Tag Archives: retirement


Posted 11 months ago in Your Money & The Law by Janet Raasch  
Avoiding Penalties on Early IRA Withdrawals

Traditional individual retirement accounts are a good way to save for retirement.  When times get tough, however, and you need some extra cash, it can be tempting to withdraw some of this money before the minimum age of 59.5. This is almost always a bad idea, unless you are up against a wall and have exhausted every other option. To encourage Americans to save for their retirement years, IRAs offer significant tax benefits. To discourage us from dipping into these …

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Posted 1 year ago in Divorce Your Money & The Law by Janet Raasch  
Who Gets the Retirement Accounts in a Divorce?

When couples divorce, they divide up their “marital assets.” These include retirement accounts created or added to during the course of the marriage. Retirement accounts (along with the family residence) can be one of the largest components of the marital estate, and should not be overlooked. Even when retirement is a long way off, retirement accounts should be properly accounted for and valued at the time of divorce. The courts have wide powers in apportioning pension rights. There are a …

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Posted 1 year ago in Divorce Your Money & The Law by Michele Bowman  
Divorce Over 50 Can Drain Your Retirement Savings

More older Americans are getting divorced, and as a result more people are faced with dividing up retirement accounts at the end of a marriage.   Special Financial Issues People are living longer and social mores about divorce have relaxed, says Bari Weinberger, a family lawyer with the Weinberger Law Group in Parsippany, N.J. That has resulted in more older people seeking divorces. She adds that more women are exiting their marriages after their children are grown because they feel …

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Posted 2 years ago in Labor and Employment by Michele Bowman  
64-year-old City Engineer Alleges Age Discrimination

An engineer hired by the city of Cohasset outside Boston is stirring up an already-shaken political beehive with an age discrimination suit. Mark Brennan, 64 years old, lost his job to a much younger man and is fighting to return to work by filing a complaint with the Massachusetts Commission Against Discrimination. When a new town manager cleaned house after being hired in 2011, he rescinded the contract Brennan had signed with the former town manager. Brennan claims he was …

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Posted 3 years ago in Divorce by Heather Hutchins  
Boomer Divorce on the Rise

Not surprisingly, the Baby Boomers are setting yet another national trend—late-in-life divorce. According to the National Center for Family & Marriage Research (NCFMR) at Bowling Green State University, one in four divorcees these days is more than 50 years old. Back in 1990, people aged 50 to 64 accounted for just 6.9 divorces per 1,000 marriages. That number nearly doubled to 12.6 divorces per 1,000 marriages in 2009—the last year that the Centers for Disease Control (CDC) includes divorce data. …

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