Hang on to your wallet, here come the IRA sharks. An email just landed in my mailbox, blaring “ROTH CONVERSIONS ARE HOT! Millions of Dollars are Being Transferred! HUGE commissions are being generated!” Sucker lists are circulating. The next phone call or snail mail you get might be from a “financial adviser,” urging you to [...]
Roth Individual Retirement Accounts are big news this year. For the first time, anyone with a traditional IRA can convert it into a Roth. You can spread the tax effects of a 2010 conversion over two years. And conversion sidesteps the usual 10 percent penalty on funds withdrawn from traditional IRAs prior to age 59 [...]
Fixing Social Security for the Boomers and beyond is a simple job. Blueprints abound, as they have for years. An adjustment in the payout formulas for new retirees (including a higher retirement age) and a small payroll tax increase would do the job. Gen X could then count on Social Security when they retire.
So why [...]
What can you do if you’re being forced to retire without enough savings? That’s a question I’m getting a lot, as I book-talk my way up the West Coast. The unfortunate answer is, you’re cooked.
Maybe you can find another job to tide you over for a few more years. But when your paycheck finally stops, [...]
When your paycheck stops, that’s it. You’re done. You’ll have to match your manner of living to the resources you have–this year and for the rest of your life. You’d think that would be obvious, but there are a lot of ostriches around. They don’t want to think about life without a regular paycheck until [...]
