There are many ways to generate extra income, and the key to a secure retirement is to generate a source of passive income, whether that be stocks, real estate or a business. The key is to develop a system that will work for you so that rather than trading hours for dollars you can afford to spend your time on other pursuits while your personal money machine works for you.
Your Own Personal Money Machine Read More »
Retirement is actually a fairly recent invention. In ancient times people didn’t often live long enough to retire and those that did were often unable to accumulate enough savings to live on and thus simply relied on their children to support them while also continuing to contribute to the family to the best of their ability. There were several attempts to establish a government pension including one established during the Revolutionary war and although the states were responsible for making payments, they fulfilled their obligation to only 3,000 disabled veterans. Private pensions however, got their start during WWII. During the war, the National War Labor Board froze wages in an effort to prevent (i.e. to mask) inflation. But simultaneously there was a massive shortage of workers due to the war effort so companies offered other benefits like the defined benefit pension plan to woo workers.
But then in the 1960’s and 70’s massive stock market gains made some companies believe that their pension plans were “over-funded” so they began raiding their pension plans but then the stock market took back the gains and the plans were underfunded so companies began switching to individual IRA’s and 401k plans. So then people were no longer guaranteed a secure retirement since it now depended on your individual contribution, as well as the company portion. Today Dennis Miller will look at some alternatives to save your retirement.
Can a Double-wide Save Your Retirement? Read More »
“Part of aging is realizing that you cannot change the past, understanding that no one promises you tomorrow, and finally deciding to enjoy the moment.”
But in order to enjoy your retirement you need to have planned and saved for it properly. In today’s post Dennis Miller looks at life after work. ~ Tim McMahon, editor
Enjoy Retirement Have Enough Money to Stay Independent. Read More »
For a long time, the conventional wisdom was to keep 20-35% of a retirement portfolio in cash. Today holding that much cash in the bank or your brokerage account is like a leaky faucet. It leaves your purchasing power going drip, drip, drip. And a bundle hidden under a mattress? Don’t even think about it!
The Most Overlooked Threat to Your Buying Power Read More »
It is essential to start saving money as soon as you can, in order to have enough money during your retirement. There are many ways to save money for retirement including personal savings accounts, retirement savings plans from your employer, and Individual Retirement Accounts, also known as IRA’s. Take a look at these different ideas for saving you money and preparing for your future the right way.
Saving Now: How to Prepare Financially for Your Retirement Read More »
With the current economy some people are postponing retirement for a few years or working part-time during retirement in an effort to pay the bills. No one wants to end up in retirement working at Walmart as a “Greeter” or cashier… so lets look at what can be done to plan for a quality retirement.
Take Back the Retirement You Dreamed Of Read More »
Optimizing your Social Security payments hinges on more than the age you at which you start receiving benefits. Guru’s and financial planners often make it sound easy to decide when is the optimal point to begin collecting your Social Security. But the question is really trickier than it might seem. Every situation is different and with many couples having two working spouses eligible to collect Social Security deciding on the perfect age to begin collecting is even trickier. But there are a variety of options… some of which are rarely discussed… including having the spouse with the shortest life expectancy begin collecting early while the other waits until later. In today’s post Dennis Miller looks at a few other options you should consider.
Will You Blow $180,000 of Your Social Security? Read More »
The Employee Benefit Research Institute surveys workers each year concerning their retirement confidence. Despite an uptrend, the latest report shows that 82% of workers feel less than “very confident” about having enough money to retire comfortably.
Afraid Your Money Will Vanish before You Do? Read More »
For real people, building a rich retirement requires creative solutions beyond “start saving early.” In today’s post Dennis Miller looks at conventional wisdom and compares theory with practice. He shows that the average investor doesn’t even keep up with inflation (i.e. he actually loses purchasing power with every year that goes by.)
9 Ways to Retire Rich Read More »
Recently, our friends at Milliman Employee Benefits created an infographic on retirement planning for the millennial generation. Millennial’s parents were from the “boomer” generation and because so many of the millennial generation are returning to live with their parents they have gotten the nickname the “boomerang” generation. Of course, if you are living in your
Retirement Planning for the Bommerang Generation- Infographic Read More »
Depreciation is the reduction in an asset’s value over time. For automobiles, the first hit comes in a matter of minutes. Drive the car around the block, and it’s no longer a new car; it’s used.
The Real Toll Car Depreciation Takes On Your Net Worth. Read More »
By Dennis Miller I was just a kid—barely wet behind the ears. At two minutes before midnight, the sergeant of the guard and I marched onto the runway tarmac. Following protocol, I formally relieved the previous guard of his post. This was mid-July at the Marine Corps Air Station in Yuma, Arizona. For the next
Retirement Guard Duty 101 Read More »
