retirement

RECENT POSTS

April 16, 2012 | 11:30 AM | By Meg Cramer

Changing Expectations: How Are You Planning For What Comes Next?

It’s tax time, and today is the last day before the filing deadline. If you spent your weekend filling out your tax forms, you have come face-to-face with your 2011 finances. Now is a time for reflection and reckoning – it’s also a time for planning. What will this year look like for you?

Credit: Flikr user 401k

Over the next two weeks, Changing Gears will be sharing stories about how people are planning ahead in a tough economy, and how their expectations have changed in light of the recession.

You can read some of the stories about changing expectations on our tumblr page: http://chgears.tumblr.com.

You can also tell us about your own experiences. How are you planning for what comes next? Are you coming up on a milestone like retirement, marriage, or a new career? How have your plans changed since the start of the recession? Follow this link to share your story.

FILED UNDER: Communities, Jobs, Your Story, personal finance, Public Insight Network, retirement, taxes, Your Story
April 10, 2012 | 3:22 PM | By Meg Cramer

It’s Tax Season, Let’s Talk About Money And Your Future

Changing Gears is collecting stories about how people are planning ahead in a tough economy, and we’d like your help. What’s on your mind as you plan for what comes next?

Tax forms shelved at a US Post Office. Credit: stevendepolo / Flikr

You can follow this link to share your thoughts.

We want to hear from you – whether you’re planning for retirement, saving for a home, sending kids to college, or just starting a career. If you’re retired, have you had to make some adjustments?

Are things different from what you expected? Tell us what kinds of choices you’re making.

FILED UNDER: Communities, Jobs, Your Story, personal finance, Public Insight Network, retirement, taxes, Your Story
January 10, 2012 | 1:29 PM | By Micki Maynard

Midwest Money Question: What Do I Do With My Retirement Accounts?

Last month, Changing Gears teamed with authors and CNN anchors Ali Velshi and Christine Romans to collect your questions on the personal finance issues that you’re facing because of the recession.

Here’s the next-to-last question in our series of Midwest Money answers from Ali and Christine, based on their new book, How To Speak Money: The Language and Knowledge You Need Now. (Each person whose question is used will receive a copy of the book.)

Chris Borrensen from Sugar Grove, IL asks,

I have two 401(k) accounts and a Roth IRA. The IRA continues on, steadily. The 401(k) accounts are with different brokers, and while my strategy is similar with both, the older one outperforms the one I have through my current job. Is there benefit or more risk in combining these accounts in some way?

Ali and Christine respond,

Chris, we think you should combine those two 401(k) accounts, for simplicity and for better investing. For this question, we turned to Ryan Mack from Optimum Capital Management for a gut-check, since he advises clients every day on issues just like this one.

“Combine the two accounts,” says Mack. “Regardless of performance differences between them, the older account (with your previous employer) is sitting stagnant, dead in the water.” Continue reading →

FILED UNDER: Your Story, 401(k), Midwest Money, retirement, Roth IRA
January 4, 2012 | 11:49 AM | By Micki Maynard

Midwest Money Question: Where Do I Invest Now?

Last month, Changing Gears teamed with authors and CNN anchors Ali Velshi and Christine Romans to collect your questions on the personal finance issues that you’re facing because of the recession.

Today, we’re bringing you the next in our series of Midwest Money answers from Ali and Christine, based on their new book,How To Speak Money: The Language and Knowledge You Need Now. (Each person whose question is used will receive a copy of the book.)

Ishtiaq Bercha, of Aurora, Colorado, writes with a common concern.

“What should I do with my savings? Should I keep cash in the banks, invest in stocks and bonds — or gold? What is the best prospect from a retirement perspective?

Ali and Christine respond,

“The answer, Ishtiaq, is easy. You want to be investing in all of these things! Cash in the bank, stocks, bonds, golds/metals (10 percent of your portfolio or a bit more if you have a higher risk tolerance), real estate and even businesses.

When do you start? And how much? After you pay off credit card debt and build a liquid savings of 6 months of living expenses, then you invest for the long term. Continue reading →

FILED UNDER: Your Story, investing, Midwest Money, retirement
December 12, 2011 | 10:37 AM | By Micki Maynard

Last Chance for Midwest Money Advice: Send Your Questions for Ali Velshi & Christine Romans

Retirement, debt, going back to school, and mortgages are all issues that are magnified by the recession. Where can you get Midwest Money advice?

Here. But you’d better hurry up. Through the end of today, CNN anchors and authors Ali Velshi and Christine Romans are taking Midwest Money questions from the Changing Gears audience.

We’ll be posting their answers next week. If Ali and Christine select your question, you’ll win a copy of their new book, “How To Speak Money.”

Send your questions by the end of today for Ali and Christine, then come back for the answers all next week.

FILED UNDER: Jobs, Your Story, debt, Education, jobs, Midwest Money, retirement
December 5, 2011 | 11:59 AM | By Micki Maynard

Midwest Money: Buyout, Retire, Keep Working? Ask Personal Finance Experts Velshi and Romans

The recession has played havoc with a lot of peoples’ job plans here in the Midwest. Buyouts are tempting, but what lies on the other side? Retirement at age 65 may have been a goal — now, is it too risky to leave? And, how long does it make sense to keep working?

Changing Gears wants to help you get some advice. We’ve asked authors Ali Velshi and Christine Romans to take your questions on retirement, and any other personal finance topic that’s on your mind.

Write in this week. Ali and Christine will answer your Midwest Money questions later this month. And if they pick your question, you’ll get a copy of their new book, How to Speak Money.

 

 

FILED UNDER: Your Story, Midwest Money, retirement