Q. Is a person at full retirement age collecting Social Security benefits allowed to continue to work and make an unlimited amount of money without jeopardizing his Social Security benefits? - RTS

A. You could be in luck, but you have to be very careful about how you calculate your "full retirement age" or you could be in trouble.

Your normal full retirement age is between 65 and 67 years old, depending on when you were born, said Margaret OMeara, a Red Bank-based certified financial planner.

To see your precise full retirement age, check your Social Security benefits statement (if you got one), look online at ssa.gov or call Social Security at (800) 772-1213.

"Loss of benefits can occur in the year in which the individual reaches normal retirement age, however, once a beneficiary is older than full retirement age, he or she will not lose benefits," OMeara said.

But thats when taxation of benefits becomes a concern. More on that in a moment.

If you plan to receive benefits prior to your full retirement age and you do plan to work, make sure you review your specific situation as the rules governing loss of benefits are complex and the penalties may be more onerous than you think, she said.

If you are younger than full retirement age, there is a limit to how much you can earn and still receive full Social Security benefits, said Alan Meckler, a certified financial planner with Cornerstone Financial Group in Succasunna.

If you are younger than full retirement age during all of 2012, $1 would be deducted from your benefits for each $2 you earned above $14,640, he said.

OMeara said if your income plus half of your Social Security benefits exceed $25,000 for an individual or $32,000 for married couples filing jointly, 50 percent of your Social Security income will be included in your gross income. If your income plus half of your Social Security benefits are $34,000 as an individual or $44,000 as a married couple, 85 percent of your Social Security income will be included in gross income, she said.

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Biz brain: social security benefits after retirement possible for ongoing worker?

In Friday's blog post, called "Averting retirement disaster," I described the risk-averse approach to retirement planning that Erin Botsford writes about in her book, "The Big Retirement Risk: Running Out of Money Before You Run Out of Time."

I'll reiterate: It's a must-read for those who are approaching retirement. If you don't want to subject your portfolio to the whims of the market and take a chance on having to postpone your golden years due to market mishaps, you need to adopt a defensive stance. But how can her philosophical investing approach be put into retirement-planning practice?

I asked Botsford if she would design a portfolio for a hypothetical married couple, age 55, with $500,000 between them in retirement accounts, plus a cash-balance plan worth $130,000. They want to retire at 62 and plan to continue saving 15 percent of their income in their respective workplace plans until then. They expect to have the house paid off by the time they retire. They will need a minimum of $4,000 a month to meet basic needs and would like an additional $2,000 a month to fund vacations, hobbies and dining out. They harbor no illusions about buying a second home or a boat.

How should they allocate their portfolio now, and then at age 62?

Botsford stipulates that each couple's circumstances are different, so this would not be a one-size-fits-all solution. But here's her advice for the hypothetical couple while they're in their mid-50s: Allocate 50 percent to short-term bonds, another 30 percent to intermediate-term bonds and 20 percent to blue-chip stocks at this point in time.

"This couple is close enough to retirement that they should not be taking any significant risks with their investments," Botsford says. "Since they have the ability to invest tax deferred into their 401(k)s and have a company match, it makes sense for them to continue to do so. However, investment options are often limited inside of 401(k) plans. They should consider short-, medium-term bond funds to get some return on their money without taking too much risk from a high-equity position."

If all goes according to plan, Botsford calculates that their retirement portfolio will be worth about $835,000 in seven years if they continue to contribute 15 percent of their salary, assuming a 4 percent annualized return.

The couple's after-tax needs are $48,000 per year, and Botsford projects that their Social Security benefits would amount to about $28,000, assuming a tax bracket of 15 percent.

"This leaves a shortfall of $20,000 to cover their needs," she says. "I like to use lifestyle investments to fund the needs category. These could be investments such as bonds, annuities, non-traded real estate investment trusts and a number of other similar investments. These are all income-producing investments that, as of today, we should be able to get an average income of 5 percent from. At their 15 percent tax bracket, it would take $470,000 invested in these types of products to produce the additional $20,000 needed.

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Investing for retirement security

TORONTO, ONTARIO--(Marketwire -03/05/12)- According to a BMO Financial Group study, almost 40 per cent of Canadians made a 2011 contribution to their Registered Retirement Savings Plans (RRSP) before the February 29th deadline.

While the deadline to make a 2012 contribution may be a year away, it is never too early to think about retirement planning.

