RETIREMENT PLANNING » IRA & ROTH Accounts

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That’s right, it’s National Save for Retirement Week. Did you even know it existed? Since 2006, the third week of October has been designated by Congress as National Save for Retirement Week in order to “increase personal financial literacy and raise public awareness of the retirement-savings vehicles available to all workers” according to RetirementWeek.org.

While retirement is on the minds of many in this recession, how men and women think about the subject differs. According to a new study released by Ameriprise Financial on Monday morning, gender may have a huge impact on how consumers approach their retirement.

Women More Enthusiastic about Retirement

Those receiving Social Security checks will be disappointed for the second year in a row as the annual cost-of-living increase will not be implemented for 2011. The 2010 failed increase was the first time in three decades that Social Security recipients did not receive their cost-of-living adjustments and it’s happening again.

Low Inflation Equals Failed Increases

Thomas J. Feeney has been in the investment industry for over four decades. As the chief investment officer of both Marathon Asset Management Co. and Mission Management & Trust Co., there isn’t much of the financial world he hasn’t seen. As much as his schedule allows, he also breaks down his thoughts and strategies on his blog, Measure of Value.

Every other week, we’ll tap Tom’s insights to get a deeper perspective of what’s going on in the market and see through his eyes what the smart money is thinking.

What is a financial professional? The term loosely covers anyone that works in an industry dealing with, well, finance. This could be someone as prominent as a stock broker on Wall Street or someone as common as your local insurance agent or tax accountant. Knowing the area of expertise each one deals with will help you pinpoint the right hire to help you meet your financial goals. After all, you wouldn’t have your insurance representative do your taxes or your CPA accountant picking your stocks.

The following is a simple break down of five of the most common industry professionals working in finance. While some responsibilities do blend together and some professionals do double dip in expertise, this guide should help clarify where each professional fits in the world of finance.

Managing your personal finances often feels like a juggling act; keeping all the balls in the air can be a challenging feat. You need to balance the money coming in with the expenses going out. Add to this saving for emergencies, short-term goals such as vacations and long-term goals like retirement and it isn’t hard to see why it can be difficult to manage your personal finances.

There are certain priorities which should be considered when structuring your savings strategy. Here we look at how you can prioritize your savings, making it possible to achieve both short and long term savings goals.

If you have a 401(k) retirement fund, you have probably been spending a lot of time stressing over it recently. The economy has been hit hard and many people saw the funds in their 401(k) plans seriously drop in value. To make matters worse, many people continue to lose their jobs all over the country and are wondering what to do with their 401(k) plans since many companies cease participation if you no longer work there.

The good news is that you can perform a 401(k) rollover, in which you taking the money from your current 401(k) and roll it over into a new retirement savings plan. Of course, as with most financial transactions,there are 401(k) rollover fees.

Realizing that your retirement plan has taken a huge setback is a common symptom of the recent recession. The good news, however, is that there are ways to go about rebuilding your funds.

Though 60 percent of baby boomer, according to a recent study conducted by Bell Investment Advisors, have put off retirement for one to four years due to lost investments and perception of inflated prices.

Finance is a topic that the average American doesn’t know a whole lot about. Sure many of us can create a simple budget or open a savings account, but when it comes to debt management or retirement planning, we’d probably be better off consulting a professional.

Unfortunately, the services offered by financial professionals don’t come cheap. A financial advisor or tax expert can charge several hundred dollars per hour. So what do you do when you need expert advice but can’t afford much more than a Google search? Here are a few ways you can get answers from a qualified person without going broke in the process: