I admire your optimism. At a time when many, if not most, investors are fixated on market volatility and worried about losing their shirts should the market melt down in the not-too-distant future, you're thinking about saving and investing for the long-term.

But as much as I like your upbeat outlook, I think you also need to temper it with some realism. Ending up with a $1 million IRA, traditional or Roth, isn't a pipe dream. A General Accounting Office report released last year found that some 630,000 IRAs had balances greater than $1 million. But the GAO also found that 99% of IRAs had balances below the $1 million mark, with a median account balance of just $34,000.

And the IRAs that did have seven-figure balances weren't funded solely by yearly contributions. The balances included money inherited from other IRAs as well as money that had been rolled over from 401(k)s and defined-benefit plans. Indeed, the GAO notes that it would have required double-digit returns greater than the Standard & Poor's 500-index actually delivered to hit the $1 million mark from annual IRA contributions alone.

I think it's fair to say that this isn't a goal you should expect to reach quickly, especially considering that you are starting to fund an IRA at a time when some experts are predicting subpar returns. ETF guru Rick Ferri has forecast a 7% annual long-term return for stocks and roughly 4% for Treasury bonds, assuming 2% inflation.

If you make the current $5,500 IRA maximum contribution every year and earn a 6% return each year, it would take 42 years for your IRA balance to reach $1 million. You'd actually get there several years sooner, assuming you contribute the IRA maximum as it increases with inflation and also begin making catch-up contributions (an additional $1,000 a year currently) once you hit age 50. Either way, we're talking about a very long time.

But while your $1 million goal may be daunting, that doesn't mean it's not achievable, or that you shouldn't try. The key is to go about it the right way.

Your main focus should be on saving as much as you can. Assuming you have sufficient income and the discipline to save, there's no reason you should limit yourself to funding just an IRA. In fact, by expanding your savings effort to a workplace plan such as a 401(k), where annual contribution limits are a lot higher ($18,000 this year, plus a $6,000 catch-up for people 50 and up), you can build a bigger balance much more quickly, and roll that money into an IRA later on.

For example, if you fund both a 401(k) and an IRA to the current max not including catch-upsi.e, invest $18,000 in a 401(k) plus $5,500 in an IRA for a total of $23,500 a yearyou would have a $1 million combined balance in 22 years, assuming a 6% annual return. That's too ambitious a savings goal for most people. And even if you could manage it, you would also want to confirm you're eligible to fund both an IRA and a 401(k) without resorting to the "back-door" route to a Roth IRA, which you can check by going to Morningstar's IRA Calculator. But the idea is that you'll have a larger balance and increase your odds of getting to seven figures if you save more than the IRA contribution limit.

The way you invest your savings will also determine the eventual balance of your IRA. Clearly, higher returns will lead to a larger balance more quickly. For example, if you earn 8% a year instead of 6%, it will take you 35 years instead of 42 to achieve a $1 million balance investing $5,500 a year in an IRA, and 19 years instead of 22 if you invest a combined $23,500 a year in a 401(k) and IRA.

Related: An investing strategy for a $1 million retirement nest egg

But earning more on your savings isn't just a matter of dialing up a higher return. You've also got to take more risk, and that increases the volatility of your portfolio and raises the possibility that your balance could get hammered if the market nosedives. If you panic and sell during such a meltdown, you could very well end up with a lower return than you would have earned with a less aggressive strategy.

A better approach: go with a portfolio that will give you a shot at realistic gains but you'll also be comfortable sticking with during major market setbacks. You can create such a portfolio by completing a risk tolerance test. Vanguard offers an asset allocation-risk tolerance tool that will recommend a mix of stocks and bonds based on your answers to 11 questions designed to gauge the level of risk you're comfortable taking. The tool will also show you how the recommended portfolio, as well as others more conservative and more aggressive, performed in both good and bad markets, so you can decide which is the best fit for you.

Related: 2 ways to a more secure retirement

As for choosing investments for your portfolio, I recommend you focus mostly, if not exclusively, on broadly diversified low-cost index funds or ETFs, many of which charge just 0.20% of assets or less in annual expenses. The reason is simple. The less of your return you give up to fees, the more quickly your savings are likely to grow, and the more likely you'll reach your ambitious goal.

