Personal Finance Latest News

  • Americans Are Putting Billions More Than Usual in Their 401(k)s Bloomberg - Wed, Jan 4, 2017 11:00 PM NZDT
    Americans Are Putting Billions More Than Usual in Their 401(k)s

    But employer auto-enrollment, rather than employee financial intelligence, may be the reason.

  • Social Security Checks Are Being Reduced for Unpaid Student Debt The Wall Street Journal - Wed, Dec 21, 2016 1:13 PM NZDT

    The federal government is increasingly taking money out of Americans’ Social Security checks to recover millions in unpaid student debt, a trend set to accelerate as more baby boomers retire. The government has collected about $1.1 billion from Social Security recipients of all ages to go toward unpaid student loans since 2001, including $171 million last year, the Government Accountability Office said Tuesday. The report highlights the sharp growth in baby boomers entering retirement with student debt, most of it borrowed years ago to cover their own educations but some used to pay for their children’s schooling.

  • How Much Cash Would It Take to Get You to Delay Retirement? Bloomberg - Wed, Dec 21, 2016 3:30 AM NZDT
    How Much Cash Would It Take to Get You to Delay Retirement?

    Here’s how many minds a lump sum of $60,000 changed.

  • Republican looks to overhaul Social Security Associated Press - Wed, Dec 14, 2016 6:30 AM NZDT
    Republican looks to overhaul Social Security

    WASHINGTON (AP) — A senior Republican lawmaker wants to overhaul Social Security, the decades-old program that provides benefits to some 60 million retirees and disabled, with a plan to gradually increase the retirement age and slow the growth of benefits for higher-income workers.

  • The Best Ways to Avoid Boredom in Retirement The Wall Street Journal - Mon, Dec 12, 2016 4:43 PM NZDT
    The Best Ways to Avoid Boredom in Retirement

    Why do some people get bored in retirement and others don’t? Is there a secret? Good question. Let me start by describing what many Americans do in their first year in retirement, give or take a few months. ...

  • GOP introduces plan to massively cut Social Security Yahoo Finance - Sat, Dec 10, 2016 11:22 AM NZDT
    GOP introduces plan to massively cut Social Security

    On Thursday, Rep. Sam Johnson, a Republican from Texas and chair of the Social Security subcommittee, introduced legislation to significantly cut Social Security. For most workers, the bill would cut Social Security benefits substantially. As Michael Linden, associate director for tax and budget policy at Center for American Progress, pointed out on Twitter, a letter from Social Security’s Office of the Actuary calculated workers making around $50,000 would see checks shrink by between 11% and 35%.

  • Possible Retirement Policy Changes in a Trump Administration Morningstar - Tue, Dec 6, 2016 7:00 PM NZDT

    Contributor Mark Miller takes a look at retirement-related issues that could see action in Washington in the coming year.

  • Richest Americans live seven to 10 years longer than poorest Reuters - Tue, Dec 6, 2016 4:40 AM NZDT
    Richest Americans live seven to 10 years longer than poorest

    By Ronnie Cohen (Reuters Health) - Poverty cuts an average of almost 10 years off American men’s lives and seven off women’s, a new study shows. Then they examined longevity, smoking, obesity, childhood poverty and other health information from the richest and poorest places. Men in the poorest spots died on average nearly 10 years earlier, at 69 years old, than men in the wealthiest ones, and women in the poorest places died on average seven years sooner, at 76 years old, the research team reports in the American Journal of Public Health.

  • The New Retirement-Advice Rule: Where Things Stand The Wall Street Journal - Mon, Dec 5, 2016 5:28 PM NZDT
    The New Retirement-Advice Rule: Where Things Stand

    A new rule that proponents say will protect retirement savers from conflicted advice and inflated fees is looking more likely to be delayed or repealed in the coming months in the wake of Donald Trump’s victory in the presidential election. The Labor Department’s so-called fiduciary rule, set to take effect April 10, 2017, requires brokers and others who give retirement advice to act in clients’ best interests. Previous rules required that brokers’ advice merely had to be “suitable” for a retirement investor.

