Word: last
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Dates: during 1990-1999
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...always, you'll want to defer income where possible and accelerate deductions. That might mean taking a bonus in January rather than December, if you have a choice, or paying your last estimated quarterly state income tax in December instead of January. Other ways to pull deductions forward: prepay health-insurance premiums, student-loan and mortgage interest and some college tuition...
...more marriages today than ever before, one partner, usually the wife, is working while her spouse has retired. Fifty-one percent of married women ages 55 to 64 were in the labor force last year, compared with 36% in 1980. "Unlike prior generations of retirees, in which the wife was most often a homemaker, today's couples have two retirements to think about," says Phyllis Moen, a psychologist conducting an ongoing study on retirement at Cornell University. According to Moen, when one person continues to work after the other retires, all kinds of issues can arise--from how much time...
After Guy Barton, 56, retired last year from his job as a public school administrator in Wappingers Falls, N.Y., he took some computer classes at a local college, brushed up on his cooking skills at the Culinary Institute of America and began golfing more regularly with friends. His wife Marge, 55, a fifth-grade teacher, won't be eligible to retire until next June...
This kind of transition would be a much more feasible option for other retirees, Moen believes, if only employers encouraged it. Because many pensions are based on an employee's last three years of service, phasing out of a current career slowly is financially unattractive. And while employers may provide information about how to prepare financially for retirement, most don't talk to workers about how to plan another precious resource--their time. Additionally, volunteering organizations are largely missing out on the untapped resource of skilled retirees...
...course, you can plan your retirement to the last detail, but it won't be any fun at all if you're not flexible. New needs can arise, old habits can be broken, and a relationship can evolve. For many couples, these years are what you've spent the rest of your lives working toward. And after all that planning and hard work, your first priority should be to enjoy...