Retirement may seem like a distant or even unreachable goal, but it is a life event that is slowly nipping at your heels. While it should represent a reward after years of working hard, retirement can also be associated with uncertainty and more work for some. According to Careerbuilder.com as many as 54 percent of people have stated they plan to work after retirement.
Planning Tips for Your Retirement Read More »
Financial advisers strongly recommend that before you consider retirement you should be debt free. After all, if you couldn’t pay your debts with a higher income, how will you be able to do so with a reduced retirement income? But sometimes things don’t work out as planned, perhaps you are forced to retire earlier than planned due to downsizing or health issues, so it’s a good idea to have a backup plan in place.
Tricks to Help You Survive Retirement Financially Read More »
Depending on your financial background… becoming financially secure can be an impossible dream, a wish, a goal or a foregone conclusion. We all know that financial stress can cause everything from relationship problems to health issues. So making financial security a reality will benefit you more than just financially. But what makes the difference between financial security being a dream and a reality? Most of the difference is in your head. Donald Trump could lose all his money and become a millionaire again very quickly primarily because he knows how to do it. Where if you gave someone in the Ghetto a million dollars he would probably be poor again in about the same amount of time. Here are four tips to get you started on the right track.
Planning Your Future: 4 Tips to Financial Security Read More »
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 »
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 »
Portfolio rebalancing can be a very effective strategy, particularly with money earmarked for retirement. No one can guarantee the market will come back quickly from a downturn. Retirement investors must protect their principal because they might not have time to recover from a 40-50% drop in their net worth.
Rebalance Your Retirement Portfolio for Optimal Protection Read More »
A single bad market event can have catastrophic effects on your retirement funds so it is important to have safeguards in place to help reduce the possibility of waking up one morning and finding your nest eggs broken. The brokerage community insists that if you are just patient enough your portfolio will rebound but, what if it doesn’t? In today’s article Dennis Miller takes a look at some steps you can take to help protect your Life’s savings.
Be a Good Boy Scout with Your Finances 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 »