  • 5 things to do by New Year's Eve to lower your tax bill Yahoo Finance - Fri, Dec 2, 2016 7:56 AM NZDT
    5 things to do by New Year's Eve to lower your tax bill

    Charitable donations are an easy way to get a tax deduction, and the most obvious way to make a donation is to write a check. According to the IRS, a donor claiming a deduction of $250 or more is required to obtain and keep a written acknowledgment for a charitable contribution, so be sure to get a donation receipt. Your tax bracket depends on your income.

  • 10 Things You Need to Know About Medicare U.S.News & World Report - Wed, Nov 16, 2016 4:43 AM NZDT
    10 Things You Need to Know About Medicare

    Here's how to make the most of your Medicare benefit. Hospital care is covered by Medicare Part A. Medicare Part B is medical insurance that covers doctor's visits and outpatient services. Medicare Advantage Plans or Medicare Part C are an alternative to traditional Medicare offered by private insurance companies, typically with different premiums and restrictions.

  • 6 Ways to Stretch Your Retirement Income Credit.com - Tue, Nov 15, 2016 1:00 AM NZDT
    6 Ways to Stretch Your Retirement Income

    No matter what phase in life you're at, you may want to consider the following cost-cutting measures to help you stretch your retirement income.

  • Trump presidency throws retirement advice rule into question Reuters - Thu, Nov 10, 2016 7:03 AM NZDT
    Trump presidency throws retirement advice rule into question

    Republican Donald Trump's victory in the U.S. presidential race puts a new rule on retirement advice in limbo, even after Wall Street's biggest wealth management firms have spent millions preparing for it, lawyers and analysts said on Wednesday. The U.S. Department of Labor fiduciary rule, which is set to start taking effect in April, is meant to promote the best interests of retirement savers by eliminating conflicts of interest for brokers. The financial services industry has tried to stop the rule in the courts, arguing that the Labor Department overreached and that the rule would result in high costs that will ultimately make small accounts unprofitable.

  • 10 Social Security Rules Everyone Should Know U.S.News & World Report - Tue, Nov 8, 2016 6:06 AM NZDT
    10 Social Security Rules Everyone Should Know

    How much you earn and your age when you sign up play a big role in how much you will receive from Social Security. Workers who familiarize themselves with the Social Security rules will be better able to maximize their payments. Pay close attention to these aspects of the program when making Social Security decisions.

  • How Retirement Benefits Will Change in 2017 U.S.News & World Report - Tue, Nov 8, 2016 1:00 AM NZDT

    Financial advisors managing 401(k)s and individual retirement accounts will be required to act in the best interest of their clients beginning in April 2017. There will also be several small tweaks in the rules regarding who qualifies for tax breaks for saving in retirement accounts. Here's a look at some of the important ways retirement benefits will change next year.

  • The One Portfolio Move to Make Before Year-End Morningstar - Mon, Nov 7, 2016 7:00 PM NZDT
    The One Portfolio Move to Make Before Year-End

    This simple maneuver can de-risk your portfolio, create in-retirement cash flows, improve your tax position, and more.

  • Why Your 401(k) Fees Aren’t Lower The Wall Street Journal - Mon, Nov 7, 2016 6:11 PM NZDT
    Why Your 401(k) Fees Aren’t Lower

    Indeed, 401(k)s and their menus of funds often are so complex that employees investing in them incur administrative, record-keeping and adviser fees. The 401(k) was “invented by accident,” as a Morningstar report says. Then it morphed into a savings plan when companies decided to get out of the pension business.

  • It’s Time for Your 401(k)’s Annual Physical The Wall Street Journal - Mon, Nov 7, 2016 4:14 PM NZDT
    It’s Time for Your 401(k)’s Annual Physical

    Have you looked at your 401(k) lately? Many are convinced the best thing to do with a retirement plan is not to fiddle with it. “Check it annually,” says Kimberly Foss, founder of Empyrion Wealth Management Inc. in Roseville, Calif., and New York.

