Guess how expensive teacher retirement costs are

According to new data from the Bureau of Labor Statistics, teacher retirement costs are at an all-time high.

As of March 2016, retired public school teachers receive $6.67 per hour worked during their careers. Compare that to March 2006, when they received less than half that amount: $3.26 per hour worked.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Opinion: “Staying Active” after Retirement: Consider Mentorship

About one-third of us working in the sciences are approaching or have reached typical retirement age, according to the National Science Foundation. Many of us enjoy the intellectual aspects of science and wish to stay involved in them after retirement. Some of us also like interpersonal aspects and do not wish to abandon those, either.

As recently explored in The Scientist, continuing lab work after retirement—by leading a smaller lab, joining someone else’s, or even becoming a late-life postdoctoral fellow—serves some well. Yet such opportunities can be hard to arrange, and arguments have been made that space and funding should go to those earlier in their careers. And some in the sciences do not wish to continue lab work—or, like me, have pursued non-laboratory careers. Fortunately, other options exist

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

 

Save for college without hurting your retirement

Struggling to figure out how they'll pay for rising college costs, some parents are willing to dip into their retirement savings and delay retirement but may not realize that in doing so they may be jeopardizing their own financial security.

Some parents may not mind delaying retirement or may believe that using their retirement fund is the best alternative to help their child pay for college. More than half of parents recently surveyed by T.Rowe Price agreed that they'd rather dip into their retirement savings than have their child take out student loans. Parents worry about the long-term impact of student loan debt. Two out of five parents who used student loans to pay for their own college education said their payments have impacted their ability to save for retirement, according to that survey.

Continue reading the source article at CNBC.com.

Damian J. Sylvia

Managing Partner

Retirement Income Solutions

220 Monmouth Rd

2nd Floor

Oakhurst, NJ 07755