Create a Plan for a Meaningful Retirement

A retirement plan is not just about money. It is also about figuring out how you want to spend all your newfound free time.
By Susan B. Garland, From Kiplinger's Retirement Report, September 2014
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When it comes to your nest egg, you made all the right decisions, saving enough to turn your retirement dreams into reality. But as the big day approaches, you realize you've forgotten to answer a couple of crucial questions: What exactly are my dreams? How can I make the next 20 or 30 years purposeful?
Some people enter retirement with a full-blown plan. Other new retirees struggle to fill a blank canvas. And as the soul-searching baby boomers march into this stage of life, a cottage industry of retirement and life-transition coaches are helping them explore the nonfinancial, emotional side of retirement.

Three Great College Towns for Retirement

Cities with universities offer quality health care and lifelong learning for retirees. Watch the video.
By Sandra Block  August 21, 2014

Do you want the amenities of a big city without the traffic and high cost of living? Consider retiring to a college town. College towns offer plays, concerts, sports and great food, plus the opportunity to keep your mind engaged through no-cost or low-cost university courses. Plus, you’ll have access to high-quality health care, often through hospitals associated with the university. Most of the college towns on our top 10 list are also located in tax-friendly states and have a low cost of living.

When to Start Making Catch-Up Retirement Contributions

Supercharge your nest egg by upping your savings in the year you turn 50.

By Kimberly Lankford, September 24, 2014

I turn 50 in January. Can I make a catch-up contribution to my IRA for 2014, after my birthday, because I’ll be 50 before the April 15 deadline? Or do I have to wait until 2015 to start catch-up contributions?
That’s a good question. You have to be 50 by December 31 to make a catch-up contribution for 2014, so you will have to wait until 2015 to make your first catch-up contribution. But you can make the contribution as early as January 1, even if it’s before your birthday.

Turning 50? Catch Up on Retirement Savings

You can start contributing more cash to your IRA, 401(k) and other retirement accounts once you reach the milestone.
By Sandra BlockSee September 18, 2014

Are you afraid you haven’t saved enough for retirement? If you’re 50 or older, the tax code gives you lots of incentives to make up for lost time.

Retirement Plans for Self-Employed Workers

I started doing freelance work a few months ago and am wondering if I can contribute to a self-employed retirement account. If so, can I contribute to a Roth IRA at the same time?
Yes to both questions. You can stash money in a retirement-savings plan if you have income from self-employment, even if you have a full-time job, too.
The two best retirement-savings options for most self-employed workers are a solo 401(k) and a Simplified Employee Pension (SEP). You can make tax-deductible contributions to either plan, and the money grows tax-deferred until retirement (you usually have to pay a 10% penalty for withdrawals before age 59½). You may be able to contribute more to the solo 401(k), but it may be easier for you to find a SEP administrator.