Netflix just announced the latest addition to its roster of originals: a longform talk show from David Letterman. The six-episode series, which doesnt yet have a name, will feature Letterman having lengthy conversations with people he admires. Hell also leave the studio and do some real-world reporting, according to Netflix.

Letterman retired from hosting The Late Show in 2015, and has managed to stay relatively under the radar since then. But one of Netflixs go-to moves, at least when it comes to comedy, seems to be bringing A-listers back into the spotlight they once avoided. Dave Chapelles recent standup specials for Netflix were his first in more than a decade, and this past winter, the company announced that it was working on a stand-up special from Ellen DeGeneres. Jerry Seinfelds web series Comedians in Cars Getting Coffee is also leaving Crackle this year for Netflix.

I feel excited and lucky to be working on this project for Netflix, Letterman said in a statement. Heres what I have learned, if you retire to spend more time with your family, check with your family first. Thanks for watching, drive safely.

Lettermans series is set to premiere sometime in 2018.

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David Letterman is leaving retirement to host a Netflix series - The Verge

NerdWallet Published 10:00 a.m. ET Aug. 8, 2017

Millennials, this is how you can fix your YOLO financial mindset. USA TODAY

At the risk of sounding like a Facebook friend trying to fold you into my latest direct sales venture: Early retirement is possible.

If you read the Internet, you might already know this is true. Its been done; in fact, retirement at age 30 or 40 has become a trend of sorts, largely led by financial bloggers. But you might not know what it takes. Do you need a blog? To live with your parents for the next 10 or 15 years? To join a direct sales company yourself and pitch life-changing leggings, essential oils or protein shakes?

The answers are pretty much across-the-board maybes. Retiring at a young age takes a commitment; how you make that commitment can vary. One thing you need for sure: money. Heres how to figure out how much, where to find it and what to do with it.

When youre sweating your way through another nine to five, sitting around watching Real World reruns sounds pretty ideal. After a few days of watching drunken teenage fights, you might find those reruns arent as fulfilling as you expected.

Retirement means something a little different to everyone, so the first stop on the early retirement journey is to figure out what youre after. If your goal really is to lounge for 50 or 60 years, no judgment here but youre going to need more money. If your goal is to travel work-free, you probably need even more.

More: Here's what Social Security pays the average American

On the other hand, you might be looking for something a little less drastic. Maybe you still plan to work but on your own terms, or you want to travel but plan to pick up work at each stop. In that case, you may be able to retire on less because youll have a continued source of income.

Knowing how you plan to spend retirement will give you an idea of how much of your current income you need to replace.

The general retirement rule of thumb is to replace 80% of your pre-retirement income. That 20% reduction accounts for payroll taxes youll no longer have to pay and the 10% to 15% of your income you were presumably saving for retirement. Early retirement shakes up that math. As youll find out in a minute, youll need to save much, much more pre-retirement, which means youll be accustomed to living on much less than 80% of your income.

Lets say youre 25 now, earn $50,000 a year and want to retire by age 40. According to NerdWallets retirement calculator, you can do that if youre willing, and able, to save 48% of your income for the next 15 years. That will give you roughly $1,333 a month in retirement, which is your current income adjusted down for taxes, savings and those general work-related expenses that will disappear.

More: 5 top habits of the best retirement savers

If youre doing one of those half laughing-half crying things right now, you might want to adjust your plans push out that retirement age a little bit or plan to continue bringing in some kind of income in retirement.

In other words, brush off your blogging skills. Everyone loves a good early retirement story.

Saving 15% of your income is hard. Saving close to half of it is a different game entirely. It requires major cuts to your spending.

To make those cuts, start with the big things. Can you lower your rent or mortgage payments by refinancing or moving or, yes, living with your parents, though be sure they understand the impact of a long-term houseguest on their own retirement. Can you trade in your car for a cheaper version that still gets you from point A to point B?

Then look at smaller, recurring expenses. The cable goes. (I did this and found it completely painless, thanks mostly to the Bravo app.) The internet speed gets downgraded. Running outside replaces the gym. Any debt that can be refinanced student loans, credit card balance transfers should be. And yes, you will probably never eat avocado toast or drink a latte again.

