LONDON -- The last five years have been tough for those in retirement. Portfolio valuations have been hammered and annuity rates have plunged. There's no sign of things improving anytime soon, either, as the eurozone and the U.K. economy look set to muddle through at best for some years to come.

A great way of protecting yourself from the downturn, however, is by building your retirement fund with shares of large, well-run companies that should grow their earnings steadily over the coming decades. Over time, such investments ought to result in rising dividends and inflation-beating capital growth.

In this series, I'm tracking down the U.K. large caps that have the potential to beat the FTSE 100 over the long term and support a lower-risk income-generating retirement fund (you can see the companies I've covered so far on this page).

Today, I'm going to take a look at British Sky Broadcasting Group (LSE: BSY.L) , the satellite broadcaster with more than 10 million subscribers in the U.K.

Getting the picture

To start with, let's take a look at how BSkyB has performed against the FTSE 100 over the last 10 years:

Total Return

2007

2008

2009

More here:
Is BSkyB the Ultimate Retirement Share?

LONDON, Sept 24 (Reuters) - England manager Roy Hodgson has reluctantly accepted John Terry's retirement from internationals but said he was disappointed in the defender's decision.

Terry, who is due before a Football Association tribunal on Monday facing a charge of racially abusing Queens Park Rangers defender Anton Ferdinand, announced on Sunday he was quitting international soccer.

The former England captain, capped 78 times in an international career stretching back to 2003, said the impending case against him had made his position in the national team untenable as he was cleared in the criminal trial over the affair.

"I'd like to thank John Terry for his commitment to the England team since I became manager," Hodgson said in an FA statement.

"I am of course disappointed to lose a player of John's international experience and exceptional ability.

"I have enjoyed a good relationship with John during my time as England manager and I reluctantly accept his decision.

"I can also confirm that he had the courtesy to call me prior to announcing his retirement from the England team. I'd like to wish John well for the future with Chelsea."

If found guilty by the FA of abusing Ferdinand, Terry could face a lengthy ban similar to the eight-game suspension served by Liverpool's Luis Suarez last season for racially abusing Manchester United's Patrice Evra. (Writing by Toby Davis; editing by Mark Meadows)

Read more:
Soccer-Hodgson disappointed with Terry retirement decision

MONTREAL, QUEBEC--(Marketwire - Sept. 24, 2012) - Richmont Mines Inc. (RIC.TO)(NYSE Amex:RIC)(NYSE MKT:RIC), ("Richmont" or the "Corporation") is pleased to announce the early retirement, without penalty, of the CAN$10 million debenture held by Mr. Bob Buchan and two members of his immediate family.The retirement is effective immediately.

Mr. Paul Carmel, President and CEO of Richmont Mines commented: "I am very pleased to say that with the immediate retirement of this debenture, Richmont will have practically no long-term debt. This fact, along with the Corporation's CAN$36 million of cash and tight capital structure of only 33.6 million shares outstanding, provide Richmont with a very solid foundation upon which to grow to its targeted goal of becoming an intermediate gold producer."

As a result of the retirement of the debenture, Mr. Buchan will be leaving Richmont's Board of Directors, effective immediately. In addition, Mr. Sidney Horn will be stepping down as a member of the Corporation's Board, but will remain in his role as Corporate Secretary. These changes reflect Richmont's planto streamline and reduce the size of its Board of Directors.

Mr. Carmel continued: "I would like to thank Mr. Buchan and Mr. Horn for their contributions to Richmont. The Corporation's management team is focused on delivering on our growth strategy and continuing to lay the foundation for increased shareholder value in the future while maintaining our strong financial position and conservative share count."

About Richmont Mines Inc.

Richmont Mines has produced over 1,200,000ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production in1991. The Corporation currently produces gold from its Island Gold and Beaufor mines, and has recently brought the Francoeur Mine into commercial production. With extensive experience in gold exploration, development and mining, the Corporation is well positioned to cost-effectively build its Canadian reserve base through a combination of organic growth, strategic acquisitions and partnerships. Richmont routinely posts news and other important information on its website (www.richmont-mines.com).

Forward-Looking Statements

This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Richmont Mines' Annual Information Form, Annual Reports and periodic reports.

Visit our Facebook page

Excerpt from:
Richmont Mines Announces the Immediate Retirement of CAN$10 Million Debenture

Published: Sunday, September 23, 2012, 12:01 a.m.

In 1991, just one in 10 workers told the Employee Benefit Research Institute that they planned to wait to retire until they were older than 65. By 2007, three in 10 said that.

This year? More than four in 10.

Boomers cruising toward a traditional retirement suffered a financial comeuppance in the prolonged economic slump that began in late 2007. The downturn sapped jobs, stock and housing values, and interest on savings.

Many were also caught in the shift from defined-benefit pension plans to 401(k) plans that required workers to contribute toward their own retirement savings. Some didn't, a choice that will leave them short financially.