One final note: For whatever reason, you seem to have decided to do a Roth IRA. You should know, however, that a Roth isn't automatically a superior option just because qualified withdrawals are tax-free. Generally, a Roth is a better deal than a traditional IRA if you expect to be in the same or higher tax bracket when you withdraw your contributions and investment earnings in retirement. But if you think you'll face a lower marginal tax rate in retirement, you may be better off doing a traditional IRA. Given that it's difficult for most people to tell what tax rate they'll face many years in the future, it can make sense to hedge your bets by keeping some money in both Roth and traditional accounts.

The most important thing, though, is to save diligently and invest whatever you manage to save in a portfolio you'll be able to stick with whether the market is soaring or slumping. Do that, and you'll know you've taken your best shot at achieving a secure retirement, even if you fall short of your $1 million goal.

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CNNMoney (New York) September 30, 2015: 9:41 AM ET

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How to save $1 million for retirement using an IRA - Sep. 30 ...

9/16/2015 PA SERS Approves New Investments Reports Quarterly Investment Performance The Board of the Pennsylvania State Employees' Retirement System today approved four investments and announced the fund's investment performance through June 30.

8/14/2015 Gov. Wolf Appoints Chairman Gov. Tom Wolf has appointed David R. Fillman as Chairman of the Board for SERS. Mr. Fillman has been serving on the SERS Board for the past 14 years.

Mr. Fillman replaces Glenn E. Becker, whose term expired in May. Mr. Becker will continue to serve the SERS Board.

7/9/2015 Pension Reform Update Earlier today, Governor Tom Wolf vetoed Senate Bill 1, which would have instituted retirement benefit changes for current and prospective SERS members.This veto was in addition to his recent veto of the 2015-16 General Fund Budget.

If you are a current SERS member who has not yet retired, please know that SERS will continue to monitor legislation that could affect your future benefits and notify you of any important information.

If you are a SERS retiree, rest assured that your annuity payments will continue as scheduled and are unaffected by any budget negotiations and impasse.

More Press Releases

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Pennsylvania State Employees' Retirement System

Overall If you have been thinking about making a move to one of the best places toretire in Pennsylvania we can help you make an informed choice. This website will give you useful information about the best places to retire in Pennsylvania, including the top active adult retirement communities. Pennsylvania, the Keystone state, had just under 12.8 million people in 2012. It has two large cities, Pittsburgh and Philadelphia; many mid-sized cities like Erie and Lancaster; and many small towns and rural areas. The north central portions of Pennsylvania tend to be sparsely populated and offer excellent outdoor recreation. PA has 50 miles of coastline on Lake Erie. The Wikipedia entry for Pennsylvania has more facts.

Pennsylvania Climate The Pennsylvania climate is called humid-continental. There are 4 seasons. Summers are hot and winters are cold with frequent snowstorms. The northwestern part of the state experiences lake-effect snowstorms from Lake Erie.

Economy & Home Prices Pennsylvania's 2011 per capita income, $27,824, was near the United States average. Median home prices are usually much less expensive than in rest of the U.S. The median home in the Erie area sold for $104,700 vs. the national median of $176,600 in the first quarter of 2013. In the Philadelphia area the median home goes for $197,700. Wealthy suburbs around Philadelphia are much more expensive, although the statewide median was $138,000 in early 2012.

Pennsylvania Taxes

Tax Burden:Pennsylvania has much higher than average tax burden - at 10.2% it is the 11th highest in the nation.When it comes to taxation of retirees, however, its reputation as a high tax state is not exactly accurate.

Marginal Income Tax Rates.When it comes to taxable income, PA has one of the lowest income tax rates - a flat rate 3.07% (although in certain towns there are additional income taxes).

Retirement Income Exemptions.Military incomes are not taxed.Commonly recognized pension, old age, or retirementbenefits paid after becoming eligible to retire, and retiring are not taxable.

Social security exemption.Social security is not taxed.

Sales Tax:State sales tax is 6%.

