"The Boomer is a column written for adults nearing retirement age and those already in their golden years. It will also promote reader interaction by posting e-mail responses and answering reader questions. E-mail your questions or topic ideas to thefoxboomer@gmail.com.

Heres a scary statistic: About 49% of Americans say they aren't contributing to any retirement fund.

A new survey conducted by LIMRA, a trade association for the financial services industry, shows less than a third of Americans over age 50 worked with a financial professional to plan for retirement.

"The findings from this survey were disturbing, given that people will increasingly need to rely on their personal savings to make ends meet in retirement," says Matthew Drinkwater, associate managing director at LIMRA's retirement research division, in a statement.

Boomers need to take a more proactive role when it comes to their retirement and making sure they have adequate savings to cover their needs. Saving systematically can have a dramatic impact on boomers lifestyles after they leave the workforce.

The survey asked consumers what investment vehicles they were using to save for their retirement (when they were) and according to Drinkwater, only 45% of respondents in their 50s were contributing to a defined contribution plan, while 16% were contributing to a ROTH and 20% to a traditional IRA. Heres the more-troubling stat: Drinkwater says a survey conducted earlier this year showed 29% of those 55 or older reported being confident they were saving enough money to last through retirement.

So what gives? If boomers arent saving for retirement because they dont have enough funds leftover after covering daily expenses like food, housing, gas and putting kids through college, how do they feel like they will have enough savings for retirement? Well, many dont plan to ever retire fully or will delay leaving the workforce.

Although it may make sense to at least plan to work as long as you can, says Drinkwater, I don't think many people are going to be able to do that into their 70s and 80s. That is not really the solution. If you look at current retirees, a lot of them say that they retired earlier than expected.

He cited a two-year old survey that showed 38% of respondents retired when they planned to, with 56% saying they retired earlier than anticipated. Of that 56%, close to half had to leave involuntarily. The mindset of I dont have to save as much because I plan to work longer is risky.

You may need to think again because you may be jeopardizing your retirement security because you may have to make those dollars last longer than you had planned for.

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Why Boomers Aren't Saving for Retirement

The retirement income needs for women are similar to those that apply to men; however, there are some factors that make it more challenging for some women to achieve their retirement planning goals and objectives, particularly in the area of finance.

SEE: Retirement Planning

Longer Life ExpectanciesWhile living longer is definitely a plus for many individuals, it adds to the risk of outliving one's retirement savings. This is of a greater concern for women, who statistically live longer than men. According to a report by the National Center for Health Statistics, the life expectancy at birth for a man is 75 years, whereas it is 80.9 years for women. The same report indicates that the life expectancy for men at age 65, which is a generally accepted retirement age, is 17.6 years for men and 20.3 for women.

A three to four year difference in life expectancy may not seem like much, but when the cost of medical expenses during retirement is considered, along with other living expenses, the cost of living for a few years can be relatively high. According to a recent Fidelity report, "A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover medical expenses throughout retirement," if they are not covered by an employer medical coverage plan.

Women can manage these and other retirement living expenses by planning ahead and implementing practical solutions to saving for retirement.

Determine How Much Is Needed to Finance Your RetirementWhile there are no guarantees on how long you will live. Your health status and the lifestyle that you will actually live during retirement can be used to make reasonable assumptions about how much you will need to finance your retirement years. Ideally, you should work with a financial advisor who is able to prepare a comprehensive analysis, which takes into consideration factors such as:

These and other factors that affect the financial aspect of your planned retirement will help determine how much you will need to save.

Determine How Much You Can SaveIdeally, you want to save the amount needed to ensure that you meet your retirement savings goal. However, from a practical perspective, the amount that you can afford to add to your retirement nest egg should be limited to what you can afford.

For example Assume that you are 30 years old, you plan to retire at age 65 and your financial advisor projects that you will need $1 million, in addition to what you have already saved, to finance your retirement. Assuming a rate of return of 4% and an inflation rate of 3.1%, you will need to save about $1,100 per month in order to reach your goal.

However, the question becomes whether you can afford to save $1,100 per month. If you find that saving $1,100 per month causes financial challenges, including causing you to increase your amount of debt, it may be practical to reduce your savings amount and/or revise your retirement goals and objectives.

