December 14, 2011 | Older Americans increasingly are working well into their 60s or 70s to better prepare for retirement. Some take a phased retirement approach, working fewer hours or changing careers altogether. Easing into retirement can take many other forms: buying a second home early, taking more frequent vacations while still working or living on a smaller budget -- a form of "practice retirement" -- to name just a few.
August 19, 2009 | One of the most important decisions a retiree faces is deciding when to file for social security benefits. This decision will not only affect the retiree in his or her lifetime but it will also have a significant impact on a spouse throughout his or her lifetime. Many people have begun to refer to social security as “Longevity Insurance,” as it is arguably one of the best “annuities” available to an individual, with its cost of living adjustment and 100% survivor benefit.
May 3, 2009 | Unlike the traditional IRA, the Roth IRA provides no tax deduction for contributions, but instead provides for tax free withdrawal of earnings. For many individuals, the Roth IRA is an excellent financial planning tool because it provides a vehicle for shielding your long term investments from taxes. However, because of limiting eligibility requirements, many of our clients have been unable to take advantage of the Roth’s benefits. That will change in 2010, when a window of opportunity opens, enabling more people to participate in Roth IRA accounts.
December 12, 2008 | One of the most important and least-understood decisions we face as we approach retirement is when to start taking Social Security retirement benefits. Should you start early and receive benefits longer, or should you wait to get a larger monthly check? Unfortunately, many people make the wrong decision.
December 12, 2008 | Many employers offer 401(k) retirement plans, and it's usually a good idea to contribute to these programs. Contributions will lower your tax liability in the present, and the contributions often are matched (or partially matched) by the employer. The tax break and the match are basically free money. But 401(k) plans are not all alike. Companies have a great deal of flexibility, especially in the investment choices that are available to plan participants. Here are some questions that you should ask to determine how much you should contribute to your 401(k), or if you should contribute at all...
Retirement Rules of Thumb don’t always apply (USA Today)
January 1, 2012 | You may have celebrated the new year in 2000 more worried about whether your computer would work than whether you'd have enough for retirement. After all, you'd been saving diligently, and returns from stocks and bonds were spectacular. The upcoming new year may find you far less confident than you were going into 2000. Stock returns have been wretched. You may be able to save less, either because you're squeezed by the cost of living, or because you've had to take a lower-paying job.