Retirement Blog

Thursday, February 17, 2011 3:01 pm
By Jennie L. Phipps · Bankrate.com

My 64-year-old accountant husband has spent our entire Florida vacation this year staring at spreadsheets and IRS rules, calculating retirement account scenarios. He’s considering taking the retirement plunge, and even after more than 25 years of managing other people’s money, he’s nervous about having to depend on his skills to pay our bills. Living without

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Wednesday, February 16, 2011 1:00 pm
By Jennie L. Phipps · Bankrate.com

Don’t retire naked. Leaving health insurance out of your retirement planning is a risky idea. Two-thirds of personal bankruptcies are the result of medical expenses, according to a study by the American Institute of Certified Public Accountants. Beginning this year, the government has expanded its Pre-Existing Condition Insurance Plan, or PCIP. The program is part

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Tuesday, February 15, 2011 2:55 pm
By Jennie L. Phipps · Bankrate.com

President Barack Obama announced his 2012 budget proposal Monday, throwing a few bones to people living in retirement and attempting to wrest a few away. Here’s how the 2012 budget proposal would most directly affect your retirement planning: Money in retirees’ pockets. The biggest offering is a $250 “economic recovery” payment that would cost $15 billion

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Monday, February 14, 2011 4:00 pm
By Jennie L. Phipps · Bankrate.com

If you look back at the comments on this retirement planning blog regarding Social Security, you can read a host of opinions from people who believe the program should be either eliminated or radically overhauled. Not many articulate responses have been posted by people who are supporters of Social Security. So in the interest of

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Sunday, February 13, 2011 10:00 am
By Jennie L. Phipps · Bankrate.com

Here’s some good retirement planning news. The Internal Revenue Service decided last month that money paid to a financial adviser for managing your IRA doesn’t have to be subtracted from your annual IRA contributions limit. The IRS says that if you’re paying a fee calculated as a percentage of the assets your adviser manages, then

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Friday, February 11, 2011 4:46 pm
By Barbara Whelehan · Bankrate.com

At a recent editorial meeting here at Bankrate, one of my colleagues suggested we run a story challenging the rule that retirees withdraw no more than 4 percent from their portfolios during retirement. It seemed to him that the rule was too rigid and not applicable in every situation. For example, if a retiree’s portfolio

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Thursday, February 10, 2011 4:08 pm
By Jennie L. Phipps · Bankrate.com

For some people, retirement planning includes finding a job. But if you’re over 55 and looking for a job, plan on searching for a long time. A report from the Congressional Research Service says that 11.51 percent of  unemployed adults ages 55 and over had spent the last two years looking for work. Among unemployed

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Wednesday, February 9, 2011 3:28 pm
By Jennie L. Phipps · Bankrate.com

It’s tax time again. Lots of people who are living in retirement don’t earn enough money to be required to file. But this year, low earners are entitled to some financial help from Uncle Sam – but in order to get it, you have to file taxes. The two best deals are the earned income tax

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Tuesday, February 8, 2011 4:54 pm
By Jennie L. Phipps · Bankrate.com

The typical second-home buyer is a baby boomer, according to a 2010 survey by the National Association of Realtors. About 25 percent of second-home owners rent out their properties, the survey found. The rest use them for vacations and weekends an average of 50 days per year and otherwise, the properties sit vacant. Some 26

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Monday, February 7, 2011 4:44 pm
By Jennie L. Phipps · Bankrate.com

Here’s a little retirement planning exercise. See if you agree. If you ruled the world and you could fix Social Security, how would you do it? The University of Maryland Program for Public Consultation asked that question of about 2,000 people and found that given a series of possibilities and the percentage of the problem

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