retirement savings


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

Yes, participate in a 401(k)

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
Posted In: 401(k), rollover IRA, retirement savings

Parents and graduate school

Apr 9, 2012
What do you suggest is the best way for middle-income baby boomers to support their children's post-bachelor's degree educations? Anne, Burlington, VT
Posted In: Graduate school, student loans, retirement savings, personal finances

Pension assets are coming back, sort of

Apr 3, 2012
Yes, public pension plans are ripe for reform. But overhauling these plans is an opportunity to improve pension design for everyone.
Posted In: pensions, 401(k), IRAs, retirement savings, public pensions

To annuitize or not to annuitize -- with apologies to Shakespeare

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
Posted In: annuity, immediate annuity, retirement savings, 401(k), IRA, pension

Broken trust: A Ponzi scheme victim bounces back

Mar 21, 2012
After falling victim to Ponzi schemer Allen Stanford, Carol Lovil is getting her life back on track. But she worries she may never be able to trust anyone again.
Posted In: New York Times, Allen Stanford, ponzi, scheme, texas, Investing, retirement savings

A bleak snapshot of America's retirement future

Mar 13, 2012
Americans share little confidence in their ability to afford a comfortable retirement. The 22nd Retirement Confidence Survey by the Employee Benefits Research Institute is stagnant at historically low levels.
Posted In: Retirement, retirement savings, 401(k), IRA, healthcare