With paltry interest rates on money market accounts and funds -- and yields on certificates of deposit not much better -- retirees are looking for safe alternatives.Ch. 3: Retirement decisionsMaking the pension decisionThe case for getting the annuityPros and cons of taking the lump sumFixed income alternatives for retireesWhere to find retirement incomeChapter1234ALL

"We're getting a lot of questions about that," says James Holtzman, a shareholder at Legend Financial Advisors in Pittsburgh.

He and others recommend an array of alternatives that improve yield, ranging from short-term government bond funds to utility stocks. But keep in mind that while many investments offer a higher return than money market funds and short-term CDs, virtually none of them offers as much safety.

"When you move from money markets, risk increases. [Read the full article]

The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.

The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010, from 39% in 2009, according to the Employee Benefit Research Institute's annual Retirement Confidence Survey. That excludes the value of primary homes and defined-benefit pension plans.

Confidence in ability to save enough for a comfortable retirement hovered at 16% of respondents, the second lowest point in the 20-year history of the survey.

"Americans' attitudes toward retirement have clearly tracked the economy the last couple of years, and that seems to be the case in 2010," said Jack VanDerhei, EBRI's research director and co-author of the survey, in a statement.

The percentage of workers who said they have saved for retirement fell to 69%, from 75% in 2009. [Read the full article]

The Virginia City, Nev., business consultant said it's not for lack of trying. He and his wife, Midge, have tried to save and at one time invested in the stock market, but it's all been depleted.

"We're scrambling to make it through the next 20 years," he said. "We're doing everything we can to set money aside, but every time we do something unforeseen comes up."

They've downsized and cut expenses. He no longer drives a leased Lexus and now sits behind the wheel of a 2008 Subaru Forester. He also brought in an investor on to help with his business, The Taormina Group Inc., a business consulting firm.

Once a quality control engineer with Ford Aerospace at Mission Control, he'll get a pension of $140 a month, but that's the extent of his planned retirement income.

His retirement plan consists of selling the business in 2014 and continuing on the lecture circuit. An author of 10 books on business and process management, he hopes to continue writing for additional income. [Read the full article]