Property Taxes:Property taxes are one reason why the state has a reputation as a high tax state.

Miscellaneous Taxes.PA has one of the highest gasoline taxes.

Estate and/or Inheritance Taxes.Pennsylvania is one of 7 states that collects an inheritance tax.

Linkto Pennsylvania Department of Revenue

Certified Retirement Communities Pennsylvania does not have a certified retirement community program.

Best retirement communities in Pennsylvania Pennsylvania can be a great state for active adults and people over 50. It has a very low cost of living and many livable cities and small towns. Some of the best places for retirement in Pennsylvania are its charming small college towns like Carlisle, Lewisburg, Meadville, Titusville, Lancaster, and Swarthmore. Located in State College is one of the newer phenomemons in retirement living, a university related retirement community, The Village at Penn State. Pittsburgh is not only a great bargain but it is a livable city that is enjoying a renaissance. It has been singled out as America's 8th most literate city. Philadelphia offers an excellent urban retirement with plenty to do and places to live.

Free eBook - Baby Boomers Guide to Selecting a Retirement Community - 16 Factors Download this free eBook and use its fun exercises to help you find your perfect active adult retirement community.

Click on the Pennsylvania retirement town reviews on the right to find out more.

Link:
Pennsylvania retirement guide - Topretirements.com

Retirement planning is very complex and varies by individual. The following 4 retirement calculators are designed for different retirement planning situations financially.

This calculator gives out saving guideline based on your retirement saving target.

If you have your own retirement saving schedule, this calculator estimates the amount you can withdraw every month once retired.

If you are retired or close to retirement, this calculator estimates how long your retirement saving lasts based on the amount you plan to withdraw every month.

Retirement occurs when people end employment completely. Some people may "semi-retire" by decreasing their work hours. The retirement age varies for different countries, but it is generally between the ages of 55 and 70. Also, the age is different for males and females in some countries. Most people choose to retire when they are ready, but some are forced to retire due to various reasons, mostly due to illness or disability.

One of the most important factors that affect the decision to retire is whether a person is financially "ready" to retire. Planning for retirement means making sure that you will have enough income to live on comfortably when you decide to stop earning your own living. In general, wealthy people tend to retire earlier.

Today, the amount required to save for a comfortable retirement is considerably larger than it was for the Baby Boomer generation. Experts now suggest that you should save at least eight times your salary at the end of your career to make sure that you will have enough to live on through many years in retirement. In the United States, more than 60% of workers believe that they will need to save at least $500,000 before they can retire. Yes, that is a great deal of savings, so you should start as early as possible, making use of the best retirement savings plans, and keep it up without interruption.

In most situations, people financially rely on the following programs after retirement:

Social Securitythis is a social insurance program run by the government to provide protection against poverty, old age, disability, etc. In the United States, approximately one-third of the working population expect Social Security to be their major source of income after retirement. Conversely, more than 50% of retirees expect Social Security to be their major source of income.

Pensionmost public servants in the United States are not covered by Social Security, but by pension programs. Some private employers also provide pension benefits.

Retirement Savings Plansthis normally refers to 401Ks and IRAs (Individual Retirement Accounts) in the United States. These are the savings from personal income, including tax benefits. Many employers also provide a 401K "match" on top of an employee's personal contribution.

Investment Incomethis is income such as stock dividends, real estate rental income, bank savings account interest, and so on.

Personal Savingsthis is the money you save in your bank, such as saving accounts, CDs (Certificates of Deposit), checking accounts, etc.

To financially plan your retirement, please use this retirement calculator to estimate each source of income listed above and add them up.

One reason people tend to underestimate their retirement saving needs is that they fail to properly account for the impact of inflation. We live at a time when inflation is relatively low, and so we do not perceive its effects. But inflation accumulations bit by bit; prices go up in one area like foodstuffs, and later in another like housing. Over a period of years these price increases can have a profound effect on how much money you will need in retirement.

