Q: My wife and I are both over 60 years old. We each made a $6,000 contribution to Roth IRA on April 1, 2009. We now realized that we are a little over the $176,000 maximum adjusted gross income limit (AGI) for tax year 2009 to qualify us to contribute to a Roth for 2009. [...] [read full article…]
Q: I am 63, and elected to start taking Social Security last year. I am taking a temporary job with the Census Bureau, and expect my earned income this year will exceed [the limit on earned income] of $14,160 by about $2,000. This would ordinarily reduce my Social Security benefit by approximately $1,120. Can I avoid this [...] [read full article…]
The Great Recession will push plenty of baby boomers to work past traditional retirement age, but others will keep working simply because they don’t want to stop–or can’t. My friend Barbara Rose has a great feature story in the ABA Journal examining encore careers for boomer attorneys. She notes that more than one-quarter million lawyers [...] [read full article…]
The new health insurance reform law will help millions of older Americans who have lost health insurance but are too young for Medicare. Insurance issues affect Americans of all ages, but the problems are acute for people over 50, who tend to have more pre-existing conditions than younger people do, and use more health care. [...] [read full article…]
The financial services reform package introduced last week by Senator Chris Dodd (D-Connecticut) drops one of the most important consumer protection measures for retirement investors: a rule requiring that all financial advisers put clients’ interests ahead of all else and avoid conflicts of interest. What-you thought advisers already had to do? Not necessarily. There are [...] [read full article…]
