retirement savings

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High fees erode retirement savings

May 10, 2012
Fees matter. Financial companies love to talk about compounding returns. But fees compound too.
Posted In: retirement savings, 403(b), fees

A startling health-care bill

May 9, 2012
The mutual fund giant Fidelity calculates that a 65-year-old couple retiring in 2012 will need around $240,000 to cover medical expenses through their retirement. Ouch!
Posted In: health care, medical expenses, Retirement, retirement savings

The complex universe of retirement savings plans

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
Posted In: retirement savings plans, retirement savings, 401(k), Roth-IRA, sel-employed

Is the 401(k) still the best retirement plan?

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?
Posted In: 401(k), retirement savings

The 401(k): A failed experiment?

May 4, 2012
Labor economist Teresa Ghilarducci thinks it's time for the 401(k) to be replaced.
Posted In: 401(k), retirement savings, retirement planning, Joe Nocera, New York Times

An age gap and retirement portfolios

May 2, 2012
How do you plan your investments when you're planning for people of different ages? If a family has one person who is of retirement age and another who's much younger, how should common investments be allocated? Conservatively (keeping in mind the older person) or aggressively (in the interests of the less old person)? Thanks!!! Rina, Bronx, NY
Posted In: retirement savings, asset allocation, diversification, Marriage and money

Retirement savings is gone. Now what?

Apr 27, 2012
Hi. I'm 53 years old and have had to go through the little bit of my retirement savings. Now, I have $5,000 to start something, as far as retirement goes. What should I do? I do not have anything through work. Actually, my workplace is on brink of closing right now. Lisa, Louisville, KY
Posted In: Roth-IRA, retirement savings, Work, Social Security

Too much going into retirement accounts?

Apr 19, 2012
Outside of my 403(b) Base Program, which my employer matches 10% to my 5%, how much should I sock away in a 403(b) Supplemental? Currently, I contribute 5% to a 403(b) Supplemental, for a total of 20% of 110% of my paycheck. I fully fund a ROTH IRA every year, so I am wondering if I should be saving more of my paycheck to a more liquid asset. Michael, Haslett, MI
Posted In: retirement savings, Savings, taxable accounts

Experiment before picking up stakes

Apr 17, 2012
I'll be retiring in a few months and my husband is already retired. We are thinking of selling our home in Florida and moving to California to be closer to our children and grandchildren, who live in Los Angeles. Another option might be to keep the house in Florida, buy an RV and camp out in an RV park in California until we wear out our welcome. What are some of the pitfalls that we should try to avoid? Nancy, Milton, FL
Posted In: Retirement, retirement savings, move, rent, family finances

Funding an IRA when retired

Apr 11, 2012
My wife and I just retired last June. She just turned 60 and I will turn 59 soon. We own our home and cars, we have no credit card debt and our savings (not including retirement accounts) is almost $100,000. Our kids both finished college without accruing debt (thank you very much!). As I completed our taxes this spring, the amount owed is almost $2,400. If we open an IRA for $8,000, the amount owed drops to under $1,200. Does it make sense for us, at this point in our lives, to invest in the IRA for the tax savings? Part of me says it is a no-brainer; the other part says that investing in an IRA when you are already retired doesn't pass the common sense test. What do you think? Mike, Blue Earth, MN
Posted In: Retirement, retirement savings, retirement work savings, IRA

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