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RetirementRetirement can be a wonderful time of life, but it also brings new financial questions. For the first time, most people face their income coming from a combination of several sources, as opposed to a single regular paycheck. In addition, questions regarding federal programs, insurance, planned giving, and a variety of other topics become more prominent. Don't be overwhelmed - a good understanding of these issues is half the battle.
When you see a title of interest, click on it to view the complete article. (Note that links with the key symbol [  ] are locked to visitors and available to Web Members only.) One of the most important, and irrevocable, financial decisions many people ever face is whether to take their retirement money in a lump sum vs. annuitizing it. Here's a simple three-step process to help you evaluate this crucial decision.
Maintaining your estate tax documents probably ranks right up there with periodic medical exams on the list of things people most commonly put off. But SMI charter-subscriber, Jenny Migdal, has news on this front that is important for every reader to be aware of — whether you think your estate planning documents are in order or not.
For most investors during a bear market, the challenge is sitting tight and not taking too much action. But there's one financial move that is tailor made for bear markets: converting a Traditional IRA to a Roth.
Withdrawing your retirement money from the right accounts at the right time can reduce your tax liability and thus extend the life of your nest egg — perhaps by several years. This article goes beyond standard advice about "asset sequencing" and discusses finely tuned "withdrawal strategies" that can make your savings last even longer.
Most retirement articles deal with how much money needs to be set aside for retirement. Here, we take a look at the other side of the question: What amount can be withdrawn each year during retirement without depleting your assets too soon?
Deciding which funds to draw on first will depend on your answer this question: "Do I want to pass most of this money on to my family, or do I need to use it for my own retirement income?"
It's not only wise to have an annual physical checkup, it's a good idea to have an annual financial checkup too. Thankfully, you can do the financial one yourself.
You and your spouse may have never discussed that someday one of you is likely to be a widow or a widower. Talking now about the financial transition that will occur when that happens can make matters much easier for the surviving spouse.
Because of changes in the law, 2010 seems like the ideal time for holders of traditional IRAs to convert their accounts to potentially tax-saving Roth IRAs. But the decision of whether to convert or not is more complicated than it may appear.
Despite what you may think, Medicare isn't a "set-it-and-forget-it" health-insurance program. Getting the most out of Medicare requires doing homework and making tough choices.
A husband's decision to start receiving Social Security retirement benefits at age 62 could ultimately hurt his wife financially. It's worth thinking twice about taking "early" retirement.
Last year's losses among 2010 target-date funds ranged from -3.5% to -41.3%. Surprise! All target-date funds are not created equal.
The U.S. has enjoyed relatively low inflation for so long that the inflationary economic pain of the 1970s has been largely forgotten. But many economists say current government policy is a recipe for renewed inflation — perhaps at a level rivaling or exceeding the 70s. If high inflation returns, what kind of investments will offer the greatest degree of protection? Which are most likely to suffer loss? We evaluate the likely winners and losers of a potentially inflationary future.
In these times of tight credit, you might be eyeing your 401(k) retirement account as a source of quick cash. But before you "borrow from yourself," be sure you understand the downside.
What will the election outcome mean for your personal finances? It's a bit early to say, but it sure looks like we're headed toward significant changes in taxes and retirement accounts.
Fixed annuities practically sell themselves in a bear market. But how many investors who bought them will be well-served in the years to come?
The question of when to start receiving Social Security benefits is one that perplexes many seniors. We examine the tradeoffs between starting early and waiting to receive a higher monthly benefit, focusing on six key considerations you should take into account.
Statistics indicate those 65 and older face a 70% chance of someday spending at least some time in a nursing home. With the cost of that care averaging $73,000 per year, long-term care insurance has become an increasingly prominent retirement issue.
Reverse mortgages are a useful tool in unlocking the equity stored in a home, but it's important to understand what you're signing up for. Here are answers to 7 key questions concerning these backwards loans.
Most charitable gifts are pretty simple — you give, the charity receives. But how about a gift with an extra wrinkle — you give, the charity receives, and you get monthly income back from the charity for as long as you live?
Switching from decades of accumulating a retirement nest egg to actually living off of that savings is a tricky transition for many retirees. To make it simpler, some of the larger mutual fund companies are introducing new products that offer to manage the process for you. We evaluate whether that's an offer you should accept, or if you're better off handling it on your own.
The way you divide your portfolio between stocks and bonds has a bigger impact on your eventual returns than any other single decision. Has the difficult first half of 2008 driven you out of stocks? Or are you persevering, trusting the traditional superiority of stocks will once again reassert itself? In this article, we look at historical patterns and how they can be used to guide your portfolio allocations as you plan for retirement.
MESSAGE BOARDS
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