Reuters Money

5 ways to make 401(k) plans more like pensions

May 6, 2011

It may feel as though 401(k)s have been around forever, but they’ve only been with us since the 1980s (okay, maybe that is forever). Until the 401(k) came along, if you had a workplace retirement plan it came in the form of a traditional defined benefit pension.

Tax season is over (phew). Now what?

April 28, 2011

Tax season is over, are you prepared for next year — and beyond?

I know, the last thing you want to think about now is taxes. Taxes, taxes, taxes, it’s really tiresome. But the truth is that tax planning in advance can save you more than any last-minute maneuvers. And some people are already beginning to think ahead to the uncertainty of tax rates after 2012.

Why don’t blacks save more?

April 12, 2011

A sales clerk at the Best Buy electronics store counts money for a purchase in Westbury, New York November 27, 2009.    REUTERS/Shannon Stapleton   Yet another survey confirms what we already know: Blacks don’t save as much as their white counterparts.

Retirement: How to roll a 401(k) to Roth IRA

April 5, 2011

A woman looks over paperwork REUTERS/Jill Kitchener

I would like to know the best way to roll a 401(k) over to a Roth IRA and the tax consequences–Reuters Prism Money blog post

Retirement: 3 problems with automated 401(k)s

March 30, 2011

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick WilkingAutomation of workplace retirement plans has spread rapidly in recent years. But don’t make the mistake of taking your foot completely off the gas pedal if your employer has installed retirement cruise control.

Deficit, unemployment top investor concerns: poll

March 2, 2011

A man looks at a list of employers at the 2009 CUNY Big Apple Job Fair at the Jacob K. Javits Convention Center in New York March 20, 2009.  REUTERS/Shannon Stapleton The staggering budget deficit and troublesome unemployment rate are the top concerns for both investors approaching retirement and those already basking in their twilight years, according to a new Wells Fargo/Gallup poll.

Americans staying in workforce longer: study

February 28, 2011

Executive assistant Mario Rebellato, 68, works on a spreadsheet as he works at his desk at Pimlico Plumbers in London July 29, 2010.  REUTERS/Suzanne Plunkett So much for early retirement. Cash-strapped Americans aged 55 and older are staying in the workforce longer and even returning to work because of inadequate Social Security benefits and lagging retirement plans, a study by the Employee Benefit Research Institute finds.

Retirement: Playing a frantic game of catch-up

February 22, 2011

Janet Patterson is pictured in this undated handout photo. REUTERS/HandoutJanet Patterson has faced a lot in her life. Divorce, alcoholism, depression. Each time the 59-year-old Californian has come back from the precipice, and she’s now an accomplished nurse who specializes in pediatrics and critical care.

Social Security: It’s not the end of the world

February 16, 2011

Florida retirees are pictured in this undated photo. REUTERS/Jill Kitchener. Call it a bad omen that the Social Security doom-and-gloom was largely left untouched in President Barack Obama’s 2012 budget. The pension program not only took a hit during the economic downturn, but there are plenty red flags about its long-term viability.

Don’t lose retirement money with a rollover mistake

February 3, 2011

California state worker Curtis Walker looks over retirement plan brochures at the Calpers regional office in Sacramento, California October 21, 2009.  REUTERS/Max Whittaker  Elizabeth Kinkel, a 27-year-old architect in Washington, D.C., let her 401(k) with her former company languish after she was laid off in 2009. “I forgot about it,” she says. By the time she pulled her money out of the 401(k) and reinvested it in a Roth IRA, her $6,000 had lost about $1,500 in value.