Enlarge Chris Lehman /for NPR

The Rainbow Vista retirement community in Gresham, Ore., bills itself as "100 percent gay owned and operated."

Chris Lehman /for NPR

The Rainbow Vista retirement community in Gresham, Ore., bills itself as "100 percent gay owned and operated."

February 16, 2012 from N3

When Pat Matthews turned 65, her declining health led her in search of a place that could offer increasing levels of care as she grew older.

And Matthews had one other requirement: She wanted to bring Carol Bosworth, her partner of nearly 20 years. At the very first place they visited, that was a problem.

"They didn't say we couldn't come. But they said that we would be best off if we were sisters," Matthews says. "We crossed them off our list, because that's not the way we want to live."

As lesbian, gay, bisexual and transgender people age, finding suitable retirement housing can be a unique challenge. Some facilities allow only married couples to live together, and many gay seniors fear a cold shoulder from staff or fellow retirees.

But some retirement homes have begun catering specifically to LGBT seniors. Matthews and Bosworth found a more welcoming reception at one such facility, the Rose Villa retirement community in Portland, Ore.

It's a fairly typical senior complex: People share gossip and do jigsaw puzzles in the lobby. Matthews says she and her partner were fortunate to find it.

"Some of our gay [and] lesbian friends that are older than us have chosen to stay home, because they don't trust what they might find," she says.

Making A Home More Welcoming

Rose Villa CEO Vassar Byrd says the community had always welcomed gays, but that Matthews and Bosworth's story was a wake-up call.

"I couldn't believe that in this day and age that that would happen," she says. "I was absolutely shocked beyond belief."

They weren't saying, 'Oh boy, here's our gay couple.' They were saying, 'Well, here's our new resident.'

- Rod Dolan, on the retirement community where he lives with partner Michael Stotts

Byrd set out to make Rose Villa as hospitable as possible to lesbian, gay, bisexual and transgender people. She immediately integrated LGBT issues into the diversity training that all staff — from nurses to custodians — undergo.

Advocates for gay seniors say Rose Villa's level of concern is pretty unique. And while it's nearly impossible to quantify, they say a growing number are going back in the closet in order to find a retirement facility that will accept them.

Hilary Meyer, with the National Resource Center on LGBT Aging, says one of the biggest barriers to finding welcoming housing is a lack of sensitivity among staff.

"Older adults now have lived with this historic discrimination and stigma, and they have a tremendous fear, of course, of service providers carrying that into their work."

Meyer describes a typical case: An elderly lesbian grows infirm. With no immediate family, she moves into a nursing home, and "the staff at the facility dresses her in dresses and other feminine clothing. This obviously can be very disconcerting to a woman who has not worn a dress in 25 years."

'100 Percent Gay Owned And Operated'

Rainbow Vista, a gay-friendly senior complex in the Portland suburb of Gresham, is considered by many to be one of the most gay-friendly senior complexes in the nation. It proudly bills itself as "100 percent gay owned and operated."

Currently, everyone living there is gay or lesbian, but resident Doug Schukar says that's not a requirement.

"If somebody over the age of 55 wanted to move in here, and they weren't judgmental and bigoted and everything else, they'd be just as welcome here as anyone else is."

Schukar and his partner, Don McClure, moved here from central California in the summer of 2011. McClure says they spent months investigating retirement housing options.

"It was important for me that I could have a gay community; a place that I felt safe and I could be myself, especially as I start the aging process."

Despite stunning views of Mount Hood and relatively low rents, Rainbow Vista is only about one-third full. Elsewhere, some predominantly gay retirement complexes have waiting lists.

While an all-gay retirement center may be of interest to some, many gay seniors prefer to live in a more diverse community in their golden years. Back at the Rose Villa, Rod Dolan says he and Michael Stotts, his partner of 35 years, weren't looking for a gay retirement home. They just wanted a place where they'd be accepted for who they are.