Remember that inflation won't stop once you retire. Prices will keep going up over that 25 to 30 year period. So you must take into account the continuing erosion of spending power that will take place. You have to bear in mind that every $100,000 you have saved up may only have a real worth of $70,000 when you retire, and even less five years later. The average inflation rate in the United States for the past 30 years has been around 4.3%. Please check the Inflation Calculator for more information.

It's important to make use of the best instruments available to save for retirement. You will have your social security, of course, but we are warned that it will deliver less in the future. Some workers, particularly government employees, have pension plans. Then you should get started as early as possible with Retirement Savings Plansthis normally refers to 401Ks and IRAs (Individual Retirement Accounts) in the United States. The former calls for defined contributions from your salary that are matched by your employer, and both remain free of tax while you keep the money in the plan. The latter allows you to make tax-exempt savings contributions. You should also make use of CDs and money-market accounts for risk-free savings at the best interest rates available.

All of this will help you to beat inflation in the long term, and the retirement calculator will help you to determine how much your money will be worth.

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Calculator Retirement

This Google translation feature is provided for informational purposes only.

The New York State Office of the State Comptrollers website is provided in English. However, the Google Translate option may help you to read it in other languages.

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NYSLRS - New York State & Local Retirement System

About Retirement Planning Services:

Retirement Planning Services manages the pension fund, maintains the general ledger and related books of the Milwaukee County Employees 'Retirement System' (ERS).

The retirement division administers the Milwaukee County pension payroll, conducts retirement seminars, prepares estimates and processes benefits for retirees, accidental, ordinary or survivor members.

Retirement Planning Services Information Sessions:

Retirement Planning Services offers information sessions for all employees planning to retire before the end of the year.

Please see your departmental payroll clerks directly with any concerns or questions.

For dates and location, please call the general information line (414) 278-4207.

A Toll-Free Number for Retirees Needing Customer Service:

Milwaukee Countyhas a toll free number that retirees can call to have questions answered about general and personal retirement issues.

Please feel free to call any time during normal business hours:

Milwaukee County is an equal opportunity/affirmative action employer that is actively seeking qualified applicants for various positions throughout County government. Milwaukee County does not discriminate based on age, ancestry/national origin, arrest/conviction record, color, creed, disability, marital status, military membership, race, sex or sexual orientation.

If special accommodations are needed, please contact 414-278-4143

Link:
Retirement - Milwaukee County Courthouse

Retirement Benefits Overview:

The Employees' Retirement System of the County of Milwaukee (The 'Retirement System') was created to encourage qualified personnel to enter and remain in the service of the County of Milwaukee (The 'County') by providing for a system of retirement, disability and death benefits for its employees. The Retirement System was created by Section 201.24 of the General Ordinances: (The 'Ordinance' of the County) The authority to manage and control the Retirement System is vested in the Pension Board.

The Pension Board consists of nine members - three members appointed by the County Executive (subject to confirmation by the County Board of Supervisors), two members appointed by County Board Chairman (subject to confirmation by the County Board of Supervisors), three employee members elected by the employee participants and one retiree member elected by retired participants.

The following discussion is a brief synopsis of the various regulations:

Please keep in mind that this is a technical area which is regulated by Federal and State laws, Milwaukee County Ordinances and labor contracts.

If you need further clarification, please contact the Retirement Division.

Eligibility and Enrollment:

Some employees are excluded from membership in ERS:

All Milwaukee County employees who are hourly without a scheduled workweek and employees paid on a per call or fee basis, seasonal employees, emergency appointments (EA), athletic officials, student workers, interns, trainees, non-civil service positions including resident physicians, members of boards and commissions (except members of the County Board of Supervisors) are not eligible to receive an ERS retirement benefit.

Required Contribution- Account Balances:

Members shall not be eligible to receive a refund of the portion of the membership account attributable to employee contributions if the member's employment with the County was terminated due to fault or delinquency on the member's part or if the member or a beneficiary of the member is eligible, at the time the request for a refund is made, for the present receipt of any monthly annuity benefit under Ordinance sections 201.24(4.1), (4.5), (6.1), (6.2), (6.4), (7.1) or (7.2).

Membership Account balance includes the employee contributions made to ERS during employment with Milwaukee County; at termination a member can leave their funds in the plan or they may withdraw their contributions.

