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The 'side gig': It's a passion, a Plan B, an exit strategy

(The opinions expressed here are those of the author, a columnist for Reuters.) By Mark Miller CHICAGO (Reuters) - Jeffrey Nash saw the handwriting on the wall a few years ago, and the message wasn't good. A 56-year-old salesman for a large men's clothing retailer in Las Vegas, his base pay had been cut 40 percent and he faced stiff competition from younger, lower-compensated sales staff. He knew the job wouldn't last much longer.

FACTBOX-Boeing contract with machinists - details of agreement

By Alwyn Scott NEW YORK (Reuters) - Boeing Co's machinist workers in the Pacific Northwest narrowly agreed on Friday to an eight-year contract extension that begins after the current contract expires in 2016. The new agreement guarantees them work on Boeing's newest jetliner, the 777X, in exchange for changes in their pay and benefits. Here are key provisions of the agreement: -777X final assembly line and wing fabrication and assembly will be located in the Puget Sound area.

FACTBOX-Boeing contract with machinists - details of agreement

By Alwyn Scott NEW YORK (Reuters) - Boeing Co's machinist workers in the Pacific Northwest narrowly agreed on Friday to an eight-year contract extension that begins after the current contract expires in 2016. The new agreement guarantees them work on Boeing's newest jetliner, the 777X, in exchange for changes in their pay and benefits. Here are key provisions of the agreement: -777X final assembly line and wing fabrication and assembly will be located in the Puget Sound area.

Grand travel in retirement doesn't come cheap

By Beth Pinsker NEW YORK (Reuters) - When it comes to dreaming about retirement, travel is often at the top of the agenda. And by this, people don't just mean a trip or two over what could be a span of 30 or more years. The ultimate fantasy is an itinerary like Kembell Huyke's, which includes going to Africa on safari seven times. In the next year, the retired 73-year-old banker, who is based in New York, has trips planned to Tunisia, Morocco and southern India.

Gov't to expand support for firms introducing wage peak system

SEOUL, Dec. 17 (Yonhap) -- Starting next year, the government will pay more incentives to firms introducing a wage peak system in an effort to reduce their financial burden caused by extending the retirement age of their workers under a new law, the labor ministry said Tuesday. The plan is a key part of a revised enforcement decrfee to the employment and labor law which was approved by the Cabinet that day, the ministry said. In South Korea, no parliamentary endorsement is required for the revision of an enforcement decree.

Brunei retired personnel encouraged to involve in more social activities

Brunei retired personnel encouraged to involve in more social activities BANDAR SERI BEGAWAN, Nov. 28 (Xinhua) -- Pehin Dato Haji Awang Abu Bakar, Brunei's minister of Education, has called upon the retired personnel to continue to expand their knowledge and involve in more activities despite having retired at the year of 55 at the Retirement Ceremony for Staff at Ministry of Education on Thursday.

Confusion reigns over pension, disability entitlements for suspended senators

OTTAWA - The Conservative government is scrambling to figure out if the suspensions of three of its own senators actually means they're entirely off the public payroll, as Prime Minister Stephen Harper claims. Tuesday's suspensions of Mike Duffy, Pamela Wallin and Patrick Brazeau for allegedly fraudulent expense claims are without precedent and the government still hasn't figured out all the ramifications.

Till death (not retirement) do us part

By Linda Stern NEW YORK (Reuters) - Statisticians have noted a rise in "gray divorces" lately. Spouses who stayed together through decades of sickness, health, richness, poorness, child rearing and parental health troubles are breaking up, just as they are supposed to be entering their own happy golden years. No doubt some have unhappily "stayed together for the kids," but something else is at play here. Spouses who have compromised for years see retirement as a last chance to do what they want.

CIBC poll: Parents delaying retirement to pay for kids' education

TORONTO - A poll commissioned by CIBC (TSX:CM) says many Canadian parents are delaying their retirement and taking on debt to help put their children through school. Of 1,000 Canadian parents with kids under 25 surveyed by Leger Marketing, 36 per cent said they've had to postpone their retirement due to their children's post-secondary education costs. Within that group, 19 per cent were planning to put off retirement by more than five years. A third of respondents said they have taken on additional debt to help pay for their kids' tuition and other expenses.

The income annuity puzzle: Why don't more people use them?

By Mark Miller CHICAGO (Reuters) - Economists have long argued that there's a perfect financial product for retirement: the humble immediate income annuity. It's a straightforward proposition: Fork over a big chunk of cash to an insurance company, which starts sending a monthly check when you retire - or later. The cash keeps coming as long as you live.
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