Retirement Blog

Wednesday, June 29, 2011 11:56 am
By Jennie L. Phipps · Bankrate.com

If you’ve been delaying buying long-term care insurance as part of your retirement plan because you don’t think you’ll need it, you might consider a different flavor of this product — life insurance with a long-term care rider. An increasing number of insurers are offering it, including Sun Life, which just introduced these policies this

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Tuesday, June 28, 2011 1:27 pm
By Jennie L. Phipps · Bankrate.com

Before economist Joanne Hsu’s parents retired, they invited their 29-year-old daughter to sit down and examine their financial records. “They showed me everything — all their retirement planning. My father wanted to put my mind at ease that they almost certainly would never have to rely on me,” Hsu said. Hsu’s mother is an accountant and

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Monday, June 27, 2011 3:40 pm
By Jennie L. Phipps · Bankrate.com

Before you succumb to the doomsayers, read the recently released Social Security Board of Trustees’ 2011 annual report on the financial health of the program. If it doesn’t put you to sleep first, this bipartisan report should calm some of your retirement planning fears about this source of income going away. The report didn’t point

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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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