If a member terminates and does not request to withdraw their contributions, their prior employee contributions will remain in ERS and they will maintain the membership in the plan. If vested, the member remains eligible for a benefit according to the terms of the ERS Ordinances and Rules.

If a member terminates and is not vested in a pension benefit, and does not return to service with Milwaukee County and become vested according to the requirements of the ERS Ordinances and the balance of the Membership Account will be forfeited and the member will not be entitled to a pension benefit under this plan at any time. A member can elect to receive a distribution of the balance of my ERS Membership Account under the terms of Milwaukee County Ordinance section 201.24(3.5).

By cashing out their Membership Account, any service credit under ERS is terminated and ERS membership will cease resulting in no further right to any benefit under this plan.If the terminated member returns to County employment and accrues new service, any benefit received will be based only on the new service accrued.

This termination of service credit and future pension benefit applies even if I am vested in a pension benefit or become vested in a pension benefit in the future and would otherwise receive a pension benefit under the terms of the Ordinances and Rules.

The election to withdraw Membership Account balances must be made within 180 days after termination of employment and is irrevocable once made.

If an election is not made within 180 days after termination of employment, the Membership Account will be maintained with ERS.

Pension Benefits:

The pension amount is determined by the following formula:

For most members, the normal retirement age is either 60 or 64 depending on ERS enrollment date and collective bargaining agreement. A few labor agreements also require a minimum of 5 years creditable service in addition to the age requirement.For deputy sheriff members, the normal retirement age is 57 or age 55 with 15 years of creditable service.

Depending on enrollment date and collective bargaining agreement, some active members are eligible to retire when their age added to their years of creditable service equals 75 (the Rule of 75). The multiplier is determined by Ordinance, collective bargaining agreement and ERS enrollment date:

A members 3 or 5 consecutive years of highest earnings are used to calculate their final average salary as defined by Ordinance and labor agreement.

Annually after retirement the monthly benefit is increased by 2% of the benefit paid for the first full month of retirement.

By Ordinance, the maximum benefit (excluding post-retirement increases) payable to a member cannot exceed the sum of 80% of the members final average monthly salary.

An ERS member who meets the requirements for an accidental or ordinary disability retirement benefit is entitled to an amount computed in the same manner as a normal pension but not less than 60% of the members final average salary for accidental disability. A total of 15 years of creditable service is required to apply for ordinary disability.

A member who is 55 years of age and has 15 years of credited service may elect to receive early reduced retirement benefits.

Vesting is defined as the right to a pension benefit.(The current vesting requirement is 5 years of credited service for most employees and 10 years of service for Deputy Sheriffs.)

Members who terminate Milwaukee County employment after becoming vested but before they are eligible to receive a benefit are known as deferred vested.

Deferred vested members can receive pension benefits beginning the month following attainment of normal retirement age.

Survivor Benefits:

Upon the death of an active ERS member who is not yet eligible to retire (and usually after one year of service depending on labor agreement), the surviving dependent spouse with one dependent child (as defined by Ordinance) will receive 40% of the deceased participants salary offset by an amount equal to Social Security benefits payable to the spouse.

An additional 10% of salary, offset by Social Security, is paid for each dependent child.

The total benefit, if there are more than five eligible dependent children, generally cannot exceed 90% of salary including Social Security benefits.

Upon attaining age 60 (if not remarried), the dependent spouse will receive 50% of the normal retirement benefit considering projected service to the time the deceased employee would have attained age 60.If there is no dependent spouse or child, the death benefit payable to a designated beneficiary is equal to 50% of the deceased participants final average salary, but not to exceed $2,000.

In order to receive lump sum benefits, you will be asked to complete a beneficiary designation form upon enrollment in ERS.

Please remember to keep your beneficiary designation current.

Special survivor provisions cover Deputy Sheriffs if their death occurs as a result of an accident in the actual performance of duty.

Military Service Credit:

ERS members may qualify for additional pension service credit for time served in the United States Armed Forces between January 1, 1938 and December 31, 1974.