We are living in a time when its relatively easy to pull in money on the side. There are those direct sales jobs mentioned earlier, though the jury is out on how much they actually bring in for the people at the bottom of the pyramid. There are side gigs like renting out a room on Airbnb, dog sitting through a site like Rover, folding laundry via TaskRabbit or freelancing on Upwork.

More: Her parents taught her to save, now she plans to retire at 40

Also, consider whether youre being paid fairly at your day job and if the time is right to ask for a raise or to start shopping around for a company that pays more. No matter how the money comes in, the more you earn, the more you save. Every extra dollar goes toward retirement.

Finally, you need to make the most of the money you save. That means putting it into your 401(k), if your employer offers a match, so you can grab that free money. If you dont have a 401(k), max out an individual retirement account like a Roth IRA, then shovel money into brokerage accounts.

It also means investing. Millennials seem loath to jump into the stock market, but doing so is the way to build real wealth. A recent NerdWallet analysis found that avoiding the market could lead to $3.3 million in lost retirement savings over 40 years. Over a shorter time horizon, that number would be smaller but still significant.

More on retirement

This article was written by NerdWallet and was originally published by Forbes.

The article Millennials, Heres How to Retire By 40 originally appeared on NerdWallet.

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Millennials, here's how to retire by age 40 - USA TODAY

Former San Diego Chargers and Kansas City Chiefs cornerback Brandon Flowers announced his retirement Tuesday.

He thanked the owners of the Chiefs and Chargers in an Instagram post and wrote that he's ready "for this next chapter in my life."

Flowers, who turned 31 in February, played the past three seasons with the Chargers but was placed on injured reserve in December 2016 after suffering a concussion in Week 10 against the Dolphins. In six games (all starts) last season, he finished with one interception and five passes defensed.

Flowers started 30 of the 31 games he appeared in with the Chargers, but was released by the team on March 7, freeing up $7 million in cap space.

Flowers had a tryout with the Arizona Cardinals recently, but the team decided to sign cornerback Tramon Williams instead.

He spent the first six seasons of his career with the Chiefs and was selected to his only Pro Bowl in 2013. He had 17 interceptions and 92 passes defensed in his time in Kansas City.

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Veteran CB Flowers says he is retiring from NFL - ESPN

Theres no shortage of retirement advice from financial professionals to regular folk whove retired and are now sharing their perspective on retired life.

5 ill-conceived pieces of retirement advice

With These Two Moves, You Can Retire Well No Matter What the Market Does

But heres the thing to keep in mind as you consider retirement recommendations. What seems perfectly logical on paper doesnt necessarily play out in person.

Thats the point Paul B. Brown of the New York Times makes in a recent post: Three Things I Should Have Said About Retirement Planning

I had co-authored a couple of books on the subject one when I was in my 30s and another in my 40s but now that I am north of 60 and retirement is a far less abstract concept, I look back on what I wrote in a different light, Brown wrote.

Hes got more perspective, he says. Hes more empathetic. Typical advice: You can work longer to save more. Browns take now: I wrote it was just a no-brainer to work until age 70, if you can. While my math was right, what I now realize is just how hard it is to keep working as you age.

Typical advice: Once you eliminate the expenses for raising your children, you can save more for retirement. Browns take now: I used to believe that people edging closer to retirement usually had the ability to save more, since child-rearing expenses were no longer a factor. So, I blithely wrote, you could take all that money you had been putting toward college, for example, and invest it for retirement. Well, our baby graduated five years ago, and now all that tuition money is going to home repair.

Typical advice: Spend on the big things now before you retire and transition to a fixed income. Browns take now: Our oldest got married 3,000 miles away in Sonoma Valley, Calif., a couple of years ago, and not only did we fly in various family members who would have otherwise been unable to attend, but we rented a huge house for a week and hosted anyone and everyone who wanted to come by. I wouldnt have had it any other way.

I loved that Brown revisited his advice acknowledging that life can get in the way of the best of plans. So as you prepare for retirement, factor in a lot of what ifs.

What if you cant or dont want to work until youre 70? I dont want to be tied down to a job until my 70s. Id like to spend my 60s, traveling and doing financial ministry work at my church and in prisons.

My husband and I are in our preretirement planning phase and have realized that our children are still going to need some financial assistance beyond the undergraduate college expenses weve saved. Starting this fall, we are covering graduate school for our oldest. Yes, thats money we could put toward our retirement, but we want to make sure she and her siblings should they also decide to go to graduate school dont start their young adult life off with debt.

