Retirement Blog

Monday, February 21, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

I have this terrible retirement planning fear that I have somehow overlooked changing the beneficiary on some old retirement account and it will inadvertently become the property of my ex-husband. Beneficiaries supersede wills and trusts, so paying attention to them is a key part of estate planning. Giving thought to choosing the right beneficiary is

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Saturday, February 19, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

There is more than one way to skin the retirement planning cat. For instance, while I was walking on the beach this morning — we’re vacationing in Florida this week — a fellow with a metal detector came by. He told me he uses his finds to augment his income. In the past month, he

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Friday, February 18, 2011 4:07 pm
By Barbara Whelehan · Bankrate.com

The discussion on how to fix Social Security elicits visceral reactions from people on all sides of the issue. Libertarians would like to forgo taxation altogether and instead assume responsibility for their own retirement planning by investing the money for themselves. Socialists consider a greater good, preferring the system get fixed so that no one

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Thursday, February 17, 2011 3:01 pm
By Jennie L. Phipps · Bankrate.com

My 64-year-old accountant husband has spent our entire Florida vacation this year staring at spreadsheets and IRS rules, calculating retirement account scenarios. He’s considering taking the retirement plunge, and even after more than 25 years of managing other people’s money, he’s nervous about having to depend on his skills to pay our bills. Living without

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Wednesday, February 16, 2011 1:00 pm
By Jennie L. Phipps · Bankrate.com

Don’t retire naked. Leaving health insurance out of your retirement planning is a risky idea. Two-thirds of personal bankruptcies are the result of medical expenses, according to a study by the American Institute of Certified Public Accountants. Beginning this year, the government has expanded its Pre-Existing Condition Insurance Plan, or PCIP. The program is part

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Tuesday, February 15, 2011 2:55 pm
By Jennie L. Phipps · Bankrate.com

President Barack Obama announced his 2012 budget proposal Monday, throwing a few bones to people living in retirement and attempting to wrest a few away. Here’s how the 2012 budget proposal would most directly affect your retirement planning: Money in retirees’ pockets. The biggest offering is a $250 “economic recovery” payment that would cost $15 billion

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Monday, February 14, 2011 4:00 pm
By Jennie L. Phipps · Bankrate.com

If you look back at the comments on this retirement planning blog regarding Social Security, you can read a host of opinions from people who believe the program should be either eliminated or radically overhauled. Not many articulate responses have been posted by people who are supporters of Social Security. So in the interest of

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Sunday, February 13, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

Here’s some good retirement planning news. The Internal Revenue Service decided last month that money paid to a financial adviser for managing your IRA doesn’t have to be subtracted from your annual IRA contributions limit. The IRS says that if you’re paying a fee calculated as a percentage of the assets your adviser manages, then

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Friday, February 11, 2011 4:46 pm
By Barbara Whelehan · Bankrate.com

At a recent editorial meeting here at Bankrate, one of my colleagues suggested we run a story challenging the rule that retirees withdraw no more than 4 percent from their portfolios during retirement. It seemed to him that the rule was too rigid and not applicable in every situation. For example, if a retiree’s portfolio

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Thursday, February 10, 2011 4:08 pm
By Jennie L. Phipps · Bankrate.com

For some people, retirement planning includes finding a job. But if you’re over 55 and looking for a job, plan on searching for a long time. A report from the Congressional Research Service says that 11.51 percent of  unemployed adults ages 55 and over had spent the last two years looking for work. Among unemployed

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