IRA, 401(k), and HSA Contribution and Funding Limits for 2009
January 8, 2009 by MJP
Filed under 401(k) Plans, Investing for Retirement, IRA's
Now is the time for baby boomers to consider and finalize plans for funding their retirement plans for 2009. I have thought about a variety of issues related to these funding decisions.
First, analyze your options if your employer has stopped matching 401(k) contributions. Read more
How to Apply for Social Security Benefits Online
January 7, 2009 by MJP
Filed under Social Security
At last the Social Security Administration is allowing us to apply for Social Security retirement benefits online. Until now, you had to visit a local Social Security office or attempt to apply by telephone. Now, there is a link directly from the Social Security home page. This is a fantastic development for web-savvy baby boomers who are expected to be applying for Social Security retirement benefits at a rate of 10,000 per day for the next twenty years. Read more
Is this a Good Time for Baby Boomers to Downsize?
January 6, 2009 by MJP
Filed under Downsizing
Many baby boomers have downsizing on their mind. Mrs. GoTo and I do. Some of that downsize thinking may have been interrupted by all of the bad news about the stock market and the economy. But has all of this bad economic news created favorable conditions for downsizing to a smaller, less expensive home? Read more
Why You Should Fund an IRA in 2008 and 2009
The issues related to funding of an Individual Retirement Account (IRA) are particularly complex for baby boomers for several reasons. Fear of investing after what happened in 2008 is certainly one of them. Nevertheless, I think that all baby boomers should give strong consideration to funding an IRA in 2008 and 2009. Read more
Jobs for Baby Boomers – Teaching Part-Time and Online
January 4, 2009 by MJP
Filed under Careers/Jobs
Mr. GoTo is an adjunct faculty member at a local university. I teach one course per year. It pays very little money but I enjoy it very much. I have been doing it almost continuously since 1986. Read more
Debt Reduction is more Important than Your Credit Score
January 3, 2009 by MJP
Filed under Mortgages, Debt, and Credit
If you are a baby boomer with a pile of consumer debt, you are not alone. Many economists and members of the younger generations are blaming us for the dramatic rise in the use of consumer credit. We baby boomers are also accused of inflating then collapsing the housing bubble. Read more
Baby Boomers, Jobs, and Starting a Small Business
January 2, 2009 by MJP
Filed under Careers/Jobs
Baby boomers are prime candidates for starting and running small businesses. According to the Kaufmann Foundation (www.kaufmann.org) which studies entrepreneurial activity in the U.S., Americans in the 55-64 age group start small businesses at a rate that is greater than all other age groups. Read more
Happy (and Optimistic) New Year!
January 1, 2009 by MJP
Filed under Boomer Lifestyle
Well, here we are in 2009. There is no better time than right now – today - to shed ourselves of the negativity and pessimism inflicted upon us by 2008.
I encourage all my fellow baby boomers and other readers to do just that. We should not forget about what has happened to our retirement plans. We definitely should not let 2008 cause us to discard our retirement dreams. Instead, we must acknowledge the damage of 2008 and let 2009 be the year of recovery for all of us. I am going to keep my head up, my eyes open, my brain engaged and push on with vigor and optimism. We can do this. Will you join me?
Happy New Year to all of you and thanks so much for reading and contributing!
Mr. GoTo
Image credit: Ayhan Yildiz
