Retirement Blog

Monday, February 13, 2012 10:11 am
By Jennie L. Phipps · Bankrate.com

As we watch Greece implode over reforms that call for shrinking pensions and a reduction in the minimum wage, I noticed this particularly frightening, close-to-home statistic, published by the Center for Retirement Research at Boston College: “According to the U.S. Bureau of Labor Statistics, nearly one-third of men between the ages of 55 and 61

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Sunday, February 12, 2012 6:00 am
By Jennie L. Phipps · Bankrate.com

This winter, my 65-year-old accountant husband is working at our Florida condo one week and flying back to Detroit to work in the office the next. We’ve always made spending the winter in the warmth part of our retirement planning. But now that we are actually implementing the plan, my husband hates it. The weeks

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Friday, February 10, 2012 6:00 pm
By Barbara Whelehan · Bankrate.com

A new poll by the Pew Research Center reveals that the age at which children should be financially independent, according to parents, has crept up over the past decade. In 1993, 80 percent of parents said children should be independent by age 22. But in the new poll, only 67 percent of parents agreed with that

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Thursday, February 9, 2012 5:36 pm
By Jennie L. Phipps · Bankrate.com

Fidelity Investments, which manages more 401(k) accounts than any other company, released a good-news/bad-news quarterly retirement planning report today. The good news is employees are saving more, and employers are shelling out more in matches. Employee contributions rose in 2011 to $5,750, up from $5,680 in 2010. At the same time, employers kicked in an

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Thursday, February 9, 2012 9:23 am
By Jennie L. Phipps · Bankrate.com

The National Association of Home Builders is holding its annual convention in Orlando this week, and one of the major themes is the growth of the age-55-plus market. It’s a bright spot in a business that has been dismal for five years. W. Don Whyte, president of Kennecott Land in South Jordan, Utah, and chair

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Tuesday, February 7, 2012 12:23 pm
By Jennie L. Phipps · Bankrate.com

Sarah Toevs, director of the Center for Aging at Boise State University, calls the baby-boomer bulge “Humpty-Dumpty,” after the egg-shaped population bulge all those births caused. She sees Humpty as a retirement-planning problem of major proportions. For at least a millennium, the population has been distributed with a large base of young people at the

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Monday, February 6, 2012 4:32 pm
By Jennie L. Phipps · Bankrate.com

I grew up in West Virginia in a family where “waste not, want not” was practically a religious tenet. It has taken me at least 50 years to get over the notion that leaving food on my plate isn’t a sin. So I found the study that retirement services provider ING US released last week

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Sunday, February 5, 2012 6:00 am
By Jennie L. Phipps · Bankrate.com

Last week, the U.S. Treasury Department proposed changing Internal Revenue Service rules to make it easier for people saving for retirement — or actually living in retirement — to use some of the money in their 401(k)s to buy annuities that guarantee monthly payments until they die. These changes are a real retirement-planning boon. Here

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Friday, February 3, 2012 5:01 pm
By Barbara Whelehan · Bankrate.com

401(k) fee disclosures have been delayed once again. A couple of years ago, we were promised that by January of 2012, we would be told how much our 401(k) plans cost. Then last July, the Department of Labor issued a final regulation, postponing the effective date for 401(k) fee disclosure to April 1 of 2012

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Thursday, February 2, 2012 4:01 pm
By Jennie L. Phipps · Bankrate.com

Retirement planning gurus often say flatly that you MUST replace 80 percent of your income and you can ONLY spend 4 percent of your nest egg annually. These are great rules of thumb, but for some people, they don’t make a lot of sense. I propose a different rule, one that works for almost everyone 

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