planning

Roth IRA Estate Benefits Curtailed in Obama Budget

Posted on 03/6/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsBuried in the details of President Barack Obama’s 2015 budget are tax changes that could upend many people’s estate and retirement planning. The president is proposing significant changes to the Roth IRA, which has become a popular way for higher-income investors to leave money to heirs tax-free. “The Obama team put this out in an effort to simplify tax law when it comes to retirement accounts,” says Matt Curfman, a financial planner with Richmond Brothers Inc. in Jackson, Mich. “Thank …

How to Develop a Caregiving Plan

Posted on 02/19/2014 by |Aging, Home & Family Expert | Comments

CaregivingI first spoke with my parents about their plans for “the future” when Dad retired from his career as a university professor in 1995. Mom had suffered a stroke six years earlier but was still mobile, and Dad was in good health. They had completed advance directives and estate planning. My caregiving plan was to help them stay as independent as possible for as long as possible. I’d visit three or four times a year, monitor their needs and coordinate with my …

Advance Planning for Eldercare Saves Money, A New Study Shows

Posted on 10/31/2013 by |Caregiving | Comments

Bulletin Today | CaregivingWhen it comes to planning for long-term care, the early bird does get the worm, according to a new  study: The report shows that families who anticipate their needs can save close to $11,000 a year in out of pocket expenses by planning in advance instead of waiting until a crisis. >> Sign up for the AARP Money Matters newsletter What’s more, 38 percent of family caregivers and 35 percent of care recipients in the study, commissioned by the insurance company Genworth …

Wacky Retirement-Related Words You Won’t Find in Webster’s

Posted on 08/29/2013 by |AARP Blog Author | Comments

Your LifeThis is a guest post by Jan Cullinane, author of AARP’s The Single Woman’s Guide to Retirement. Retirement is changing, and choice is the new normal. Continue to work? Start a new career? Relocate? Stay? Have adult kids live with you? Women and men approach this transition in different ways, so it’s not surprising that new retirement lingo has blossomed. Here is a baker’s dozen of words/acronyms you won’t find in an ordinary dictionary. Related to Relocation: Fanby (find a …

Saving for Retirement — What’s a Woman to Do?

Posted on 08/14/2013 by |Money and Work | Comments

Bulletin Today | WorkIf we women don’t boost our retirement savings now, we may not be able to meet our daily financial needs when we leave the workplace for good, a new report says. Not only do we contribute less than men to our 401(k) accounts — 6.9 percent of pay, on average, compared with 7.6 percent for men — but we’re also more likely to default on loans we’ve taken from these plans. Fully 71 percent of women who left their jobs …

Retirement Analyses May Send Chills Down Your Back

Posted on 07/17/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsFor those of you who are about to retire, brace yourself.  New research suggests this just may be the worst time in a generation to exit the workforce. Why?  The Employee Benefit Research Institute blames a prolonged period of low-interest rates, plus declining returns on investments, which can be particularly problematic at the start of retirement. So acute is the problem that one in four boomers retiring today — folks who under normal circumstances would have adequate retirement income — now risk running …