"People were actually glad to see us," Dolan says of Rose Villa. "They weren't saying, 'Oh boy, here's our gay couple.' They were saying, 'Well, here's our new resident.' "

In fact, Dolan says, it's precisely the sort of welcome they received when, in their younger years, they first moved to their old neighborhood.

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Retirement Communities Find Niche With Gay Seniors

“The Boomer” is a column written for adults nearing retirement age and those already in their “golden years.” It will also promote reader interaction by posting e-mail responses and answering reader questions. E-mail your questions or topic ideas to thefoxboomer@gmail.com.

When I was a kid we spent many Easter vacations at my aunt’s house in Cocoa Beach, Fla. We would pack up the station wagon, fill the cooler with cold drinks and sandwiches and head south on I-95.

The nearly-20-hour drive didn’t bother me because I knew it would be worth it: warm weather and sandy beaches would be my playground for the week. Now, as I approach my 62nd birthday and the temperature continues to drop outside, I find myself thinking a lot about those childhood vacations to the Sunshine State. Wouldn't that be a great place to retire?

When it comes to picking a retirement destination, boomers can’t make the decision solely based on weather. Other factors like affordability, access to transportation and walkability, housing and activities should also come into play.  

According to a survey released this month by the Consumer Federation of the Southeast.(http://consumerfederationse.com/2012/02/01/new-poll-shows-what-baby-boomers-want/), boomers are increasingly looking to relocate when they leave the workforce, and their decision on where to settle will impact not only on their finances, but also the communities they decide to join.

I spoke with Ron Sachs, spokesman for the Consumer Federation of the Southeast and asked him what baby boomers need to know about picking a retirement location. Here is what he had to say:

Boomer: With thousands of baby boomers retiring every day, what do you find is the most important consideration they take into account on where to retire?

Sach: Baby boomers are going to be a much more active generation than any generation that retired before them. Our survey that was conducted by Mason Dixon shows that boomers that are planning to relocate seek a good climate year round, affordable housing, low taxes, quality and affordable healthcare and a lot of availability of outdoor recreational activities.

Boomer: What should factors should baby boomers consider when looking at moving into a retirement community?

Sachs: Baby boomers are going to be looking for communities that are not too large; urban metropolitan areas that still have a small-city quality and feel to them. Places in the neighborhood of 200,000 to 500,000 residents are going to be more appealing to them than a multi-million dollar urban demographic area.

They should also make sure the community they enter is caring, and offers a chance to  volunteer or get a part-time job. The community should be one where they can quickly assimilate into the ebb and flow of day and night life.

Boomer: Many baby boomers will have to continue to work past retirement just to make ends meet. Would you recommend these working boomers consider moving out of their home state?

Sachs: If we know anything about baby boomers it is their willingness to go outside their comfort zone. Even in their retirement years, we expect baby boomers to deepen the reach of older individuals continuing to work, even if just part time.

It is conceivable that baby boomers will become part-time teachers, or become involved in various volunteer opportunities (paid or not paid), and that becomes a great asset to a community. I do think that working past retirement for baby boomers may take a different form in a different job or profession than where they earned most of their living during their primary working years.

Boomer: Where are the top five best places for retirement?

Sachs: Baby boomers have shown us the way of smaller communities. They are looking at cities that are smaller than typical big cities with good year round climates. They also want affordable housing and lower taxes, so a state that doesn't have an income tax, for example, would be more appealing. It seems that by and large, based on these considerations that southeast states would be attractive to retiring baby boomers: Florida, the Carolinas and Georgia to name a few.

Boomer: With the rising cost of health care, taxes, housing and utilities where are the most affordable retirement communities?

Sachs: Boomers are going to look carefully at states that don't have a state income tax, and Florida is one of those. Florida also benefits by having a great climate with very mild winters-- even in the northern parts of the state. Florida used to be the No.1 retirement destination, but in the last decade, the Carolinas have topped it. But I think Florida is going to have a resurgence with the baby boomer generation because many of them went there as a child and have fond memories.  