  • How to Navigate and Prep for a Surprise Early Retirement The Wall Street Journal - Sat, Nov 5, 2016 6:34 AM NZDT
    How to Navigate and Prep for a Surprise Early Retirement

    Proper planning and maneuvering can help you secure your wealth and health in the event of sudden job loss

  • The Big Winners and Losers in America’s Social Security System The Wall Street Journal - Fri, Oct 28, 2016 10:30 PM NZDT
    The Big Winners and Losers in America’s Social Security System

    What will you receive in Social Security benefits compared with the taxes you pay in? By one estimate, the turning point is currently around $65,000 for a single worker and double that for couples earning similar pay. This question has come up since the Social Security Administration last week announced a payroll-tax increase affecting 12 million higher-income workers.

  • IRA and 401(k) Contribution Limits to Remain the Same in 2017 Money - Fri, Oct 28, 2016 6:48 AM NZDT
    IRA and 401(k) Contribution Limits to Remain the Same in 2017

    It's $5,500 for IRAs and $18,000 for 401(k) for workers younger than 50.

  • The Biggest Money Mistakes We Make—Decade by Decade The Wall Street Journal - Mon, Oct 24, 2016 5:50 PM NZDT

    Meanwhile, these days more people are waiting until their 30s to take big plunges like marriage and children. In their 40s, people often fail to pay down a mortgage quickly enough, leaving them covering the costs into retirement. Finally, in our retirement years, we often don’t make an uncomfortable but necessary move—giving family members the power to make big financial decisions for us—even though research shows most of us need that help a lot sooner than we realize.

  • What Happens When There’s a Mistake in Your 401(k) The Wall Street Journal - Mon, Oct 24, 2016 3:10 PM NZDT

    Are you keeping a close eye on your 401(k) and other retirement plans? You should, because employers and plan managers make mistakes—and that can lead to big headaches and out-of-pocket costs for you. Just ask Benjamin Levy, a retired information-technology professional whose former employer erroneously deposited in his 401(k) a portion of a bonus that he received after he retired.

  • You Made a Mistake on Your Tax Return. Should You Amend It? The Wall Street Journal - Mon, Oct 24, 2016 3:08 PM NZDT

    Broadway’s brightest star, Alexander Hamilton, summarized the problem neatly. “In common life, to retract an error even in the beginning is no easy task,” Mr. Hamilton once wrote, according to Ron Chernow’s biography of the nation’s first Treasury secretary. While Mr. Hamilton wasn’t writing about income-tax bloopers, his words undoubtedly will resonate with millions of modern-day taxpayers.

  • Is it possible to retire in your 30s or 40s? Bankrate.com - Tue, Oct 18, 2016 11:00 PM NZDT
    Is it possible to retire in your 30s or 40s?

    Retiring super early can be a downright dangerous idea, says Mike Lynch, vice president of strategic markets at Hartford Funds. "If you stop funding your retirement and start using it 30 years ahead of schedule," says Lynch, "it is therefore unlikely that you will receive Social Security benefits.

  • When the 4% Rule Fails Morningstar - Tue, Oct 18, 2016 6:00 PM NZDT

    The future could be a lot less happy than the past.

  • 7 Things You Can Do With a My Social Security Account U.S.News & World Report - Tue, Oct 18, 2016 3:10 AM NZDT
    7 Things You Can Do With a My Social Security Account

    A my Social Security account allows you to review your contributions to the Social Security program. You can also get a personalized estimate of how much you will receive if you claim Social Security at various ages. Periodically reviewing your Social Security statement allows you to make sure your earnings are recorded correctly and to factor the likely payout into your retirement plans.

  • What Your Family Needs to Know About Your IRA Distributions Credit.com - Tue, Oct 18, 2016 1:30 AM NZDT
    What Your Family Needs to Know About Your IRA Distributions

    Here's what your family needs to know about your IRA distribution, should you pass away. 

