Roth IRA: Don’t forget to open or make a deposit to a Roth IRA account before the April 17 deadline. if you are looking for tax-free growth, then it’s hard to beat the Roth IRA. Kiplinger’s Erin Burt tells us more about Roth IRAs.

The 5 biggest Financial Retirement Mistakes: Alan Haft, a well-known Certified Senior Advisor, offers 5 retirement mistakes including underestimating life expectancy, thinking it’s too late to start planning, miscalculating savings needs, not taking into account inflation, and putting other financial goals first.

Making Money during your Retirement Years: Jim Green, author of Your Retirement Masterplan, talks about “turning retirement into a profitable pursuit in the third age years” in his blog Retirement Matters.

What’s New on the Retirement Planning Web: March 22, 2006

(MoneyWatch) Earlier this year, I wrote about a survey that revealed that many Americans have views about retirement that are disconnected from reality — what I called “retirement schizophrenia.” the 2012 Retirement Confidence Survey, recently released by the Employee Benefit Research Institute (EBRI), provides even more evidence that many Americans have wishful thinking about retirement planning. Let’s take a look.

Will you really be able to work in your retirement years?

Almost one-quarter, or 22 percent, of workers in the EBRI survey report that during the past year, they increased the age at which they plan to retire. more than one-third (37 percent) say they’re planning to work beyond age 65. And 70 percent of workers plan to work for pay during their retirement years.

Yet these expectations aren’t consistent with the experience of actual retirees. the EBRI survey reports that just 18 percent of retirees said they retired after age 65, and the median, or midpoint, actual retirement age reported by current retirees has remained constant at age 62 for the past several years of the EBRI survey. half of current retirees say they left the workforce unexpectedly due to health problems, disability, or changes at their employer, such as downsizing or closure. Only 27 percent of current retirees report that they worked for pay during retirement.

Do you have a case of retirement schizophrenia
Top tips for using retirement calculators
Retirement planning: How to do it right
The 10 best places to retire

The bottom line: Don’t count on work you do during your retirement years to bail you out from not saving enough for a comfortable retirement.

Will you really get a pension?

More than half of all workers (56 percent) expect that they or their spouse will receive a retirement income from a traditional defined benefit pension plan. however, just one-third of workers report that they or their spouse currently have such a benefit with a current or previous employer.

Employers have abandoned these traditional pension plans like the plague, so it’s extremely unlikely that you’ll earn a pension if you aren’t already one of the lucky few people who work at a company that still sponsors one.

The bottom line: Realistically assess your employer’s retirement programs. Don’t count on something that you don’t have already. you most likely won’t get it.

What do you expect from Social Security?

Sixty-nine percent of retirees report that Social Security provides a major source of their retirement income. Yet most workers are expecting reductions in Social Security benefits. Only six percent of current workers expect the same level of Social Security benefits delivered to current retirees, while 21 percent of workers don’t expect to receive anything from Social Security.

This last result is just too pessimistic. Social Security is one of the most popular government programs and I believe we’ll have Social Security as long as we have democracy. Given the current financing issues, however, it’s inevitable that we’ll see some reductions in future Social Security benefits, particularly for workers under age 55.

You’d think that if workers anticipated receiving reduced Social Security benefits, they’d save more for retirement to make up for the benefits they’re expecting to lose. Yet the EBRI survey shows that the percentage of workers currently saving for retirement has declined recently. Indeed, only two-thirds of workers report that they’re currently setting aside funds for retirement.

The bottom line: If you really think you’ll be getting less from Social Security, you need a backup plan. the good news is that if you’re over age 55, you’ll most likely receive the current level of benefits.

Failing to plan is planning to fail

Just 42 percent of workers report that they’ve tried to calculate how much money they need to retire, while an equal percentage say that they’ve guessed at the amount they need to save. And the amounts that workers report as needed for a comfortable retirement are way too low.