The maximum military credit (or fractions thereof) is four (4) based on total County pension service credit upon retirement as follows:

5

Up to 1

10

Up to 2

15

Up to 3

20

Up to 4 (maximum)

Military service credit cannot be used toward determining pension service credit required for vesting or retirement.

To request for military service credit, you will need to complete an application form and provide a copy of your Form DD214 (military discharge).

Application forms are available from the ERS office.

OBRA:

The OBRA 1990 Retirement System of the County of Milwaukee (known as OBRA) was established to provide retirement benefits for temporary, seasonal and other non-traditional employees who do not elect to enroll in ERS.

The OBRA system is non-contributory.

OBRA members are immediately vested and earn a benefit equal to 2% of their covered salary for each year of OBRA service.

Benefits are payable at age 65.

OBRA has no provision for death, survivor or disability benefits.

Milwaukee County is an equal opportunity/affirmative action employer that is actively seeking qualified applicants for various positions throughout County government. Milwaukee County does not discriminate based on age, ancestry/national origin, arrest/conviction record, color, creed, disability, marital status, military membership, race, sex or sexual orientation.

If special accommodations are needed, please contact 414-278-4143

Read more here:
Retirement Benefits - County of Milwaukee

If you are considering making the military a career or you have already made that decision, and just want to know more about your benefits then this will be of special interest to you.

This article looks at the current Military Retirement Systems and the choices facing most today's active duty members. The following is a summary of what you need to know regarding Military Retirement Systems:

The military retirement system is arguably the best retirement deal around. Unlike most retirement plans, the Armed Forces offer a pension, with benefits, that starts the day you retire, no matter how old you are. That means you could start collecting a regular retirement pension as early as 37 years old. What's more, that pension check will grow with a cost of living adjustment each year.

However there are many factors that determine exactly how much your pension (technically a reduced payment for reduced service) will be. Over the past twenty five years, the government has made some significant changes to the military retirement system.

If you entered the service:

All of these retirement systems have a common thread: if you stay in the armed forces for 20 or more years, you are eligible to receive a pension based on a percentage of your basic pay, and if you stay in for a40 years, you are eligible for 100% of your basic pay. But that's where the similarities end and the confusion really begins, because each of these systems determines your amount of pension differently.

There are four major differences between the retirement systems. If you joined the military after August of 1986 you especially need to thoroughly understand these differences, because when you reach the 15 year mark in your military career you will have to make a choice of a lifetime about which plan you want for yourself.

The major differences are the basis for determining your highest earnings, the multiplier, the Cost of Living Adjustment, and the Career Status Bonus.

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Although you have no choice in the basis for calculating your retirement pay, it is a very important detail. For instance the Final Pay retirement system bases the amount of pension on a member's last month of pay.

For Example: if you retired at twenty years of service on the final Pay retirement system, you received 50% of your final months pay as your pension, and that percentage increases by 2.5% for each additional year of service.

Under the High 36 system a member's pension is based on the average of the highest 36 month's base pay. So if you retire under the High 36 system you would get 50% of your highest 3 years (36 months) average base pay plus 2.5% added on for every year of service over 20 years.

Under the CSB/REDUX system a member's pension is based on the average of the highest 36 month's base pay like above, but the main difference is that you will get 40% of your highest 3 years (36 months) average base pay plus 3.5% added on for each year of service between 21 - 30 years, and 2.5% added on for each year of service between 30 - 40.

The multiplier is the percentage of your base pay you receive for each year of service. For the Final Pay and High 36 systems you earn 2.5% per year of service. That means you get 50% for 20 years of service up to a maximum of 100% for 40 years.

The multiplier for the CSB/REDUX system is 2% per year for the first 20 years, but you get an increase to 3.5% for each year of service between 21 - 30 years, and 2.5% added on for each year of service between 30 - 40. That means you get 40% for 20 years, but up to 100% for 40 years. That is a significant difference.

Note: Although rare, those who stay in past 40 years can continue to increase their retirement rate beyond 100%.

Learn more about how your Retired Pay is Calculated including a link to calculators to help you determine your retirement pay.