When it comes to advice, I tend to put more weight on the wisdom from people whove been there and done that and have come out okay. So with that perspective, read this from NerdWallets Liz Weston: Retirement Advice From Retired Financial Experts

Retirement rants and ravesIm interested in your experiences or concerns about retirement. Did you retire early and if so, how did you do it?

Is retirement everything you hoped for? Are you scared youll run out of money?

Sharing your storymight help others. So send your comments to colorofmoney@washpost.com. Please include your name, city and state. In the subject line put Retirement Rants and Raves.

I heard from a lot of you who were forced to retire.

Catherine C. from Gaithersburg, Md., wrote, I retired early at age 58 due to my mothers failing health stroke and Parkinsons disease. I was the only one of her four children who lived near her and could help. She had been widowed at age 50 and went back to work as a legal secretary after having been a homemaker for 20-plus years. I had planned to go back to work once my mother was stabilized in a continuing care facility. However, her health was precarious and it fell to me to take her to medical appointments, fill her pill dispensers (morning, afternoon and evening), keep her apartment stocked with the foods she liked and wash and iron her clothes. I did this for 16 years. She died 1 week shy of her 97th birthday. I do not regret one moment of this. She was a spectacular mother who put four kids through college and encouraged each of us to follow our dreams.

Catherine and her husband saved well enough that retiring early didnt impact their retirement.

We consider ourselves fortunate, she wrote. We learned a lot from our parents. My mother was Michelle Singletary before there was a Michelle Singletary! She believed in living below your means. We have followed in her steps in our home for 30 years, older cars on the driveway, no bling, no designer clothes. We do splurge on trips to see friends around the country and the occasional dinner out. We are in pretty good health, but we know that could change in a second. My husband retired four years ago at 63. His company was going through a reorganization and he took a buyout. We are enjoying retirement, but we keep a close watch on our pennies. Its wonderful to get up in the morning and have the day unfurling before us. We both do volunteer work, which keeps us busy and connected to our community. We have a dog and walk her several times a day. Have found some amazing parks that way. We are reconnecting with old friends from college and other volunteer work we have done in the past. At some point, we will downsize to a smaller place in a lower cost area ,but were not there yet.

Chuck Butler of Fenton, Mo.,was forced to retire. Hes 62.

The company that I helped start in 1999 was bought out and the deal closed this year, Butler wrote. I was told I was to retire the day the deal closed. I was no more ready to retire than the man on the moon, but I had prepared, savings and investments wise for this day for years, and I do not have a fear of running out of money before Im 95. I doubt I live that long, as I was diagnosed with Stage 4 metastatic renal cell cancer 10 years ago. I have battled cancer for 10 years, all the while working. I was given a fair severance that included some payment for continued insurance through COBRA. But that runs out in a year. The main problem I have is that at 62, my COBRA insurance will run out before I hit 65, and be eligible for Medicare. I have about a year of private insurance that Ill have to pay for my wife, and me and youngest son that is in college. And THAT is something I did not plan for. So, I would warn all people that are getting ready to retire early, to check out the cost of insurance before they make that move. Its an eye opener.

Retirement blog I believe that wealth happens intentionally and that means for me reading as much as I can about all things financial, especially retirement. In this section of the newsletter, Ill feature postings from various retirement blogs.

This post caught my eye: 5 Countries Where You Can Retire for $1,000 a Month

As my husband and I plan for retirement, we havent considered whether we would be willing to move overseas.

Id like to hear from any readers who have made the move to live abroad. Hows it working out for you? Or are you planning to retire overseas? Tell me about it.

Send your comments to colorofmoney@washpost.com

Newsletter comments policyPlease note it is my personal policy to identify readers who respond to questions I ask in my newsletters. I find it encourages thoughtful and civil conversation. I want my newsletters to be a safe place to express your opinion. On sensitive matters or upon request, Im happy to include just your first name and/or last initial. But I prefer not to post anonymous comments (I do make exceptions when Im asking questions that might reveal sensitive information or cause conflict.)

