My Retirement Blog
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2008 Retirement Account Limits
In a few short months it’ll be 2008 and with a new year comes new retirement account contribution limits. For Individual Retirement Accounts (including Roth and Traditional IRAs), the contribution limit for 2008 is $5,000 if you are 49 and below. If you are 50 and above, you can contribute an additional $1,000 as a…
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My Thoughts on Money’s 13 Retirement Myths
I really enjoy these slideshows from Money but I almost wish they’d just list everything on one page and not force me to click through each one. In this particular edition, Money highlights thirteen Retirement Myths and I think it’s worth checking out. Here they are in summary: Myth 1: You need a big income…
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Check Diversification Across All Retirement Accounts
After years of working, changing jobs, and rolling around 401(k)’s and all the other accounts, it starts to get a little complicated and choatic in terms of getting all the accounts in order. One of the easiest things to do is lose track of your asset diversification because of all the different accounts and it’s…
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2010 Traditional IRA Conversion
If you’re currently not eligible to contribute to a Roth IRA because you’re being phased out, you should consider starting a Traditional IRA so that you can convert it to a Roth IRA in 2010, when income restrictions for those eligible to convert are lifted. Right now, if you earn more than $100,000, you are…
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How To Evaluate A Retirement Home
Smart Money ran a great article last month about the five things you need to look for in a retirement home. The most interesting part about the article is that they warn that you should focus not on the amenities (like a spa, a pool, the bells and whistles) but the core offering of the…
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9 Dumb Retirement Moves
Bankrate ran an article recently called Nine Dumbest Retirement Moves that I think is very appropriate for those of us earlier in the retirement planning process. These are all mistakes one can easily make if they aren’t being particular careful and all are easily avoided as long as one keeps retirement in mind, at the…
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Five Stages: Reconciliation
TheStreet.com, with AgeWave, Harris Interactive, and Ameriprise Financial, conducted a survey in 2005 in which they identified the emotional aspects of retirement and found similarities with Elizabeth Kubler-Ross’ On Death and Dying, which outlines the five stages of dying. It’s kind of creepy but the analogy is a useful one. The fifth and final stage…
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Five Stages: Reorientation
TheStreet.com, with AgeWave, Harris Interactive, and Ameriprise Financial, conducted a survey in 2005 in which they identified the emotional aspects of retirement and found similarities with Elizabeth Kubler-Ross’ On Death and Dying, which outlines the five stages of dying. It’s kind of creepy but the analogy is a useful one. The fourth stage of retirement?…
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Don’t Forget About Inflation
When you’re planning your retirement and figuring how much you’ll need each year to continue your current lifestyle, it’s very important to factor in inflation into your equation. The prime example is someone who is 10 years from retirement and trying to calculate how much they’ll need each year to continue their lifestyle. If they…
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