Retirement

New Survey Finds Retirement Readiness at the Top of Americans’ Financial Worries

Money affects just about every part of your life, so it figures that a good number of us have financial anxieties. But a recent Ally Bank survey found that there was one financial topic keeping savers up at night: being prepared for retirement. In our survey of more than 1,000 Americans, 37 percent said they […]

Retirement

Reminder: The 2012 IRA Contribution Deadline is Almost Here

You know April 15 is the deadline for filing your taxes. And you’ve probably been very focused on making that deadline. But in all that rush to submit your paperwork, have you remembered to mail in that IRA contribution check? Don’t forget: The same April deadline applies for making that retirement contribution. As U.S. News […]

Retirement

Does The ‘Four Percent Rule’ for Retirement Spending No Longer Apply?

Since the 1990s, retirees have been told to follow the ‘Four Percent Rule’ when it’s time to withdraw from their retirement savings. This rule states that you can pull out 4 percent from your retirement savings annually – plus a bit extra to cover inflation each year – and live comfortably. However, a recent story […]

Retirement

Are You Saving Enough for a Comfortable Retirement?

Maybe you have a pretty simple strategy for retirement savings: Every year, you deposit the legal maximum into an IRA. Or maybe you contribute just enough to your 401(k) so you can take full advantage of employer-matching. But are you saving enough? Will you have accumulated enough wealth by retirement to continue living the lifestyle […]

Retirement

How to Roll Over Your 401(k) to an IRA

Rolling over a 401(k) retirement account from an employer to an IRA can be a tricky business. You need to follow the right steps to make sure the process goes smoothly. “I think most people don’t understand that usually, when you transfer an account, a new institution pulls the funds from the previous institution,” explains […]

Retirement

The Dos and Don’ts of Planning for Healthcare During Retirement

Preparing for retirement health care costs just got a little more difficult. With this winter’s Fiscal Cliff deal, the federal government upped the deduction threshold for medical expenses from 7.5 percent of your adjusted gross income to 10 percent. The good news is this only applies to those over age 65. On the other hand, […]

Retirement

A 50-Something’s Guide to Starting to Save for Retirement

Dr. Don Taylor of Bankrate recently answered a reader inquiry about where people in their 50s should start if they have yet to get serious about saving for retirement. His strategy was pretty clear: “Jump in with both feet. Save until it hurts.” He noted that, at this age, you’re around 15 years (or less) […]

Retirement

Is It Ever A Good Idea To Dip Into Your Retirement Savings?

When you suddenly find yourself funding your daughter’s 600-guest wedding or covering unexpected expenses (like major storm damage), you may be tempted to raid your retirement savings. But you know that’s probably a bad idea. As AARP notes, “If you’re under 59 ½ years of age, you could face a 10 percent tax penalty plus have […]

Retirement

What I Wish I Knew About Retirement 20 Years Ago

Sometimes, you can learn from your past and change your future. Other times, you really do need a time machine to go back and reverse the course of history. Retirement is one of those goals you should ideally get right in the planning stages. But even when you do plan, you can find yourself in […]

Retirement

Are You Planning to Work During Retirement?

The Employee Benefit Research Institute’s 2012 Retirement Confidence Survey found that 60 percent of workers estimate their total household retirement savings and investments to be less than $25,000. If you’re unsure about how much you’ll need for retirement, you may find it helpful to spend some time with CNNMoney’s retirement calculators. And if you need more […]