Have a question about your finances? Michelle Singletary has a weekly live chat every Thursday at noon where she discusses financial dilemmas with readers. You can also write to Michelle directly by sending an email to michelle.singletary@washpost.com. Personal responses may not be possible, and comments or questions may be used in a future column, with the writers name, unless otherwise requested. To read more Color of Money columns, go here.

If youre viewing this newsletter online sign up to receive Michelle Singletarys free newsletters right into your email box: Your Retirement on Mondays & Personal Finance on Thursdays http://wapo.st/personalfinance

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What if the retirement advice you're getting isn't quite right? - Washington Post

The Office of Personnel Management saw an uptick in its retirement claims backlog in July after it broughtthe inventory down to its lowest point in the year just a month before.

The inventory of unprocessed retirement claims stands at 17,091, about 4,000 claims away from the agencys own steady state benchmark for its backlog.

OPMmade steady progress in reducing its claims backlog since February, when the backlog spiked at more than 23,000, the highest accumulation of claims since at least October 2015. The agency in June had brought the backlog down to 14,530 claims, the lowest point in 2017.

Processing times remained mostly unchanged since June. So far in fiscal 2017, OPM has processed 55 percent of claims within its 60-day standard timeframe, and in the month of July, the agency processed 59 percent of claims within the 60-day window.

Download our free ebook to find out how agency CIOs and CHCOs implementing the president's reorganization executive order.

It took OPM 98 days on average in July to process claims that took longer than its 60-day benchmark, one day shorter than the average calculated in June.

So far, OPM has followed the pattern that playsout every year, where the agency sees retirement claims peak in January and February since they are the most popular months for federal employees for retire thenspends the spring and summer months driving down the backlog, when fewer workers retire.

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OPM sees retirement claims backlog uptick in July - FederalNewsRadio.com

Danny Monteverde, WWLTV 1:35 PM. CDT August 08, 2017

Cedric Grant

NEW ORLEANS -- Sewerage & Water Board Executive Director Cedric Grant, who came under fire in recent days after he blamed two weekend flood events on global warming, announced Tuesday he will retire this fall.

He said that information he learned in the last day indicated that some parts of the drainage system did not work as designed. "It contradicts information that I was given to provide to the public. Our staff was not forthright, which is unacceptable."

Watch live: City Council holds special meeting to discuss response to weekend flooding:http://www.wwltv.com/news/local/watch-live-1-pm-city-council-meeting-about-flood-response/462819677

On Monday, S&WB officials first said seven of the 121 pumps were not working. They later said eight were offline.

"Rather than be a distraction to the hard work of fixing the system, earlier today, I notified the mayor of my retirement later this fall," he wrote in a prepared statement. "It is also clear to me that there are additional personnel actions that are needed to restore confidence in this organization. I look forward to helping our Mayor, this Council and the Board identify what specifically needs to be done to rebuild this organization and our critical infrastructure."

Stay with Eyewitness News on WWL-TV and WWLTV.com for more on this breaking story.

2017 WWL-TV

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Cedric Grant announces retirement from S&WB - WWL

Determining a Target Retirement Saving Rate

A secure retirement is one of your goals, right? The worksheet in this video can help you get there.

When setting up your budget, it is important to include retirement savings. You can save through a retirement plan at work, on your own, or both. The target retirement savings rate tool will help you determine how much you need to save each year. The sooner you start saving, the longer your savings have to grow.

The worksheet will help you estimate what percentage of your current annual salary you should be saving. While it does not take into account your unique circumstances, it will help you plan for your retirement goals.

The worksheet asks for four pieces of information:

The worksheet assumes that youll need to replace about 80 percent of your pre-retirement income. Social Security retirement benefits should replace about 40 percent of an average wage earners income after retiring. This leaves approximately 40 percent to be replaced by retirement savings. Keep in mind, this is an estimate and you may need more or less depending on your individual circumstances.

The more years you have until retirement, the less you will have to save each month to reach your goal. No matter your age, for every 10 years you delay starting to save for retirement, you need to save 3 times as much each month to catch up.

Based on current estimates, a 65 year old man can expect to live approximately 18 years in retirement, and a 65 year old woman can expect to live about 20 years, but many people live longer. Planning to live well into your 90s can help you avoid outliving your income.

