Retirement Blog

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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Thursday, December 30, 2010 9:10 am
By Jennie L. Phipps · Bankrate.com

It’s almost 2011 — the first year that baby boomers will officially become senior boomers. One baby boomer will reach 65, the traditional retirement age, every eight seconds for the next 18 years, according to the U.S. Census. As a result, the population age 65 and older will increase 79 percent between 2010 and 2030.

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Wednesday, December 29, 2010 2:37 pm
By Jennie L. Phipps · Bankrate.com

There are only two days left of 2010, but there’s still time to take a few last-minute retirement planning steps. Save more. Hurry down to human resources and contribute enough to your 401(k) retirement account to get the full employer match for 2010. Otherwise, you are throwing away money. Take your RMD. If you’re older

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Tuesday, December 28, 2010 3:45 pm
By Jennie L. Phipps · Bankrate.com

Something that has surprised me about the discussion here over a conservative think tank’s suggestion that the option to retire at 62 be eliminated is the number of people who posted in the comments that they are in their 50s and pining for age 62 and retirement. My husband is 64 and just signed a

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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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