The retirement income needs for women are similar to those that apply to men; however, there are some factors that make it more challenging for some women to achieve their retirement planning goals and objectives, particularly in the area of finance.

SEE: Retirement Planning

Longer Life ExpectanciesWhile living longer is definitely a plus for many individuals, it adds to the risk of outliving one's retirement savings. This is of a greater concern for women, who statistically live longer than men. According to a report by the National Center for Health Statistics, the life expectancy at birth for a man is 75 years, whereas it is 80.9 years for women. The same report indicates that the life expectancy for men at age 65, which is a generally accepted retirement age, is 17.6 years for men and 20.3 for women.

A three to four year difference in life expectancy may not seem like much, but when the cost of medical expenses during retirement is considered, along with other living expenses, the cost of living for a few years can be relatively high. According to a recent Fidelity report, "A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover medical expenses throughout retirement," if they are not covered by an employer medical coverage plan.

Women can manage these and other retirement living expenses by planning ahead and implementing practical solutions to saving for retirement.

Determine How Much Is Needed to Finance Your RetirementWhile there are no guarantees on how long you will live. Your health status and the lifestyle that you will actually live during retirement can be used to make reasonable assumptions about how much you will need to finance your retirement years. Ideally, you should work with a financial advisor who is able to prepare a comprehensive analysis, which takes into consideration factors such as:

These and other factors that affect the financial aspect of your planned retirement will help determine how much you will need to save.

Determine How Much You Can SaveIdeally, you want to save the amount needed to ensure that you meet your retirement savings goal. However, from a practical perspective, the amount that you can afford to add to your retirement nest egg should be limited to what you can afford.

For example Assume that you are 30 years old, you plan to retire at age 65 and your financial advisor projects that you will need $1 million, in addition to what you have already saved, to finance your retirement. Assuming a rate of return of 4% and an inflation rate of 3.1%, you will need to save about $1,100 per month in order to reach your goal.

However, the question becomes whether you can afford to save $1,100 per month. If you find that saving $1,100 per month causes financial challenges, including causing you to increase your amount of debt, it may be practical to reduce your savings amount and/or revise your retirement goals and objectives.

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Retirement Planning Tips For Women

Between inflation and consistently pitiful yields, retirement planning has become a Herculean task. Investment is tough when working with low returns. But there's a bigger problem on the horizon -- a large majority of baby boomers on the cusp of retirement won't have enough assets to last them for the duration.

In order to get a better understanding of retirement planning in a weak economy, we asked John Moore, associate professor of finance and economics at Walsh College, to provide us with some insight. As a frequent radio and television guest, he has served as an expert on Detroit Public Television as well as at the Economic and Business Historical Society annual conference.

Has the current economic situation changed retirement planning for baby boomers?

I believe the answer is yes. Returns from equities over the past dozen years have been disappointing by historical standards. Unfortunately, the near-term future of capital markets remains unclear due to the slow growth of the American economy and uncertainties in Europe.

The consequence is that many boomers are underfunded for their retirement. Many of them will need to work longer in order to accumulate the funds necessary to retire in comfort. An alternative will be to scale back lifestyle choices during the retirement years. The reality is that the average boomer will likely live their retirement years more comfortably than their grandparents, but perhaps not as well as their parents.

For retirees already on a fixed income, what effects has the recession caused?

The problem for fixed-income retirees is that the cost of "ordinary goods," such as groceries, gas and utilities, is currently increasing at a faster rate than the official (Consumer Price Index). This can seriously damage the real purchasing power that retirees have at their disposal. Although we are by no means in the same situation yet, the last time that retiree purchasing power was badly damaged was in the 1970s, when high inflation hurt retirees and the poor harder than any other segment of society.

How can an individual plan for retirement and determine the total amount he or she needs once retired?

Each individual's plan is unique. It depends on when they want to retire, what sort of lifestyle they want to live during retirement, the amount of savings they accumulate, and their investment styles. Everyone serious about retirement should work with some sort of qualified financial adviser to answer those questions.

