Comments on: Helping Mom Retire, Part 1: Conquering the Stack

By: planner

planner — Mon, 21 Jan 2008 20:13:03 +0000

It sounds like you got a good start on working through the big picture stuff. Hope the rest goes as smoothly as you make that part sound.

I’ll have to check out those sites and tools you listed. I’ve been looking around to see what options are available for tracking finances.

By: elsie

elsie — Sat, 19 Jan 2008 02:50:20 +0000

sasha,

thanks for helping your mother out.

you mention your mother will be eligible to receive her state pension as well as social security.

you may or may not be aware of the social security windfall elimination act or the gov’t pension offset that effects gov & state employees. we can thank ronald reagan for this one. it’s also referred to as ‘double dipping’

most are not aware until the time comes.

i believe there are bills in congress at the moment attempting to change this ruling. be sure to write to your senators and congressmen.

the national educators association website offers a great deal of info on this subject and what action to take.

http://www.ssa.gov/pubs/10007.html

http://www.ssa.gov/pubs/10045.html

as far as mom’s spending habits, let her enjoy herself. life is tooo short and it seems she’s worked hard.

my best to you and your mom.

By: Cory

Cory — Fri, 18 Jan 2008 18:08:44 +0000

What made you decide to use Yodlee instead of Mint? I need sign my mom up for something and I’m not sure which one to go for.

By: Heidi

Heidi — Fri, 18 Jan 2008 15:39:08 +0000

It’s awesome that you’re doing this with/for your mom. I work in the retirement services industry and it’s shocking to me how many pre-retirees haven’t given the “decumulation” or asset spend-down part of retirement any thought.

Investment aggregators are priceless in this stage of life – happy to hear that you have her set up on Yodlee.