Time for career number two? Some retirees have found fulfilling volunteer work through a program that matches professionals with a suitable nonprofit assignment. The program offers work opportunities with a stipend for up to 12 months at nonprofit organizations. It can help retirees who decide to go for an "unretirement" in their later years. -- CNN Money
The average contribution made by workers to their IRAs last year increased 4.7% to $4,150, the highest on record, compared to figures in 2012, according to a recent survey. Workers are serious about building their nest eggs, setting aside a part of their salary to an IRA and other tax-advantaged vehicles, one expert says. -- CBS Moneywatch
Social Security numbers were originally meant to track a worker's tax contributions to the retirement system but have evolved into an instrument to authenticate identity. As such, they have also enabled fraudsters to gain access to the owner's personal information. The government should act to stop fraud involving SSNs by refraining from using these numbers to verify peoples' identities, one expert writes. -- CNBC
While a pension is generally a safer option compared with a 401(k) plan, an employer-sponsored retirement plan with a generous match can help build adequate retirement savings. However, if leaving an inheritance is important to you, a 401(k) is the better bet, according to one expert. -- MarketWatch
Clients who want to continue working after reaching the retirement age are required to file for their Social Security benefits before their spouses can claim spousal benefits when they reach 62. Clients can suspend their benefits until 70 to increase their payout, but their spouses will need to file for their retirement benefit if they decide to seek a spousal benefit. But beware, filing for both benefits at such an early time could mean reduced benefits. -- Forbes
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