  • Retiring next year? 8 money moves to make now Bankrate.com - Mon, Oct 17, 2016 11:00 PM NZDT
    Retiring next year? 8 money moves to make now

    As life transitions go, retirement ranks way up there among the most challenging, both financially and emotionally. After a lifetime of work, you may have mixed emotions about retirement -- looking forward to not working but nervous about leaving your work identity behind. Because retirement can be so stressful, Jeff Vollmer, a financial adviser with Hyde Park Wealth Management in Cincinnati, advises clients to begin planning 5 years in advance.

  • When It Comes to Retirement Distributions, 401(k)s Lack Valuable Flexibility Morningstar - Mon, Oct 17, 2016 6:00 PM NZDT
    When It Comes to Retirement Distributions, 401(k)s Lack Valuable Flexibility

    'Pro rata' rules mean that taking installment payments from a 401(k) could lead to suboptimal results.

  • Timeshares: Fabulous Opportunity or Financial Trap? Money Talks News - Sat, Oct 15, 2016 6:23 PM NZDT

    Before you get too carried away, watch the video below from Money Talks News finance expert Stacy Johnson. The resale market for timeshares is horrendous, with TUG estimating the average resale price being about 30-50 percent of the original cost.

  • 10 Most Tax-Friendly States for Retirees 2016 Kiplinger - Fri, Oct 14, 2016 3:11 AM NZDT
    10 Most Tax-Friendly States for Retirees 2016

    iStock Retirees have special concerns when evaluating state tax policies. For instance, the mortgage might be paid off, but how bad are the property taxes - and how generous are the property tax breaks ...

  • Retirees, It's Okay to Spend Kiplinger - Thu, Oct 13, 2016 4:16 AM NZDT
    Retirees, It's Okay to Spend

    Most retirees of moderate means, as well as those who are affluent, don't even spend all of their income, much less draw down the principal in their nest egg.

  • 7 Tips to Live Well on Social Security Alone U.S.News & World Report - Thu, Oct 13, 2016 12:00 AM NZDT
    7 Tips to Live Well on Social Security Alone

    If Social Security is going to be your only or a major source of retirement income, it's particularly important to maximize your monthly payments. Here's how to make sure your Social Security payments will cover your retirement expenses. Housing is likely to be one of your largest expenses in retirement.

  • 10 Places to Retire on a Social Security Budget U.S.News & World Report - Thu, Oct 13, 2016 12:00 AM NZDT
    10 Places to Retire on a Social Security Budget

    The average monthly Social Security payment was $1,341 in January 2016. The analysis also factored in crime rates, access to health care and recreation opportunities. Consider these places where two Social Security checks are likely to pay for basic retirement costs.

  • 3 Ways to Get the Most Out of a Longer, Healthier Retirement Money - Wed, Oct 12, 2016 11:00 PM NZDT
    3 Ways to Get the Most Out of a Longer, Healthier Retirement

    Think about your money and your lifestyle.

  • New IRA rules close loopholes for account owners Bankrate.com - Thu, Oct 6, 2016 11:00 PM NZDT
    New IRA rules close loopholes for account owners

    IRA owners beware: Two recent rules on retirement accounts could throw your planning into disarray. One rule came out of tax court: IRA owners are limited to one 60-day rollover between IRAs in a 12-month period across all of their IRA accounts. The Supreme Court handed down the second rule.

  • Spooked About a Low-Return Environment? Don't Make These Mistakes Morningstar - Thu, Oct 6, 2016 6:00 PM NZDT

    Low return forecasts aren't a reason to skip investing, but they do have an impact on saving and withdrawal rates and asset allocation.

  • What Retirement Savings Rate Should Millennials Shoot For? Money - Wed, Oct 5, 2016 11:00 PM NZDT
    What Retirement Savings Rate Should Millennials Shoot For?

    Is it really 22% of pay?

  • This couple retired at 31 to travel around the world feed_manager_auto_publish_494--autopubtest_WPTUMBLR_485 - Wed, Oct 5, 2016 5:06 AM NZDT
    This couple retired at 31 to travel around the world

    It sounds impossible, but it’s a reality for Kristy Shen and Bryce Leung, a Canadian couple who retired at 31 and are traveling around the world. Shen and Leung, now 33, both worked as computer engineers making about $60,000-$70,000 annually. There were a lot of games,” Shen told Yahoo Finance.

