Thursday, March 24th, 2011
Dear Dave: I noticed that your Baby Steps list puts saving for retirement before saving for your children’s college fund. Sending your kids to college would come first on the timeline, so why do you suggest this? —Jen
Dear Jen: I advise this approach because everyone is going to retire someday, unless, of course, they happen to die before reaching retirement age. Retiring and eating are necessities. College is a luxury. Lots of people succeed in life without going to college, and thousands have worked their way through college. I worked 40 to 60 hours a week in college, and I still graduated in four years. (more…)
Tags: budget, college, debt, divorce, emotions, financial freedom, financial planning, goal setting, retirement planning, savings
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PERSONAL FINANCE |
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Saturday, March 19th, 2011
During the halcyon years preceding the Great Recession, many investors were lulled into believing that if they only contributed regularly to a retirement account, they reasonably could expect a materially comfortable life in their golden years.
Much has changed. IRA and 401(k) savings were sliced in half during the stock-market free fall of 2008 and early 2009. Despite a rebound, the market’s recovery has come in fits with frequent setbacks.
Equity investments, like the age-indexed mutual funds that became widely popular early in the last decade, have lost their luster. (more…)
Tags: 401(k), bonds, exchange traded funds, financial planning, goals, INVESTING, retirement planning, savings, stocks
Posted in
INVESTING |
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Thursday, March 17th, 2011
More Americans — now more than one in four — fear they won’t have enough money when they retire, and fewer are confident they do have enough, according to a new survey.
The survey conducted by the Employee Benefit Research Institute shows that turmoil in the markets and investment losses suffered during the recent recession have left many Americans fretful about their prospects for a financially secure retirement. (more…)
Tags: financial planning, INVESTING, retirement planning, retirement savings
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BLOG |
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Wednesday, March 16th, 2011
The most popular states to which professionals choose to retire are Florida and Texas. During the past two decades, 9 percent of all Americans over age 60—some 4.4 million people total—relocated, according to an AARP Aging and Migration report.
“Each state has a different taxing system, so find out what tax benefits individual states offer by contacting the municipal office in the city of your dreams,” advises Steven Gershman, a certified public accountant with KatzAbosch in Timonium, Md. “Do your research before deciding on a state to relocate to.” (more…)
Tags: relocation, RETIREMENT, retirement planning, savings, state taxes
Posted in
RETIREMENT |
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Friday, March 4th, 2011
You’ve seen the headlines: Cities and states across the country face calamitous financial problems. Underfunded pension plans, skyrocketing energy costs and an eroding tax base have all conspired to make local governments a much less certain bet for investors.
Cities like Detroit, Pittsburgh and San Diego have massive pension shortfalls that could lead to Chapter 9 bankruptcies. Other cities with major underfunded pension liabilities include Fort Worth, Texas; Dearborn, Mich.; Syracuse, N.Y.; Hanover, Pa.; and Houston.
Does all that mean it’s time to pull out of municipal bonds altogether? (more…)
Tags: debt, INVESTING, municipal bonds, public pensions, retirement planning
Posted in
INVESTING |
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Thursday, January 13th, 2011
The 2008 financial meltdown devastated retirement portfolios, turning the lifelong dreams of countless Americans into bitter disappointments. A double whammy for many retirees was realized when they discovered their supposedly balanced investments were anything but and asked their brokers what happened.
Advocates for retirees say in some cases people failed to understand their brokers’ fiduciary role. Though a broker’s business card might say “financial adviser,” often his first duty is to his firm. (more…)
Tags: disclosure, financial advisers, financial planning, financial reform, retirement planning
Posted in
RETIREMENT |
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Friday, November 19th, 2010
If you’re reading this, you obviously are interested in building wealth. Investing can be an excellent way to do that. But before you start buying stocks, take a moment to consider the following common investment errors—and make sure you avoid them.
The first error is the most basic: the failure to invest at all. Some people think their money is safest while sitting in a bank account. But let’s look at the fallacy of that argument. It’s true that money in a bank is at virtually no risk of being lost. At the same time, most savings accounts pay little interest. (more…)
Tags: budget, debt, financial adviser, financial planning, INVESTING, retirement planning, savings, stocks
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INVESTING |
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Thursday, November 4th, 2010
So you are an investor or have decided you will become one. How do you develop a solid investment strategy?
First, determine your goals. Then, establish how much time and money you have to invest. Finally, choose a mix of investment products that fit your situation.
Your Goals
Of course, every investor wants to earn money. But you must force yourself to be specific. How much money do you want to earn? How soon will you need those funds and for what purposes? (more…)
Tags: exchange traded funds, financial planning, goals, growth, INVESTING, mutual funds, retirement planning, STOCK MARKET, stocks, value
Posted in
INVESTING |
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Tuesday, September 21st, 2010
Americans are a staggering $6.6 trillion shy of the savings they need for retirement. That’s the figure arrived at by Boston College’s Center for Retirement Research in a report published Monday, Sept. 20, 2010.
To get there, the researchers made an interesting and highly optimistic set of assumptions: All retirees will take out a reverse mortgage. And they’ll put (more…)
Tags: debt, financial freedom, health care, INVESTING, RETIREMENT, retirement planning, reverse mortgage, savings, STOCK MARKET
Posted in
BLOG, RETIREMENT |
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Tuesday, August 31st, 2010
To live the rich life expresses a goal for most of us, but unfortunately it has become an elusive dream for many modern-day retirees.
Today’s retirement living involves more than just leaving a job; it’s the beginning of a new chapter of life. Many baby boomers have hit their retirement target age and are eager to say goodbye to the employment ball and chain and hello to leisurely pursuits of travel and recreation. Others have been forced into early retirement by business restructuring and budget cuts but are none too optimistic about reemployment prospects. (more…)
Tags: debt, entrepreneur, expatriate, financial freedom, foreign destinations, foreign visa, health, lifestyle redesign, mortgage, REAL ESTATE, RETIREMENT, retirement planning, savings, wealth
Posted in
RETIREMENT |
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