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Boomers on the Hunt for the Perfect Retirement Spot

Retirement is a subject that gets increasingly scarier as you age. There are just too many variables to accurately predict how much money is necessary. So, unless you are extremely wealthy, there's bound to be some anxiety about whether you will have enough to live comfortably. Here's how to eliminate some of your biggest retirement fears.

[See The 10 Best Places to Retire in 2012.]

Work on your health. Your health care expenses could increase exponentially in retirement. Many healthy workers almost never have to go see a doctor. But doctor visits, tests, and medications will become more frequent as you get older. Take steps to reduce your health care costs by staying active and eating a healthy diet. Exercising will help your energy level immediately, which could lead to other positive outcomes such as being more productive.

Pay off your house. Paying of your mortgage completely eliminates one of your biggest monthly costs. Although interest rates are currently extremely low, planning to make mortgage payments throughout retirement puts unnecessary stress on your finances. The easiest way to feel more secure in retirement is to reduce your fixed expenses as much as possible. This includes aiming to be debt free by the time you retire, and possibly downsizing so you aren't paying for unnecessary upkeep on a huge house. You might even find that you enjoy the simplicity that comes from a small house with no housing payments.

[See How to Finance Life Until 100.]

Stabilize your family obligations. Do you have parents that you will likely need to take care of when you retire? How about children who are still depending on you? Don't kick the can down the road anymore. Spend some time together to come up with a plan so all family members know what to expect when you retire. Figuring out what monetary or personal support you plan to provide to relatives will remove unnecessary strain and anxiety from your relationships and allow you to budget for the costs.

Develop your lifelong hobbies early. Many people jump from one interest to the next, and that can get very expensive. Many hobbies require an upfront capital investment that you may never get back. When you are retired, you may be tempted to try a lot of different hobbies, only to put your new equipment in the garage after three months. That's why it's a good idea to develop hobbies early, when you have less money in your bank account. When you are young and relatively poor (compared with your retired self), you also likely have more motivation and energy to figure out how to make the hobby work on a budget. Begin to pursue potential retirement activities before retirement, and figure out how to go about it in a frugal way.

[See How Long Should I Work Before Retirement?]

Retirement could be decades away, and there are many variables that are in flux. By reducing the expenses you know you will have, you will be much closer to guaranteeing a solid and comfortable retirement.

David Ning runs MoneyNing, a personal finance site aimed at helping others change their habits for a better financial future. He suggests that everyone to sign up for an online savings account to get more out of our hard earned money.

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4 Ways to Reduce Your Retirement Anxiety

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Retire in Stages - Video

BALTIMORE, Feb. 15, 2012 /PRNewswire/ -- T. Rowe Price has expanded its suite of interactive planning tools with the launch of Ready-2-Retire (troweprice.com/ready2retire), a web-based tool that allows investors to envision how they might live in retirement.

Ready-2-Retire asks investors questions in a simple manner that helps them establish goals, set priorities, and understand risks.  No personal financial account information is necessary to use the tool.  When investors complete its questions, Ready-2-Retire produces a personal retirement profile summarizing their desired retirement lifestyle plan, their level of preparedness to minimize exposure to various risks they may face in retirement, and a list of next steps they may wish to take in the planning process.

"Ready-2-Retire helps people jump-start their retirement planning in a straightforward, non-threatening way," said Carol Waddell, head of product management and development in T. Rowe Price's Retirement Plan Services division.  "The interactive, visual nature of the tool makes it easy to understand and use.  The Summary Profile it presents also provides links to additional planning and educational resources."

Investors of any age can use Ready-2-Retire in their future planning, but the primary audience is likely to be those nearing retirement age, 80% of whom attempt to self-educate on the topic of retirement, according to LIMRA.  With Ready-2-Retire, pre-retirees can think through the activities they want to participate in, their preferred living arrangements, and possible location changes, while also considering a variety of risks retirees may face – including longevity, inflation, investment, and health-care risks – and how they plan to address them. 

"Ready-2-Retire gives investors an easy way to envision the kind of life they would like to lead in retirement and provides focus on potential risks that could stand in their way," said T. Rowe Price financial planner Judith Ward, CFP®.   "It takes what for many people is an abstract concept – planning for retirement – and helps them visualize and prioritize what is most important to them.  Ready-2-Retire is also effective at helping individuals and couples begin or continue a retirement planning dialogue, either with a financial advisor or each other." 

