All Retirement Articles

Q: Dear Debt Adviser, Help, I'm about $30,000 in debt. I have about $50,000 in my retirement. I will be 59½ years old in January. I had to go on disability from a fall at work. My house is paid for. Should I just take money out and pay off my loan? Could I just hire someone to (advise me)? I don't know what to do and am at my wits' end. I am not behind on any bills. -- Doris A: Dear Read more...

It's easy to know if your finances are in the same sorry state as the not-so-silent American majority. Just turn on the news and hear how Americans are struggling to make ends meet, with no relief in sight. If you're a member of the slender slice of the population that may actually be saving too much -- you probably feel lucky not to be amongst the financially distressed, but there's a good Read more...

Q: Dear Dr. Don, I have $300,000-plus in CDs in three different banks, all invested in regular IRA accounts. I am considering converting them to Roth IRA CDs and want to know if that is routine, or does it create some issues? I'm 67 but I do not have a need to draw on the accounts at this time. -- Bill Deposits A: Dear Bill, It's involved, but it's routine. Let's call it an involved Read more...

A leaking roof, a burst pipe or a skyrocketing electric bill are headaches no matter when they happen, but when you're on a fixed income and unprepared, they can become a financial crisis. Most people 45 and older want to stay in their home as they age, says AARP. If you're among them, plan for and make your repairs now while you can still increase your income or make spending choices that Read more...

Self-employed workers have the same retirement needs as the office-commuting population, only no beneficent employer offers carrots in the form of retirement benefits. So they have to grow their own. Fortunately, Uncle Sam helps out by letting small-business owners stash away retirement savings in tax-favorable accounts designed especially for them. SIMPLE IRA A SIMPLE IRA is just that Read more...

When you're 40, chances are you're not the same person you were at 20, and your estate plan should reflect the changes you've experienced. Here's a rundown of the estate-planning tools you should have if you're just beginning your life's journey, midway through or approaching the final leg. Young, single and carefree "When you're a child, your parents can make financial and medical Read more...

Forget about a leisurely retirement of golfing and cruising around the world. The retirement of tomorrow will be all about working. At least that's what three-quarters of American workers expect, according to Bankrate's most recent Financial Literacy poll. Bankrate commissioned Princeton Survey Research Associates International to ask both retirees and workers questions about retirement Read more...

In the wake of last year's stock market meltdown, some retirees are looking to real estate to supplement their income. Monthly rent payments or income from a reverse mortgage can help support a lifestyle otherwise out of reach for those with small nest eggs. But is it wise to try to tap the earning power of real estate so late in life? Over the long term, stock market returns Read more...

In today's volatile markets, many people are fleeing to safe investments while waiting out the storm. But this strategy could turn sour if the cost of living increases. Inflation should be a top concern for investors, especially among people facing retirement, says Michael Kresh, a Certified Financial Planner and author of "You Can Afford to Retire." "When you are trying to Read more...

Q: Dear Tax Talk, On April 13, 2007, I contributed $4,000 to my 2006 Roth IRA. The same year, I contributed $4,000 to my 2007 Roth IRA. My adjusted gross income for 2006 was over the $110,000 income limit. My adjusted gross income for 2007 was under the $114,000 income limit. I've already intermingled the money to buy and sell stocks. Overall, my Roth IRA account has a negative balance Read more...

Investors fed up with low returns on interest-bearing investments in their retirement accounts may find higher rates at hometown banks and credit unions. In some cases, local institutions offer IRA interest-bearing investments that pay out two to three times higher returns than national brokerage and investment firms. For example, Whitefish Credit Union Association in Whitefish, Mont., Read more...

It was the mailman's last day on the job after 35 years of carrying the mail through all kinds of weather to the same neighborhood. When he arrived at the first house on his route, he was greeted by the whole family there, who congratulated him and sent him on his way with a big gift envelope. At the second house they presented him with a box of fine cigars. The folks at the third house handed Read more...

Throughout the years, the first wave of baby boomers have crashed the shorelines of an age group with the subtlety of a tsunami, reshaping the landscape of expectations and leaving the norm in their wake. They didn't settle down in their 20s like previous generations, instead they protested against a war, against authority, against the status quo. The mantra of the day, "Don't trust Read more...

You spent years feathering your nest egg: tracking your investments, adjusting your allocation and sacrificing a percentage of your paycheck every month to finance a comfortable retirement. Who knew that would be the easy part. "The biggest challenge for people in retirement is recreating the income streams they had when they were working," says Daniel D'Ordine, a Certified Read more...

Q: Dear Dr. Don, We recently refinanced our home at a 4.625 interest rate for 30 years. I am currently 49 and my husband is 54. We both would like to retire in 10 years. I would like to know if it would be more beneficial for us to (1) pay an extra $500 per month to the principal of our loan to pay it off in 10 years or (2) put the extra money into our savings account (currently at 3.13 percent Read more...

America's retirement picture looks anything but rosy. Bankrate's recent survey reveals that 70 percent of Americans worry about saving enough money for retirement. And after getting burned in the recent bear market, only half (49 percent) believe stocks and stock funds offer the best chance for good long-term returns. Even American attitudes about homeownership are mixed. A whopping 92 Read more...

Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever-expanding life spans, many Americans could see their money dry up before retirement ends. Nearly three out of five middle-class retirees will likely run out of money if they maintain their preretirement lifestyles and don't reduce Read more...

If you work for a 501(c)(3) nonprofit organization or a public school, college, or university, you may have had a 403(b) plan for years (they've been around since 1958). If so, don't worry: The new regulations issued by the U.S. Treasury Department and the Internal Revenue Service in July 2007 have had plan administrators scrambling to get all their paperwork in order, but there's a good chance Read more...

Q: Dear Debt Adviser, I retired nine years ago, and I bought a house three years ago. I am getting a retirement pension from my previous job and a little from Social Security. I have been robbing Peter to save Paul and keep up with my credit cards. I was not behind in any payments, but now am at the point where I am using my plastic to buy essentials, food, gas, etc. I cannot do this any longer. Read more...