries. Hes tried to battle through all of them.

Those injuries are why, 10 years later, Long is hanging it up. Turns out, theres not a whole lot of individual accomplishments left after earning three different Pro Bowl selections and a spot on the team-sanctioned Top 100 Bears of All-Time list.

Unfortunately -- not to mention unfairly its his time spent off the field thatdominatesthe conversation these days. Long played 16 games only twice (2013 and 2015 seasons)and hadnt played in more than 10 since 2015. His labrum, triceps, foot, ankleand shoulder all failed him at one point or another along the way, and the collective toll outweighed another grueling offseason of rehab.

"Some Chicagoans are probably happy to hear I'm finally stepping away and getting my body right," Long tweeted. "Some Chicagoans may be sad to hear this. Either way u feel about it, I want u to know how lucky I am to have spent time in your city. I became a man while playing in Chicago. Thank you."

The end of Longs career was objectively hard to watch; you dont often see someone getting placed on IR after playing a full game just days before. But like Long tweeted, the writing was on the wall. At his peak, though, Long was not only one of the best players on the Bears, but one of the premier offensive linemen in football. According to Pro Football Focus, he graded as an elite or above-average NFL starter in every year from his rookie season in 2013 through 2017.

Hes also entertaining as hell, bringing his energy to both Halas Hall and The Web. The Bears locker room isnt short on vocal leaders anymore, but it was Long who stood up and talked for teammates while the team limped to various third- and fourth-place finishes in the NFC North. This past summer, in the span of a month, Long got kicked out of practice for fighting AND went full-frontal (accidentally, which cannot be stressed enough) on Tarik Cohens Instagram without so much as one preachy column about Athletes These Days.

Hes also more Logged On than his brother, retired NFL star Chris Long, which is arguably more of an accomplishment than the Pro Bowl at this point. The way Kyle used Twitter to hint at his retirement was a master class in content creation. Hes got a future in media should he want it.

As for Long's on-field abilityat his peak, fellow O-lineman Charles Leno Jr.summed it upbest.

"I told him I've seen how dominant he was, Leno said after the Bears put Long on IR. Literally seen him pick 350-pound guys up off the ground. That's really hard to do if you guys don't know. He would do that consistently. It just really sucks because I remember what he used to do and I just wanted to always get him back there.

The 2020 NFL draft will be here before you know it. The Senior Bowl gets underway with practices beginning on January 20, and the NFL Scouting Combine will follow soon after from February 23 to March 2. Add in a slew of college pro days, and it's draft weekend.

Free agency will play a big part in which positions the Bears target with their two second-round picks, but the way the 2020 draft class is looking right now after the slew of underclassmen declarations, there are two positions that may make the most sense for GM Ryan Pace: quarterback and tight end.

This year's quarterback class will feature several first-rounders, including LSU's Joe Burrow, Alabama's Tua Tagovailoa and Oregon's Justin Herbert. Other prospects like Utah State's Jordan Love and Oklahoma's Jalen Hurts have also received some first-round praise. But that doesn't mean Chicago won't have a chance to land a promising player with starter's upside at picks 43 or 50.

Washington's Jacob Eason, for example, is a prime candidate to come off the board in the early portion of Day 2, and with Mitch Trubisky's status as the team's starter in 2020 on shaky ground, it's an absolute necessity that Pace add a prospect to the roster from this year's class.

Whether he pulls the trigger on a quarterback in the second round is anyone's guess, but if he does, Eason would be hard to pass up. Here's how The Draft Network broke down his game:

Eason has a cannon for an arm and projects best into an aggressive vertical passing offense to take advantage of his arm talent to the deeper levels of the field.

He'd bring that touchdown-to-checkdown mentality that Matt Nagy has preached to Trubisky, who has yet to look like anything resembling a consistent NFL starter.

Quarterback won't be the only focus for Pace early in the 2020 draft. He has to fix the tight end position too, and the recent decision by Notre Dame's Cole Kmet to declare for the draft was great news for the Bears.

Kmet will jockey for the right to be this year's top tight end prospect throughout draft season. But even if he earns that title, he probably won't be a first-round pick. The top tight ends in the 2020 class are clustered together as early second-rounders, which, again, is fantastic for the Bears.Chicago can upgrade from Trey Burton and Adam Shaheen with one pick, and Kmet could be that guy.

Kmet's skill set as a receiver, whileoffering the baseline minimum as a run blocker, make him an every-down player who could eventually do for the Bears what many of the league's more reliable tight ends do for their offenses. He'd be a massive upgrade over anyone Chicago fielded in 2019, and that includes Burton.

If the Bears were able to come away from the second round of the 2020 NFL draft with Eason and Kmet, the offense would at least have a candidate to start immediately next season and a much-needed prospect at the game's most important position.

And that would be an absolute win.

The 2020 NFL offseason is already underway for the Bears, but the real fun won't get started until March when free agency officially kicks off.

Here are some key dates to circle on your calendar if you plan on tracking what general manager Ryan Pace does over the next few months:

Pace will have some difficult decisions to make between March 16 and 18, and some of those decisions will involve the futureof current Bears players.

Here's the list of current Bears who are scheduled to become unrestricted free agents, per Spotrac:

The good news for the Bears is there are only a few names on this list who warrant serious consideration to be re-signed. Kwiatkoski, Trevathan, Williams and Clinton-Dix immediately come to mind, but McManis and even Daniel deserve some attention. It isn't easy to find a special teams player as productive and selfless as McManis nor is it a simple task to land a backup quarterback who can serve as a coach and mentor without a starter's agenda.

