I came across a new online resource this week for finding information and ratings about employer 401(k) plans. The site is BrightScope. Apparently, the publisher of BrightScope has accessed company 401k records from the Department of Labor, the Securities and Exchange Commission, the U.S. Census Bureau, the Equal Employment Opportunity Commission, and the Bureau of Labor Statistics. [Read more…]
Archives for January 2009
The ranks of unemployed baby boomers are rapidly swelling, as businesses shed older workers through downsizing and attrition programs. (Some of these “attrition” programs are probably age discrimination programs.) Many of these out of work boomers are professional and white collar workers. Finding a new job can be tedious and expensive. [Read more…]
Inflation and interest rates are destined to change in the coming months, perhaps radically. These potential changes present significant risks to baby boomer investors. A CD ladder is often used as a safe way to control interest rate risk. A ladder of Treasury Inflation Protected Securities (TIPS) can provide both interest rate and inflation protection. [Read more…]
With tax rates heading up for many baby boomers and with 2010 presenting an opportunity for Roth IRA conversion, funding an IRA in 2008 and 2009 can be an important retirement planning strategy.
IRA funding limits for 2009 have been set for various scenarios and you should consider all of them.
I find it helpful to use online calculators to: (a) help determine whether a taxpayer is eligible for a traditional, Roth, Roth-conversion, and/or non-deductible IRA; and (b) help compare the relative financial benefits of each different IRA type. I have found two online IRA calculators that I like in particular. [Read more…]
Last fall Mrs. GoTo and I decided to take our first visit to an active adult community (also known as a 55+ community). We had been generally discussing the concept of downsizing in the not so distant future, so we thought we would begin exploring the various options for a downsized destination. Del Webb may be the best known developer of active adult communities. It has properties all over the country. Lake Providence is one of its newest. [Read more…]
This baby boomer and no doubt many others are giving more consideration to fixed annuities as alternative investment vehicles. Fear of more market losses and a need for a reliable source of retirement income is driving this.
A fixed annuity is a contract in which you surrender a lump sum of money to an insurance company in exchange for a guaranteed monthly income. [Read more…]
Oxford, Mississippi has received quite a bit of favorable publicity in recent years as a retirement destination for baby boomers. Mrs. GoTo and I have been there a couple of times and enjoyed it. Oxford is the home of the University of Mississippi. (Our third son is a student at Mississippi State University, the arch-rival of Ole Miss in Starkville.) [Read more…]
The answer to that question depends on how many working years you have in the system. [Read more…]