Ready-2-Retire was developed by LIMRA and licensed to T. Rowe Price.  Other T. Rowe Price retirement and financial planning tools include Retirement Income Estimator, Retirement Income Calculator, and Retirement Income Manager.  Participants in certain corporate retirement plans administered by T. Rowe Price also have access to online financial advice tools from Morningstar and Financial Engines.

Founded in 1937, Baltimore-based T. Rowe Price is a global investment management organization with $489.5 billion in assets under management as of December 31, 2011.  The organization provides a broad array of mutual funds, retirement plans, subadvisory services, and separate account management for individual and institutional investors and financial intermediaries – in addition to the services offered by Retirement Plan Services.  The company also offers a variety of sophisticated investment planning and guidance tools.  T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

Founded in 1916, LIMRA is a worldwide research, consulting, and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness.  Visit LIMRA at http://www.limra.com.

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T. Rowe Price Adds to Suite of Retirement Planning Tools

SAN DIEGO, Feb. 14, 2012 /PRNewswire/ -- LPL Financial Retirement Partners, the retirement plan- focused division of LPL Financial LLC, the nation's largest independent broker/dealer*, announces the additions of Plan Health Check and Fee Comparison & Analysis Evaluation tools to bolster the Retirement Partners tool suite for advisors. The LPL Financial Retirement Partners tool suite offers a comprehensive collection of retirement plan tools designed to help advisors grow and maintain their book of business in an automated and scalable fashion.

LPL Financial Retirement Partners has partnered with Fiduciary Benchmarks, Inc. to provide peer level data for comparison purposes in both new offerings:

The Plan Health Check tool allows retirement plan advisors to track and report on a plan's value and success attributes such as plan participation, deferral rates and average account balance. The Fee Comparison & Analysis Evaluation tool quickly and legitimately compares plan fees and design against an appropriate peer group, producing an easy-to-read report for plan sponsors.

"This is the fourth addition to the already robust retirement tool suite since June," noted Bill Chetney, executive vice president of LPL Financial Retirement Partners. "We are thrilled that Retirement Partners continues to build out one of the strongest and most effective offerings of tools for advisors in the retirement plan arena."

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA - News), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2011), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to approximately 12,800 financial advisors and approximately 730 financial institutions nationwide. In addition, LPL Financial supports over 4,000 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego. For more information, visit http://www.lpl.com.

Securities offered through LPL Financial. Member FINRA/SIPC

* Based on total revenues, Financial Planning magazine, June 1996-2011

LPLA-C

LPL Financial Media Contact
Michael Herley
Kekst and Company
(212) 521-4897
michael-herley@kekst.com

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LPL Financial Retirement Partners Rolls Out New Retirement Plan Tools to Enhance Advisor Services

The shaky economy has caused many Americans to rethink their retirement plans. Some say they’ll put off retiring and try to save more money. Others say they don’t expect to retire, either because they don’t want to or they can’t afford to.

While none of us can control the economy, you can take steps to increase the odds of a successful retirement on whatever timetable you choose. That’s one key takeaway from the Consumer Reports National Research Center’s survey of retired and soon-to-be retired online subscribers conducted last fall.

Our fifth such survey since 2007, it asked 21,714 people from 55 to 75 what they did right or wrong in preparing for retirement.

Starting too late and saving too little topped the retirees’ list of regrets. But several less obvious mistakes also emerged from our survey data:

Underestimating expenses Nearly a third of the retirees we surveyed said their expenses were greater than they had anticipated before retiring, while only 11 percent said their expenses were lower. That turned out to have a significant bearing on how satisfied the retirees were overall. Adjusting for the effects of other significant variables, our survey analysts estimated that 76 percent of retirees whose expenses didn’t exceed their expectations were highly satisfied with retirement. For those whose expenses proved to be higher, the number dropped to 56 percent.

