Are Annuities the New Pension?

I have thought and written extensively about the benefits, costs, and risks of immediate and variable annuities for retirement. Now even the White House is suggesting that more boomers consider using annuities to provide lifetime retirement income. Read more

Should You Rent or Buy a Home in Retirement?

Rent or buy? This is a question that is taking on more significance for those of us preparing to retire. Owning your own home in retirement used to be an assumed goal. That was when having paid off your mortgage was also assumed. No more. Many boomers are still lurching their way toward retirement dragging an anchor: a big mortgage. Does that make sense? Probably not. Read more

Life Downsizing and Simplifying the Boomer Way

I’m making tangible progress on my attempts to simplify and downsize my life. This is happening at home and at the office. Check out what I’m doing. Maybe it will inspire you? Read more

Forecasting Retirement Income Success

One of the retirement planning tools I use comes from Financial Engines via my 401(k) provider. This service is free to all account holders. If you enter your retirement income goals and information about retirement income sources (investments, pension, and Social Security), Financial Engines will generate and email a periodic progress report and retirement forecast. Read more

Finance Professionals Bid to Help You Online

I’m mostly a do-it-yourself financial planner. But sometimes we all could benefit from professional advice to help us through a complex finance, tax, or estate planning problem. Even then we procrastinate or avoid the issue because of (a) the expense and/or (b) the hassle of having to locate a professional, make an appointment, and visit their office. Now there is a way to receive personal finance and tax advice online. Read more

Boomer Travel and Airline Bag Fees

I hate what the airlines are doing with bag fees in a desperate attempt to remain profitable. Only Southwest Airlines is holding the line on these fees so it will continue as my airline of choice. Read more

Downsizing and the Sunk Cost Fallacy

Two of the major obstacles to successful downsizing are the practical and emotional costs of getting rid of “stuff.” We baby boomers have spent years acquiring our stuff and we are reluctant to part with it. I have less of that problem now than I used to. Yet I still struggle with discarding things that to me should have monetary value. If I give my stuff away (or even throw it away), I am losing that value. Thus enters the “sunk cost fallacy.” Read more

How Many Vehicles Will You Own in Retirement

As pre-retirement baby boomers, my wife and I own three vehicle: one for each of us for everyday use and an older SUV for towing. I don’t like the cost of maintaining and operating three vehicles. I envision the day when we will have only two and, when I fully retire, perhaps only one. Read more

Risk Free Yield with I-Bonds and Other Boomer and Retirement Readings

I am a fan of I-Bonds and use them in our retirement emergency fund and-with TIPS-as part of our plan for guaranteed retirement income. Now a “Boglehead” financial expert has written a series for Forbes, presenting his arguments for using I-Bonds to provide risk-free yield. Read more

New Types of Variable Annuities for Retirement

There is a transformation of sorts occurring in the annuity market. Some of the large sellers of annuities to baby boomers and retirees are introducing new annuity products that are simplified and/or that offer new features. Let’s look briefly at a couple of these new types of annuities. Read more

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