The most likely scenario to unfold this offseason is this: Pace will identify two of the Bears' unrestricted free agents as priorities (my guess would be Kwiatkoski and Clinton-Dix) and will do everything in his power to re-sign them before March 16. He'll allow the market to dictate the terms for Trevathan and Williams; if their contract offers from other teams are reasonable and Chicago can offer the same terms? Maybe the hometown club gets the nod.

Pace acted swiftly to extend safety Eddie Jackson last week, and there's no reason to believe he won't (or shouldn't) do the same with wide receiver Allen Robinson. Then it'll be time to turn his attention to the team's players who are ready to cash-in on the open market before getting raided by clubswith more money and bigger needs.

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2 New Retirement Abroad Authorities Issue Their Best Places to Retire Abroad in 2020 – Forbes

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Thinking of retiring abroad in 2020? Have you seen these headlines in recent months? Death Toll in Chile Protests Since October Rises to 27, Nicaragua Has a Simple Message for Protesters: Dont, Thousands Flee to Shore as Australia Fires Turn Skies Blood Red," Hong Kong Protesters Return to Streets as New Year Begins, Strike Bites French Economy and Seven Days of Unrest and Counting: Thousands Stream Into Ecuadors Capital.

On the face of it, the news about these protests, strikes and fires might seem enough to keep you firmly planted in the United States for retirement (we never have such problems here, right?). But the truth is, no place in the world is immune from altercations or natural disasters. So, if you are considering retiring abroad, keep that in mind. Better yet, do your homework to learn about the pros and cons of potential locations.

One way to start is by poring through the Best Places to Retire Around the World lists just out from International Living (The Worlds Best Places to Retire in 2020, which ranks 24 countries) and Live and Invest Overseas (Worlds Top 10 Retirement Destinations for 2020), the two colossals on the subject. Both crunch numbers for key factors ranging from cost of living to health care to climate, though they often come up with different places.

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For 2020, however, both lists cite Portugal as No. 1; Live and Invest Overseas lists cities or regions, so its winner is actually the Algarve area of Portugal, for the fifth year running and its now tied with Mazatln, Mexico.

Another way to prepare for retirement abroad is to read stories with advice about such relocations; Next Avenue has published a bunch, and theyre noted at the end of this post.

Dan Prescher, an International Living editor who lives with his wife Suzan Haskins in Merida, Mexico, notes that his publications reporters around the world factor in safety when producing their annual rankings. If a correspondent feels a place is not safe or secure, theyll tell us, he says.

So, protests aside, International Living believes its Top 10 places to retire abroad for 2020 five in Latin America and Mexico; three in Europe and two in Asia are safe for American expats. Two of them werent in its Top 10 in 2019: France and Vietnam (theyve replaced Peru and Thailand).

1. Portugal

2. Panama

3. Costa Rica

4. Mexico

5. Colombia

6. Ecuador

7. Malaysia

8. Spain

9. France

10. Vietnam

The Live and Invest Overseas Top 10 list for 2020 (five in Latin America and Mexico, four in Europe and one in Asia):

1. Algarve, Portugal

2. Mazatln, Mexico

3. Cuenca, Ecuador

4. Valletta, Malta

5. Citt Sant Angelo, Italy

6. Ambergris Caye, Belize

7. San Ignacio, Belize

8. Bled, Slovenia

9. Medellin, Colombia

10. Chiang Mai, Thailand

"Many of the new destinations are not well-known and not yet on the mainstream radar," says Kathleen Peddicord, author and publisher of Live and Invest Overseas, about her list.

One reason Portugal rose to the top of the International Living list this year is that this ranking organization changed the way it scored countries for climate. Countries with a range of climates were given more weight than just ones that are warm all-year-round, says Prescher.

Portugal also doesnt seem to be going through the flips and twists that a lot of European economies have been going through," Prescher adds. Its incredibly affordable and not a basket case. Portugal received the best International Living score for Housing, Health Care and Climate of all 24 countries ranked.

International Livings Portugal correspondent, Tricia Pimental, says Portugal is the second least expensive country in Europe, after Bulgaria. Pimental and her husband spend about a third of what they did in the United States, adding that you can live a comfortable lifestyle in Portugal for about $2,500 a month. By contrast, International Livings report says a couple can live in Mexico for $1,500 to $3,000 a month, depending on location.

Panama, No. 2 on International Livings list for 2020, frequently ranks at or near the top of its annual list. This year, it had the top scores in the categories of Retiree Benefits & Discounts, Visas & Residence and Opportunity (how well the local authorities support small business, whether its easy to work remotely and whether theres a strong economy).

Panama made residency a lot easier to get, says Prescher, who describes the country as a very cosmopolitan place and with a government as stable as governments in the Americas get.

He adds: Theyve standardized the amount needed for a retirement visa and an investment visa. It used to be a lot more complicated and costlier. U.S. expats can get the Friends of Panama visa by having at least $5,000 in a Panama bank account, and either buying real estate, starting a business or getting a job in the country.

Frances appearance on International Livings Top 10 for 2020 may surprise you, considering the high cost of living in places like Paris and Lyon. Truth is, the country only scored a 66 out of 100 in the Cost of Living category.

