I've written many times about the importance of not leaving your 401(k) retirement plan with your previous employer. But it's equally important that you transfer your 401(k) money the proper way.

As I mentioned last week, Social Security income can be taxed up to 50 percent. Many people reach the age when they must make a decision on whether or not to start collecting their SSI. If they invest the money, instead of spending it, they may be able to accumulate a little nest egg for the future.

We hear so much about saving for retirement but not so much about managing your money when you are retired.