The number one rule of saving for retirement is to max out your 401(k) contributions …right? The adviser cited in today’s article has a different take on this widely-accepted piece of financial wisdom, arguing that, for many, there might be better options. For whom does he believe maxing out 401(k)s contributions is not the best option, what does he recommend…
A new “unretirement” life stage. A “cyclical” (rather than linear) lifeline. Much of what we pay for today (including auto insurance) being free. New “healthopia” communities for affluent boomers. These are some of the predictions so-called “futurists” are making in regards to the personal finances of Americans over age 50 over the next five and 10 years – as well…
One of the macro-level changes in the investment landscape has been the large-scale shift by investors into indexes and ETFs (and away from stocks and mutual funds) – a shift that the author of today’s article sees as being based on misplaced beliefs, and one that he warns will cost those investors – especially younger investors – in the long…
After being delayed, the Department of Labor’s fiduciary rule – which requires that all financial professionals put the best interests of their clients first when it comes to retirement accounts – is set to be implemented (for now) on June 9. But beyond eliminating conflicts of interest, will the rule make it less expensive to invest for retirement? Today’s article…
There was a time when a million dollars would have seemed like a mythical amount of money. Today, however, despite the fact that many retirement savers have arbitrarily set $1 million as the amount they need to amass for a secure retirement, many financial advisors caution that a nest egg of this size could still leave people short in retirement.…
Will they or won’t they…destroy the stock market? One theory making the rounds in the investment world is that, as a result of a combination of a mass movement from stocks to bonds and taking required minimum distributions, baby boomers will be huge stock sellers in the coming years, with devastating implications for the stock market. But how likely is…
If your vision for your retirement includes starting a business, one financing option is a ROBS – a Rollover as Business Startup, where funds from eligible retirement accounts are rolled over and invested into a new business (or used to buy an existing business). One major advantage of a ROBS? There’s no need to get loan approval. But one critical…
The transition from building up savings leading up to retirement to spending down those savings once in retirement can be challenging, both strategically and psychologically – and thus mapping out an in-retirement financial plan is critical, notes the author of today’s article. To aid in this complicated endeavor, she lays out “the key tasks to tackle” when devising such a…
A recent survey of 401(k) participants found that almost 70% believed they would be able to save enough for a financially secure retirement. The problem? Two-thirds of those surveyed believed that returns going forward will be in line with – or higher than – returns in the past, while most analysts expect that returns will be lower – perhaps significantly…
Are you willing to give up an hour (actually less than an hour) of your time in the interest of helping to ensure that your retirement savings will be sufficient? If so (and who wouldn’t?), today’s article lays out three easy steps to complete in this regard. Those three steps? Estimate your life expectancy, determine the appropriate equity percentage for…