Yes, France can be expensive, but it doesnt have to be, says Prescher. You can live in the countryside very easily. International Livings France correspondent, Tulla Rampont, writes in her Best Places to Retire report that outside of major cities like Paris and Lyon, rent is about a third of what I paid in California and so is my mortgage payment. She manages an English-language school in Toulon, in the south of France.

Prescher offers a word to the wise about retiring to Mexico: Health care is in flux there right now, he says. The country has plans to combine private health care and public health care so everyone has access to the same, affordable health care. But no one knows when that will happen.

That said, according to the new book about boomer retirement in Mexico, The Fun Side of the Wallby Travis Scott Luther, more than a million U.S. citizens currently live in Mexico and the country is the No. 1 nation for American expats. The most popular cities for them: Tijuana; San Miguel de Allende; Mexicali, Ensenada and Chapala. And, Luther notes, Puerto Vallarta, Merida and Tulum are growing fast as expat hotspots.

Luther writes that Americans considering retiring in Mexico need to prepare themselves for a slower pace of life, which has its pros and cons.

A leisurely life may sound great when you decide to bury your watch in the sand and just lay on the beach until you feel like going home, but it might not be so great when you are waiting for someone to come repair your broken shower, Luther says in the book.

Also, Luther notes, for almost all Mexico boomers [from the U.S.], working in Mexico is impossible. Even if they wanted to pursue meaningful employment, they would be locked out due to residency or tax and benefit restrictions.

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Starting A Part-Time Retirement Business Before You Retire – Forbes

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By Leslie Hunter-Gadsden, Next Avenue Contributor


If youre thinking about running a part-time business in retirement, researching and even starting it while youre still working full-time is a smart move.

Its great to see if there is a market for your business while not depending on it for an income, said Phillip Phan, a Johns Hopkins Carey Business School professor as well as an editor on the EIX Editorial Board of the Schulze School of Entrepreneurship at the University of St. Thomas in Minneapolis. (EIX is a funder of Next Avenue.)

Whether youll want to, say, provide a concierge service to care for pets, create craft items or run a nonprofit for a cause you love, getting things going before you retire also offers an opportunity to assess if there is a demand beyond your friends and family, said Kimberly A. Eddleston, a Northeastern University entrepreneurship professor and a senior editor on the EIX Editorial Board.

Mary Pender Greene, a psychotherapist, social worker and career coach, laid the groundwork for incorporating her consulting business in New York City MPG Consulting during her last full-time year as an executive at The Jewish Board of Family and Childrens Services in 2010. She had worked at that nonprofit for 26 years.

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MPG Consulting is committed to ensuring that organizations serving populations of color are prepared to provide transformative culturally and racially attuned clinical, programmatic and administrative services, noted Pender Greene. Between 2010 and 2013, Pender Greene continued working at The Jewish Board in a smaller capacity, roughly six hours a month, keeping a connection to the organization while expanding her consulting firm.

There was never a moment when I thought: Oh, what else am I going to do? I was always thinking about what else I could do, said Pender Greene, author of Creative Mentorship and Career-Building Strategies: How to Build Your Virtual Personal Board of Directors. No matter what, there are always transferable skills.

Having a wide swath of contacts helped Pender Greene grow her consulting practice to a team of roughly 60 diverse consultants with a broad range of experience as coaches, clinicians, trainers and managers.

Launching a business perhaps one to five years before retiring from your current one provides the chance to test the market for your product or service. By starting a business before you stop working, you can see what your time commitment will actually be. It will help you to understand what your actual day would look like once you are doing it full-time, said Eddleston.

Pender Greene agrees. When youre thinking about leaving your current job, you need at least a year to plan before you leave, she said. A part of what makes it successful during the transition is to keep your focus open. If you hold on too tightly to a goal, you might not see the new opportunities.

Also, said David Deeds, Schulze professor of entrepreneurship at the University of St. Thomas, and EIX executive editor, You need to really take the time to do your research getting feedback from potential customers.

If youll be test marketing a new business while fully employed, there are two things to keep in mind:

For one, make sure theres no conflict of interest between your idea and what you do for your current employer. You dont want to be accused of stealing intellectual property.

Sometimes, this just means having a conversation with your employer ahead of time, noted Phan.

Youll also want to learn your states tax reporting requirements for small businesses. Work with an attorney and accountant, said Phan.

Taking these steps to slowly roll out your business idea lets you find out if what you want to do provides the profit margins that you need. You want to fail early and cheap, without putting your retirement savings and investments at risk, said Deeds.

(This article is part of Americas Entrepreneurs, a Next Avenue initiative made possible by the Richard M. Schulze Family Foundation and EIX, the Entrepreneur and Innovation Exchange.)

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Starting A Part-Time Retirement Business Before You Retire - Forbes

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Heres What Happens If You Go Over the Limit for Retirement Contributions – Lifehacker Australia

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When you first start saving for retirement, you might think youll never get to the point where you can max out your annual contribution. But perhaps your income has leveled up significantly since then, or youve prioritized saving for retirement. You might see yourself approaching that annual $19,500 limit for your 401(k) or $6,000 for your IRAs.

May as well throw in a little more, right? Not so fast. Saving for retirement is sort of like playing The Price is Right: You want to get as close as possible without going over.

Want to know what happens if you do? (Heres a hint: Youre going to lose some of that money.)

First, exceeding your contribution limits for retirement accounts doesnt usually happen. If you have one retirement account, your risk of exceeding the limit is very low, since the firm that manages your plan will keep an eye on your contributions for the year. But if your finances are more complicatedperhaps you have a few different retirement accountsyou may need to pay more attention.