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Retirement Planning Tips For Women

Between inflation and consistently pitiful yields, retirement planning has become a Herculean task. Investment is tough when working with low returns. But there's a bigger problem on the horizon -- a large majority of baby boomers on the cusp of retirement won't have enough assets to last them for the duration.

In order to get a better understanding of retirement planning in a weak economy, we asked John Moore, associate professor of finance and economics at Walsh College, to provide us with some insight. As a frequent radio and television guest, he has served as an expert on Detroit Public Television as well as at the Economic and Business Historical Society annual conference.

Has the current economic situation changed retirement planning for baby boomers?

I believe the answer is yes. Returns from equities over the past dozen years have been disappointing by historical standards. Unfortunately, the near-term future of capital markets remains unclear due to the slow growth of the American economy and uncertainties in Europe.

The consequence is that many boomers are underfunded for their retirement. Many of them will need to work longer in order to accumulate the funds necessary to retire in comfort. An alternative will be to scale back lifestyle choices during the retirement years. The reality is that the average boomer will likely live their retirement years more comfortably than their grandparents, but perhaps not as well as their parents.

For retirees already on a fixed income, what effects has the recession caused?

The problem for fixed-income retirees is that the cost of "ordinary goods," such as groceries, gas and utilities, is currently increasing at a faster rate than the official (Consumer Price Index). This can seriously damage the real purchasing power that retirees have at their disposal. Although we are by no means in the same situation yet, the last time that retiree purchasing power was badly damaged was in the 1970s, when high inflation hurt retirees and the poor harder than any other segment of society.

How can an individual plan for retirement and determine the total amount he or she needs once retired?

Each individual's plan is unique. It depends on when they want to retire, what sort of lifestyle they want to live during retirement, the amount of savings they accumulate, and their investment styles. Everyone serious about retirement should work with some sort of qualified financial adviser to answer those questions.

In light of the currently volatile financial world, individuals should be prepared to save more and assemble a well-diversified portfolio in order to ensure they reach their investment goals. Although this may seem counterintuitive right now, a well-constructed portfolio should include some real assets such as real estate.

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Should Baby Boomers Say 'Bye' to Retirement?

BOSTON (MarketWatch)Retirement security doesnt seem to be an issue that the candidates running for president want to discuss. But they should, according to growing number of executives in the financial services industry.

In fact, executives and others are demanding that President Barack Obama and Gov. Mitt Romney, the presumptive Republican candidate, lay out their respective positions on various retirement security issues, such as Social Security, automatic IRAs and the like.

Earlier this month, for instance, Robert Reynolds, the chief executive officer of Putnam Investments, asked in no uncertain terms that Obama and Romney endorse the tax incentives now in place for retirement saving programs such as the 401(k) and start debating how to make Social Security solvent.

In short, Reynolds called on the candidates from both political parties to recognize retirement security as not only a vital national challenge, but a key element in solving our nations debt and deficit crisis over the long term. If we solve the retirement challenge it would have a huge benefit for all Americans, Reynolds said in an interview. If someones future is secure, it allows them to do so much more with their lives.

Weeks later, were still waiting.

Obama and Romney have not responded to Reynolds call. So, we set out to learn what each of the candidates positions are on some of the major retirement security issues, and to echo Reynolds plea for action as well.

Social Security

When it comes to making Social Security solvent, a spokesperson for Romney referred us to the campaigns website. And heres what Romney wants to do to fix Social Security:

First, for future generations of seniors, the retirement age should be slowly increased to account for increases in longevity. And two, for future generations of seniors, benefits should continue to grow but that the growth rate should be lower for those with higher incomes.

With just those two simple steps, and no change in benefits for those at or near retirement, America can guarantee the preservation of the Social Security system for the foreseeable future, according to Romneys website.

