Retirement Blog

Wednesday, January 12, 2011 4:40 pm
By Jennie L. Phipps · Bankrate.com

If you’re doing your taxes soon, don’t miss the saver’s credit. It’s a great retirement planning tool. The saver’s credit is available to middle-income workers and those who make less than that who are saving for retirement. Lots of people overlook it — only 10 percent of full-time American workers with annual household incomes of

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Tuesday, January 11, 2011 4:53 pm
By Jennie L. Phipps · Bankrate.com

I put on my reporter hat yesterday and covered the North American International Auto Show in Detroit, still the country’s largest and most influential car show. If part of your retirement planning includes buying a car to last you a long time, my advice is to hold off for at least a year or two

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Monday, January 10, 2011 4:22 pm
By Jennie L. Phipps · Bankrate.com

I wrote yesterday about 107-year-old Leonard McCracken, who has had a rigorous savings and investment plan before and throughout retirement. But most of the rest of us haven’t been as smart. A recent survey by the Society of Actuaries on retirement planning and living to 100 concluded: Forty-eight percent of Americans aged 45-70 have no financial

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Sunday, January 9, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

Eight years ago, at age 99, Leonard McCracken failed the eye test for renewing his driver’s license. He put his Lincoln Continental up for sale and got $1,600. “I sold it in three days — I got a good price. I love to haggle,” he says. McCracken, who lives in Florida, has been living in

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Friday, January 7, 2011 3:58 pm
By Barbara Whelehan · Bankrate.com

Retirement planning involves sacrificing a portion of what we earn today and investing that money in the hope that one day we’ll have enough assets from which we can draw an income. But the Social Security and Medicare systems operate differently, taking a portion of earnings from today’s workers to pay for the needs of

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Thursday, January 6, 2011 3:38 pm
By Jennie L. Phipps · Bankrate.com

My 85-year-old mother-in-law, who lives in New Jersey, has a chronic problem that the docs think requires some tests. They put her in the hospital on Monday, and it’s now Thursday. Inexplicably, the tests still haven’t been done, but Medicare undoubtedly has been billed for four days. Meanwhile, my mother-in-law is waiting patiently and without

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Thursday, January 6, 2011 9:30 am
By Jennie L. Phipps · Bankrate.com

For its February retirement planning issue, Consumer Reports surveyed 24,270 online subscribers age 55 and up about their finances and satisfaction with their lives. The results were clear: You don’t have to be rich to be happily retired. The survey found that: 75 percent of retirees with more than $1 million in net worth were

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Wednesday, January 5, 2011 9:35 am
By Jennie L. Phipps · Bankrate.com

I listened Tuesday morning to some economic gurus from Prudential Financial talk about the issues facing people doing retirement planning. Jamie Kalamarides, senior vice president for Prudential Retirement, boiled it all down to one word — savings. Prudential manages retirement plans — mostly 401(k)s for thousands of companies and millions of employees. Kalamarides said Prudential supports

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Monday, January 3, 2011 2:53 pm
By Jennie L. Phipps · Bankrate.com

When you next go to the doctor’s office for your annual Medicare-paid-for physical or if you just turned 65, your Welcome-to-Medicare physical — a new benefit this year, thanks to health care reform — the doc may want to talk about your death. Don’t get scared. It’s happening to everybody eligible for Medicare. Beginning this

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Sunday, January 2, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

A reader of this blog, who also works with the AARP Tax-Aide program, points out that January is the time to make sure that you are going to have money available to pay not only this year’s taxes, but also next year’s. It’s a retirement planning basic. The AARP program offers free tax assistance to

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