The biggest cause of this is when the taxpayer switches jobs during the year and essentially has two retirement accounts that are not being monitored to the annual limit, said Mike Savage, CPA and founder of 1-800Accountant. If they only have one retirement account, usually the financial institution will make [them] aware of the excess contribution, he said.

Another way you can get stuck in this situation is when you hit an income limit for your retirement account, like a Roth IRA. Maybe you fully funded your Roth for the year, but were also eligible for an employer-sponsored plan. Most people that end up with an excess do so because its hard to measure where the income will be at the end of the year, said Amin Dabit, director of advisory service at Personal Capital.

If you go over the limit for your retirement account, the IRS is not going to let you skate by unnoticed. You need to remove the excess from your account as soon as possible, or youll pay an excise tax penalty of 6%.

If you can remove the excess contribution before you file your taxes, you wont have to pay the 6% penalty. You will, however, have to report it as income (which means it will be taxed) and youll probably have to pay a 10% penalty for early withdrawal from your retirement account.

You might be tempted to just leave the money there and take a 6% penalty over a 10% one. But it doesnt actually work that waythat 6% doesnt go away if you dont make amends. The IRS will impose a 6% IRS excise tax penalty for every year that amount remains in the account, Dabit explained.

If your retirement account is through your employer, youll have to ask them to pay back the excess deferral to you, including any earnings on it, said Caleb Silver, editor in chief of Investopedia. If youve already received a W2 from your company, theyll need to then provide an amended one.

You can also file an amended tax return; you can avoid the penalty if you remove the excess and refile by the October extension deadline.

Pay attention to your earned income, modified adjusted gross income, and the annual contribution limits, Silver said. Keep track of any contributions youve already made for the tax year, and be sure you allocate to the correct year any contributions you make between January 1 and April 15.

If you think the upcoming year is going to be unusually robustmaybe youre expecting a raise or a bonus you want to put toward retirementyou can contribute toward last years limit now to avoid an issue after your income (and your contribution) increases. One of the best ways to avoid contributing too much is to discuss with a tax advisor and look to make a contribution for the previous year at the same time you file taxes, Dabit advised.

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Heres What Happens If You Go Over the Limit for Retirement Contributions - Lifehacker Australia

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Radio Legend Mike Rhyner Announces His Retirement From The Ticket – Dallas Observer

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Former Pittsburgh Steelers coach Chuck Noll was a hard-ass. He transformed his team from an NFL punchline into a powerhouse. He was known to chew out players after terrible games and inspired the kind of respect that would lead his team to four Super Bowl wins, two of them against the Cowboys.

Noll wasnt one to mince words. Whenever a player was too old and broken for the game, the Hall of Fame coach would call him into the office and tell him that it was time for him to go find his life's work. It's a story, a legend, really, people in Pittsburgh hold dear to their hearts, much like the image of former Cowboys coach Tom Landry's stoic sideline figure still inspires a legion of older Cowboys fans. It's a tale Texas Radio Hall of Famer Mike Rhyner told in his farewell video to The Ticket fans on Monday.

Rhyner, 69, announced his retirement from The Ticket in a video he posted online and shared on his Twitter account. He leaves behind a 40-year career in sports radio and a legion of disheartened fans.

I dont have to find my lifes work, he said in the video. This has been it, and I am damn proud of it, and I thank you, The Ticket listener, more than I can tell you.

Danny Balis, a Dallas musician who's worked with Rhyner since 2000, was as surprised as everyone else when he found out last week. Mike is a total pro, one of the smartest people I've ever met, and has such an oddball goofy sense of humor, he tells the Observer. I knew I was working with a legend, and I never took it for granted.

A Southwest Oak Cliff native, the "Old Grey Wolf," also known as "The Godfather," Rhyner didn't set out to become The Tickets version of Reggie Jackson (as he's referred to in the book The Ticket, Full Disclosure by Scott Boyter). He was a drummer in search of a rock n roll band.

Rhyner began gigging in bands when he was 15 in the 1960s, jamming at gigs in Abilene, Tyler and Wichita Falls. My parents thought this was a folly that would pass, but as it happened, I was able to make a little money at it, and they surely liked that idea, Rhyner recalled in Boyter's book.

After 15 years of jamming, he decided to set aside his drumsticks and return to school for radio broadcasting at the University of Texas at Arlington. When he was a kid, hed been a fan of the magic Russ Knight, The Weird Beard, who would spin on KLIF.

Ive never been able to put my finger on it, but radio was always magical to me, Rhyner told the Observer in January 2006.

In the late70s, he landed a radio gig as a news intern for The Zoo KZEW, but longed to do sports radio. He eventually got his chance at The Zoo and stayed with the station until 1986 when it closed its doors.

Six years would pass before he hatched the idea of an all-sports station with his friend Geoff Dunbar. They were watching the 1992 Duke-Kentucky basketball game when they came up with the idea. It wasnt an original idea for Dallas. Local icons Brad Sham, Norm Hitzges and Randy Galloway were doing sports talk shows. But no one was operating a 24-hour all sports station.

Two years later, The Ticket hit the airwaves.

Anybody that tells you we werent strongly influenced by Howard Stern, well, fold up your notebook and go home, because theyre lying, Rhyner told the Observer. We knew we wouldnt sound like the other guys in the market.