Originally posted here:
Why Obama, Romney Threaten Your Retirement

Former Major League player David Segui testified in Washington on Thursday that Roger Clemens' personal trainer told him he had saved needles he said he had used to inject Clemens with performance-enhancing drugs, Reuters reported. Segui was testifying on behalf of the prosecution in Clemens' perjury trial, and he said Brian McNamee, Clemens trainer, told him in a telephone conversation in 2001 that McNamee had saved the needles as evidence to satisfy his wife, who was leery of McNamee's relationship with Clemens. "He mentioned that the relationship between Brian and Roger had put stress on (his) married life," Segui said, according to Reuters. "He said she had raised the idea of keeping evidence ... he mentioned that he kept darts (needles) to get his wife off his back." Segui has admitted he used steroids obtained from Kirk Radomski, who had testified earlier that he mailed human growth hormone to Clemens' home. Testimony from Segui is an attempt to boost the credibility of McNamee, who is being painted as a liar by defense attorneys. Clemens, 49, is being tried on federal charges that he lied in 2008 to the U.S. House of Representatives' Committee on Oversight and Government Reform when he said he did not use performance-enhancing drugs. Also Thursday, FBI forensics expert Pamela Reynolds testified she had found evidence of steroids on medical waste from the 2001 injection McNamee had turned over to authorities.

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Segui testifies McNamee said he kept needles as evidence

May 25, 2012 - 18:03 AMT

PanARMENIAN.Net - In New York, where audiences are treated to regular performances by star musicians, there is excellent music-making in abundance. Yet for all the virtuoso playing - however enjoyable it may be - it is still rare to hear an artist communicate with the level of searing intensity that Sergey Khachatryan achieved in his sublime interpretation of Bachs Partita for Solo Violin No. 2 at Alice Tully Hall on Wednesday, May 23 evening, Vivien Schweitzer says in a music review on the New York Times.

A performance of a Bach partita or sonata for unaccompanied violin also presents a rare opportunity to see a violinist completely alone onstage, in this case without even a piano or music stand in the background, Ms. Schweitzer says.

Khachatryan has recently recorded the sonatas and partitas; the cover of the disc features him shrouded in darkness, eyes raised piously and hands pressed together above his instrument. This was certainly a deeply spiritual performance, personal and soaringly expressive. As soon as Khachatryan began the opening Allemande, you could sense how intently the audience began listening, as he achieved the all-too-uncommon feat of seducing a rustling, coughing crowd into silence.

The concluding Chaconne - the approximately 15-minute movement that consists of a series of 64 variations on a stately four-bar, triple-meter dance theme - has entranced listeners for centuries.

Ms. Schweitzer reminds that in a letter to Clara Schumann, Brahms wrote: On one staff, for a small instrument, the man writes a whole world of the deepest thoughts and most powerful feelings. If I imagined that I could have created, even conceived the piece, I am quite certain that the excess of excitement and earth-shattering experience would have driven me out of my mind.

There were moments of plaintive beauty when Mr. Khachatryan played the monumental Chaconne, and equally heart-wrenching moments during the Sarabande. His sweet-toned approach is not the Baroque purists aesthetic, but not a note or phrase seemed ill advised, she says.

The performance after intermission proved equally intense. Khachatryan was joined by his sister Lusine Khachatryan, a gifted pianist, for an exciting rendition of Beethovens Kreutzer Sonata, whose tumultuous dialogue and seething drama inspired Tolstoys novella of the same name. Such a sense of danger pervaded this fiery interpretation that you could easily imagine the jealous husband of Tolstoys story reacting in fury after hearing his wife performing this passionate music with another man. The drama continued with the encore, the soulful, turbulent Introduction and for violin and piano (1957) by the Armenian composer Edvard Mirzoyan.

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NYT about Sergey Khachatryan: personal and soaringly expressive

LONDON--(BUSINESS WIRE)--

Cotys proposal to acquire Avon has inspired a renewed interest in direct selling as a distribution channel bringing up questions about its profitability and prospects.

New market report Corporate Strategies in Direct Selling 2011 drawn up by Euromonitor International provides a thorough examination of the channel through a series of case studies of the leading direct sellers strategies, focusing on emerging market penetration, flexible approach and product and sales model innovation.

Report Highlights:

Products mentioned include: baby and child-specific products, bath and shower, colour cosmetics, deodorants, depilatories, fragrances, hair care, mass cosmetics, men's grooming, oral care, oral care excl power toothbrushes, premium cosmetics, sets/kits, skin care, sun care.