The bottom line: Guessing how much to save for retirement isn’t going to work. there are many retirement planning materials easily accessible and available for free, including several good online retirement calculators. There’s a strong chance that you can access a calculator through your 401(k) plan at work. you can also work with an experienced financial planner who can help you decide exactly how much to save for the retirement you want.

Replace your wishful thinking with solid action steps, and you’ll prevent your “golden” retirement years from rusting out.

<a href="http://www.cbsnews.com/8301-500395_162-57410242/are-your-retirement-goals-divorced-from-reality/tag:news.google.com,2005:cluster=http://www.cbsnews.com/8301-500395_162-57410242/are-your-retirement-goals-divorced-from-reality/Fri, 20 Apr 2012 11:31:07 GMT”>Are your retirement goals divorced from reality?

Welcome to the Moneysmartz Retirement Planning Blog!

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Our goal is to help eliminate your confusion and provide clarity so you can make better retirement planning decisions. We’ll connect you to the most reliable and relevant sources of retirement planning news, information, and resources so you can pursue a secure and abundant retirement.

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Welcome to the Retirement Planning Blog

For most people, a mortgage is their biggest monthly bill.? Although few realize it at first, their mortgage also represents one of their biggest savings each month. Since a part – a growing part – of every mortgage payment represents the repayment of principal, part of that big monthly bill is actually savings.? at the end of the typical 30-year mortgage, you’ll own your home free and clear.? Depending on what happens to the value of your home over that time, you might find yourself with quite an asset.

While a mortgage is certainly no substitute for a 401(k) or IRA, it’s certainly better than that other big monthly bill – the credit card.

Is your mortgage part of your retirement plan?

Is Paying your Mortgage like Saving for Retirement? originally appeared on About.com Retirement Planning on Monday, August 22nd, 2011 at 13:00:39.

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Is Paying Your Mortgage Like Saving for Retirement?

When you’re in your 50’s, start paying down your non-deductible debt such as credit cards and auto loans. try to be debt free, perhaps with your mortgage being the only exception, by the time you retire. if you can pay off your mortgage too, more power to you. this can free up a lot of cash flow and keep your expenses low in retirement.

National Retirement Planning Month Tip #84: Debt-Free Retirement Living

With the debt deal behind us, it’s time to pick up the pieces and ask the question: “What happened?”  As it turns out, very little was accomplished, at least as it pertains to the specifics of future changes.  While most of the hard work has been delayed a short while, certain decisions were made. one clear line in the sand was the carving out of Social Security from any automatic reduction in spending. (The same cannot be said for Medicare).  Still, as I discuss in Should your Retirement planning Change due to the New Debt Deal? you can expect major changes in the near term to Social Security.

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The New Debt Deal and Social Security ? Should Your Retirement Planning Change Due to the New Debt Deal?

As a result of the recent debt deal, everything – even Social Security – will be on the table as a possible way to close the enormous budget gap.

What changes Do You Think are going to be Made to Social Security? originally appeared on About.com Retirement Planning on Thursday, August 25th, 2011 at 13:00:23.

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What Changes Do You Think Are Going to Be Made to Social Security?

Welcome Forbes.com Retirement, the newest website in the Moneysmartz retirement planning directory. Forbes.com Retirement provides the latest retirement and retirement planning news, information, and advice from Forbes.com. Special features include a recent report on Roth 401(k) plans and a 2006 report on Mutual Funds.

Forbes.com Retirement

Read, listen and learn about different investments and strategies. In the end, your financial well-being and having a successful retirement is your personal responsibility.

Retirement Planning Tip #77

Many of your Congressional representatives have been forced to show their true color as a result of the bickering and bartering over the new debt deal.? with that in mind, which political party do you think is doing the right thing for current retirees?? (I’ll ask a very similar question about future retirees in a future poll.)

Which Political Party Has it right for Current Retirees? originally appeared on About.com Retirement Planning on Thursday, August 4th, 2011 at 13:00:59.

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Which Political Party Has it Right for Current Retirees?