Avoid Financial Surprises During Your Retirement

The subject of how much money a person needs for retirement is a tricky one. Each person’s needs are slightly different, which can make for difficulty in deciding what a good amount is. There are also some things that you may not think about which may come up later on and cause trouble. One of the most difficult things to think about or discuss is health care. No one likes to talk about it because as we grow older, many things can happen with our health. We may be affected by a major illness, for example, or arrive at a … Continue reading →

Money in Your Golden Years

I once sat through a workshop sponsored by a company I used to work for where the guy in charge kept warning: “There are no do-overs when it comes to retirement planning.” He also added (in a very ominous tone) that if we messed up now we’d all be doomed to a life of penny-pinching in our golden years. Ah, memories of corporate America. Truth be told, the workshop leader’s scare tactics were quite effective. His advice was sound and bears considering regardless of whether you are self-employed or part of a multi-million dollar corporation. Retirement planning is important, as … Continue reading →

Elderly Women and Retirement

Whenever I think about elderly women, of course my grandmother comes to mind. She and I were very close. I remember going up to stay with her from time to time, often for five days or a week, and enjoyed her simple, laid-back lifestyle. She canned, she gardened, she did crossword puzzles, she wrote in her journal—and she always had a cookie jar full of various home-baked treats for her grandchildren. It wasn’t until I was in my mid-teens that I realized something: Grandma didn’t have a lot of money. It wasn’t something that had ever been an issue, so … Continue reading →

Interview: John Hauserman on 401k Retirement Funds

Today I’m continuing my interview with John Hauserman of RetirementQuest.com. Yesterday we chatted about the money that was withdrawn from 401k plans when the economy took its tumble. You can read the full article here. John, you indicated that pulling money from our 401k accounts might have been action spurred by the emotions of the moment. Can you tell us a little more about this? Savvy long-term investors might have noticed something—history tells us very clearly that panic-driven dips generally turn out to be an unusually rewarding time to be buying stocks (assuming you have time to wait out the … Continue reading →

Interview: John Hauserman on Retirement Planning

This morning I had the chance to chat with my friend John Hauserman of RetirementQuest.com. I’m a little ways down the road from retirement, but that’s the perfect time to start thinking about it—when it’s not an urgent, pressing need. By then it’s too late. I asked John a couple of questions that have been on my mind. John, I’m not a risk-taker, and I love it when people can give me a heads-up so I don’t make a huge mistake. What do you consider the single biggest mistake people make when it comes to planning for retirement? The single … Continue reading →

Living Longer … But Living Well?

We live in a day and age of miracles. Because of advances in modern health care, we are now able to prevent disease and treat it effectively if it does take place. Senior citizens can expect to live longer than ever before, which is wonderful news. There will be more time to spend with grandchildren, working on hobbies, finishing up those projects that never quite got done. A hundred and fifty years ago, living to the age of seventy was considered quite amazing. Today, seventy-year-olds are out on the golf course or in the swimming pool, putting the younger men … Continue reading →

Want To Save Yourself $800?

Okay, how can I save $800, you ask? Actually, you can save even more than that by becoming familiar with financial markets, retirement planning and more. One comprehensive evaluation with a financial planner, where he or she will sit down and evaluate your retirement goal, typically costs $800 to $2000. Hey, why not learn some financial planning on your own and turn it into a side business! Then, not only will you save money, you can make a little money as well. How do you learn what to do in order to plan for your retirement appropriately? Do the research! … Continue reading →

Tips for Retirement Planning

Every year you should take the time to evaluate your long-term financial plans. If you are very close to retirement, you might need to do this more often than once a year. Try to come up with a schedule that works for you. Look at it each year on your birthday, the New Year, each fall when school starts, at tax time, find a time that is best for you. During this time, your retirement plans should be part of this process. When you do sit down to review, consider these tips: 1. Every year we see inflation rising. Your … Continue reading →

About to Retire?

If you are very close to retirement, the struggles in the economy may worry you. When your retirement occurs at the same time as a market lull or bear market, there are some standard “rules” to follow. Most people these days are living longer. Therefore, when you do retire, you will need to ensure you have enough income to sustain your standard of living for 30 plus years. This can be tricky to accomplish if the market is on a downtrend. Many financial experts recommend that you withdrawal no more than four percent of your total portfolio as an initial … Continue reading →

Couple Retirement Planning

Ideally, couples should plan their long range and retirement goals together. Of course, it isn’t always easy to formulate a plan that both agree on. As a couple, you will need to take the time to sit down and discuss both individual goals and joint objectives. If you take the time to work together and come to some agreement on mutual goals and expectations, you are far more likely to come out ahead. It is easier to gain financial momentum when a couple can combine their assets and strengths. You don’t even have to have the same goals to do … Continue reading →