  • It’s Never Been More Expensive to Use an ATM Money - Wed, Oct 5, 2016 3:00 AM NZDT
    It’s Never Been More Expensive to Use an ATM

    Fees hit record high for 10th consecutive year.

  • Why Your 2017 Medicare Premiums Could Jump 20% Money - Tue, Oct 4, 2016 11:00 PM NZDT
    Why Your 2017 Medicare Premiums Could Jump 20%

    People delaying Social Security, watch out.

  • 11 Tips for the Sandwich Generation: Paying for College and Retirement U.S.News & World Report - Tue, Oct 4, 2016 5:17 AM NZDT
    11 Tips for the Sandwich Generation: Paying for College and Retirement

    If you're part of the sandwich generation, you're taking care of your child and have an aging parent. If one or both need financial support, it can be pretty tough to save for your retirement. The dilemma is quite common, since nearly half (47 percent) of adults in their 40s and 50s have a parent age 65 or older living in their home and are either raising a young child or financially supporting a grown child (age 18 or older), according to the Pew Research Center.

  • 6 Big-League Mistakes of the Newly Retired U.S.News & World Report - Sat, Oct 1, 2016 5:54 AM NZDT
    6 Big-League Mistakes of the Newly Retired

    For about two years now, a class-action lawsuit has been ongoing in court, with minor league baseball players trying to get back pay based on federal and state minimum wage and overtime laws. Casto points out that a number of things might happen in your life.

  • A Retirement Crisis? There Are Actually Three, Says Vanguard Founder Jack Bogle Money - Fri, Sep 30, 2016 11:30 PM NZDT
    A Retirement Crisis? There Are Actually Three, Says Vanguard Founder Jack Bogle

    The man doesn't pull punches.

  • Are You Being Realistic About Your Retirement Prospects? Do This Reality Check Money - Thu, Sep 29, 2016 11:30 PM NZDT
    Are You Being Realistic About Your Retirement Prospects? Do This Reality Check

    Nearly 60% of those polled for TIAA’s recently released 2016 Lifetime Income Survey said they’re confident they’ll be able to turn their savings into income that can support them in retirement. Unfortunately, fewer than half of the people surveyed know how much they have in those accounts or have tried to assess how much retirement income their savings can actually generate. Here are three key questions you should ask yourself to ensure your planning reflects a realistic assessment of your retirement prospects.

  • Is it possible to retire in your 30s or 40s? Bankrate.com - Wed, Sep 28, 2016 11:00 PM NZDT
    Is it possible to retire in your 30s or 40s?

    Retiring super early can be a downright dangerous idea, says Mike Lynch, vice president of strategic markets at Hartford Funds. "If you stop funding your retirement and start using it 30 years ahead of schedule," says Lynch, "it is therefore unlikely that you will receive Social Security benefits.

  • How to Save for Retirement on Less Than $40,000 Per Year U.S.News & World Report - Tue, Sep 27, 2016 3:30 AM NZDT

    Saving for retirement is especially difficult when you earn a small salary. Here's how to begin building wealth for retirement when you have a modest income. Find out how much you need to save to get the maximum possible 401(k) match, and then make every effort to deposit that amount in your retirement account.

  • Pros and Cons of Income-Generating Strategies in Retirement Morningstar - Wed, Sep 21, 2016 5:00 PM NZST

    Living off of current yields is just one way to extract the cash flow you need.

  • 7 Retirement-Portfolio Withdrawal Mistakes to Avoid Morningstar - Wed, Sep 21, 2016 5:00 PM NZST

    Asset allocation, time horizons, and taxes can complicate withdrawal-rate planning.

