Income Tax Refunds and Your Retirement Plan

Federal income tax refunds present two problems for the retirement saver. That’s right, problems. Let me explain, in just a few words. Read more

Delayed Retirement and Money Problems

No one wants to be forced to retire by age or health problems. Conversely, no one wants to be forced to delay a planned retirement. Unfortunately, that is the case for many over-60 baby boomers. Money is the number one reason. Read more

Do You Have a Shared Vision and Plan for Retirement?

Retirement for a married couple can be tricky. First, husband and wife need to be on the same page financially. Second, the couple should have a shared vision of what their retirement lifestyle will be like. Third, husband and wife should reach some understanding as to when retirement will begin for each of them. A recent survey reported by Fidelity Investments indicates that there are retirement problems ahead for many couples, in all of these areas Read more

A Simple Way to Determine Retirement Readiness

Am I financially able to retire? Isn’t that the number one question being asked by older baby boomers when thinking about retirement? It has to be in the top five. There are dozens of ways and places to find answers to the retirement readiness question. Read more

What to Ignore and Watch for in the New Credit Card Rules

If you are a baby boomer who is serious about being financially prepared for retirement, there are (in my humble opinion) some very good reasons why you can ignore the new credit card regulatory rules that went into effect on February 22. There are also some important changes to watch for. Read more

Collecting Social Security Benefits While Living Abroad

You may be are curious about how living as an expat abroad (or traveling for an extended period) may effect your Social Security Retirement Benefits. Fortunately, the rules are not too complicated. Read more

Your Tax Refund Introduction to I Bonds

Regular readers know that I am a fan of I-Bonds and TIPS for retirement savings. If you are at all concerned about future inflation (and you should be), you should own TIPS and/or I-Bonds as part of a diversified portfolio. This year, the federal government is making it easy for you to buy I-Bonds, also known as Series I U.S. Savings Bonds. Read more

Using the Retirement Savings Credit

I have found in my experience as a volunteer tax return preparer that some folks are unaware of (or forget) the retirement savings credit that is available to some taxpayers. The basic principle for this credit is this: If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement account (IRA), you may be able to take a credit against your federal income taxes. The amount of the credit you can get is based on the contributions you make and your “credit rate.” Read more

Retirement Income Predictions from Your 401(k)

Many 401(k) plan sponsors and participants seem to forget or overlook that 401(k) plans were intended to get people to retirement but not necessarily through retirement. Consequently, most of the focus has been on accumulation – the size of the account – with too little attention paid to the retirement income that a future retiree can expect to receive from that account. Fortunately, this may be starting to change. Read more

Canadians Not Prepared for Retirement

We’ve all read the articles about how so many baby boomers in the U.S. feel unprepared for retirement. A lot of the feelings of being unprepared are based in reality: They just don’t have enough money put away to comfortably live on in retirement.  It seems that Canadian baby boomers are in a similar state of mind about their retirement. Read more

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