What to do: Make a comprehensive list of all your current expenses, cross out those that will end when you retire, and add any new ones, including fun stuff such as travel. Before you retire, consider living on that budget for six months to a year just to see if it’s a comfortable fit. And don’t be surprised if your retirement expenses actually exceed your preretirement ones, at least for the first few years.

Investing too conservatively Retirees who characterized their overall investment style as conservative reported median savings of $478,000, compared with $617,000 for their aggressive counterparts. Readers who considered themselves moderate risk takers fell between those two groups, with $563,000.

What to do: If you’re saving for retirement and all your money is in conservative investments like CDs, money-market funds, and bonds, you might want to add stocks or stock funds to the mix. Financial planners generally suggest retirees also maintain a reasonable exposure to stocks, in part as an inflation hedge. For example, if you were to put $100,000 in a five-year jumbo CD paying a recent interest rate of 2.65 percent, and inflation continued at its recent pace of around 3.5 percent, your investment would lose about $4,800 in value by the end of five years, according to the Consumer Reports Money Lab.

Not diversifying enough We asked readers who said they planned to retire by 2015 what investment vehicles and asset classes they had used to save. Their choices included 401(k) and 403(b) plans; their homes; IRAs; saving accounts and CDs; stocks, bonds, and mutual funds held outside a retirement plan; and half a dozen other options. Adjusting for the effects of other variables, readers with three or fewer types of investments reported median retirement savings of $246,000, compared with $539,000 for those with seven or more types.

Of course, people who have more money might be expected to have it in more places. But the finding held true across income levels, and people with lower incomes who diversified widely often accum-ulated more than those with higher incomes who didn’t. For example, people with incomes under $85,000 who used seven or more investment types reported median savings of $368,000; those with incomes of $125,000 to $199,999 and money in three or fewer places had $315,000.

What to do: If your money is in just a few investments, now might be the time to broaden your horizons. If you need help, consider consulting a fee-only financial planner, who can model different allocations based on your risk tolerance and likely retirement date. You can get names from the National Association of Personal Financial Advisors (www.napfa.org).

Consumer Reports has no relationship with any advertisers on Yahoo! Copyright © 2008-2012 Consumers Union of U.S., Inc. No reproduction in whole or in part without written permission.

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Avoid costly retirement mistakes

If you're caught in a no-man's land somewhere between Roth and traditional contributions trying to figure out whether to pay taxes now or later, you're not alone.

[See top-ranked ETFs by category ranked by U.S. News Best ETFs.]

The Roth versus traditional discussion is happening on talk shows and in news columns, magazine articles, blogs, and message boards.

Gathering information and engaging in your retirement planning is a healthy and helpful exercise, but don't listen to the one-size-fits-all pundits. Roth isn't categorically better, and neither is the traditional option. Everything depends on your personal situation. And sometimes a combined approach may work out best.

The ups and downs of a traditional contribution

Traditional 401(k) contributions come out of your paycheck before you pay taxes. As a result, traditional contributions lower your taxable income. The immediate, concrete benefit is that you'll cut Uncle Sam a smaller check in April.

On the flip side, you'll have to pay ordinary income taxes on traditional 401(k) distributions during retirement. The $50,000 per year you thought you'd have during retirement could be much lower depending on your tax bracket.

The ups and downs of a Roth contribution

Roth contributions come out of your paycheck after you pay taxes. You'll see the major benefit during retirement: no ordinary income taxes on Roth contributions or any resulting capital gains.

[See How to Prioritize Saving in a 401(k) and Roth IRA]

You don't get to reduce your current taxable income, but you get to keep 100 percent of each Roth distribution during retirement. Roth contributions are simpler and leave fewer future unknowns.

Who benefits from what?

For a few people, the benefits of one contribution method seem obvious.

For example, a recent college graduate making relatively little money is currently in a low tax bracket. She doesn't stand to benefit significantly from lowering her taxable income because she's already in a low tax bracket. Though the future isn't certain, we can make an educated guess that she'll be in a higher tax bracket during retirement than she is now. Paying income taxes now seems to be a better idea than paying later when she'll pay at a higher rate.