Data covered include: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Report Details:

Title: Corporate Strategies in Direct Selling 2011 Published: May, 2012 Pages: 56 Price: US$ 2,000.00

http://marketpublishers.com/report/consumers_goods/retailing/corporate_strategies_in_direct_selling_2011_euromonitor.html

Report Contents:

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Beauty & Personal Care Direct Selling Strategies Reviewed in New Topical Study Published at MarketPublishers.com

MONACO--(BUSINESS WIRE)--

Monster, the global leader in the development and manufacturing of high-performance headphones, is dramatically raising the bar for headphone sound and style at this years Monaco Grand Prix, introducing three ground-breaking new models that deliver an astounding new level of audio quality, while providing high style that boldly positions headphones as a fashion accessory. The companys offerings include the upcoming Inspiration, Monsters first over-ear, noise canceling headphone, as well as the elegant over-ear Diamond Tears Edge. In alliance with Diesel, the iconic lifestyle company, Monster is offering VEKTR, a trendsetting personal listening solution. Each new Monster lifestyle headphone has been expertly engineered to deliver a powerful music listening experience, combined with stunning new designs that allow users to express their individuality and style. Monster will showcase and demonstrate its upcoming headphones at a May 25th press conference at the MC Bay Hotel.

Noel Lee: The Creative Mind Driving Monsters Next-Generation Style & Sound Monster founder and Head Monster Noel Lee, who was recently honored with the prestigious Plus X Lifetime Achievement Award, is the audio expert responsible for the dramatically enhanced sound quality of the companys new headphones. After engineering and tuning the acclaimed Beats by Dr. Dre headphone sound, Lee has gone on to redefine the quality of the personal listening experience in recent years, establishing Monster as the clear world leader in advanced, high-performance headphones. The debut of Inspiration, Diamond Tears and VEKTR reflects his ongoing mission to redefine headphone sound and bring back great audio performance for all digital music listeners.

Noted Mr. Lee: Since 1929, the Monaco Grand Prix has been known around the world as an event that signifies the pinnacle of glamour and prestige which is precisely why we chose this event to preview our new line of headphones. As a company dedicated to better-sounding music, Monster creates products that elevate the music listening experience. Powerful, accurate audio reproduction is always at the forefront of our product creation, accompanied, of course, by style and design. With Inspiration, Diamond Tears and VEKTR, we are giving music lovers everywhere an opportunity to explore new horizons in audio performance, with bold new designs that set the stage for a new era of personal sound and style. The Cannes Film Festival is happening at the same time as the Monaco Grand Prix, so be on the lookout for stylish and high-profile people wearing the newest Monster headphones around town, both at the Grand Prix and the film festival. Were Monsterizing Monaco!

Inspiration: Serious Audio. High Style. Over 30 years in the making, Inspiration headphones are born from Monsters tradition of passion for music and innovation. The first-ever Monster over-ear noise-cancelling headphone, theyre ideal for sophisticated listeners, frequent travellers and anyone who wants to enjoy a new point-of-view in luxury personal audio that blends next-generation sound with streamlined design, total comfort and premium customization. Most importantly, thanks to Monsters leading-edge sonic enhancements, Inspiration headphones bring out more of the truth behind every great recording. This pure and powerful music reproduction is combined with a trendsetting fashion-forward twist interchangeable headbands in a variety of different colors, textures and materials. The bold new concept in headphone design lets users express themselves by changing headbands, transforming the entire look and feel to suit style preferences for any day, mood or occasion.

By combining their advanced audio performance with style-forward design and customization, Inspiration lets users express exactly how their music moves them. Designed for both men and women, they feature a unique angled plush earcup, in addition to their super comfortable, extra wide interchangeable headband.

Diamond Tears: Sound with the Clarity of Diamonds Monsters Diamond Tears headphones are fashion that is both seen and heard. They feature Monsters world renowned audio engineering for a truly unique and powerful personal listening solution. The Diamond Tears sound is pure Monster rich, powerful audio that is super detailed and accurate across all frequencies, so music sounds the way the original artist intended it to be heard. Best of all, the design is as incredible as the sound. The ultimate fashion statement, Diamond Tears are for those who are BOLD, who want to stand out and be noticed. Their pillow soft ear cushions let you listen for hours in total comfort, with perfectly fitted noise-isolating earcups that keep the world out and your music in. They also feature Monsters ControlTalk Universal; with an integrated high-grade microphone and answer button that lets users their music and answer phone calls without having to reach into their pocketbook, backpack or pocket. From admiring looks, to incredible music reproduction, Diamond Tears will make a forever lasting impression.