  • 7 Steps to Estimating Your In-Retirement Cash-Flow Needs Morningstar - Wed, Sep 21, 2016 5:00 PM NZST
    7 Steps to Estimating Your In-Retirement Cash-Flow Needs

    Note: This article is part of Morningstar’s September 2016 Retirement Matters Week special report. While retirees are often counseled to estimate that they’ll spend 75% to 80% of their working incomes in retirement, a paper by Morningstar’s head of retirement research, David Blanchett, demonstrated that there can be huge variations in income-replacement rates among retirees–with factors such as pre-retirement income and savings rates serving as key swing factors. Based on Blanchett’s findings, higher-income, higher-saving households may well need just 60% (or even less) of their pre-retirement income during retirement, while lower-earning, lower-saving households may need closer to 90%.

  • Don't Fall for These Common Social Security Myths Kiplinger - Wed, Sep 21, 2016 6:32 AM NZST
    Don't Fall for These Common Social Security Myths

    The complexity of the system, its evolution and a shift in demographics that threatens its solvency have created confusion over what Social Security can and will deliver . Social Security benefits are primarily based on two variables: your highest earnings over 35 years and your age when you file for benefits. The maximum benefit for someone retiring at full retirement age (66 for people born in 1943 through 1954) in 2016 is $2,639 a month.

  • 19 Moves That Will Help You Retire Early and in Style Money Talks News - Mon, Sep 19, 2016 9:14 PM NZST

    For many people, retirement — never mind early retirement — seems out of reach. Social Security alone isn’t enough to have you living the good life during your golden years, and as we’ll discuss later, you’ll want to put off taking that money as long as you can. Once your rainy-day fund is full, put that 10 percent you’re not spending into a dedicated retirement fund.

  • The Bucket Approach to Retirement Allocation Morningstar - Mon, Sep 19, 2016 5:00 PM NZST
    The Bucket Approach to Retirement Allocation

    The average interest rate on a six-month certificate of deposit was 9.1% in 1970 and 13.4% in 1980. But two decades worth of declining interest rates have dragged yields way down, dramatically compounding the challenge for retirees. The bucket approach to retirement-portfolio management, pioneered by financial-planning guru Harold Evensky, aims to meet those challenges, effectively helping retirees create a paycheck from their investment assets.

  • Are You Social Security Savvy? U.S.News & World Report - Sat, Sep 17, 2016 6:45 AM NZST
    Are You Social Security Savvy?

    There is no denying Social Security is complex. Find out if you are Social Security savvy by seeing if you can answer these questions correctly. Seniors applying at 62 get money sooner, but receive 25 percent smaller payments than they would receive at full retirement age.

  • Ask Stacy: Can I Make Money Flipping Houses? Money Talks News - Sat, Sep 17, 2016 5:41 AM NZST

    While Robert doesn’t say where his interest in flipping houses comes from, I hope it’s not from one of the many reality shows on the subject. Can you make money flipping houses? You can make big money in real estate.

  • 5 Medicare Tips for New Retirees Money - Fri, Sep 16, 2016 10:00 PM NZST
    5 Medicare Tips for New Retirees

    Switching from employer health coverage can be tricky.

  • The Right—and Wrong—Investing Risks in Retirement Money - Thu, Sep 15, 2016 10:00 PM NZST
    The Right—and Wrong—Investing Risks in Retirement

    Retirees can hobble their portfolios by reaching for extra income. Here's a better strategy.

  • How to Save For Retirement While Paying for a Child's College U.S.News & World Report - Thu, Sep 15, 2016 1:41 AM NZST

    The typical investor has two long-term goals: retirement and kids' college expenses. "Retirement savings needs to outweigh college savings," says David Hryck, a tax attorney and personal finance expert with the Reed Smith law firm in New York. "The biggest issue is the fact that you can borrow for college, whereas you can't borrow for retirement," says Oscar Vives Ortiz, a planner with First Home Investment Services in Tampa Bay/St. Petersburg.

  • How to Get the Most From Your 401K Credit.com - Thu, Sep 15, 2016 1:00 AM NZST
    How to Get the Most From Your 401K

    Here are some steps that can help you build and maximize your 401K.

