Watchful readers, thank you for catching the typo that appeared in the Periscope last week.  Please accept my apologies, along with this correction:  If you haven't taken your required minimum distributions, and you are over the age of 70 ½, then you need to do so in 2010. Last week, I said the age of 59 ½ and the correct age should have read 70 ½.

On a related note, we get a tax break! All income earners will pay 2% less taxes (on the first $106,000 of earnings) in 2011 as the Social Security tax drops from 6.2% to 4.2%. You've lived without the money so far, so consider increasing your contributions elsewhere.

What if you put the difference in an IRA or 401k? Or, better yet, invest in a Roth IRA or 401k!