Small wonder that, according to the Pew Research Center, boomers are the gloomiest of all age groups about the health and future of their finances. Boomers were more likely than other age groups to tell Pew researchers that they lost money on investments since the recession hit. Nearly six in 10 said their household finances worsened.

Finally, employment-based health insurance for many retirees has been withering away, which is causing older workers to cling to paychecks.

Overall, the stage is set for a new normal: Working in retirement.

The number of older workers has grown more rapidly than any other age group in the past few years. This year, 18.6 percent of those 65 and older were participating in the labor force, compared with 13 percent in 2002.

At the same time, older workers represent a disproportionately large share -- 40 percent -- of people who have been trying to get back into the workforce for at least a year.

Go here to read the rest:
Retirement for baby boomers is a moving target

Everybody should plan for retirement, but if you are working, there are good reasons not to actually retire if your health allows - at least not yet.

About 10,000 baby boomers turn 65 every day, according to this post at bankrate.com, which lists seven "signs" that retirement might not be the best idea for each of them. In addition to financial reasons, the list includes warnings that you shouldn't retire just because of your age and certainly not if you don't know what you'll do with time on your hands. In addition, be careful if you figure you'll be getting a part-time job in this era of persistent high unemployment.

http://bit.ly/Q21AOf

Retirement doesn't always improve quality of life, writes Emily Brandon in this article at usnews.com. Chances are good that you'll find yourself on a strict budget in retirement, Brandon writes, and your life that revolved around work will be gone. Liking your job may be the best reason of all for not leaving it for as long as you can do it well.

http://bit.ly/OMt2uV

Do retiring boomers threaten the economy? Yes, suggests this post at investorguide.com. "The strain of a greater number of retiring and aging citizens on an economic system that is very tenuous in terms of safety-nets could be catastrophic for the working class generations who are coming up behind them and who are going to have to somehow keep the economy propped up on increasingly shaky legs," it says.

http://bit.ly/OgsMdd

In a video on "Why you should not retire," career-design coach Marc Miller says that our jobs provide intellectual stimulation, socialization and other ego rewards that could go missing in retirement.

http://bit.ly/NGQyh6

Age-discrimination warnings pepper this article for small business employers titled, "How to dismiss an employee who will not retire." This is a minefield for companies that are, in most circumstances, legally barred from dismissing workers over 40 for age alone. Reading it could help you understand what you are up against if you decide to stay at the office instead of retiring.

Read the original post:
Web Wealth: Delaying retirement

What do you do if you are loaded down with credit card debt but you know you should be saving for retirement? Do you concentrate on getting rid of the debt, and put off saving in the 401(k) or IRA for later? Or do you save now, pay off later?

There are two different answers to this quandary: One may make you feel better and perhaps move you further in the long run because you will have a sense of accomplishment along the way. The other is actually the best answer, but will work only if you are disciplined about getting rid of credit card debt.

So here goes the possible feel-good approach: Given the rigors of saving for retirement late in life, I suggest young people combine getting rid of credit cards with some retirement saving at the same time.

That way you move yourself along on your debts and on your saving, and - best of all - you begin enjoying a delightful reward: You start seeing your savings build up and begin to imagine spending retirement comfortably instead of sitting in your La-Z-Boy without cable TV.

Simply consider the difference between a 20-year-old who saves a little each week, and a 45-year-old with nothing saved. If the 20-year-old invests just $20 a week in a stock market mutual fund in a 401(k) or an individual retirement account, that account can end up with $1 million at retirement if the stock market performs the way it has historically.

At 45, a person who has saved nothing will need to save about $245 a week to end up in the same place as the person who started saving $20 at age 20. For the illustration, I assumed both average 10 percent annually on investments. That's the average in the last 86 years, although too high for the last decade.

Yet research by David Blanchett shows that there is a better way. Blanchett is head of retirement research for Morningstar and recently completed an analysis looking purely at the numbers.

He found that if you can focus on what's best for you in the long run and tackle those credit card debts until you have wiped them out, you can then save for retirement with better results. His calculations show that you can potentially increase your 401(k) balance by 14.1 percent over the person who just made minimum payments on credit cards while also saving for retirement.

For his analysis, Blanchett assumed a person had $400 a month that could be used either for credit card payments, the 401(k) or both. He found that a 30-year-old with $15,000 in credit card debt who simply paid the minimum on the cards wouldn't get rid of the debt for 36.6 years. In other words, the person would finally be debt-free five months before retiring at age 67.

Link:
Personal Finance: Paying debt vs. funding retirement

Video Link: https://www.youtube.com/watch?v=Rtok1THFemE

22-09-2012 08:14 Space shuttle Endeavour flies a last lap of honour over Los Angeles before landing at LAX to an emotional fanfare. Report by Matt Blake. Like us on Facebook at and follow us on Twitter at . Subscribe to ITN News!

