Free Resources for Managing Your 401(k)

Need help with retirement? The do-it-yourself investor can find plenty of online resources to help with retirement and other types of financial planning. Fidelity Investments in Boston offers a variety of tools, including some to help you devise a plan to pay off debt or decide whether to convert to a Roth IRA. Baltimore-based T. Rowe Price’s Retirement Income Calculator can project how much you will need in retirement vs. how much you will have, while Valley Forge, Pa.-based Vanguard’s Retirement …

Honey, I Took Social Security Too Early

Deciding when to take Social Security is one of the most important retirement planning decisions people make – and many retirees say they got it wrong. As many as 38 percent of 573 retirees surveyed by the Nationwide Financial Retirement Institute, a unit of Nationwide Mutual Insurance, say they regret taking their benefit early, which locked in their lower monthly payment for life, and wish they had waited. When you look at the differences in their monthly payout, you can understand their remorse. Those …

Is It More Stressful to Care for a Spouse or a Parent?

By Lauran Neergaard and Jennifer Agiesta of the Associated Press WASHINGTON (AP) – More Americans may wind up helping Mom as she gets older, but a new poll shows the most stressful kind of caregiving is for a frail spouse. The population is rapidly aging, but people aren’t doing much to get ready – even though government figures show nearly 7 in 10 Americans will need long-term care at some point after they reach age 65. >> Connect with other …

Estate Benefits of Roth IRAs Curtailed in Obama Budget

Buried 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

I 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

When 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 …