  • How to Prevent Forced Retirement From Ruining Your Golden Years Money - Wed, Sep 14, 2016 10:00 PM NZST
    How to Prevent Forced Retirement From Ruining Your Golden Years

    Involuntary retirement—or the possibility that you may be forced to exit the workforce sooner than you wanted—is a more common problem than you may think, and one that can wreak significant havoc with your post-career lifestyle. Some 46% of retirees polled for the Employee Benefit Research Institute’s 2016 Retirement Confidence Survey said they left their jobs before they had planned, usually because of a health issue or company downsizing or restructuring. One practical and effective way to minimize the effect of having to retire prematurely is to make a concerted effort to boost the size of your nest egg while you’re still working.

  • Why Your Personal Savings Rate Matters Money - Wed, Sep 14, 2016 8:28 AM NZST
    Why Your Personal Savings Rate Matters

    Plus: 6 ways to make it higher.

  • How to Double Your Nest Egg for Retirement Money - Wed, Sep 14, 2016 4:42 AM NZST
    How to Double Your Nest Egg for Retirement

    Consistent users of 401(k)s amass twice the wealth of others, a study suggests.

  • A One-Stop In-Retirement Portfolio-Maintenance Regimen Morningstar - Mon, Sep 12, 2016 5:00 PM NZST

    The following six steps tie together portfolio maintenance and rebalancing, RMDs, and more.

  • 3 Questions That Can Help You Get the Most From Your 401(k) Money - Fri, Sep 9, 2016 10:00 PM NZST
    3 Questions That Can Help You Get the Most From Your 401(k)

    Give your workplace plan a little attention for National 401(k) Day.

  • When Should You Take Social Security? Kiplinger - Fri, Sep 9, 2016 6:39 AM NZST
    When Should You Take Social Security?

    As a financial professional, I get a lot of questions. Deciding the right age to take your Social Security benefits can be tricky. Although conventional wisdom says to delay taking your benefits for as long as possible, according to the Center for Retirement Research, nearly 40% of retirees file for Social Security as soon as they turn 62, the earliest age at which the Social Security Administration (SSA) allows you to claim your benefits.

  • 4 Numbers That Help You Plan for a Secure Retirement Money - Wed, Aug 31, 2016 10:30 PM NZST
    4 Numbers That Help You Plan for a Secure Retirement

    Two-thirds of 401(k) participants polled for a recent J.P. Morgan Asset Management report said they could better plan for retirement if their employers helped them “understand their numbers”—that is, get a handle on such specifics as how much they should be saving and how much money they should have in retirement accounts to ensure a secure post-career life. Here are four key numbers that can make retirement planning less daunting and at the very least get you going in the right direction until you come up with a more customized plan. Indeed, this report from the Boston College Center for Retirement Research estimates that’s how much the typical U.S. household should save each year in order to maintain its pre-retirement living standard in retirement.

  • IRS Eases a Costly Tax Pitfall for Retirement Savers Money - Thu, Aug 25, 2016 9:00 AM NZST
    IRS Eases a Costly Tax Pitfall for Retirement Savers

    Savers can now explain why they missed a 60-day window on IRA rollovers, instead of facing a tax bill.

  • Retirement-Planning Assumptions: Yes, You Can Be Too Conservative Morningstar - Mon, Aug 22, 2016 5:00 PM NZST

    The risks of oversaving and underspending are real, too.

  • Where's the Best Place to Park Your Cash? Morningstar - Mon, Aug 15, 2016 5:00 PM NZST
    Where's the Best Place to Park Your Cash?

    While nearly all of the major cash and cashlike instruments have done a good job of protecting investors’ capital over time, investors seeking an ironclad guarantee of principal preservation will want to focus on FDIC-insured investments. Building on 2010 rules passed in the wake of a large money market fund breaking the buck–or letting its net asset value drop below $1–during the financial crisis, the money market fund rules going into effect this year specifically aim to address the risk of heavy investor redemptions from a portfolio with constrained liquidity. Specifically, the rules require certain types of money market funds to use a “floating” net asset value, as well as to impose fees or install “gates” to stem outflows in periods of constrained liquidity.

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