Retirement Blog

Friday, October 1, 2010 2:41 pm
By Barbara Whelehan · Bankrate.com

Fortune 1000 companies continue to freeze their pensions at a steady pace in this uncertain economy, according to a recent Towers Watson study. By freezing pensions, companies are effectively putting their defined benefit plans on ice by either closing off benefits only to new hires (known as a soft freeze), or halting all future benefits

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Thursday, September 30, 2010 5:23 pm
By Jennie L. Phipps · Bankrate.com

If you’re older than 70, now is the time to consider this year’s required minimum distributions, or RMDs, on your IRA and other retirement accounts. Everyone born before July 1, 1939, who has a non-Roth retirement account has to take their RMD this year. Last year, in the midst of the economic downturn, they were

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Wednesday, September 29, 2010 5:40 pm
By Jennie L. Phipps · Bankrate.com

Earlier this month, the Financial Industry Regulatory Authority, or FINRA, awarded a 79-year-old client of one of the nation’s largest mutual funds $110,000 to make her account whole again, compensate her for lost interest and pay her legal fees after her $700,000 retirement account got lost in the shuffle at the fund. I’m not going

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Tuesday, September 28, 2010 4:01 pm
By Jennie L. Phipps · Bankrate.com

If you are getting married, especially for the second or third time around, part of your retirement planning should likely be a prenuptial agreement. Prenups for retirees or those close to retirement are becoming increasingly common, says Marlene Eskind Moses, president of the American Academy of Matrimonial Lawyers and a family law practitioner in Nashville,

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Tuesday, September 28, 2010 10:44 am
By Jennie L. Phipps · Bankrate.com

Some wealthy people are worried just like the rest of us that they won’t have enough money to quit working when they they hit retirement age, according to a survey by Barclays Wealth, which manages money for high-net worth people worldwide. Barclays says retirement anxiety isn’t unique to the U.S. People in emerging economies also

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Sunday, September 26, 2010 10:00 am
By Jennie L. Phipps · Bankrate.com

Poor retirement planning can leave a recent widow or widower with no cash at a time they may need it most. Until the estate is settled — a process that can take months — the bereaved spouse or partner won’t have access to accounts that were held in one name only, unless the account owner

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Friday, September 24, 2010 2:41 pm
By Barbara Whelehan · Bankrate.com

House lawmakers yesterday passed a bill that contains a provision giving Americans a little more control over their retirement fates. It is part of the Small Business Jobs Act, passed by the Senate earlier this month. President Barack Obama is expected to sign it into law on Monday. The legislation provides Americans with “much needed flexibility

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Thursday, September 23, 2010 3:34 pm
By Jennie L. Phipps · Bankrate.com

If you’re a grandparent whose retirement planning includes giving a grandchild a substantial amount of money, this is the year to do it. Eric Reis, partner in the Dallas law firm of Thompson & Knight, points out that last year there was a gift tax of up to 45 percent and a generation-skipping transfer tax

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Wednesday, September 22, 2010 3:50 pm
By Jennie L. Phipps · Bankrate.com

I told my husband last night that I was going to write about ex-spouses being able to claim Social Security benefits on their ex’s work record and he got pale. But here’s some retirement planning good news. It wouldn’t cost my husband any money whatsoever if his ex-wife filed for Social Security based on his benefits.

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Tuesday, September 21, 2010 5:21 pm
By Jennie L. Phipps · Bankrate.com

A lot of the talk  about retirement planning focuses on big dollars — $1 million 401(k)s and maxing out Social Security by holding out until age 70, when you could potentially collect nearly $50,000 per year. For most people, retirement doesn’t work out this way. According to the U.S. Census Bureau, in 2008, the median

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