Or as D Magazine pointed out in a January 2014 profile: Early listeners found someone more than sports on The Ticket. They stumbled upon a fledgling community of off-the-wall personalities whose stories, bits and observation on everything from football to the trivial frustrations of everyday life struck a chord.

Like Sterns popular radio show, Rhyners The Hardline program on The Ticket has had its fair share of controversy. His co-host Greg Williams resigned in early 2008 after a 13-year relationship with the program. He walked off in mid-syllable and checked into a drug rehab, as the Observer wrote in a July 3, 2008, cover story.

Then 105.3 The Fan tried to steal it away from The Ticket, but Rhyner decided to keep the show on the 1310 AM airwaves in an 11th-hour contract agreement after station owner Cumulus Media presumably forked over more cash.

It was close, very close, Rhyner told the Observer in February 2009. The Fan made a really strong run at us. I mean, really strong.

Rhyner has won numerous awards over the years as part of The Hardline lineup, including ESPN Sports Radio Personalities of the Year on several occasions. He was able to move on from the loss of Williams with Corby The Snake Davidson, a Fort Worth native who received a beating from fans when he first slid into Williamsstill-cooling co-host seat.

In 2014, Rhyner was inducted into the Texas Radio Hall of Fame.

Over the last 30 years, Rhyner had become the "Weird Beard" for The Ticket fans and was called the voice of the radio station. His legion of fans 90,000 followers on Twitter alone would tune in to hear the Old Grey Wolf howl from 3 to 7 p.m. daily.

When he decided it was time to step away from the mic, Rhyner didnt pull a page from Jerry Jones How to Fire a Coach playbook and drop hints about it in the press or hold a news conference. He simply uploaded a video online where it wasnt open to interpretation or spin by the media.

Here youre getting it straight up from me, he said in the video. Were on vacation right now. Happens every year at this time. January rolls around, and we go back. We attack the new broadcast year. That will be the case this year as well with one difference. And that difference is, I wont be there. Its time for me to step away from the gig at The Ticket.

Tributes to Rhyner poured in from Dallas media, and The Kessler changed its marquee to read: Stay hard Rhyner. The lil Ticket. Hell of a run.

Fans were quick to post their responses on social media.

Legions are going to miss the hell out of you, one fan wrote.

Been home sick all day. Jump on Facebook to find out a big part of my teenage years, early adulthood and current adulthood is gone, wrote another fan.

Former Dallas Cowboys quarterback Troy Aikman tweeted, Listening to @dfwticket and hearing Mike Rhyner make the announcement that hes moved on to the next phase of his life. Like many, my afternoons of listening to The Hardline wont be the same. Youve given us so many years of radio gold. A heartfeltthank youto @theoldgreywolf.

Balis can recall nearly all the pranks they pulled on Hardline, but Alarmgate is the one that immediately comes to mind. He and Davidson broke into Rhyner's hotel room and stashed 12 battery-operated alarm clocks around his room. They set the alarms to go off 30 minutes apart starting at 3 a.m.

We stood outside their room all night and listened to the frantic chaos unfold, he said. None of us got any sleep that night, but it was worth it the next day on the air.

Now that Rhyner is gone, Balis isn't sure what will happen to the show.

The bench is deep at the station, he says. It's gonna be weird for a while, and I have no idea what the brass will ultimately decide. But we'll roll with it and work as hard, or harder than we ever have.

The Old Grey Wolf Mike Rhyner, pictured here presenting an award at the 2019 Dallas Observer Music Awards.

Mike Brooks

Christian McPhate is an award-winning journalist who specializes in investigative reporting. He covers crime, the environment, business, government and social justice. His work has appeared in several publications, including the Dallas Morning News, the Fort Worth Star Telegram, the Miami Herald, San Antonio Express News and The Washington Times.

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Radio Legend Mike Rhyner Announces His Retirement From The Ticket - Dallas Observer

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Adjusting To Retirement: The Value Of Maintaining Continuity – Forbes

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It should be easy stop working and go play. But its not. We live in a work-driven culture, and so work is in our DNA and retirement is antithetical to who we are. Social scientists have come up with three theoretical models that together explain why retirees experience emotional upheaval in making the transition, and they provide an interesting perspective on how we move from one life stage to another.

Over the next 3 articles, Ill review each of these Continuity Theory, Life Course Perspective, and Role Theory. In this article, Ill go through the first, Continuity Theory.

Continuity Theory focuses on the role that consistent patterns play in our ability to adapt to change. Continuity refers to having situations or conditions that remain the same as we move from one life stage into another. Friendships outside the workforce, hobbies, and other non-work activities can provide continuity when you retire thats the stuff you take with you when you leave a job.

When we maintain continuity, were less affected by a drastic change in our lifestyle. The elements in our lives that remain in place means we can carry on with some familiar patterns and routines.

Continuity is a matter of quantity, that is, the more elements that are retained the less one is affected by a lifestyle change. Its also a matter of quality. The greater the personal value of the retained elements, the more helpful they are in a transition. For example, if a retiree has especially strong family ties, the fact that these ties are still available in retirement makes them a very good source of continuity.

Retirees can retain some degree of continuity by holding on to co-worker friendships, especially in the early stages. Also from a social perspective, continuity can be preserved through non-work relationships, including friends, a spouse or significant other, and other family members.

Other ways of maintaining continuity include leisure activities, hobbies, and other activities retirees practiced in their spare time outside of work. Retirees might find that starting hobbies or some other activities before retiring, and having them to go to after retiring, can make the lifestyle change feel less intense.