All three retirement systems have an annual cost of living adjustment. This is a subtle, yet very important detail. Over the lifetime of your retirement the cost of living adjustment could more than double your retirement check.

The COLA for the final pay and high 36 systems is determined each year by the national Consumer Price Index. But the COLA for the CSB/REDUX retirement system is the Consumer Price Index minus 1%.

Note: There is one more twist to the COLA for the CSB/REDUX retiree. At age 62 the COLAs and multiplier are readjusted so that the High 36 and CSB retirees get the same monthly pay.

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Now the CSB/REDUX system gets a bit more complicated. Under this latest system when you reach your 15th year of service, you must choose between taking the "CSB/REDUX" with a $30K cash bonus (approximately $21K after taxes) and a 40% pension check, or the High 36 retirement system with no bonus and a 50% pension check. This is a huge decision and cannot be made without some serious consideration and a clear understanding of the details.

Part 2 - Factors to help you make the choice of a lifetime!

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The Military Retirement System | Military.com

Since there will always be things threatening the market, it is important that employees focus on the items they can control, such as how much they are saving and their asset allocation, based on their time horizon and tolerance of risk.

Lenny Sanicola

Total rewards professional, blogger, author, passionate about employee benefits & employee well-being

Check the fees yourself. Don't just leave it to someone else. Even the best fund managers may do strange things with fees that you only find out about in letters most people don't bother to read.

As a child, we all dreamed about what we wanted to be when we grow up. And now as we near retirement, it's time to dream about our future once again.

Buck Wargo

Buck Wargo, Sr. Editor | NowItCounts.com

As America's baby boomers continue to age and look forward to longer and longer life spans, they are setting their sights on retirement and making their U.S. dollars last as long as possible.

Taniel Chemsian

Puerto Vallarta-based real estate professional and personality on HGTV's "House Hunters International"

We have six grandchildren now ranging from one month to 11 years old, with another due in four months. So what's wrong with us? Are we cruel and heartless grandparents, who don't care about our kids or their kids?

With people remaining healthy and vibrant well into their 60s, the once-mandatory retirement age of 65 no longer makes sense. Those able to continue working benefit greatly from the positive health improvements that comes with keeping their minds engaged.

Sherwin Sheik

Founder & CEO of CareLinx, an online nationwide marketplace that directly connects families with professional and affordable caregivers

Average investors who buy mutual funds, insurance policies, annuities and other types of investments work under the assumption that their financial adviser is working in their best interests. This is a false assumption.

It seems like a silly notion, but we've seen it happen ... people move to some exotic location, like Ecuador or Panama, with perfect weather and interesting culture and, within a few months, find themselves at loose ends.

Regardless of political ideology, educators must reclaim their profession. I know you don't seek attention. You just want to teach, but it's time for a PR offensive of your own. It's time for the experts to drive the narrative, and below are five ways to do that.

Chester Goad, Ed.D.

Dr. Chester Goad is an author and speaker on learning, leadership, and life. Connect with him at chestergoad.com.

Since millennials don't know how much government support they will have during retirement, they need to start saving now. Here are a few good retirement savings tips: Pay off all debt first to avoid accruing interest and put money into an IRA automatically.

First comes love, then comes marriage, then comes figuring out what the hell to do about Social Security. Retirement planning can be quite complicated for anyone, but the newness of Social Security options for LGBT couples find some of us unprepared.

David Rae

Certified Financial Planner, AIF and fiscal fitness maestro, making dollars and sense for the LGBT community and friends for over a decade.

How financially stressed are you? Here are some major indicators of financial stress with suggestions for taking action.

Nathaniel Sillin

Nathaniel Sillin is the Head of Global Financial Education at Visa Inc.

Studies have shown that sizable numbers of business owners look to transfer their ownership interests in the next decade, and a major concern for many...

In one of the last weeks of my father's life -- though we had no idea at the time that he would be leaving us shortly as a result of a burst blood v...

The healthiest cities for retirement living are in the Pacific Northwest, Colorado and Minnesota, according to a new list that relegates all but one Sunbelt city below the top 20.