In light of the currently volatile financial world, individuals should be prepared to save more and assemble a well-diversified portfolio in order to ensure they reach their investment goals. Although this may seem counterintuitive right now, a well-constructed portfolio should include some real assets such as real estate.

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Should Baby Boomers Say 'Bye' to Retirement?

BOSTON (MarketWatch)Retirement security doesnt seem to be an issue that the candidates running for president want to discuss. But they should, according to growing number of executives in the financial services industry.

In fact, executives and others are demanding that President Barack Obama and Gov. Mitt Romney, the presumptive Republican candidate, lay out their respective positions on various retirement security issues, such as Social Security, automatic IRAs and the like.

Earlier this month, for instance, Robert Reynolds, the chief executive officer of Putnam Investments, asked in no uncertain terms that Obama and Romney endorse the tax incentives now in place for retirement saving programs such as the 401(k) and start debating how to make Social Security solvent.

In short, Reynolds called on the candidates from both political parties to recognize retirement security as not only a vital national challenge, but a key element in solving our nations debt and deficit crisis over the long term. If we solve the retirement challenge it would have a huge benefit for all Americans, Reynolds said in an interview. If someones future is secure, it allows them to do so much more with their lives.

Weeks later, were still waiting.

Obama and Romney have not responded to Reynolds call. So, we set out to learn what each of the candidates positions are on some of the major retirement security issues, and to echo Reynolds plea for action as well.

Social Security

When it comes to making Social Security solvent, a spokesperson for Romney referred us to the campaigns website. And heres what Romney wants to do to fix Social Security:

First, for future generations of seniors, the retirement age should be slowly increased to account for increases in longevity. And two, for future generations of seniors, benefits should continue to grow but that the growth rate should be lower for those with higher incomes.

With just those two simple steps, and no change in benefits for those at or near retirement, America can guarantee the preservation of the Social Security system for the foreseeable future, according to Romneys website.

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Why Obama, Romney Threaten Your Retirement

LOS ANGELES--(BUSINESS WIRE)--

Chatham Partners recognized Transamerica Retirement Services sales team among the top retirement services providers in its 2011 Advisor/Distributor Satisfaction Analysis. Transamericas sales force was recognized for its knowledge, responsiveness and availability, and earned 10 Best in Class ratings in the survey.

In the survey, Transamericas external sales team earned Best in Class ratings from advisors and distributors for overall satisfaction, point-of-sale assistance and support, presentation skills, problem resolution skills, knowledge, responsiveness and availability. The companys internal sales team also garnered Best in Class ratings for responsiveness, knowledge and availability.

The survey results are a testament to the quality and value that Transamericas sales force brings to the advisor community, said Peter Starr, president of Chatham Partners. The ratings from advisors and distributors exemplify Transamericas dedication to providing Best in Class service to advisors and the retirement plan sponsors they serve.

Transamerica remains committed to helping financial advisors through all phases of selling and servicing retirement plan clients, said Jason Crane, senior vice president and national sales director of Transamerica Retirement Services. In this years survey, financial advisors have recognized our efforts in helping grow their practices, and in providing unparalleled support to advisors while working with prospective and current clients.

For more information about Transamericas retirement plan sales support, please call (888) 401-5826, Monday through Friday, 9 a.m. - 8 p.m. Eastern Time.

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.

About Chatham Partners 2011 Advisor/Distributor Satisfaction Analysis

Chathams independent third-party research helps isolate Transamericas key strengths, weaknesses, and gaps in delivery of client services, and benchmarks Transamericas standing relative to other small-market defined contribution providers. By identifying the most important drivers of advisor satisfaction, Transamerica uses these findings to help provide the best possible retirement planning solution for its clients.

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Transamerica Retirement Services Sales Team Ranks “Best in Class” in Chatham Partners’ 2011 Advisor/Distributor ...

