Retirement Blog

Thursday, April 14, 2011 3:21 pm
By Jennie L. Phipps · Bankrate.com

Saving for retirement when you don’t make much money can be a terrible burden, but a recent analysis of economic information commissioned by the nonprofit Wider Opportunities for Women showed why making the sacrifice and having the fortitude to commit to regular savings is a retirement planning necessity. The study starts with the calculation from

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Wednesday, April 13, 2011 3:43 pm
By Jennie L. Phipps · Bankrate.com

When it comes to retirement planning, African-Americans have some different attitudes and challenges compared to other segments of the population of a similar age and circumstance, according to a study released today by Prudential Financial. The study polled 1,500 African-Americans who consider themselves family financial decision-makers. About 60 percent had annual incomes greater than $50,000.

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Tuesday, April 12, 2011 1:14 pm
By Jennie L. Phipps · Bankrate.com

If the thought of delaying retirement depresses you, try thinking about retirement planning differently. If you’re 60 and you’ve saved at least four times your salary, then Christine Fahlund, senior financial planner at T. Rowe Price, suggests that you continue to work but stop saving, and then use the money you would have saved to

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Monday, April 11, 2011 3:52 pm
By Jennie L. Phipps · Bankrate.com

Starting a business in retirement has lots of advantages from an income as well as a tax standpoint. One of the options worth considering is buying a franchise because you don’t have to start from scratch. The business basics are already in place. A franchise broker like David Goldbaum of Franchise-Economics.com makes his living selling

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Sunday, April 10, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

Retirement sounds good, but when faced with the reality of hanging up their  work boots, many of us are too busy to embrace the prospect of life without a job. Sixty-five-year-old Lakers Coach Phil Jackson told the Los Angeles Times on Friday that he was ready to quit. He called professional sports an “unhealthy lifestyle”

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Friday, April 8, 2011 3:52 pm
By Barbara Whelehan · Bankrate.com

My recent post about federal pension benefits sparked some heated comments from public and private sector workers. It’s a good thing we weren’t all in the same room or a riot may have ensued! Some of you made excellent observations, but I was chagrined at the level of hostility displayed by other contributors. Some folks

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Thursday, April 7, 2011 3:36 pm
By Jennie L. Phipps · Bankrate.com

Anyone budgeting for retirement can shave a few dollars off what they plan to spend on insurance by taking some smart steps, the industry-supported, nonprofit Insurance Information Institute points out. Here are their suggestions: Tell your insurance company you’re older than 55. There are discounts for that, so make sure you’re getting them. Take a

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Wednesday, April 6, 2011 4:02 pm
By Jennie L. Phipps · Bankrate.com

The retirement pundits are all taking aim at the proposal by U.S. House Budget Committee Chair Paul Ryan to dismantle Medicare and Medicaid in favor of a voucher system that could be used on the open market. I don’t want to be left out, so here’s my 2 cents: Boomers — those are the people

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Tuesday, April 5, 2011 3:19 pm
By Jennie L. Phipps · Bankrate.com

If you are one of the lucky people who are entitled to an old-fashioned defined benefit pension, you can feel encouraged that the likelihood that you’ll get the retirement benefits that are owed you is improving. The typical U.S. corporate pension plan was 88.5 percent funded in March, according to statistics published by BNY Mellon

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Monday, April 4, 2011 3:54 pm
By Jennie L. Phipps · Bankrate.com

Anyone who has diligently saved in hopes of being able to live off the income from their investments is being punished in the current economic environment. Retirees living on savings used to rely on income from easy to understand sources: U.S. Treasuries, bank certificates of deposit, municipal bonds and stocks whose returns were predictably positive

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