Some retirees may experience only a minor loss in continuity upon leaving their jobs, most likely because they have many interests and strong personal relationships outside of work. However, it is likely that for retirees to feel truly adjusted, from a continuity perspective, a critical mass of lifestyle elements has to be retained.

Unfortunately, this may be an unrealistic expectation. In retirement, it may be difficult or even impossible to find enough activities that provide the same types and amounts of benefits as ones career does. And for retirees whose social life is completely tied to work or whose interests outside of work are especially limited, they can feel a drastic loss in continuity, making the adjustment to retirement especially difficult.

Shortfalls in continuity may explain why many retirees take bridge jobs. These jobs usually include shorter working hours and some degree of control over tasks. They can smooth the transition into retirement by providing a sense of purpose and productivity, but still allow retirees to consider themselves retired. The fact that these jobs are becoming more prevalent suggests that many retirees havent enough meaningful elements in place to achieve the continuity they need to feel comfortable in their new life-stage.

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Adjusting To Retirement: The Value Of Maintaining Continuity - Forbes

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January 7th, 2020 at 6:47 pm

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Ballet Memphis CEO Dorothy Gunther Pugh to retire after 34 years with the organization – Commercial Appeal

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This story originally referred to Ballet Memphis as a dance school. It has been corrected to refer to is as anorganization.

Ballet Memphis CEO and founding Artistic Director Dorothy Gunther Pugh is retiring this year, effective Jun. 30. Pugh announced her retirement after 34 years with the organization.

Pugh founded Ballet Memphis, located at 2144 Madison Ave., in 1986 with two dancers and a $75,000 budget.

The organizationgrew over the years and now has a company of 21 dancers and a four-million-dollar budget. It also performs a full season in Memphis and tours nationally and internationally.

October 13, 2014 - Ballet Memphis Choreographer Steve McMahon (left), Art Director Dorothy Gunther Pugh, and Ballet Mistress Tamara Hoffmann watch as dancers rehearse "Flyway" one of the pieces in this year's "River Project:Moving Currents" which starts Saturday night at Playhouse on the Square.(Photo: Jim Weber)

We do not serve the ballet world or our personal careers," Pugh said in a news release announcing her retirement. "We must use our glorious art form to see and hear others, celebrate, and problem-solve together. We must learn to live as one humanity, knowing there is enough love and its real power of kindness to carry forward for all.

Ballet Memphis opened a new $22-million administrative headquarters for rehearsal and performance in Midtown in 2017.The building houses the Ballet Memphis school, Pilates Centre at Ballet Memphis, Ballet Memphis Professional Company and Youth Ballet Memphis.

Ballet Memphis founder Dorothy Gunther Pugh talks about the ballet's new headquarters which is under construction at the corner of Madison and Cooper in Overton Square.(Photo: Jim Weber)

My hat is off to the amazing Dorothy Gunther Pugh," Dance Theatre of Harlem Artistic Director Virginia Johnson said in the release. Her prescient vision for a ballet company that reflects its community, honors tradition and invents a dynamic future continues to inspire. Through determination and love, she has created a model for companies across the country to emulate.

Dorothy Gunther Pugh(Photo: Submitted photo)

In May 2019, Pugh named Steven McMahon as Artistic Director. McMahon began with Ballet Memphis in 2004 as a dancer and created more than 30 works under Pugh's guidance.

Current Director of Finance and AdministrationCarol Miragliawill add interim director to her roles while the board of directors completes a national search for a permanent replacement.

Alexa Imani Spencer covers suburbs and breaking news for The Commercial Appeal. Reach her atalexa.spencer@commercialappeal.comor 901-304-9740. Find her on Twitter: @AlexaImani

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Ballet Memphis CEO Dorothy Gunther Pugh to retire after 34 years with the organization - Commercial Appeal

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January 7th, 2020 at 6:47 pm

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Planning to Retire in 2020: A Complete Guide – The Motley Fool

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Many of us look forward to it for decades -- retirement! Work can be pleasant or even fun, but it's exciting to think of when we can stop working and enter our golden years, perhaps even achieving an early retirement, if we made smart personal finance decisions and met our retirement goals.

If your retirement is here or around the corner, you need to read up on a bunch of retirement-related topics, so that you can make smart moves that keep costs down and let your nest egg last as long as possible.

Image source: Getty Images.

The following topics are covered below:

Let's start with healthcare costs, as they're easy to overlook and failing to plan for them can lead to disaster in retirement. Also -- they tend to be steep. One estimate, from Fidelity, is that a 65-year-old couple retiring this year canexpect to spend, on average, a total of $285,000 out of pocket on healthcare throughout their retirement, and that doesn't even include Medicare or long-term care costs. (Fidelity suggests that a 35-year-old couple can save that much by socking away $2,820 in a Health Savings Account (HSA)annually for 30 years, earning a 7% average annual return.)

Other estimates are even harsher: The folks at HealthView Services, for example, have suggested in a 2019 report that the average healthy 65-year-old couple retiring in 2019 willspend $387,644 on healthcare in retirement -- on Medicare, supplemental insurance policies, and other out-of-pocket costs.

Fortunately, there are ways to try to shrink your healthcare costs, such as by being as fit and healthy as possible and seeing your doctor for preventive screenings and care.

