Retirement

Even companies who have no interest in getting involved with a public health care exchange for active employees might help steer their pre-65 retirees toward the marketplace, experts with Fidelity Investments said Thursday.

The average U.S. balance rose 12% from 2011 to $77,300 as of Dec. 31, 2012, according to a report this month.

Those between the ages of 40 and 50 were the most likely (25%) to say they were “not confident” or “completely doubtful” in their ability to retire and maintain their current lifestyle.

More than half of U.S. Gen X and Gen Y consumers admit having little or no knowledge about investments and financial products, according to a recent LIMRA study.

Employer applications are now being accepted for the 2013 Financial Fitness Challenge, an engaging and effective online financial education program made available by Employee Benefit Adviser and /i>.

The Financial Fitness Challenge is an event-driven program that provides unbiased, online, interactive instruction in personal finance and investing fundamentals. It is designed for all employees, regardless of age, education or income.

Most (91%) are confident in their ability to manage their personal finances, according to a recent survey by Allstate, even as more than 40% are living paycheck-to-paycheck.

Organizations including Berkshire Hathaway, BP Capital and Viacom all have leaders near the age of the man who decided he’s aging too rapidly to lead the Catholic Church. “It’s probably a good idea to reassess one’s ability to be in positions of power at that time,” says one expert.

More than eight in 10 married baby boomers (81.9%) report having retirement savings and 55.7% have gone through the process of calculating a retirement savings goal, compared with only 66.6% and 40.8%, respectively, for singles.

A new study finds that financial advisers struggle to engage investors who are retired or almost retired, and they are divided on how to generate sustainable income.