The worksheet takes into account some factors that impact your retirement savings. First, investing - because it involves risk. Second, inflation - because todays dollars will usually buy less each year as the cost of living rises. Your target savings rate includes any contributions your employer makes to a retirement savings plan for you, such as an employer matching contribution. If, for example, you are in a 401(k) plan in which you contribute 4 percent of your salary and your employer also contributes 4 percent, your saving rate would be 8 percent of your salary.

By using the worksheet, youve figured out your target savings rate. It gives you a rough idea a savings goal. Some may face higher expenses in retirement because of personal circumstances. For example, if you or your spouse have a chronic medical condition, you may want to save more. Some may have other sources of income in retirement such as a traditional pension or money from selling a home that would lower their target savings rate.

If you are not currently saving this amount, dont be discouraged. The important thing is to start saving even a small amount and increase that amount when you can. Come back and update this worksheet from time to time to reflect changes and track your progress.

Here are a few tips on how to save smart for retirement:

To track other resources you may have in retirement, start by getting your Social Security statement and an estimate of your retirement benefits on the Social Security Administrations website, http://www.socialsecurity.gov/mystatement.

The online interactive target retirement savings rate worksheet and other financial planning worksheets are available on EBSAs website: http://www.dol.gov/ebsa. You can save your worksheet data there so that you can come back to update it to track progress or adjust for changes.

You can order a free copy of the Savings Fitness publication or contact a Benefits Advisor with questions electronically at askebsa.dol.gov or by calling toll-free 1-866-444-3272.

Get started today for a secure financial future!

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Retirement | USAGov

I've written many articles before designed to help readers identify their ideal retirement age. And it's not uncommon for folks to attempt to nail down a specific retirement age to work toward.

But here's the problem with that approach: While there are certain key ages for workers to know about (which we'll review in a minute), trying to determine the right age to retire when you're younger is a bit like narrowing down exactly what you want to have for dinner three weeks from today. Maybe you'll be in the mood for Italian; or perhaps you'll end up craving sushi. Though it's a good idea to have a general sense of when you want to retire, focusing on the age itself isn't necessarily the best approach -- because you never know how your finances are going to look, and how you're going to feel, once that age arrives.

IMAGE SOURCE: GETTY IMAGES.

When we talk about retirement, there are certain key ages that tend to come up as part of that discussion:

Now that you know the significance of the above ages, let's talk about why it may very well be that none of them are the right time for you to retire. As you probably know, many of the expenses you incur during your working years don't go away in retirement. Once you stop working, you'll still need a roof over your head, a means of transportation, food, clothing, and the like. And while some of these costs might drop later in life, you may come to find that other expenses of yours go up.

Take healthcare, for example, which, according to recent projections, will cost the average healthy 65-year-old couple today $400,000 or more throughout retirement. Then there's leisure. Though it's certainly not a necessity, once you're retired and have oodles of free time on your hands, you'll need a means of occupying it. It therefore stands to reason that you may spend more on entertainment as a senior than you did during your working years.

The point here is that retirement costs money, and while Social Security can help cover some of your expenses, your benefits will only suffice in replacing roughly 40% of your pre-retirement income. Most seniors, however, need a minimum of 80% of their former earnings to pay the bills, especially when you factor long-term care into the mix.

It's easy enough to say that you'd like to retire at 65, or 67, or whatever age you feel works for you. But the fact of that matter is this: If you haven't saved enough by that age to cover your senior living costs, it's not the right time.

While a big part of being ready for retirement boils down to money, there's a mental component as well. Going from working full-time to being completely obligation-free is a huge adjustment, and it's not one to take likely. You might think you'll be ready to leave the workforce behind at, say, 66, but what happens if at that point in your career, you're still enjoying what you do and managing your routine just fine? Does it really pay to retire, in that case, even if you can technically afford to do so?

While it's a good idea to map out a plan for retirement, and think about when you might pull the trigger, rather than get hung up on a specific age, it pays to focus on your financial and emotional readiness. In other words, think about how much savings you'll need to retire comfortably, how you'll spend your time, and at what point you think you'll be ready to leave your career behind you. And then, once you're in the right position to check all these items off your list, go ahead and retire, whether you're 63, 73, or 83.

Of course, you'll want to keep the above milestones in mind, because they could have financial implications that help or hurt you in retirement. For example, retiring and then filing for Social Security at age 62 will slash your benefits, and it'll also mean no Medicare coverage for three years. But as long as you understand the consequences of retiring at various ages, you don't necessarily need to set one in stone.