You can also make use of Flexible Spending Accounts (FSAs), which let you sock away up to $2,750 (for 2020) on a pre-tax basis to be spent on qualifying healthcare expenses, such as eyeglasses, dental care, certain medications, and doctor visits. The only catch is that most of that money is in the account on a use-it-or-lose-it basis. The aforementioned Health Savings Accounts are even better, as unused contributions aren't forfeited. Instead, they can remain in the HSA account and can even be invested -- and in retirement, they can be withdrawn penalty-free to be used for anything (though the money will count as taxable income). The HSA contribution limit for 2020 is $3,550 for individuals and $7,100 for families, with those 55 and older able to contribute an additional $1,000. To be able to participate in an HSA, you'll need to have a qualifying high-deductible health insurance plan.

It's also smart to read up on Medicare, as it offers a lot of great coverage beginning at age 65. Don't be late to sign up, though, or you may be charged extra for it for the rest of your life.

It's important to factor inflation into your retirement planning. After all, if your retirement is 20 years away and you aim to save $1 million for it, that $1 million won't have the same purchasing power in 20 years as it does today.

Over long periods, inflation has averaged about 3% annually, though in some years it can be much higher or lower. That kind of rate can shrink the buying power of your dollar roughly in half over 25 years. Here's how you might include inflation into your planning: Let's say still 20 years from retirement and you think you could live on the equivalent of a current $50,000 income in retirement. You could take the number 1.03 and raise it to the 20th degree -- by punching buttons such as 1.03 ^ 20 on your calculator -- getting 1.81. Then multiply $50,000 by 1.81, getting $90,306. That's the actual income in 2040 that would have a similar purchasing power as $50,000 in 2020.

You might combat the effects of inflation by holding a lot of dividend-paying stocks, because those dividends tend to be increased from year to year, helping you keep up with inflation -- and the stock price of the stocks themselves is likely to rise over time, too. If you have, say, $100,000 invested in dividend payers with an overall average yield of 3%, you'll receive $3,000 in dividend income this year. If those payouts grow by an annual average of 5%, in 10 years they will be generating close to $4,900 per year. Other ways to fight inflation include investing in Treasury Inflation-Protected Securities (TIPS) bonds, which adjust their interest rates to account for inflation, and buying annuities with inflation-adjustment features built in.

Image source: Getty Images.

It's vital to know how much income you can expect from Social Security, as for most people, it will make up a big chunk of your retirement income. For context, know that the average monthly Social Security retirement benefit check wasrecently $1,478, or about $17,700 per year. Clearly, that's not going to be sufficient for most people, and that's why you need to start planning, saving, and investing as early as possible. That's just an average, though -- if you earned an above-average income over your working life, you'll collect more. The maximum benefit for those retiring at their full retirement age wasrecently $2,788, or about $33,500 per year. (Note that Social Security benefits include regular inflation adjustments.)

To get a better idea of how much you can expect to receive, head over to the Social Security Administration (SSA) website and set up a "my Social Security" account. Once you do, you can click in any time, to see the SSA's record of your earnings, year by year, and to see its estimate of your Social Security benefits, based on when you claim them. You can claim your benefits as early as age 62 and as late as age 70, with your checks getting smaller if you claim early and larger if you delay. But remember that if you start collecting your Social Security benefits at age 62, your checks might be on the small side, but you'll get many more of them than if you start at age 67 or 70.

Most of us have a "full retirement age" of 66 or 67. The table below shows how much of your full Social Security benefits you'd get if you start collecting at various ages:

Start Collecting at:

Full Retirement Age of 66

Full Retirement Age of 67




























Source: Social Security Administration.

If you don't like the expected benefits you're seeing for yourself, know that there are various ways to increase your Social Security benefits. For example, the formula to determine benefits is based on your earnings in the 35 years in which you earned the most. So if you only worked for 31 years, it will be incorporating four zeros, which will bring down your benefits. If you can work a few more years, you'll end up with bigger checks. Even if you've already worked 35 years, if you're earning much more now than you ever did, by working an extra year or two, you'll be able to have a few years' worth of low incomes kicked out and replaced by higher incomes.

A little coordinating with your spouse, if you're married, can also boost the total sum you both collect from the program.

Now let's look at a few scenarios -- the best-, middle- and worst-case ones if you're planning to retire soon. In the best-case scenario, you'll have saved enough money with which to retire comfortably, a sum that will provide enough income throughout your retirement. What's enough? Well, how much money you need to retire with differs for different people, as it's based on your health, your expected longevity, your lifestyle, your location, and more.

If you're trying to determine how much money you need to retire with, try thinking about it in terms of annual income instead of a big blob of cash. One rule of thumb is that in retirement, we should aim to live on 80% of our pre-retirement income. That's a rough guide, though. If you expect to be much more active post-retirement than pre-retirement, perhaps doing a lot of international travel, you may need more. Similarly, if you suspect you might be in poor health and may require a lot of costly care, you may need more. If, instead, you expect to be mostly gardening, walking, and reading, you could get by with less.

Consider all your sources of income, and remember that you may be able to add more sources, such as some passive income. Typical sources of income for many people include Social Security, pension income, dividend income, interest income, annuity income, and rental property income. If you determine that you'll need $60,000 annually in retirement and you expect $25,000 from Social Security and $15,000 from annuities, that leaves $20,000 in needed income. You can invert and use the 4% rule to convert that into a needed nest egg by multiplying it by 25. (That's because dividing 1 by .04, or 100 by 4, results in 25.) Doing so gives you $500,000.

