Retirement Blog

Sunday, June 26, 2011 7:00 am
By Jennie L. Phipps · Bankrate.com

My sister-in-law is mildly mentally handicapped. Despite that, she’s managed to live on her own her entire adult life, working mostly as a hotel maid. As she’s gotten older, paying the bills has gotten harder. In the process of trying to help, I found the National Council on Aging’s BenefitsCheckUp.org. It’s a wonderful site that

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Friday, June 24, 2011 12:59 pm
By Barbara Whelehan · Bankrate.com

What would you prefer: A financial product providing a 4 percent return guaranteed not to lose value? Or would you rather invest in a product with an 8 percent return that is subject to the whims of the market and may lose principal as a result? Three out of four Americans (76 percent) voted for

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Thursday, June 23, 2011 2:55 pm
By Jennie L. Phipps · Bankrate.com

Actor and producer Danny DeVito must be doing a little retirement planning. Today, DeVito, 66, posted on Twitter (@DannyDeVito) his opinion of any move to cut Social Security or raise the retirement age: “Don’t raise da retirement age! You expect folks to bop till they drop? you gon have a truck driver on da road

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Wednesday, June 22, 2011 2:48 pm
By Jennie L. Phipps · Bankrate.com

If the 2008 economic meltdown or its aftermath left you unemployed, chances are it took a big bite out of your retirement planning. Transamerica Center for Retirement Studies concluded that the people most likely to have lost their jobs and burned through their retirement savings were: More than 40 years old — 65 percent. Lacking a

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Tuesday, June 21, 2011 2:15 pm
By Jennie L. Phipps · Bankrate.com

If you’re enrolled in a Medicare Part D plan and you’re being overcharged for the prescription drugs you take, it can throw you prematurely into the infamous “doughnut hole.” This issue isn’t straightforward because what a pharmacy charges can vary greatly. “This is one of the most confusing aspects of Medicare,” says Adrienne Muralidharan, senior

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Monday, June 20, 2011 11:15 am
By Jennie L. Phipps · Bankrate.com

My husband and I received our annual long-term care insurance bills Saturday, and sometime in the next month, we’ll each have to write hefty checks. Our combined bill comes to $3,367, which is not small potatoes. When we bought the insurance 10 years ago, we considered using the monthly payment plan offered by the insurer.

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Sunday, June 19, 2011 7:00 am
By Jennie L. Phipps · Bankrate.com

Reader Lou Rose responded to yesterday’s post about retired Professor Robert Pritchard’s suggestion that Social Security eliminate penalties for working and collecting between age 62 and full retirement age. He wrote that he and his wife were working past full retirement age — 66 — in order to save at least a year’s worth of

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Thursday, June 16, 2011 3:08 pm
By Jennie L. Phipps · Bankrate.com

How satisfied are you with your investment adviser? Is he or she meeting your retirement planning expectations? For the ninth year, J.D. Power and Associates has published its investor satisfaction survey. Annually, it asks more than 4,000 investors to rate their adviser on these factors. You might use these criteria to rate your own retirement

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Wednesday, June 15, 2011 2:20 pm
By Jennie L. Phipps · Bankrate.com

Here’s how to make a boomer happy. Let him or her celebrate a 62nd birthday, draw Social Security and still keep working at full pay. Unfortunately, the system doesn’t work that way. Today, people who are between 62 and full retirement age — 65 or 66, depending on their age — can claim Social Security, but if

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Tuesday, June 14, 2011 2:23 pm
By Jennie L. Phipps · Bankrate.com

A comment posted by reader John Crowley to yesterday’s blog about managing retirement income said he thought the retirement planning estimates of what it takes to live comfortably are too high, so I contacted him and in response to my email, Crowley wrote: “I feel that many projections of what it takes to live comfortably

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