(MoneyWatch) As a proponent of planning ahead, I've written previously about three strategies you should learn about that will "recession-proof" your retirement paycheck. One of my earlier posts showed how you might have fared if you had used one of these strategies -- drawing down interest and dividends only from a portfolio balanced between stocks and bonds -- during the "lost" decade of 2000 to 2009. Since a few years had passed, I wanted to update that analysis to include 2010 and 2011.

There are two simple, cost-effective ways for you generate a retirement paycheck from interest and dividends on a balanced portfolio. You can invest in one of the following two funds:

- Vanguard's Wellington fund (VWELX), which is invested about 65 percent in stocks and the rest in bonds and cash investments, or

- Vanguard's Wellesley fund (VWINX), which is invested about 40 percent in stocks and the rest in bonds and cash investments.

IRAs and 401(k): 3 ways to generate lifetime retirement income Recession-proof your retirement savings IRA and 401(k): Generate retirement income with just interest and dividends

Of course, there are other low-cost, balanced funds available; most likely your 401(k) plan at work has an investment option that could also could fit the bill.

So let's see how you would have fared if you had invested $200,000 in each of these two funds at the beginning of 2000, and then withdrew just interest and dividends each of the 12 years through the end of 2011.

Vanguard Wellington Fund

By the end of 2011, your initial investment of $200,000 would have grown to $227,266 just on the appreciation of the fund's share price, for a modest total gain of 13.6 percent over the course of 12 years. During your first year -- 2000 -- your interest and dividend payments would have been $7,739, for a yield on investment income of 3.9 percent. Over the next dozen years, you would have received a stream of income with a modest roller-coaster ride, as shown in this graph:

During those 12 years, you also would have received $53,002 in capital gains distributions. You could have used these distributions to boost your retirement savings by the end of 2011 or to fill in the dips in the dividend income stream (or some combination thereof).

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Recession-proof your retirement income

(MoneyWatch) This post starts my series on various retirement income offerings that are being introduced in 401(k) and other defined contribution retirement plans. Today we'll take a look at Income Solutions, the online annuity bidding platform offered by Hueler Investment Services that's available on the platforms of many 401(k) plan administrators. It's also available to customers of Vanguard through its Annuity Access program.

Do you long for the good old days of company pensions, where you're paid a monthly retirement income for the rest of your life, no matter how long you live and no matter what happens in the economy? You can get that with a simple "immediate annuity," a product that's been available for years from insurance companies. But don't confuse these time-tested products with "deferred variable" annuities, which can have high expenses and poor investment returns -- they've given annuities a bad reputation.

What happens if your insurance company fails? 401(k) Retirement income options coming your way Retirement income scorecard: Immediate annuities IRAs and 401(k): Maximize retirement income with immediate annuities

If you don't want to pay a lot of commissions to an insurance agent, consider buying an immediate annuity with the help of Income Solutions, which competitively bids fixed and inflation-adjusted immediate annuities among a panel of highly rated insurance companies.

It's pretty easy to use. Go to Income Solutions' website and answer a few simple questions, including your date of birth, sex, state of residence, and whether you want to cover your spouse or beneficiary to have a joint and survivor annuity (and his or her date of birth and sex). You'll also need to tell the system how much money you have to purchase an annuity.

You can also tell the system whether you want an annuity that's fixed in dollar amount, increases at a specified annual rate, or is adjusted according to the Consumer Price Index. The inflation protection will cost you more, meaning that a given amount of retirement savings will produce a lower initial monthly payment with an inflation-adjusted annuity.

The system then gets bids from Hueler's panel of top-rated insurance companies, and it shows how much of a monthly paycheck each insurance company would provide. For each insurance company, the system also shows you their credit ratings from A. M. Best, Moody's (MCO), and Standard & Poor's.

Non-commissioned telephone representatives can answer any questions you may have about the transaction, help you understand the terms, and guide you through the tools on the website. However, they won't give you financial planning advice, such as whether an annuity best meets your goals and circumstances, or how much of your retirement savings to devote to an annuity. The phone representatives will also be glad to work with your financial planner, if you're using one.

