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?

For the most part, you must have earned income to contribute to either a regular or a Roth IRA. Earned income does not include income from interest, dividends, or capital gains. In other words, you have to go to work.

But there's a big giant exception: spousal IRAs.

Even if you don't earn any income in a given year, you might still be able to contribute to an IRA if you're married and your spouse works. Check out the answers to several frequently asked questions about Spousal IRAs.

Wake up: it's December!  Just a month to go until 2010.  While there are plenty of reasons to be excited for the new year, retirement planners are probably most looking forward to a highly anticipated rules change in the Roth IRA conversion market (quite an exciting crowd, indeed).  Specifically, the removal of the conversion restriction is getting the group downright giddy.

Since the Roth IRA was created back in 1998, the ability for upper income taxpayers to participate has been extremely limited.  However, come January 1, any taxpayer may choose to convert his or her regular IRA or 401(k) into a Roth IRA.  The previous $100,000 income cap will disappear.  There's even more good news: you can spread the taxes due on conversion out over two years.  Learn about 2010 Roth IRA conversions.

Today is Green Friday, a day aptly named for one of the most profitable days of the year for retailers. After sitting around watching football and eating turkey yesterday, many Americans celebrate day two of the potential four-day weekend by waking up before dawn to take advantage of some fairly compelling sales.

My take: it you need the item, don't need the sleep, can save a ton of money, have a nice time. If you don't meet all three requirements, press the snooze button and increase your retirement savings.

This post when live at a quarter to five in the morning. What were you doing at that hour?

If you're going to see any relatives over 70 1/2 this week (for example, at a family gathering tomorrow), you can remind them there are no required minimum distributions necessary for 2009. Ordinarily, folks over 70 1/2 must begin taking money out of their qualified retirement plans, such as their IRAs or 401(k)s. Furthermore, they must continue doing so each year. However, due to the stock market free-fall of late 2008 and early 2009, Congress passed a one-year exemption from the requirement so that the elderly wouldn't have to sell their shares while prices were down.

In 2010, required minimum distributions come back, so this appears to be a once in a lifetime opportunity for those not needing the money, to keep it in their retirement accounts, tax-deferred, just a little longer.

Next week is Thanksgiving and I'm already looking out for you. After discussing the weather, the kids, your boss, and the weather again, you're going to need something to talk about with those people (technically, family) while the turkey is still not ready.

Why not bring up the question of how much money you need to retire? It should start a pretty good conversation. Answer here first, then note the different opinions:

I just finished a fascinating read, titled Retirement Brings Most a Big Health Boost. Recent research found that 98% of retirees polled in Europe reported greater health in the years following retirement than in their final working days.

The degree to which this surprises you, I suspect, is based primarily on your current perception of your health and your personal job satisfaction. Still, what are the takeaways?

If you're about to retire and complaining about health, good news appears around the corner. On the other hand, make sure you do what you can so that you can reach that finish line as soon as you'd like.

If you're already retired, be sure to take advantage of any increase in available time by picking up or continuing those important healthy habits. Your younger years are your most active and most healthy - generally true in life and probably true of a retirement, particularly an extended one.