A more likely scenario for many people is that they approach retirement with almost enough money. If that looks like you, what can you do? Well, you have some options. A good one is simply delaying retirement and continuing to work at your current job. That offers several benefits:

You might also try semi-retiring for a few years. See if you can cut back the hours you work at your current job, perhaps to half-time. Or go ahead and retire from that job, but generate some income on the side via a side gig or two. There are lots of side jobs you might try, such as driving for a ride-sharing company, selling handicrafts online, tutoring kids, pet-sitting, or freelance work.

Image source: Getty Images.

In the worst-case scenario, you simply won't have enough money socked away to permit you to retire comfortably. If it's any comfort, you're not alone: Fully40% of workers have saved less than $25,000 for retirement, per the 2019 Retirement Confidence Survey. Yikes.

So what can you do? Well, don't retire now or soon, if you can help it. Try to work at least a few more years than you wanted to, and if you can, work all the way to age 70, at least. That's the age at which your Social Security benefits will stop growing, so you might as well start taking them then. If your full retirement age for Social Security is 67 and you delay starting to collect until age 70, your benefit checks should be about 24% fatter. That can turn what would have been a $2,000 check into a $2,480 one, upping your annual benefits from $24,000 to almost $30,000. Starting to take Social Security benefits at age 70 will also take some financial pressure off you at that point, perhaps permitting you to work less.

Think outside the box a bit, too. You might rent out some space in your home on a long-term basis. If a boarder pays you, say, $600 per month, that's $7,200 in annual income.You might also relocate -- to a smaller, less costly home or to a less costly part of the country.

Speaking of annuities, they're well worth considering for your retirement. A downside of them is that the money you spend to buy them is typically gone and won't be around for you to leave to heirs, but in exchange for that, you can set yourself up to receive regular income for the rest of your life. It's generally best to focus on fixed annuities, which can start paying you immediately or on a deferred basis, at a future point that you specify, while avoiding variable annuities and indexed annuities, as they tend to have more restrictive terms and may not be as good a deal.

Learn more about annuities before buying one, but you can get an idea of the kind of income fixed immediate annuities offer from the examples below.



Monthly Income

Annual Income Equivalent

65-year-old man




65-year-old woman




70-year-old man




70-year-old woman




65-year-old couple




70-year-old couple




75-year-old couple




To get an idea of what a deferred annuity might offer, know that a 65-year-old man would have recently been able to spend $100,000 for an annuity that would start paying him in 10 years, offering $1,138per month for the rest of his life. Deferred annuities are great tools to help you avoid running out of money later in life.

In times of higher interest rates, annuity contracts will offer bigger payouts, and we're currently in a low-interest rate environment. So consider a "laddering" strategy, where you spend just a portion of the amount you want to spend on annuities first, and then spend another portion in a year or two, when you hope interest rates will be higher, and so on.

While most people have not saved enough for retirement yet, and many enter retirement with too little socked away, there's another group of people -- those who have saved and invested aggressively, and who have a sizable nest egg. Those folks may be able to retire early.

If you're among those ranks and hadn't thought of retiring early, give it some consideration. After all, we only live once, and you don't know how long your life will be. You may be able to start collecting Social Security at 62 and retire then (or earlier), with sufficient income on which to live -- including ample contingency funds for healthcare and other possible needs. Early retirees tend to be in better health than later ones, meaning that they're more able to be active and enjoy pastimes such as travel, gardening, golf, tennis, and so on.

An early retirement may be especially possible for you if you're still quite young. By ramping up your saving and investing, you may reach your retirement goals sooner. The table below shows what might be accomplished:

Growing at 8% for

$10,000 invested annually

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Planning to Retire in 2020: A Complete Guide - The Motley Fool

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January 7th, 2020 at 6:47 pm

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This ‘extraordinary’ country is ranked #1 for the world’s best retirement spot – Yahoo Finance

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Portugal wins the top spot for the best destination to retire abroad, according to a newrankingby International Living.

Retiring in a foreign country is alsogrowingin popularity. The number of retirees collecting Social Security checks outside of the U.S. surpassed 400,000 in 2017, according to recentgovernment data.

Those looking to spend their golden years overseas will enjoy the countrys mediterranean climate, sandy beaches, and seafood cuisine, the magazine points out.

The quality of life in Portugal is really extraordinary today. I think people have this perception that it costs a lot to live in Europe because maybe they go on vacation there and they think that it's going to be really expensive to live there, Jennifer Stevens, International Livings executive editor, toldYFi PM.

But it's surprisingly affordable when you live like a local, she added.

International Living ranks the best places to retire abroad in 2020.

Compared to life in the United States, International Livings Portugal correspondent Tricia Pimental spends roughly one-third less on expenses in Portugal. She noted that you can live a comfortable, although not extravagant, lifestyle for about $2,500 a month.

Panama came in second place on the list, followed by Costa Rica, Mexico, and Colombia. The ranking factors in elements like the cost of living, retiree benefits, and health care.

Stevens explained that Panama is a great option for those concerned about building a nest egg for a long retirement in the U.S. The Central American nation has a great infrastructure and network of hospitals, she said.

A survey crowns Portugal as the best place to retire in 2020. (Courtesy: Getty)

You can rent a place with a view of the water for $1,500 or less a month in the city and then if you want to be out on the beach, even less than that, she added.

McKenzie Stratigopoulos is a producer at Yahoo Finance. Follow her on Twitter:@mckenziestrat

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