If you elect to apply part or all of your 401(k) account to an annuity, you'll want to make sure you buy a tax-qualified annuity, so you don't have to pay income taxes on the part of your savings that's applied to the annuity. Instead, you'll pay taxes on the income that you receive each year. The representatives at Income Solutions can help you execute the transaction in compliance with the IRS rules in order to maintain this favorable tax treatment.

"Our program gives consumers a fair shake when buying an immediate annuity," Kelli Hueler, founder of the Income Solutions platform, told me in an interview. "We obtain institutional pricing for individuals, compare the bids from the different insurance companies, and then transparently disclose all transaction costs. This helps put your mind at ease about buying an annuity."

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Retirement income review: Hueler's plan

ST. LOUIS, Mo.--(BUSINESS WIRE)--

For thirty-five years Thomas Helbig, founder of the Retirement Advisory Group, has watched several trends in the retirement planning market come and go. But one thing has always remained consistent with all of his clients over the years, not one of them ever lost a dime in principal or gains as a result of following his advice. That is a statement not many financial advisors can make. Helbig, an Independent Advisor and Certified Senior Advisor, is a specialist in all aspects of retirement planning and has been educated so thoroughly in this niche market that he is one of the most knowledgeable authorities in the country. He is also an approved Financial Advisor through the National Ethics Bureau and has been named a Five Star Best in Client Satisfaction Wealth Manager three years in a row in the St. Louis Magazine. This is an honor less than 7% of all Wealth Managers in his area have achieved.

Helbigs book, The Boomers Guide to a Worry-Free Retirement, has proved to be a valuable resource to retirees as well as professional financial advisors. With chapters like The Variable Annuity: Wall Streets Famous Lemon; Safety Meets Growth in a Fixed Index Annuity; and How to Turn Your IRA into a Family Legacy, Helbig has succinctly defined the real risk in securities and outlined a safer path with above average returns. Earlier this year Baseball Hall of Fame inductee and record-breaking shortstop for the St. Louis Cardinals, Ozzie Smith, joined Helbig at his book launch event attended by many of Helbigs clients. The book is now available through Amazon.

In addition to his role as an author, he is also a sought after speaker to audiences across the country at industry and public events. He was the keynote speaker at a conference attended by the top producers at Brokers International in Dallas, Texas. He has been featured in Newsweek, St. Louis Magazine, and the St. Louis Post Dispatch as being one of the leading retirement planning specialists in the country. Because of his expertise and significant contributions to his industry, he will soon be featured in the Wall Street Journal and USA Today as one of the countrys leading Trendsetters in the financial services and retirement planning world.

Learn More at http://retirementkey.com/about.html

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Retirement Planning Specialist Thomas Helbig is Educating America

NEW YORK, May 22, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Global Adult and Retirement Communities Industry

http://www.reportlinker.com/p0152426/Global-Adult-and-Retirement-Communities-Industry.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Medical_F

The global outlook series on Adult and Retirement Communities provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. Illustrated with 56 fact-rich market data tables, the report offers an aerial view of adult and retirement industry, highlights latest market trends, and key market drivers. Regional markets briefly abstracted and covered include North America, United States, Canada, Japan, Europe (including Finland, Monaco, and UK), Asia-Pacific (including Australia, China, India, Indonesia, Korea, Singapore, and Taiwan), Latin America (including Mexico), and Africa (including Morocco). The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 206 companies worldwide.

1. OVERVIEW 1

Retirement Communities - An Introduction 1

Location & Design - Key Factors for Retirement Units 1

Lifestyle Demands - Vital for Retirement Community Setting 1

Geriatric Living Solutions - An Overview 2

Skilled Nursing Facilities (SNFs) 2

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Global Adult and Retirement Communities Industry

Many baby boomers joke about working until they keel over because they can't afford to retire. That may not be the case, but boomers as a generation might need to work longer than they were planning to. Thomas Hardy, a finance professor at Cleary University and California Lutheran University's Institute of Finance, has some advice for anyone hoping to enter their golden years sooner rather than later.

