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Retirement resolutions for the New Year

09.01.09

Question: I've lost money in my 401(k) and I'm not interested in losing any more. So I'm thinking of moving my money into more secure investments. I know I can always change my allocations later, but what's the best way to keep my 401(k) stable until this roller coaster ride is over? --Michelle, Moravian Falls, North Carolina

One of the few safe market havens this year has been an old standby -- good old municipal bonds. But their solid performance might just be the result of overzealous retail investors. The economy is in shambles, and the stock market is in the tank. If you're entering the waning years of your career - or if you've already retired - that's more than enough to suck the joy out of retirement. If you let it. Question: I always heard that you will need 80% or so of your working salary to live on in retirement. But is that a percentage of your gross income or your take-home pay? --Mary Taylor, Chalfont, Pennsylvania



A market dip in the years before retirement can be scary, but bailing out of stocks isn't the answer. Here's how to make sure you're still on track. Every time a doctor orders an extra test for you, it pushes up your medical costs and -- some experts say -- contributes to the waste in the nation's $2.2 trillion in health care spending. After months of declines, municipal bonds look too cheap to pass up, and signs suggest the market may be ready to rebound.

Is a spendthrift woman taking advantage of a widower? Money's ethicists weigh in.

You've probably heard that the restriction barring those earning more than $100,000 from converting a traditional IRA to a Roth will soon be history. This means that as of January, anyone with an IRA can create tax-free income in retirement. Question: . My wife and I know we should have an emergency savings fund, but with one income we have nothing left to save after paying expenses.

Question: I'm 34 and have yet to begin saving for retirement. I'm considering participating in my company's 401(k) plan, but I'm unsure whether to do so since my employer doesn't match my contribution. What do you advise? --Nikia, New York, New York Summertime, and the living is supposed to be easy. The fish are jumping -- or maybe it's the kids at the pool -- and yard work is the last thing on your mind. But the lawn has brown spots, monochrome greenery has replaced those May flowers, and weeds have overrun the mulch beds. Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.



Question: My 21-year-old daughter makes $80,000 a year working at a large firm. She has very low expenses, so I'd like to see her sock away a huge amount of money. I told her that if you get used to spending a lot each month on "fun" stuff, it will be much harder to save down the road. I'd also like to see her bypass the high-end investment firms in favor of less expensive alternatives. What do you suggest? --Tom F., Chatham, Illinois If you knew coworkers, former bosses or exes who cheated on their taxes, would you turn them in? The Internal Revenue Service can make it worth your while. More people say they just don't have the money to retire these days.

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