Retirement Blog

Friday, July 15, 2011 2:58 pm
By Barbara Whelehan · Bankrate.com

To ensure financial peace of mind, you need to accumulate as much wealth as possible, right? The two ideas are inextricably entwined, I’ve always thought. But SunAmerica’s recent poll segregated the two concepts and asked people age 55 and older which of the two more closely described their financial goals. Most of them — 82

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Thursday, July 14, 2011 10:52 am
By Jennie L. Phipps · Bankrate.com

The disappearance of old-fashioned pensions is changing the way we think about retirement and how we pay for it. Prudential Retirement examined the financial impact of having a defined-contribution plan like a 401(k) compared to having a defined-benefit pension, which is the old-fashioned kind. I found Prudential’s conclusions troubling because they confirm the difficulty that

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Wednesday, July 13, 2011 4:14 pm
By Jennie L. Phipps · Bankrate.com

Texas financial planner Steve Orr, author of “The Noisemakers, Why They Keep Losing Your Money and How to Make It Stop,” sent over this analysis of the cumulative cost of everyday spending and its impact on retirement savings. It made me feel guilty — so I thought I’d share. Orr writes: “Eliminating daily expenses can

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Tuesday, July 12, 2011 2:18 pm
By Jennie L. Phipps · Bankrate.com

With the U.S. Congress down to the nitty-gritty of deficit reduction, the nonpartisan Employee Benefit Research Institute took another look at suggestions to cap tax-advantaged contributions to 401(k)s and other retirement plans to the lower of $20,000 or 20 percent of income. We’ve talked about that, and it’s clear that most people here think it’s

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Monday, July 11, 2011 4:05 pm
By Jennie L. Phipps · Bankrate.com

Deciding where to live is an important part of retirement planning. The risk people take if they put off this kind of planning until options narrow is greatly increased cost, says Andrew Novick, an attorney and vice president of client services at Condor Capital in Martinsville, N.J. He points to the experience of one of

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Sunday, July 10, 2011 7:00 am
By Jennie L. Phipps · Bankrate.com

Bloomberg reported this week that Fisher Investments, the firm run by Forbes magazine columnist Kenneth Fisher, lost a private arbitration proceeding and may have to pay damages of $376,075 for breaching its fiduciary duty to a retired investor. According to Bloomberg, which was leaked a copy of the sealed decision, Sharyn Silverstein, 64,called Fisher Investments

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Friday, July 8, 2011 3:31 pm
By Barbara Whelehan · Bankrate.com

Automatic enrollment of workers in 401(k) plans may be backfiring, according to an article in yesterday’s Wall Street Journal. Citing an analysis performed by the Employee Benefit Research Institute, the Journal found that 40 percent of new employees are contributing less to their plans than they otherwise would if they had signed up on their

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Thursday, July 7, 2011 2:41 pm
By Jennie L. Phipps · Bankrate.com

Taxes can really punish anyone whose retirement planning includes saving a significant amount of money in tax-advantaged and taxable retirement savings accounts. If you’re not careful, Uncle Sam will take an unnecessarily big bite out of your nest egg. Here’s some savvy advice on how to allocate wisely between taxable and nontaxable savings accounts. It

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Wednesday, July 6, 2011 2:19 pm
By Jennie L. Phipps · Bankrate.com

More than 300 readers posted a comment on the retirement planning blog I wrote about the government’s flirtation with the idea of taxing, or at least removing, the tax-advantaged status of retirement accounts, including 401(k)s. As you can probably guess, almost everybody was against it. However, many of the posts were thoughtful — and Congress

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Tuesday, July 5, 2011 2:34 pm
By Jennie L. Phipps · Bankrate.com

John Turner, who runs the Pension Policy Center in Washington, D.C., thinks he has the answer to making Social Security solvent and a more useful factor in our retirement planning. Turner, who holds a Ph.D. in economics from the University of Chicago, turns 62 in a week. He recently wrote a book on the future

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