During the month of February, BMO released daily retirement tips from BMO Retirement Institute Head Tina Di Vito's new book 52 Ways To Wreck Your Retirement...And How To Rescue It.

Here is the full list of 52 tips, one for each week until next year's deadline:

To view the full tips, please visit http://newsroom.bmo.com/, or purchase a copy of the book 52 Ways To Wreck Your Retirement...And How To Rescue It by Tina Di Vito.

For more information on retirement: http://www.bmo.com/retirement.

Get the latest BMO press releases via Twitter by following @BMOmedia.

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BMO: Save Your Retirement This Year by Following 52 Simple Tips

INDIANAPOLIS--(BUSINESS WIRE)--

The retirement business of the OneAmerica companies enjoyed their most successful year in every major sales category once again smashing records set in 2010 for 401(k) sales, employer-sponsored not-for-profit sales, total assets and plan participants. OneAmerica also had its best year of retaining retirement business and renewal growth a measure of the growth of assets within retirement plans already with the companies.

2011 was a year of cementing our leadership position within the retirement plan marketplace, said Bill Yoerger, president of retirement business for the OneAmerica companies. While the growth of our retirement business has been substantial these past few years, we are also executing on the promises we are making to customers to provide exceptional local and customized service and support in meeting the needs of their plan participants.

The OneAmerica companies achieved 51 percent year-over-year growth in overall retirement sales including a 67 percent increase in 401(k) sales. They ended the year with a record 95 percent retention rate on existing business including 98.6 percent retention on their large block of tax-exempt health care business. OneAmerica also achieved 20 percent growth on existing plans and ended 2011 with more assets under management and plan participants than at any other time in the 130-year-plus history of the enterprise.

We continue to be excited not just that we are growing, but how we are growing, added Yoerger. We serve four markets from smaller to larger plans, as well as for-profit and not-for-profit businesses. Our growth is consistent and balanced across all these core markets.

OneAmerica added additional talent in sales, service and marketing in 2011, expanded the distribution of its open-architecture trust solution to registered reps, launched a multiple employer plan and continued winning national accolades for its custom plan participant communications program. American United Life Insurance Company (AUL), a OneAmerica company, was named the number one 401(k) provider in five key satisfaction categories according to the Boston Research Group's 2011 Defined Contribution Plan (DCP) Sponsor Satisfaction and Loyalty Study.

About OneAmerica

OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies of OneAmerica can trace their solid foundations back more than 130 years in the insurance and financial services marketplace.

OneAmericas nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other clients. These products include retirement plan products and services; individual life insurance, annuities, long-term care solutions and employee benefit plan products. The goal of OneAmerica is to blend the strengths of each company to achieve greater collective results.

The products of the OneAmerica companies are distributed through a network of employees, agents, brokers and other distribution sources that are committed to increasing value to our policyholders by helping them prepare to meet their financial goals.

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OneAmerica Retirement Sales up 51 Percent in 2011

WASHINGTON - Even in a flailing economy, many Texans in Congress have seen their personal net worth swell - and 17 of the state's 34 representatives on Capitol Hill have emerged from the recession with money in the millions.

"It's to be expected that members of Congress would see their holdings recover more quickly than ordinary Americans," says Cal Jillson, a political scientist at Southern Methodist University. "They arrive in Congress better educated and wealthier than their constituents - and with established careers."

The median change was a 25 percent gain in delegation members' net worth over the latest four-year period - a far better performance than the 11 percent loss in value suffered by financial holdings tracked by Standard and Poor's 500 Index.

Of the U.S. senators and Congress members who represent the greater Houston area, 8 of 11 showed increases in personal wealth.

The exceptions are Republican Sen.Kay Bailey Hutchison, whose net worth dropped by 33 percent since the end of 2006 to an estimated $5.2 million at the end of 2010; U.S. Rep. Pete Olson, R-Sugar Land, whose net worth dropped 21 percent to $1.4 million; and U.S. Rep. Gene Green, a Houston Democrat who slipped 20 percent from $656,004 to an estimated $522,503.

Four Houston-area House members made the millionaire's cut: Republican Michael McCaul, with an estimated $380 million; Democrat Al Green, with an estimated $4.5 million; Republican Ron Paul, with an estimated $3.6 million; and Olson.

McCaul's holdings make him the second wealthiest member of Congress, in large part due to the financial status of his wife, Linda Mays McCaul, who received money transfers from her father, Clear Channel Communications Chairman Lowry Mays. McCaul's estimated net worth grew from almost $47 million in 2007 to $380 million in 2010.

