Smart Choices, Dumb Moves (BusinessWeek)

BusinessWeek – Financial planners can advise, books can inform, worksheets can approximate. But they’ll never replace the advice you can get from folks who have ventured before you into that great unknown: retirement. To help you avoid dead ends and pitfalls, we asked retirees to look back over their time outside the working world and talk about their smartest financial moves, biggest surprises, and worst mistakes.

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Housing Recovery Will Revive Retirement Plans (U.S. News & World Report)

U.S. News & World Report – Buy a house, pay the monthly mortgage, watch your home’s value grow, and eventually sell it and fund your retirement dreams. It seemed to be the natural order of things until the bubble burst. For older homeowners, the new order of things is to either sell your home at a huge loss or stay put and hope things will get better before you’re too old and frail to have any retirement dreams left. For recent homeowners, there is no dream. …

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Ohio AG sues credit agencies for public pensions (AP)

AP – The three major credit ratings agencies gave mortgage-backed securities unjustifiably high ratings in return for lucrative fees, losing at least $457 million for five Ohio public employee pension and retirement funds, the state’s attorney general alleged in a lawsuit filed Friday.

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Best of both worlds? Combined pension/401k plan (AP)

AP – Over the last year it’s become abundantly clear that the stock market can devastate even seemingly healthy retirement accounts. Even so, with the guaranteed income of traditional pensions disappearing, most investors have little choice.

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Half of workers changing jobs cash out 401k (AP)

Graphic shows 401(k) cash-out rates by ageAP – Millions of workers take a huge chance with their retirement savings every year: They cash out their 401(k) accounts when they lose their jobs or move to new employers.

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