The government requires investors to take their Minimum Required Distribution MRD from your retirement accounts each year after you reach 70 1/2.  Call your IRA or employer 401k or 403b and request the calculation.  It's roughly 4% of the account value at year end 2012.  

Most providers can add your bank information and deposit right to your account...simple!

This week the Christian Science Monitor reported that, according to the latest data, there are now more people in the United States receiving means-tested government benefits (Medicaid, food stamps, etc.) than are working full time.

When the people who received non-means-tested government benefits from programs such as Social Security, Medicare, unemployment and non-means-tested veterans compensation are added to those who received means-tested government programs such as food stamps, Supplemental Security Income and public housing, the total number of people receiving government benefits from one or more programs in the United States in 2011 climbs to 151,014,000, according to the Census Bureau.

By contrast, there are 101 million people fully employed.

Six months into his presidency, Barack Obama promised that his proposed health reforms wouldn’t force people who were happy with their insurance to change. “If you like your health-care plan, you’ll be able to keep your health-care plan, period,” he said. But hundreds of thousands of people are finding out otherwise.  Insurance companies are terminating coverage for many people whose insurance doesn’t meet the standards of the new health law. Here’s what you need to know:

Why is this happening?
The Affordable Care Act sets standards that private insurance companies must follow. Health plans must pay for at least 60% of their members’ medical costs on average. They also have to provide 10 areas of coverage, called essential health benefits, such as hospitalization, mental health treatment, and maternity care. Plans that don’t meet these standards generally can’t be sold after 2013, unless they’re grandfathered (more on that below). Insurers are ending these plans and pushing people to buy more comprehensive policies, some of which may also have higher premiums. For low- and middle-income people, the law provides subsidies to make health coverage more affordable.

More Obamacare...Businessweek.com

We've heard about adult children moving back home with Mom & Dad.  Here's another trend...more than 1 million single women 45 and older live with a roommate who isn't a relative.  This trend is likely to continue for baby boomers in retirement.  Many seniors are sharing their home-remember the "Golden Girls?."

Here's a few resources if you're considering sharing your home: 

nationalsharedhousing.org

goldengirlsnetwork.org

goldengirlhomes.us

Of the 9.47 million people who tried to register in the first week, only 271,00 were able to create an account, according to one analysis. That's about 1 in 35. Many people couldn't even create user names and passwords.

Consumer Reports explains how to register for Obamacare.

For the second straight year, millions of Social Security recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January.

Preliminary figures suggest a benefit increase of roughly 1.5%, which would be among the smallest since automatic increases were adopted in 1975, according to an analysis by The Associated Press.

Nearly 58 million retirees, disabled workers, spouses and children get Social Security benefits. The average monthly payment is $1,162. A 1.5% raise would increase the typical monthly payment by about $17.

Stanford Graduate School of Business will launch its first open online course (MOOC) in October, The Finance of Retirement and Pensions, led by finance professor and pension expert Joshua Rauh. The course, which runs for eight weeks starting October 14, 2013, will help participants become more informed decision makers about their own retirement portfolios and about related government programs and policies. Prospective participants may find more information, including a video overview, and register for the course online.

This Stanford class is free!

The insurance "exchanges" set up under the Affordable Care Act, where people can shop online for health insurance, went live on Oct. 1, and an estimated 48 million uninsured Americans can use them to try to find an affordable plan. The 2010 Obamacare law requires that people have health insurance, or that they pay a fee starting next year if they choose to opt out.  

If you don't have health insurance, and aren't sure if you want to purchase a plan, how long do you have to decide?

You can sign up for health coverage on an exchange anytime between now and March 1, 2014. Your coverage would begin Jan. 1, 2014, at the earliest. If you do not enroll in that window, you will not be able to get health coverage through the insurance exchange marketplace until the next annual enrollment period unless there are extenuating circumstances.

How much are the penalties for not buying a health plan?

The penalties are not very high to begin with. In 2014, the fine to remain uninsured is $95 per person (up to a family maximum of $285, or 1 percent of family income, whichever is greater).

But the penalty will increase more than sevenfold in the next two years, with the fine running as much as $695 per person by 2016. The family maximum would be as high as $2,085 (or 2.5 percent of family income, whichever is greater).

What's happening?

Under President Barack Obama's health care overhaul, most Americans will be required to have health insurance starting next year. Online marketplaces will open Tuesday for consumers to shop for coverage plans in their state.

What if I can't afford coverage?

Tax credits are available to some lower-income families and individuals to help cover the costs of monthly premiums. More details can be found at an information website run by the Department of Heath and Human Services (HSS). Lower-income households may also be eligible for free or low-cost coverage under Medicaid.

How much will the exchange plans cost?

It depends. All plans and prices will not be available until Oct 1.

Visit HealthCare.gov for comprehensive information on the Health Insurance Marketplace.

“Everybody has a plan until they get punched in the face.”

Planning is the easy part. When you’re decades away from retirement, it’s easy to sit in front of your computer admiring a pretty spreadsheet full of projections, hypotheticals and assumptions.

US News &World Report considers three factors to consider about retirement income.

The 4 percent guideline. The 4 percent withdrawal rate is more of a guideline than an actual rule. During retirement, having the flexibility to vary the amount withdrawn from retirement accounts has two distinct benefits. First, it allows a retiree to adapt to changing needs. One year may require more or less capital than the next.

Selecting the investments. Deciding how much to take from retirement accounts is just the beginning. You also have to decide which investments to sell. Part of this decision may be driven by your asset allocation plan.

Taxes. Taxes should always be a consideration. Withdrawals from some retirement funds, like a 401(k) or deductible IRA, are taxed as ordinary income. Distributions from a Roth IRA are tax free. And distributions from investments in a taxable account typically trigger a combination of short and long-term capital gains on a portion of the withdrawal.

Each Monday the "Ask Larry" PBS segment features Larry Kotlikoff's important advice for 78 million Baby Boomers.  The Ask Larry series will focus on Social Security issues and questions.

PBS NewsHour