Data from center

"A lot of members are wealthy to start with and wealthy people are more likely to have a financial adviser looking over their assets to ensure that they take advantage of opportunities," says Sheila Krumholz, executive director of the Center for Responsive Politics and who has tracked tracks lawmakers' finances.

Past studies by Georgia State scholar Alan Ziobrowski found lawmakers' portfolios often outperform constituents' holdings.

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Many Texas congressional leaders got richer during the recession

Long-serving Proteas all-rounder Jacques Kallis [ Images ] has announced that he will make a special donation to the Yuvraj Singh [ Images ] Foundation.

Kallis made the announcement as Cricket South Africa [ Images ] (CSA) declared that Kallis is to be honoured at a special T20 international between India [ Images ] and South Africa at the Bidvest Wanderers Stadium in Johannesburg on March 30.

"I would also like to announce that I will be making a personal donation to the Yuvraj Singh Foundation. As we all know Yuvraj is going through a difficult time at the moment battling a serious illness and I went through a similar experience when my own father died of cancer at a relatively young age," Kallis said.

"I am sure the entire Proteas' squad and indeed the Cricket South Africa family joins me in wishing him a speedy recovery."

"This match is a follow-up to last year's successful T20 match at Moses Mabhida Stadium in Durban," said Cricket South Africa (CSA) chief executive Gerald Majola, adding that agreement had been reached with the Board of Control for Cricket in India (BCCI) to make this an annual fixture.

"We want to make this a Jacques Kallis evening in which we acknowledge his huge contribution to the Proteas and South African cricket generally as player, role model and mentor," Majola said.

The inaugural match in January 2011 was a glittering affair preceded by a Bollywood concert featuring Shahrukh Khan [ Images ], Anil Kapoor [ Images ], Priyanka Chopra [ Images ] and Shahid Kapur [ Images ].

It brought to an end a year of festivities to celebrate the arrival of the first Indian indentured labourers to South Africa 150 years earlier.

Kallis said he felt humbled and honoured to be given this tribute.

"It is something I really appreciate. Cricket South Africa has given me wonderful opportunities to live the dream I have had from the moment I picked up a cricket bat for the first time."

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Kallis to make personal donation to Yuvraj Singh Foundation

By

IrishCentral Staff Writer

Published Monday, March 5, 2012, 8:47 AM

Updated Monday, March 5, 2012, 8:56 AM

Lindsay Lohan hosting "Saturday Night Live"

Photo by Google Images

The 'Mean Girls' actress - who has endured several stints in rehab and a string of legal problems in recent years - kicked off the show by referring to her stint under house arrest in the opening monologue.

She joked: "Wait, so the alarm goes off if I leave the stage?"

'Bridesmaids' actress Kristen Wiig also mocked the guest host, giving her a hug that turned into a body search for illicit substances, quipping "she's clean" at the end.

In another sketch, she donned a bandana to play a prisoner trying to scare three boys of a life of crime, and made reference to her arrest last year for stealing a necklace.

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Lindsay Lohan poked fun at her troubled personal life when she hosted 'Saturday Night Live'

Liverpool defender Martin Skrtel insists he still has room for improvement despite enjoying arguably his best season at the club.

The Slovakia centre-back has put in numerous commanding performances and has also weighed in with four goals this season, more than doubling his tally from the previous four years. But the 27-year-old believes there is still plenty more to come from him as he looks to build on his recent run of good form.

"For the last few months I have been pleased with my performances," he said. "There is no reason for it. I have just tried to do my best and not put too much pressure on myself. It helps that the team is doing well too. When the team is playing at a high level, it gives everybody confidence to reach their levels.

"Experience has a lot to do with it. As you get older you learn how to deal with success and failure and I feel a lot more confident in my ability to make the right decisions. In the last 18 months a lot has changed and I think everybody agrees that it has changed for the better.

"Nobody is complete. You see players older than me trying to get better and that inspires you. You see people like Bellars (Craig Bellamy); ones who give everything every day.

"He has been very successful for a long time but he still wants to be the best. You have to have that attitude. I am 27 now and I think I can still improve."