Buck Wargo

Buck Wargo, Sr. Editor | NowItCounts.com

For some, retirement still evokes images of a rocking chair on the porch. Some relaxation is OK, but the rocker isn't the best long-term answer for mind or body. Today's retirees are choosing active lifestyles. Many hold part-time jobs, pursue hobbies, and fulfill long-deferred dreams.

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Retirement : Pictures, Videos, Breaking News

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Financial security in retirement doesnt just happen. It takes planning and commitment and, yes, money.

Putting money away for retirement is a habit we can all live with. RememberSaving Matters!

If you are already saving, whether for retirement or another goal, keep going! You know that saving is a rewarding habit. If you're not saving, it's time to get started. Start small if you have to and try to increase the amount you save each month. The sooner you start saving, the more time your money has to grow (see the chart below). Make saving for retirement a priority. Devise a plan, stick to it, and set goals. Remember, it's never too early or too late to start saving.

Retirement is expensive. Experts estimate that you will need at least 70 percent of your preretirement income lower earners, 90 percent or more to maintain your standard of living when you stop working. Take charge of your financial future. The key to a secure retirement is to plan ahead. Start by requesting Savings Fitness: A Guide to Your Money and Your Financial Future and, for those near retirement, Taking the Mystery Out of Retirement Planning. (See below to order a copy.)

If your employer offers a retirement savings plan, such as a 401(k) plan, sign up and contribute all you can. Your taxes will be lower, your company may kick in more, and automatic deductions make it easy. Over time, compound interest and tax deferrals make a big difference in the amount you will accumulate. Find out about your plan. For example, how much would you need to contribute to get the full employer contribution and how long would you need to stay in the plan to get that money.

If your employer has a traditional pension plan, check to see if you are covered by the plan and understand how it works. Ask for an individual benefit statement to see what your benefit is worth. Before you change jobs, find out what will happen to your pension benefit. Learn what benefits you may have from a previous employer. Find out if you will be entitled to benefits from your spouse's plan. For more information, request What You Should Know about Your Retirement Plan. (See below for more information.)

How you save can be as important as how much you save. Inflation and the type of investments you make play important roles in how much you'll have saved at retirement. Know how your savings or pension plan is invested. Learn about your plan's investment options and ask questions. Put your savings in different types of investments. By diversifying this way, you are more likely to reduce risk and improve return. Your investment mix may change over time depending on a number of factors such as your age, goals, and financial circumstances. Financial security and knowledge go hand in hand.

If you withdraw your retirement savings now, you'll lose principal and interest and you may lose tax benefits or have to pay withdrawal penalties. If you change jobs, leave your savings invested in your current retirement plan, or roll them over to an IRA or your new employer's plan.

If your employer doesn't offer a retirement plan, suggest that it start one. There are a number of retirement saving plan options available. Your employer may be able to set up a simplified plan that can help both you and your employer. For more information, request a copy of Choosing a Retirement Solution for Your Small Business. (See below for more information.)

You can put up to $5,500 a year into an Individual Retirement Account (IRA); you can contribute even more if you are 50 or older. You can also start with much less. IRAs also provide tax advantages.

When you open an IRA, you have two options a traditional IRA or a Roth IRA. The tax treatment of your contributions and withdrawals will depend on which option you select. Also, the after-tax value of your withdrawal will depend on inflation and the type of IRA you choose. IRAs can provide an easy way to save. You can set it up so that an amount is automatically deducted from your checking or savings account and deposited in the IRA.

Social Security pays benefits that are on average equal to about 40 percent of what you earned before retirement. You may be able to estimate your benefit by using the retirement estimator on the Social Security Administration's Website. For more information, visit their Website or call 1-800-772-1213.

While these tips are meant to point you in the right direction, you'll need more information. Read our publications listed below. Talk to your employer, your bank, your union, or a financial adviser. Ask questions and make sure you understand the answers. Get practical advice and act now.

Visit the Employee Benefits Security Administration's Website to view the following publications:

To order copies, contact EBSA electronically at askebsa.dol.gov or by calling toll free 866-444-3272.

The following websites can also be helpful:

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Top 10 Ways To Prepare For Retirement