Conversely, a 65-year-old executive who's at the peak of her earning years is currently in a high tax bracket. Reducing her taxable income could be very beneficial, and it doesn't seem that her tax rate will be higher during retirement than it is now. Making pre-tax traditional contributions now seems to be a better idea.

The big question: What does the future hold? Without a crystal ball, it's impossible to know what your tax rate will be during retirement, even if you know what your income will be. When the tax code changes, each set of Roth and traditional advantages could also change.

Tax diversification

To mitigate the risks associated with an ever-changing tax code, you can engage in tax diversification. In the larger investing world, there are many ways to implement tax diversification. Talk to your tax professional about your options. In the 401(k) realm, your major option is to divide your contributions between Roth and traditional, taking into consideration any contributions your employer is making on your behalf.

[See Using Brokerage Windows to Expand Your 401(k) diversification]

As with asset class diversification, there are details of your personal situation that can assist you in determining your Roth/traditional split. The aforementioned "Who benefits from what?" examples are still applicable, but each investor could diversify with smaller contributions in the seemingly less-advantageous form.

It's also noteworthy that individuals who are closer to retirement have more tax certainty than people with a longer retirement timeline. These near-retirees can make more contributions with planning based on the current tax code.

Since most earners are neither 22 nor 65, most of us face a significant gray area in deciding what our Roth/traditional split should be. As you decide, talk to your retirement adviser and tax professional about the particulars of your situation. And, as with your asset class allocation, make decisions that allow you to rest comfortably at night.

Scott Holsopple is the president and CEO of Smart401k, offering easy-to-use, cost-effective 401(k) advice and solutions for the everyday investor. His advice has been featured on various news outlets, including FOX Business, USA Today and The Wall Street Journal. Keep tabs on Scott on Twitter and Facebook.

Nothing in this article should be construed as tax advice. Contact a qualified tax professional to discuss the tax implications involved in the decision to make Roth or traditional contributions to your retirement plan as well as any other tax matters relating to your retirement plan options.

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Retirement Contributions: Roth Versus Traditional

ARLINGTON, Texas, Feb. 14, 2012 /PRNewswire/ -- How much money do you need to retire? Ten times your income? A million dollars?

The answer depends on who you ask.

A general guideline among financial advisers is to plan on withdrawing four percent of your portfolio each year in retirement. Using this guideline if you want to have an annual income of $40,000 in retirement and plan on living until age 90, you must save $1 million.

Consumers, however, don't agree. According to the Employee Benefit Research Institute's 2011 Retirement Confidence Survey, 31 percent say they can retire comfortably on less than $250,000. Where did $250,000 come from? Forty-two percent of consumers admitted they determined their retirement savings need by guessing.

"Determining the amount of money you need to retire is complex," said Derrick Kinney, a nationally recognized retirement planning specialist and principal of Derrick Kinney & Associates (http://www.derrickkinney.com). "People want the security of a defined number. They want to hear that if they save X amount of dollars, they will have a secure retirement, but there simply isn't a one-size-fits-all answer."

To determine the amount of money you will need in retirement, Kinney recommends starting by defining your idea of a dream retirement early.

"The amount you need to save will vary drastically based on how you envision your ideal retirement," Kinney says. "If your home will be completely paid off or you plan on working part-time, you can probably live on roughly 80 percent of your pre-retirement income. However, if your goal is to live luxuriously in retirement or travel the world without worrying about financial restraints, you may need an annual income greater than your pre-retirement income."

After you figure out what you want to do, estimate how much it will cost. There are numerous online calculators that can provide an estimate of how much you need to save, how much SSI you can expect, etc. Remember to factor in any major goals you want to achieve during retirement. For example, if you want to spend your retirement traveling, you could allocate $15,000 per year to travel.

Next, use these calculators and estimates to make a plan.

"The most common concern I hear as a financial adviser is running out of money during retirement," Kinney says. "To overcome this, I recommend creating a plan and having a back-up plan. I've never heard anyone say they regretted planning too well for retirement."