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Here's Why You Shouldn't Bother Narrowing Down a Retirement Age - Motley Fool

Parenting was once described to me as "the most wonderful, financially devastating thing that you'll ever do to yourself." Raising kids is an expensive endeavor, and then there's college to think about, usually just as you're nearing a crucial stage in your own retirement planning. Should you save with your kids in mind or focus on your own needs? With some careful planning, you won't have to choose.

The days of affordable education are gone. Since 1978, the cost of attending college has increased by an astounding 1,225%. According to the College Board, tuition and fees for the 2016-2017 school year for a public, four-year university averaged $9,650 for in-state students and $24,930 for out-of-state, and private university students paid $33,480.These numbers aren't slowing down: By 2037, analysts estimate that a four-year degree will cost nearly $500,000, assuming a conservative 5% annual increase in education expenses.

image source: getty images.

The outlook on retirement living isn't much brighter. A couple who retired in 2016 will need almost $750,000 to cover expenses and healthcare costs, and even then, this number breaks down to just $2,000 in income per month. Assuming you'd like to maintain a higher standard of living, you'll need to save much more. A 35-year-old earning $75,000 per year now would need at least $3.3 million by retirement to produce the same income on an inflation-adjusted basis.

Image source: Getty Images.

The hefty costs of education and retirement may have you feeling defeated, but when it comes to long-term savings, time is on your side. Compounding returns on your investments can significantly increase your savings, but it's important to get started sooner rather than later.

For college savings, the average 18-year timeline begins the moment your little one arrives, but that doesn't mean you should redirect your income immediately. Before stashing money away for Junior's education, it's important to pay down debts that affect your immediate finances and credit health. These might include credit card balances, medical bills, and your own student loans. It's also wise to have extra cash in your savings account for emergencies.

Image source: Getty Images.

As tough as it is for parents to hear, college is an optional expense, and retirement savings are more important. The rising cost of living and the uncertain future of Social Security are just a couple reasons why retirement income is imperative, and you can't afford to waste time. For instance, $10,000 invested today with a 7% return will yield $76,123 in 30 years, while the same amount would only grow to $38,697 if you wait 10 years before getting started.

Image source: Getty Images.

For most families, investing in one goal usually means making sacrifices elsewhere. That said, prioritizing retirement doesn't mean de-prioritizing college savings by taking it off the table. With your timelines in place, now is the moment to strike a balance between your investments.

Financial aid, scholarships, and grants are great ways to deal with college costs. In addition, consider these basics:

Image source: Getty Images.

Image source: Getty Images.

Image source: Getty Images.

Although it's wise to save for retirement before college, it's not always that simple for Mom and Dad.If you're still set on contributing as much as possible for your kids' education, there are ways to make up for lost time in retirement savings, including:

Image source: Getty Images.

image source: getty images.

Some families have gone to extra lengths to find creative ways to earn and invest. Your options include:

image source: getty images.

Image source: Getty Images.

Saving for life's big changes isn't easy, but it's possible with the right tools. Find your motivation and consider your options with a fresh perspective.

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Should You Save for College or Retirement? - Motley Fool

It's not a good sign if you don't have any colleagues over age 65, and the company doesn't have any age-friendly policies or initiatives in place. A company or industry that is consolidating or struggling can also be a red flag, he said.

Nearly half of retirees leave the workforce earlier than planned, according to the 2017 Retirement Confidence Survey from the Employee Benefit Research Institute and, of those, 26 percent cite changes at their company such as a downsizing or closure. In the TransAmerica survey, 12 percent of companies said they had employees who recently retired as a result of a layoff or termination, and 15 percent, due to organizational changes.

(Don't forget about personal risk factors, either. In the EBRI pool of workers who retired earlier than planned, 41 percent did so due to health problems or disability, and another 14 percent, to provide care for a spouse or other family member.)

Expand your plan to consider options such as creating a consulting business, or making a career pivot, Beck said. That can pay off: A recent paper from the Center for Retirement Research at Boston College found that workers who voluntarily change jobs in their 50s tend to stay in the workforce longer than those who stay put.

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How to gauge your chances of a phased retirement - CNBC