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Skrtel happy with personal improvement

FORTUNE -- The latest installment of Applemania debuts this Wednesday, when Apple is expect to unveil another wonders of consumer gadgetry. The Apple-obsessed world expects an iPad 3. But then that same community was crestfallen not to receive an iPhone 5 in October. (Mere consumers, meanwhile, snapped up 37 million iPhones the following quarter, including the clearly-magical-enough iPhone 4S.) Apple's tease to journalists in anticipation of the March 7 event in San Francisco -- "We have something you really have to see. And touch." -- might just as likely signal a revamped iPod Touch. Or perhaps we'll be able to fondle an Apple TV remote-control device.

Whatever. The fact is that all eyes once again will be focused on the world's most valuable company. Those eyes have watched Apple's (AAPL) every move for years now, of course. Yet what's remarkable is how little the competition catches on, or catches up, to Apple's ways. Yes, Apple is special. And no, not every company can and should be like Apple, at least not in every way. But there are key aspects of the Apple playbook that other companies absolutely should emulate. Here are three:

MORE:The secrets Apple keeps

Say no more often. Steve Jobs was fond of saying that saying no was harder -- and more important -- than saying yes. Apple said no to making personal digital assistants, in the 90s that is. It said no for years to making a telephone-- until it said yes. Apple refused to focus on selling to businesses. It wouldn't put a USB port on the first iPad. And so on. While not every company can achieve Apple's level of Zen by rejecting seemingly good business opportunities, there isn't a company out there that wouldn't benefit by more rigorously asking itself: "Have we absolutely satisfied ourselves that we have said yes for the right reasons?" How many companies pursue revenue opportunities that any new recruit knows the company is doing to make money rather than delight customers. (An example: Jobs ridiculed the PC industry for years for the margin-boosting "crapware" that comes loaded on a PC. The crap remains.) It takes real courage to say no. But it's not like top executives aren't being compensated for brave action.

Focus your message better. Whatever Apple unveils this week, you can be sure it will be succinctly explained and that the explanation will be summarized in a short, pithy expression. The iPod was a thousand songs in your pocket. The iPhone was the best iPod Apple had made as well as a phone with a Web browser. When Steve Jobs showed the iPad 2 he stressed repeatedly that we were living in a post-PC world. How convenient for the company leading the tablet computer revolution. Other companies muddle their message, in part by allowing multiple spokespeople to deliver it. Apple sharply limits the messengers of its sharply crafted message. The result is that its customers repeat Apple's lines exactly as Apple crafts them. It's the ultimate feedback loop.

MORE:Why Apple will pay a dividend

Make products, not money. It is counterintuitive, and almost unbelievable, but Apple's way is the antithesis of the revenue optimization of the rest of the business world. Of course Apple wants to make money, and of course profits are important. (It registered an astounding $13 billion in profits last quarter.) But Apple doesn't approach a new product from the perspective of how much money it will make. Instead, it dreams up what will be a product its own people want to use, and then its sets about making the product. Only later will Apple apply the typical levers of business -- pricing, market penetration, etc. -- to its product plans. It's similar in tone and spirit to the career advice that wise older people give to inexperienced younger people: Do what you love, and the money will follow.

Adam Lashinsky's book,Inside Apple: How America's Most Admired--and Secretive---Company Really Works, was published in January by Grand Central Publishing.

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Secrets to Apple's success

LETTERS

Illustration: Cathy Wilcox

Joe Hockey's story of his refugee family making good in postwar Australia is indeed inspiring (''Politics of division will kill ambition'', March 5). However, Mr Hockey fails to mention that during those years rates of taxation for companies and wealthy individuals in this country were vastly greater than they are today. Thanks in large measure to this revenue, and a less hysterical approach to public debt, governments were able to build the infrastructure and provide the services that underpinned the long postwar boom.

Without this economic and social environment, people like the Hockeys would likely have found Australia a far tougher place to prosper. For today's wealthy elite and their political representatives to constantly demand ever-lower taxation not only smacks of selfishness but also of short-sightedness.

Geoff Saunders Jamberoo

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Mr Hockey misses the point. Swan and others, myself included, do not object to outstanding individual achievement and success. The objection is to the abuse of power, not the success itself.

Simeon Glasson Bondi

As one of his constituents, I feel disappointed that Joe Hockey has trotted out the ''envy'' card again in the discussion about the contributions of mining magnates to Australian society.

Nobody denies people the fruits of their success but there is an issue of equity. The Australian people, not just these individuals and their families, shareholders, employees and some parts of their communities, should receive a more substantial part of what belongs to ''our common wealth'', to provide for the common good now and in the future. The land belongs to all, not to companies or individual states.

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True success lies in making a real contribution