My Comments: These words were spoken at least 30 years ago by Dr. Alan Loy McGinnis at a meeting of the Million Dollar Round Table, an organization representing the elite among life insurance salesman across the country. Whenever I feel the need for a mental boost, I re-read his observations about life and how to …
Tag: Retirement planning
How To Build A Mutual Fund Portfolio For Income
My Comments: Virtually all of us in retirement need an income. If we continue to work part time, that’s active income. If we rely wholly on Social Security, qualified retirement accounts, or other accumulated assets, that’s considered passive income. Most of us are no longer working for money and instead money is working for us. …
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I’ll be 65 soon, have $320,000 in retirement savings and a paid-off home but I’m $46,000 in debt – should I take more money out of my investments?
My Comments: I suspect this question posed to an online site is more common than not. Too many Americans these days have too little money saved and aging is catching up with them if it hasn’t already. The article referenced below attempts to provide an intelligent answer, and for the most part it does. However …
How to Spend Your Nest Egg ~ Probability vs. Safety First
Your Balance Sheet Your household has a balance sheet. As you may recall from accounting courses you took along the way, a balance sheet has the assets listed on the left with liabilities listed on the right. That balance sheet for someone approaching or already in retirement might look like this: Assets: Human Capital …
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Revocable trust vs. will: A guide to estate planning
My Comments: Over the years I’ve had many opportunities to help people plan how they want their money to both serve them during retirement and where it should go, or be used when or if, they become goofy and ultimately die. This is a little long, but a good read for any of you wondering …
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Millions of older workers are nearing retirement with nothing saved
My Comments: As a financial professional working with local clients over the past 45+ years, there is a sub-title which substitute for the title given. It would read “Millions of retired folks are in retirement with not enough money”. Too often, with no new money coming in, the lessons to be learned to fix the …
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It’s Not Too Late to Save for Retirement: Five Ways to Step It Up
My Comments: For some of us, saving up for retirement is history. If there’s not enough money, you can perhaps generate some income, but beyond that, worrying about money is likely with you for the rest of your life. This blog post is about the use of time and steps to take before it runs …
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The Retirement Life – The First of Many Steps
I’m sure you’re already aware the markets are very uncertain these days. For most of us, they’re down significantly for the year. For every pundit who says there’s a lot more downside to expect, there’s a pundit telling us we’ve essentially hit the bottom and the upside looks like a return to normal. After …
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Reasons to Convert Traditional Retirement Accounts to a Roth IRA
My Comments: By the time they arrived on the scene, I felt there wasn’t enough time left for me to grow a meaningful amount in the few years I had left to work. So, I never opened a Roth IRA. I wish I had but it didn’t happen. I now have many clients with Roth …
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27 Ugly Truths About Retirement
My Comments: Everyone with plans to retire needs to read this. It’s long, and perhaps has many thoughts you don’t want to deal with. As someone already retired, there are truths here that I’ve discovered we didn’t plan for and are paying the price today. Don’t be like me… by Alaina Tweddale \ 12 JUN …
Helping Define Your Financial Future 