For better or worse, many people like to sell life insurance.  But, should you buy it?

Like all products, financial and otherwise, sometimes you need what "they're" selling and sometimes you don't.  In retirement, most people find themselves on fixed incomes. As a result, virtually every expense needs to be analyzed for its appropriateness, especially now that you've entered this new life phase.

Life insurance, whether it be the purchase of a new policy or the continuation of an existing policy, should be periodically reviewed.   Life insurance's most important financial role is its protection of your loved ones in the event of your untimely demise. For most people, death during retirement will not have nearly the tremendous negative financial implications as a death during their younger years when, for example, they had young children at home.

So, take a minute to consider Do you need life insurance during retirement?

While I'm a much bigger college football fan compared to the NFL, I can't help but be amazed at the success Brett Favre has had this year.  Statistically, he's having one of the best year's of his career.  Realistically, this shouldn't happen.  Not at what he does.  Maybe if he was a finanical writer, he could be hitting his peak at age 40 (self-deprecation both intentional and noted).  But Favre plays professional football and he has a big old target on his chest every time he has the ball.

So it got me to thinking.

Brett Favre has had a hard time deciding whether to continue his career - he's retired previously and more than once.  If it's not easy to know when to retire at a job like professional football where virtually everything is both measurable and relentlessly measured, how could the rest of us know when we've really had enough?

Take away the financial considerations for a moment.  (After all, I doubt, and certainly hope, that Mr. Favre is still playing for the money.)  How can we know when the right time will be for us to retire? How did/will you decide it's time to hang up your (proverbially speaking, of course) cleats?

With 2010 around the corner, the world is soon to be abuzz with the "Greatest X of 2009" and the even more buzzworthy "Best Y of the Decade."  Not to be outdone, I developed what I believe to be the five most important retirement planning stories of the decade.

Here's the list, but be sure to check out the article, with corresponding details, when you're done.

Top Five Retirement Planning Stories of the 2000's

1. Incredible Volatility in the Markets Means Ever Changing Retirement Expectations
2. Explosion of the Roth IRA and 401(k)
3. Contribution Limits Increase Dramatically
4. Pension Protection Act (PPA) of 2006
5. Accelerated Decline of Private Defined-Benefit Pensions

I, of course, eagerly welcome any thoughts or additions to this list. Just use the comment link below.

My last poll, How much do you need to retire?, proved very popular, with several hundred of you taking the time to answer the question above. Thank you!

Today, I'm throwing another question out to you.

Ready?

When do you think you'll retire?

For this poll, "retire" means stop working at a full-time job and either cease to work completely or work only to keep busy. In other words, "retirement" in this poll means that you are financially free.

(If you've already reached that point, tell us when you did.)

P.S. Seems like the definition of "retirement" could be another interesting poll, no?