Why a Roth IRA for the baby would be a blessed event

Ray Boshara

When an infant is born, the hospital paperwork for parents includes birth certificate and Social Security number applications. Soon, though, there could be another document to fill out: a Roth IRA account setup form. That’s the thrust of the Roth Account for Youths Savings Act, or RAYS Act,introduced last week in the U.S. House of […]

Social Security spousal benefits: Jill Schlesinger and I sort it out

Jill Schlesinger

Jill Schlesinger invited me to join her today on Jill on Money, her nationally-syndicated radio show, to talk about the ins and outs of spousal and survivor benefits for Social Security. We also talked about health care and retirement, specifically how the Affordable Care Act will affect retirees who haven’t yet reached age 65, when […]

Help wanted: Financial advisers who aren’t about to hang it up


If you’ve ever thought about getting some professional help with your retirement plan, this would be a great time to get going. Financial advisers may be in short supply in the years ahead. A brain drain is about to hit the world of financial planning, according to Cerulli Associates, a financial services consulting firm. Cerulli […]

How 401(k) cash-outs hurt down the road


When you change jobs, do you take the money and run? A disturbingly-large and growing number of young and low-income workers do just that with their 401(k)s – and it’s damaging their chances of building adequate retirement savings down the road. Data released today by Fidelity Investments shows that 35 percent of all participants in […]

The war on elder poverty – however you measure it – is not over


“Without Social Security, nearly half of seniors would be living in poverty,” President Barack Obama said last month, noting the 50th anniversary of the war on poverty. “Today, fewer than one in seven do. Before Medicare, only half of seniors had some form of health insurance. Today, virtually all do.” Is the war on elder […]

MyRA won’t close the nest egg gap, but maybe the states can


If states are the laboratories of democracy, they need to start some retirement savings experiments – quick. About half of Americans haven’t been able to create nest eggs at all, and the labs working the problem in Washington haven’t found solutions. That’s my take on MyRA, the retirement saving program PresidentBarack Obama announced during his […]

Deferred income annuities getting some traction


You’ve probably seen this attention-grabbing advertising message on television or on a billboard: “The First Person To Live To 150 Is Alive Today.” Not surprisingly, the ad comes from an insurance company–Prudential–and the pitch is for annuities. You may find the message optimistic, unsettling, or just plain disturbing–but it does highlight the insurance industry’s core […]

Why more wealthy Americans are putting their eggs in Roth baskets


Affluent Americans are showing a growing preference for paying taxes on their retirement savings sooner rather than later. Data released earlier this month by the Internal Revenue Service shows that conversions from tax-deferred individual retirement accounts to Roth IRAs increased ninefold in 2010, to $64.8 billion. That was the first year when a $100,000 income […]

Resolution: Rethink your retirement spending plan

David Blanchett, head of retirement research, Morningstar

This is the time of year when many of us take stock of our financial plans. New Year’s resolutions are in place, and tax season is just around the corner. But when it comes to retirement planning, the resolutions shouldn’t just revolve around how much you’ll sock away this year. It’s just as important to […]

Thinking of rolling over your 401(k)? Think twice


Regulators are sending a clear warning: Beware the IRA rollover. The Financial Industry Regulatory Authority (FINRA), which self-polices the brokerage industry, issued a regulatory notice late last month warning member firms against overselling clients on shifting retirement dollars from 401(k)s to individual retirement accounts when they retire or change jobs. Likewise, a report last year by […]