Retirement Reform Blog

Earlier this year, the NCPA released a Brief Analysis on the 2010 tax law change that allows individuals of any income level to convert a traditional IRA to a Roth IRA.  For most people, the benefits outweigh the costs.  But a New York Times article released today gives some important  tips on how to convert.  If you are considering a Roth conversion, but are not  into following up and paying attention to detail, you may find yourself unintentionally paying the tax bill out of the Roth IRA, as well as a 10 percent penalty.   Most Roth mistakes can be fixed within 60 days of conversion, says the Times.   But procrastinators beware!

 "The question isn't at what age I want to retire, it's at what income."  ~George Foreman
 

I came across an informative article in Monday's Dallas Morning News, "Retirement Readiness."  (This article is also available in the New York Times). Two financial advisors in North Carolina put their pre-retiree clients through a "boot camp" designed to prepare them for what it will feel like when they retire. It helps people determine if they will truly be ready to retire at the age they plan to do so.  It got me to thinking about what retirement is really all about. 

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Fresh from the Employee Benefit Research Institute, a new survey found that many people plan on postponing retirement and working longer than they originally anticipated.  The reasons?  A bear market, economic worries, and less confidence in how much they have saved for retirement.

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