Jul 13, 2012
This week's letter segments tackles questions for the senior set.
May 16, 2012
I just graduated from law school and found the perfect job for me. Unfortunately, it does not offer a 401(k). I have a number of old 401(k)s from previous jobs, including a few that have been rolled over into Roth IRAs. Because I was in school for 3 years, I haven't been adding to my retirement saving for that period, thinking I could "make it up." To top it all off, my husband and I now make in excess of the maximum for IRA contributions. How should I be saving for retirement at this point? Jane, Los Angeles, CA
May 7, 2012
Why can I put more money each year into a 401(k) than I can an IRA? This is stupid. I'm currently a contract employee and can only put $6,000 a year into an IRA, since I'm 50 and can use the catch-up provision. Last year, as an employee of a company that offered a 401(k), I saved more than $12,000. Plus, my company matched very generously. Thanks, Ernie, Sunnyvale, CA
May 4, 2012
Labor economist Teresa Ghilarducci thinks it's time for the 401(k) to be replaced.
May 4, 2012
Fidelity said this week that our 401(k) account balances were up 8 percent on average in the first quarter of this year. But the major stock market indexes were up even more than that. So are 401(k)s really the right ticket to a happy retirement?
Apr 10, 2012
I have a Roth IRA, a retirement account from a previous job and a mutual fund. Shall I also begin a 401(k) with my new employment? Ivy, El Paso, TX
Apr 3, 2012
Yes, public pension plans are ripe for reform. But overhauling these plans is an opportunity to improve pension design for everyone.
Mar 30, 2012
Host Tess Vigeland and David Lazarus from the L.A. Times answer your personal finance queries.
Mar 29, 2012
I am ready to convert my 401(k) into an IRA. I am 61 years old and want to start taking annual distributions. The current balance in the 401(k) is $562,000 and I would like to withdraw 4 percent annually. Fidelity Investments is recommending a Guaranteed Annuity of $400,000 and the remaining in a managed portfolio fund (balanced). The annual fee for annuity is 1.90 percent of the balance and the managed portfolio 1 percent. These are the only fees. There is a 2 percent penalty if withdrawn within the first 5 years. Is this a good option, or should I keep the money in moderate conservative index funds? Emma, Las Cruces, NM
Mar 28, 2012
"A steadily growing portion of the workforce will continue to work at least part-time well beyond the 'normal' retirement age of 65," says a senior research fellow at the New America Foundation.