Posts Tagged ‘retirement planning’
THE DIESEL®-POWERED PORTFOLIO
An Alternative to Conventional Wisdom on Retirement Withdrawal What was most striking to me when talking to advisors and panelists at a recent conference was the almost doctrinaire use of the 4 percent “safe rate” as a benchmark for retirement withdrawals—a number several studies have enshrined. As thorough as some of those studies were, we…
Read MoreHow Does the SECURE Act Impact Me? Key Provisions Explained
The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in the spring of 2019, but then subsequently stalled in the Senate. The SECURE Act may have the largest impact on retirement planning since the Pension…
Read MoreWhen Does Playing It Safe Become The Risk In Retirement?
by Christopher Young, CFP®, CPWA®, CMFC® Let’s face it, investing is difficult and the influence of human emotion on investing decisions makes it even more so. Even the shrewdest of investors can derail smart decisions by acting upon emotion. By nature, human psychology works against investing principles, as investors tend to overestimate the magnitude of…
Read MoreA New Retirement Paradigm: The Encore Career
By Christopher Young, CFP®, CPWA®, CMFC® Advancements in modern medicine have substantially increased life expectancies, and as a result, people are living longer, healthier lives. Thus, there’s a good chance retirees will spend more time enjoying retirement. However, the definition of what retirement looks like is changing. While most retirees plan to spend their post-work…
Read MoreIs An Independent Living Retirement Community Right For Me?
by Sarah Mouser, CFP®, CTS™, CES™ For many decades, retirement communities have offered older adults, typically age 62 and older, an innovative and independent lifestyle solution that differs from other housing and care options. Often referred to as Continuing Care Retirement Communities (CCRCs), these types of residences can be a wonderful solution for older adults who…
Read MoreDECIDING WHEN TO RETIRE: WHEN TIMING BECOMES CRITICAL
Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you’ll need to estimate not only your anticipated expenses, but also what sources of retirement income you’ll have and how long you’ll need your retirement savings to last. You’ll need to take into account your life expectancy…
Read MoreUNDERSTANDING IRAS
An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you’re contributing to a 401(k) or other plan at work, you should also consider investing in an IRA. WHAT TYPES OF IRAS ARE AVAILABLE? The…
Read MoreWhy A Comprehensive Financial Plan Should Include A Life Coach
By Christopher Young, CFP®, CPWA®, CMFC® One of the most important roles of a financial advisor is helping clients prepare for retirement. Advisors are trained to evaluate a client’s economic situation and develop a strategic plan to best position them to accomplish their goals. However, finances are only one piece of the puzzle. Oftentimes, an investor may…
Read MoreThe Greatest Threat to a Secure Retirement
As you approach retirement you should start to project your budget for the years ahead. You should have a pretty good handle on the income you will receive, as well as your outgoing expenses, such as food, hobbies, travel, etc. You may be starting to calculate your health and medical costs and find yourself getting…
Read MoreIt’s Never Too Early to Plan for Retirement Income
by Steve Cassaday, CFP®, CFS In the world that today’s retirees live in, the probability is high that withdrawals from an investment portfolio will be an essential part of retirement cash flow. Pensions and Social Security are unlikely to be sufficient to meet the needs of most retirees. Unfortunately, there are many variables associated with portfolio…
Read MoreDecision to Retire Isn’t Just About Money
by Steve Cassaday, CFP®, CFS We regularly see clients who undeniably have enough money to retire comfortably but will not do it. After 34 years of helping people ramp up to retirement, I have learned that being ready to retire means having enough money but also, and often more importantly, it means being mentally and psychologically ready. Retirement…
Read MoreReasons Young Americans Won’t Be Ready For Retirement
by Steve Cassaday, CFP®, CFS For most young Americans, financial insecurity, compulsory work after normal retirement age and dependence on government safety nets in later life are very real possibilities. Most young people do not think about their lives 40 years in the future, but proper habits and small incremental behavioral changes around money issues, especially…
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