VEKTR: Expertly Blending the Worlds of Fashion and Great Sound. VEKTR on-ear headphones provide users with a comfortable, premium-quality listening solution that expertly blends the worlds of fashion and great sound. In addition to their dramatically enhanced audio performance, they offer a strikingly different cosmetic, with a sharp faceted look thats completely unlike traditional round on-ear headphones. Featuring a distinctive diamond-cut Diesel logo on each plush ear cup, VEKTR headphones provide a unique sound experience: the combination of enhanced audio performance and unique visual design engages the senses and adds a new level of self-expression to the music listening experience.

The Monaco Grand Prix is held each year on the Circuit de Monaco. Run since 1929, it is widely considered to be one of the most important and prestigious automobile races in the world alongside the Indianapolis 500 and the 24 Hours of Le Mans (with which it forms the Triple Crown of Motorsport). The circuit has been called "an exceptional location of glamour and prestige."

Press members visiting the Monaco Grand Prix should contact: Mary Manabat Barker, EU Marketing Coordinator, Monster Europe Ltd. E-mail mmanabatbarker@monsterproducts.com

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Monster Brings Unprecedented Audio Performance and Style to Europe with the Introduction of Three Stunning Headphone ...

Video Link: https://www.youtube.com/watch?v=XlbNq6fHAUQ

23-05-2012 23:43 Self help guru and personal success coach Bob Proctor from "Beyond The Secret" talks about facing resistance and if it means you should change course when you face constant resistance...or are you on the right path toward your dreams and goals. Find out in this amazing video http Click on to find out more about Bob's Success Program!

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Bob Proctor On How To Know If You're On The Right Path - Video

CHICAGO, May 23, 2012 /PRNewswire/ -- When choosing insightful market research, making the right decision has never been more important to drive successful product innovation. But leading household, personal care and OTC healthcare brands will have a distinct advantage from today (May 23) on as Mintel announces the launch of its innovative serviceMintel Household & Personal Care.

(Logo: http://photos.prnewswire.com/prnh/20120222/CG58099LOGO)

Expanding Mintel's already proven experience in the global CPG market, Mintel has combined the best-in-class research team with robust market data to provide a forward thinking toolkit to support clients' strategic planning and decision making. Developed in response to client feedback, Mintel's new service provides predictive analysis and critical recommendations, combined with the abilityto visualize global trends and product concepts.

Michelle Strutton, head of household and OTC healthcare global insight, said:

"Mintel Household & Personal Care provides research and expertise designed specifically for professionals in household, personal care and over the counter health markets. Our global industry analysts gather all our relevant content and distill it into a digestible and accessible format. Every piece of information is backed by best-in-class data and expert opinion. We designed the service to help the industry to get a global view on what is impacting the business worldwide."

To stay on top of constantly evolving industries, Mintel's global analysts also contextualize changes in environment, society and markets to offer a deeper understanding of what is influencing consumer behavior and driving global trends. The new service also integrates different media channels, featuring engaging expert videos, discussing the most innovative products seen across the globe in the household, personal care and OTC health markets.

Mintel Household & Personal Care is the result of a network of passionate industry experts - real people providing real insight and strategy.

About Mintel Mintel is a leading global supplier of consumer, product and media intelligence. For 40 years, Mintel has provided insight into key worldwide trends, offering exclusive data and analysis that directly impacts client success. With offices in Chicago, New York, London, Sydney, Shanghai, Tokyo, and now India, Malaysia and Singapore, Mintel has forged a unique reputation as a world-renowned business brand. For more information on Mintel, please visit http://www.mintel.com.

Follow Mintel on Twitter, LinkedIn, or catch up with the latest news, views and information from the team behind Mintel on The Mintel Blog.

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Mintel launches new Household & Personal Care service