Retirement Blog

Monday, December 27, 2010 4:11 pm
By Jennie L. Phipps · Bankrate.com

Three months ago, I blogged about a proposal from the American Enterprise Institute, a conservative think tank, to get rid of the option to take Social Security at age 62. Holy cow, the people who thought this was a lousy retirement planning proposal have continued to fill my e-mail inbox with their thoughts. This note,

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Thursday, December 23, 2010 10:00 am
By Jennie L. Phipps · Bankrate.com

A new IRS rule taking affect in 2011 makes managing retirement investments easier. If you find it difficult to keep good records about the cost basis — the price of your stocks when you buy them — beginning Jan. 1, the IRS is going to give you a hand. Brokerages will be required to track

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Wednesday, December 22, 2010 11:03 am
By Jennie L. Phipps · Bankrate.com

This isn’t exactly a retirement planning topic, but it does deal with money and grandchildren, one of the things that makes retirement a joy. ‘Tis the season for the Granny Scam. It’s a chestnut that has had a resurgence this year. The fraud works like this. The phone rings and the person on the other

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Tuesday, December 21, 2010 2:34 pm
By Jennie L. Phipps · Bankrate.com

Beginning in 2011, all new recipients of Social Security, Supplemental Security Income, Veterans Affairs and Railroad Retirement pay will receive it either through direct deposit into their bank accounts or via a prepaid debit card if they don’t have a bank account. Existing recipients have to sign up for one of these options by March

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Monday, December 20, 2010 2:48 pm
By Jennie L. Phipps · Bankrate.com

Here’s a timely retirement planning tip from Greg Burrows, senior vice president at The Principal Financial Group: Put the extra 2 percent of salary that you’ll gain from the Social Security tax holiday, which Congress awarded us in 2011, in your 401(K), 403(b) or IRA. Burrows calculates that if a 30-year-old earning $50,000┬áper year would

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Sunday, December 19, 2010 10:00 am
By Jennie L. Phipps · Bankrate.com

If you’re one of the people whose retirement planning includes staying on the job past age 65 because you like to work, join the ever-growing club of people who just don’t don’t want to embrace retirement. The going wisdom is that the troubled economy is pushing people to work longer, but Gary Burtless, labor economist

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Friday, December 17, 2010 11:32 am
By Barbara Whelehan · Bankrate.com

It’s that time of year when we pause to reflect on the events of the past 12 months, and look to the promise of a new year with hope. Are you all set to make some New Year’s resolutions pertaining to your finances, and in particular, your retirement savings? A survey released this week by

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Thursday, December 16, 2010 3:42 pm
By Jennie L. Phipps · Bankrate.com

Social Security cost of living adjustments, or COLAs, are shaping up to be a major retirement planning issue in 2011. Here are the two factors that retirees or people thinking about retirement ought to consider. One is the overly generous COLA that Social Security recipients got in 2009, resulting inadvertently in no COLA in either

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Wednesday, December 15, 2010 2:53 pm
By Jennie L. Phipps · Bankrate.com

If your employer offers you a cash balance retirement savings plan, snap it up. It can provide valuable retirement planning stability as well as portability. Cash balance retirement plans are a hybrid mix of old-fashioned pension plans and 401(k)s. Kevin Wagner, senior retirement specialist in the Atlanta office of consultancy Towers Watson, says most companies

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Tuesday, December 14, 2010 4:17 pm
By Jennie L. Phipps · Bankrate.com

My 86-year-old mother-in-law gave my husband his annual holiday check last weekend when we visited. Sometimes she gives me my own check, but this year she said she didn’t think I needed the money and that if I did, my husband could share his. I laughed. Family money — even when there isn’t much of

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