Participants in their 50's who have been in the same retirement plan over 6 years have an average balance of $139,932 at the end of 2009 according  to Wall Street Journal statistics.

Minimum Required Distribution (MRD)

If you are over age 70 1/2 it's time to add up your IRA balances, look at older 401k plans or employer plans and do the calculation.   Most IRA custodians will be able to help and even set up systematic withdrawals if  you would like to receive these distributions throughout the year. 

Make sure to call the firm holding these retirement plans and ask them to do the MRD calculation and get the check or electronic funds transfer sent out to you.

RetirementThink MRD Info and Uniform Table for the Calculation

Here's a link to TSP Forms and Publications.

Quantitative Easing...We'll hear a lot about it..finally You Tube Explains.  Take a Break..you have to see this!

This year's enrollment period for 2011 Medicare coverage extends from November 15 to the end of the year. There are lots of changes in the various insurance programs that collectively make up Medicare. Experts say it's well worth the time to make sure your 2011 coverage remains the best deal for you.

There are four "letter" parts of Medicare:

A is for hospital services, and B is for physician, out-patient, and equipment costs. Together, parts A and B make up basic Medicare. Part C is for Medicare Advantage insurance, which includes A and B and, for most plans, prescription drug coverage. Part D is for stand-alone prescription drug coverage.

There also are a dozen Medigap policies that cover, to varying degrees, things that aren't covered in basic Medicare. Some Medicare Advantage and Medigap policies include vision and dental coverage, which is not provided in basic Medicare. If you want to supplement basic Medicare, you would chose either a Medicare Advantage plan or a Medigap policy.

If you're young, old, using a 401k or not...you need a Roth IRA!  It's a great retirement/emergency account.  You'll be able to access the money you contribute to the Roth account at any time.  You can set one up online in about 10 minutes and fund it with an EFT (electronic funds transfer) from  your bank.  Plenty of online brokerage or mutual fund firms let you get started for a few bucks! Go set up a Roth IRA!

Yahoo Finance provides 10 Reasons To Open A Roth IRA:

Easier access to your money before retirement. Roth IRAs give you more flexibility to make withdrawals before you reach retirement. Roth IRA withdrawals before age 59½ result in a 10 percent early withdrawal penalty and regular income tax due only on the portion of the withdrawal that comes from earnings. Like traditional IRAs, penalty-free early withdrawals are also allowed for several reasons, including college costs, health insurance premiums after losing your job, significant unreimbursed medical costs, and certain first-time homeownership costs.

 You Need A Roth IRA!

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Quotes as of Close 11/5/2010



Pittsburgh's pension system is the most underfunded among systems in the state and is likely among the most underfunded in the country, according to municipal analysts.

Pittsburgh would have to pay $2.6 billion to $3.6 billion over the next 30 years to shore up its public pension fund if the city fails to meet a state funding minimum by the end of the year, city council members were told Thursday.

The city's retirement system currently has only 28% of the assets it needs to cover its obligations; if it cannot raise that to 50% by Dec. 31, Pennsylvania law will require the state to take over the retirement system and compel Pittsburgh to make the payments needed to assure pensions for 8,000 active and retired employees.

Reaching the 50% threshold will require about $220 million, equivalent to about half of the city's annual budget. Making the payment from the general fund would result in painful consequences for city residents, such as loss of services or higher taxes.



After November 4th election day -the press will focus on the Fed printing money...also known as QE or "quantitative easing."   I'm not an economist but everyone should get familar with this term and understand how our standard of living is affected.  Our dollar buys a lot less.  Rick Santelli of CNBC shares some insight.

The results of the midterm elections are just hours away, and the Federal Reserve's highly anticipated announcement on its next attempt to boost the U.S. economy -- quantitative easing part 2 -- is on tap Wednesday.  In other words, this is a key time for Wall Street, individual investors and the nation.

To say that the U.S. is deeply in debt isn't likely to spur a long debate -- we owe almost incomprehensible sums, and we now hear discussions involving hundreds of billions of dollars on a regular basis. But is it really too much, and would Federal Reserve Chairman Ben Bernanke ever say we, as a country, have too much debt? Santelli isn't expecting it.

Video: Rick Santelli Lets Create Jobs, Not More IOU's

Democrats are making a pre-election pitch to give Social Security recipients a one-time payment of $250, part of a larger effort to convince senior voters that their party, and not Republicans, will best look out for the 58 million people who get the government retirement and disability benefits.

The $250 check is meant to make up for a second year without a cost-of-living increase due to low inflation.

President Barack Obama has urged Congress to approve the $250 payment. House and Senate Democratic leaders Nancy Pelosi and Harry Reid say they will bring up the legislation when lawmakers return for the lame-duck session in November. In the meantime, Democrats are using the proposal to augment their campaign pitch that Republicans would undermine Social Security.



Time is running out on a one-time tax deal for investors who want to transfer, or "convert," money from a taxable individual retirement account to a Roth IRA.

Thanks to a law that took effect Jan. 1, all taxpayers are now permitted to convert a regular IRA to a Roth. Before then, conversions weren't allowed for those earning more than $100,000. (Roth IRA contributions, in contrast, remain off-limits for individuals with modified adjusted gross income of $120,000 or more and married couples with income of $176,000 or more.)

That means anyone willing to pay the income taxes due upon converting can move retirement savings into a Roth, where the money can grow tax-free.

To make that more palatable, Uncle Sam is offering a special deal that expires on Dec. 31. Those who convert in 2010 can choose to report the income on their 2010 tax returns or they can spread the income equally across their 2011 and 2012 returns.

Courtesy of WSJ.com

Here's a Roth Conversion Calculator



Paris, France (CNN) -- France entered a fifth day of nationwide strikes Saturday as tens of thousands of protesters took to the streets, rallying against a government proposal to raise the national retirement age to 62.

Protesters formed a line stretching two miles long near the historic Bastille Square in Paris, waving banners and shouting insults against the government of President Nicolas Sarkozy, CNN's Jim Bittermann reported.

France's Interior Ministry said some 825,000 protesters turned out nationwide, while labor unions -- who oppose upping the retirement age -- said 3.5 million protesters attended the more than 200 demonstrations across the country Saturday.

Emotions ran high in France as the pension debacle continued to pit the government against French unions. Analysts say pension reform will likely be a defining moment in Sarkozy's presidency.

Despite repeated national strikes over the controversial proposal, France's National Assembly on Wednesday approved Sarkozy's pension reform bill which would raise the national retirement age from 60 to 62.The proposal passed 329 to 233, but still must pass the Senate to become law.

The Senate is expected to vote October 31.