Retirement Blog

Tuesday, December 20, 2011 3:42 pm
By Jennie L. Phipps · Bankrate.com

If you have a special needs child, grandchild or other loved one you plan to give a significant gift to this holiday or as part of your retirement planning, Shomari Hearn, a certified financial planner with Palisades Hudson Financial Group’s Fort Lauderdale office, advises that you give these gifts carefully. Hearn, who is an expert

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Monday, December 19, 2011 5:01 pm
By Jennie L. Phipps · Bankrate.com

The unemployment rate for people older than 55 is 7.3 percent — relatively low compared to that of younger people, but a recent report from the Congressional Research Service said once older people have lost a job, it is hard for them to find another. About 50 percent of out-of-work people older than 55 have

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Sunday, December 18, 2011 6:00 am
By Jennie L. Phipps · Bankrate.com

We’re only a dozen days from the end of the year, and if you haven’t contributed enough to get the full employer match from your 401(k) retirement plan, better get cracking. Here’s the reason why. Some people argue that 401(k) matches actually just reduce the amount of income that employers pay workers. That is, if

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Friday, December 16, 2011 3:42 pm
By Barbara Whelehan · Bankrate.com

I’m looking forward to retirement because I’ll be able to spend my time reading to my heart’s content. My first love is fiction because of its power to transport readers to new realms. But nonfiction titles can expand horizons in a different way. Free books are one of the few perks enjoyed by journalists, and

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Thursday, December 15, 2011 3:58 pm
By Jennie L. Phipps · Bankrate.com

Former child star and current Social Security spokeswoman Patty Duke turned 65 this week. I used to watch the Patty Duke Show — in black and white with lots of fuzz. But I didn’t care; I was a fan. Now, 48 years later, I have a perfectly clear, flat screen TV, fuzzy eyesight and a

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Wednesday, December 14, 2011 5:20 pm
By Jennie L. Phipps · Bankrate.com

About 25 percent of the 5 million Americans who have been unemployed for a year or more are between the ages of 55 and 64. Of those, about half have been unemployed for at least two years, and 26 percent haven’t worked in three or more years, according to a survey by the Kaiser Family

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Tuesday, December 13, 2011 5:01 pm
By Jennie L. Phipps · Bankrate.com

Get ready to make a retirement planning decision. If you are eligible for a pension from a former employer that is worth more than $5,000, it is likely that early next year you’ll hear from that former employer offering you a lump-sum, cash-out option. This is one of the tenets of the Pension Protection Act,

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Monday, December 12, 2011 3:02 pm
By Jennie L. Phipps · Bankrate.com

I like this retirement planning survey from insurance company The Hartford. It surveyed people living in retirement and found that people who had made the leap were glad they did. Some 77 percent said, “I am happier now that I am retired.” About 42 percent wish they had retired sooner. Twenty-two percent say they are

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Sunday, December 11, 2011 6:00 am
By Jennie L. Phipps · Bankrate.com

If you left a 401(k) with a former employer, now might be a good time to reconsider moving it. The best reason to roll your 401(k) out of your former employer’s plan is convenience, says Spencer Williams, who is the CEO of RSI, a Charlotte, N.C., firm that manages retirement account transfers for corporations.  It’s a

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Friday, December 9, 2011 8:00 pm
By Barbara Whelehan · Bankrate.com

It’s a foregone conclusion that most people want to keep more of their earnings in their pocket by paying less in taxes. But some people are questioning the wisdom of extending the payroll tax cut adopted last year. Our leader, however, is adamant about extending them. “This is about making sure that everybody is doing

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