Has the current economic situation changed retirement planning for baby boomers?

Clearly, the reduction in 401(k) balances and other retirement accounts coupled with the drop in housing prices has made it necessary for many baby boomers to delay retirement. Every extra year of working helps build up retirement account balances, delays the beginning of drawdown and reduces the amount that will be needed in retirement. So as unpleasant as it may be, (delaying) retirement may be the best and sometimes only way to handle the changed situation.

For retirees already on a fixed income, what have been the effects of the recession?

One effect of the recession is low interest rates, which reduces the interest income some retirees count on for living expenses. But while low interest rates decrease income, there is a silver lining. Rates tend to correlate with inflation, and the greatest risk for retirees already on a fixed income is higher prices, but the recession has kept inflation relatively benign. At the current anemic rate of economic recovery, it should be at least several more years before the threat of serious inflation revives.

How can an individual plan for retirement and determine the total amount he or she needs once retired?

The process of estimating needs for retirement requires making a series of carefully thought-out assumptions about savings, retirement age, longevity, lifestyle and long-term investment returns. Just about any Certified Financial Planner would be able to assist in estimating the amount one would need for retirement and put together a plan to reach that goal.

What significant impact has the economic meltdown had on investment plans such as 401(k)s?

As most everyone is aware, the stock market crash of 2008-2009 caused many 401(k) accounts to drop in value by 40 percent or more, but the most significant impact was on investor psychology. After the market crashed, many investors got out of equities and into low-risk, low-return investments and they missed the rebound growth that occurred from the market bottom. Over the very long term, the market has averaged a return of 7 (percent) to 10 percent per year, but the average investor in the market has obtained a return closer to 2 percent since investors often get out of the market after it has fallen to a bottom, and they stay out until the market has run up high again, getting back into the market in time for the next market crash.

Is there an ideal age retirement planning should be put first on the list of savings?

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Retirement sooner than never

According to a recent study by LIMRA, about half of the United States is not saving for retirement at all. The 49% who arent contributing to any retirement plan need an investment strategy and discipline to help them. Can exchange traded funds help?

The findings from this survey were disturbing, given that people will increasingly need to rely on their personal savings to make ends meet in retirement, Matthew Drinkwater, associate managing director at LIMRAs retirement research division said. [Adviser ETF Usage Rose 10% Last Year]

Whats more, people ages 18-34 are the least likely to save, with about 54% of the 2,697 U.S. citizens that were surveyed not contributing to a 401(k) or IRA, reports Blake Ellis for CNN Money. [An ETF Trend Following Plan for All Seasons]

In order to have the adequate savings necessary to meet their financial needs in retirement which could last 20 or more years it is critical that these individuals begin saving systematically early in their working years, Drinkwater said.

Furthermore, investors that did plan for retirement and have a portfolio arent that much better off these days. Investors that put capital into a broad-based large-cap benchmark like the Standard and Poor 500 to grow their retirement savings most likely have not seen their portfolios budge. [ETFs Face 401(k) Hurdles]

Nevertheless, a strict investment disciple is necessary for those that are going to get into the market. A strategy with a goal in mind can also help investors plan a portfolio. Resolve to stick to your discipline. One way to avoid pulling every last hair out of your head in frustration over the uncertainty is to have a plan and adhere to it no matter what.

Currently, Charles Schwab is working on a 401(k) retirement plan that is ETF-based. An all-ETF portfolio for retirement can be ideal, due to the low cost nature of the funds and the added transparency.

As of right now, most 401(k) investors can buy ETFs if their plan has a brokerage option. Around 38% of plans have this option, but only about 2.4% of investors participate in the choice, Jeanne Thompson, vice president of retirement insights at Fidelity mentioned. There is no time like the present to begin planning for the future.[ETFs Breaking into 401(k), 529 Savings Plans]

Tisha Guerrero contributed to this article.

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ETFs and Retirement: You’re Not Saving Enough