Ken Tumin is the founder of and a primary contributor to, an online hotspot for banking news and reviews. Like the other bloggers we’ve talked to for our series on bloggers’ retirement plans, Ken regards his site as an educational resource to help people make wise financial decisions. We caught up with Ken and got his thoughts on safe investments and how he’ll spend his retirement years.

When did you start saving for retirement?

My parents helped me start an IRA when I was in college and working part-time.

What kind of products do you use to save for retirement – a 401(k), IRAs, CDs, a mix of these and others? What made you decide on each one?

I recently rolled over a 401(k) into a traditional IRA at a major mutual-fund company. Inside the IRA I hold a mix of stock, bond and REIT mutual funds. I tend to favor index funds due to their low-cost management fees and for their diversification.

Outside of the 401(k) and IRA, I have invested in savings bonds and CDs at banks and credit unions. In the last 10 years, I’ve appreciated the safety of savings bonds and CDs. I know that I can’t lose principal in these investments.

How do you envision your retirement? When will it begin? How will you spend your time?

I would like to continue work into retirement, but I want it to be work that I enjoy without money pressures. Also, I don’t want to be tied down with long hours. In retirement, I want more time for travel. So I’ll need to have enough savings so that I have the freedom to pursue jobs that meet these requirements.

What advice do you have for someone who needs to begin saving for retirement but isn’t sure where to start?

Get in the habit of saving. If you’re not saving at least 5 percent of your pay for retirement, you should cut back on your expenses.


Did your parents help you get a start on retirement saving when you were young? How are you saving for retirement?