Retirement Blog

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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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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