Well, I know I'm moving, but there are so many choices of places to go, live, visit, and retire. The cold is starting to get to me the older I am, and I am ready to relocate to reinvent myself and my life style. Sure the grass is always greener, but life is short, and I'm ready for a change.
When the market is at historic lows, it's hard to get publicity for wagging your finger at African-Americans for not investing in retirement plans. It was a challenge to get blacks to invest before the market went crazy, and it's probably harder now with just about everybody seeing substantial losses.
But the best places to retire are not always clear, that's why one must really search. Many people are having trouble even thinking about retirement given the economy.
The Wall Street Journal says the average plan account balance dropped roughly 18 to 23 percent, depending on the participant's age and tenure.
That's a particularly tough spot for older workers because they don't have enough time to see their investment recover before retirement.
The Journal quotes retirement experts who call the 401(k) system a "failed experiment."
We're not sure we'd go that far. But we do need to rethink retirement "systems" in this country -- ranging from these personal accounts to Social Security -- because so many Americans are wondering if they can afford to retire. Right now, the answer might be, it's better to wait.
Maybe retirement abroad is the only option given everything that is happening. I like the beach, and the ocean. I always love Latin food. Maybe heading down somewhere else is the best place to retire for me.
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