The somewhat baffling arithmetic behind this advice is explained in the chapter on protecting your retirement from college costs.

FORBES: Paying for College: Aid Formulas and AGI

In a poll he did for financial services firm SunAmerica this year, 54% of people over 55 said they viewed retirement as a new chapter rather than a time to wind down.

FORBES: Magazine Article

As more municipalities file Chapter 9, the more these kinds of retirement deals will be broken.

WSJ: Andy Kessler: The Pension Rate-of-Return Fantasy