See the article here:
Space shuttle Endeavour flies a last lap of honour over Los Angeles before retirement - Video

Target retirement funds offer one-stop shopping for investors who want a "set it and forget it" retirement strategy. Instead of wading through scores of funds, investors can leave the portfolio strategy to someone else.

Think you might retire 15 years from now? Just pick the target retirement fund geared for those retiring between 2026 and 2030. Now you're all set.

But is this a smart strategy?

The good

Target retirement funds offer a simple choice. When you have 20 investment options, paralysis can set in. Fearful of making the incorrect choice, the decision is deferred. With target retirement funds, you just estimate your retirement date and then select the appropriate fund.

These funds build in a high degree of diversification in their portfolios. Target retirement funds are usually "funds of funds." So by purchasing a Fidelity Freedom 2030 Fund (ticker: FFFEX), you are purchasing their all-sector equity fund and twenty other Fidelity funds. Each of these funds holds hundreds to thousands of different individual stocks or bonds.

So not only do you avoid the risks in betting on a single company or sector, but you also get the benefit of spreading your assets between domestic and international markets, and alternative asset classes including commodities and commercial real estate.

Finally these funds regularly rebalance their holdings. They sell the winners within their fund mix and purchase those that haven't done as well. Most individual investors do not regularly rebalance their portfolio, which costs them total returns over time. Target retirement funds allow you to offload this chore.

The bad

By investing in target retirement funds, you're making a decision that a cookie cutter investment approach will be effective. When we design a recommended portfolio for a client, we not only ask about their risk tolerance but also about their financial goals and come up with the best path forward considering their current assets and future savings. Target retirement funds don't incorporate any information that is specific to your situation.

Read the original post:
Dave Gardner: Target retirement funds -- The good, the bad and the ugly

Video Link: https://www.youtube.com/watch?v=iM65D6rei_4

21-09-2012 15:01 As we save for our retirement years it's not uncommon to find ourselves with more accounts than we know what to do with. http As we save for our retirement years it's not uncommon to find ourselves with more accounts than we know what to do with. Throughout our working years we have sporadic opportunities to save for retirement and we are told diversification is the key to retirement success. As a result many savers find themselves with multiple retirement accounts. For example: 3 CDs, a Money Market Account, 2 annuities, an IRA, a 401(k) or 403(b), and 2 brokerage accounts. That would be a total of 10 separate retirement accounts. Here are just a few challenges caused by having too many retirement accounts: Which account should you spend first and why? Which account should you spend last and why? How do you calculate Required Minimum Distributions from multiple qualified accounts? Is one account losing as much as another is earning? (break even) Will you have enough money for a comfortable retirement? Are your beneficiaries set up properly on ALL of your retirement accounts? Mesa Tucson Arizona Financial Retirement Planner/Adviser Jeff Vogan offers some strategies to consolidate and simplify the income process.

Visit link:
Too many retierment accounts? Financial Retirement Adviser Jeff Vogan Mesa Tucson Arizona - Video

Most say they would "work longer to live better", but some are taking a risk by carrying debt into retirement

TORONTO, Sept. 21, 2012 /CNW/ - A new CIBC (CM.TO) (CM) poll conducted by Leger Marketing reveals that most of Canada's 50-59 year olds don't intend to give up their current lifestyle as they enter retirement, despite falling short of their retirement savings goals. The poll also reveals that some Canadians in their 50s are planning to carry debt into retirement with no immediate plans to pay it off, an approach that could reduce their retirement cash flow and jeopardize their plans to live the good life.

Key poll findings include:

"One of the keys to planning for retirement is having a clear view of how much monthly income you can generate once you leave work, and whether that income will support your expenses," said Christina Kramer, Executive Vice-President, Retail Distribution and Channel Strategy, CIBC. "These poll findings would suggest that some Canadians approaching retirement would benefit from a conversation with an advisor about whether their retirement income and monthly cash flow will live up to their plans."

Carrying Debt for Life?

Poll results also show that some of Canada's boomers are already forecasting that they will carry debt into retirement, and have no plans to pay it off anytime soon.

According to Ms. Kramer, this may also suggest some Canadians approaching retirement are too comfortable with today's low interest rates on their debt, and may not have evaluated the negative impact that ongoing debt payments can have on their cash flow.

"Retiring with debt creates a drag on your retirement income, as monthly repayments will reduce cash flow and can actually limit your financial flexibility once you retire," said Ms. Kramer. "While some Canadians may feel they can incorporate monthly debt payments into their retirement, the reality is that repaying debt before retirement remains an integral component of maximizing cash flow."

Ms. Kramer added that for the vast majority of Canadians, a debt-free start to retirement is the right strategy. "Entering retirement with minimal or no debt maximizes your cash flow, and gives you a clear sense of the level of expenses that will be manageable within your retirement plan."

Retirement Planning Advice

View post:
CIBC Poll: Canada's Baby Boomers not interested in a modest retirement