5 States That Are Bad For Retirees
According to Investopedia.com the least favorable state for retirees are:
    •    Maryland
    •    Nevada
    •    New Jersey
    •    Alaska
    •    California   


Read more about it in this article from Investopedia.com 

Medicare dying faster?

According to a recent Associated Press-GfK poll, 43 percent of Americans born between 1946 and 1964 think they will outlive the Medicare program.

And how to fix the problem?

• 51 percent were against a proposal to replace Medicare with healthcare "vouchers" plan. (Younger respondents favored this fix by a slight margin; older people were vehemently opposed)

• 61 percent of those polled supported raising Medicare taxes to keep benefits intact. Support for increased taxes over benefit cuts was strong among all segments of those polled (age, political affiliation, etc.)

• 54 percent of individuals surveyed support higher copayments/deductibles instead of cuts in payments to doctors.

No change to 401(k) contribution limit next year

The maximum contribution for a 401(k) will be unchanged in 2011. That limit—for those workers who can afford it—is $16,500. Individuals over age 50 can chunk in an additional $5,500 in so-called "catch up" contributions. Same limits apply to 403(b) and 457 plans.

Of course, in the current economy the limits are a moot point for many workers who can't afford (or are unwilling to risk) large contributions to retirement savings plans.

Retirement of older workers, key to jobs for young?

Economist James Galbraith says that, without retirement of older workers, the young will continue to have problems entering the job market and establishing careers. One solution? Lower the Medicare eligibility age to 62 and lower Social Security full retirement ages so that more older workers can retire.

Seems that yet one more victim of the decline in retirement savings accounts is the unemployed or underemployed young worker including recent college graduates. No, their retirement savings didn't plummet–they don't have retirement savings yet because many of them can't get "real" jobs. The normal turnover in the labor market–older workers retire, younger workers move up–has ground to a near halt.