For example, in your original retirement plan, you could plan on working until age 65, but your back-up plan could include a way to keep your savings on track if you were forced into an early retirement at age 60.

When creating a plan, you must factor in the inflation rate, your expected retirement age, the planned longevity of your retirement and your expected return on investment. Generally, financial advisers use an estimated rate of three to four percent for inflation and four to six percent for return on investments. When in doubt, use conservative estimates.

After following these steps, you should have an estimated, defined and realistic retirement goal. If the number looks astonishingly large and you don't think you could ever save that much, don't panic. Compound interest can make a big impact.

To fully utilize the power of compound interest, Kinney recommends you start saving as soon as possible and make sure to contribute enough to your 401(k) to take advantage of any employer matching benefits.

"What's important is beginning to save early and continuing to save consistently," Kinney says. "You should aim to max out contributions to your 401(k), IRA or both. I usually recommend people who are living comfortably on their current income direct any raises they may receive to their retirement savings."

By determining a retirement savings goal and creating a plan to reach it, you are putting yourself on the path to a more secure and comfortable retirement.

About Derrick Kinney and Derrick Kinney & Associates

Derrick Kinney is a nationally recognized retirement planning specialist that has been interviewed by Bloomberg TV, CNBC, CNN Radio, CBS Marketwatch, Money Magazine, The Wall Street Journal and many more. He is the principal of Derrick Kinney & Associates, a financial planning practice located in the Dallas/Fort Worth metroplex and holds ChFC, CASL, and CLTC designations. For more information on Kinney, visit http://www.derrickkinney.com.

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Dallas Retirement Planning Specialist Derrick Kinney Provides Tips on How to Create a Realistic Retirement Savings Goal

NEWARK, N.J.--(BUSINESS WIRE)--

Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU - News), today announced its first longevity reinsurance transaction of 2012.

Under the terms of the transaction, Prudential Retirement will provide reinsurance of longevity risk to Rothesay Life, a wholly-owned subsidiary of The Goldman Sachs Group, Inc. The transaction initially covers pension liability values of GBP 423 million, approximately equal to $665 million U.S. dollars.

The reinsurance secures the retirement benefits of almost 20,000 members of the Uniq Plc Pension Scheme, who are insured by Rothesay Life. The reinsurance transaction is particularly significant as it covers the risks of all life annuities held by plan participants, regardless of age or retirement status, and over half the plan participants reinsured have yet to reach retirement.

“We are happy to partner with Rothesay on another innovative Pension Risk Transfer transaction that helps to secure the retirement benefits of Uniq’s members,” said Amy Kessler, senior vice president and head of Prudential’s Longevity Reinsurance business.

“Rothesay Life is pleased to continue its partnership with Prudential,” said Addy Loudiadis, chief executive officer, Rothesay Life. “This latest transaction demonstrates how we can work together to complete an important transaction.”

Reinsurance contracts are issued by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT 06103. PRIAC is not a U.K. Financial Services Authority (FSA) authorized insurer and does not conduct business in the United Kingdom or provide direct insurance to any individual or entity therein. Prudential Financial, Inc. of the United States is not affiliated with Prudential plc, which is headquartered in the United Kingdom.

Rothesay Life is an insurance company established in the U.K. as a wholly-owned subsidiary of The Goldman Sachs Group, Inc., a bank holding company and leading global investment banking, securities and investment management firm. Rothesay Life provides annuity and other longevity products to corporate defined benefit pension plans, tailored to meet the specific needs of corporate sponsors, trustees and pension plan members. Rothesay Life is authorized and regulated by the U.K.’s Financial Services Authority.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of nearly 3.6 million participants and annuitants. Prudential Retirement has $229.5 billion in retirement account values as of December 31, 2011.

Prudential Financial, Inc. (NYSE: PRU - News), a financial services leader with approximately $901 billion of assets under management as of December 31, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

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Prudential Retirement reinsures retirement benefits through transaction with Rothesay Life