Category: Retirement
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Lower Fed Rate Drops CD Rates
The Fed dropped the federal funds target rate by a whopping 125 basis points in ten days, resulting in a variety of CD rates to fall way under 5%. For the income investor, Certificates of Deposit have always been a nice “base” onto which to build your income generating retirement portfolio so this past week’s…
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Have You Adjusted Your Retirement Savings?
Given the recent market turmoil, it’s understandable if you’ve gone back to review your retirement accounts and made some moves. While I personally haven’t done anything, I try to subscribe to the long term view and believe short term adjustments won’t help, I totally understand those who have made changes. That being said, the latest…
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2008 Tax Stimulus & Retirees on Social Security
As it stands, if the bill that was passed in the House were to be rubber stamped by the Senate (it won’t be, but let’s just say), then all the retirees that are living off Social Security would get absolutely nothing in the deal. That’s because, as I outlined in a discussion on the specifics…
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Putting Retirement Saving On Hold
In an ideal world, you would have enough money to fund both your retirement and everything else in your life. However, in reality, you often have to make decisions because your income rarely, if ever, satisfies every single need you have. For a lot of working Americans, the decision sometimes comes down to something you…
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Will Retiring Baby Boomers Tank the Stock Market?
That’s the question that’s been on the minds of many lately, ever since Kathleen Casey-Kirschling, the first baby boomer; became eligible for Social Security earlier this year. The idea behind the question is that when retiree Baby Boomers begin withdrawing funds from their retirement accounts, the funds will begin selling assets to pay out the…
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How To Become A Millionaire By 65
That’s right, follow the simple plan outlined by Kiplinger’s Personal Finance and you will be a millionaire by the age of 65 starting with $0 right now… guaranteed or your money back! You’re 25 Now Save $286 a month and you’ll be a millionaire by 65. Contribute to your 401k to get your company match,…
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Today is Jump-Start Your Retirement Planning Day
For two days, today and January 25th, Kiplinger?s Personal Finance and the National Association of Personal Finance Advisors (NAPFA) are offering free phone and email consultations with fee-only financial planners. Ask your burning questions today! I blogged the details at Blueprint for Financial Prosperity and you can read the article “Jump-Start Your Retirement Plan Days:…
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Don’t Mortgage Your Retirement
A recent story in Money on CNN Money is of a school psychologist that jumped into a $600k mortgage on a $77k/year salary; a mortgage that severely hampered her ability to save for retirement. The mortgage, combined with the loss in equity as the value of the home fell, prompted her to stop contributing to…
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Sleep On Important Financial Decisions
Much like the Consumerist’s Confession series, Money magazine has a “Mole” in the financial planning industry and this week his (or her, but the picture is always of a him) advice is to sleep on any important financial decisions recommended by a financial planner. What’s fun about this particular article is that it goes into…