Comments on: Six Step Guide to Rebuilding Your Retirement

By: tallguy@yahoo.com

tallguy@yahoo.com — Wed, 31 Dec 2008 00:07:37 +0000

Take a deep breath and ask…how long do I have to go to retirement?…then remember to MAXIMIZE your ONGOING DEPOSITS…now that we are in a Bear Market, nothing wrong with moving it all to a money market and then dollar cost avarage back in…over a 12 ,24 or 36 month period…this puts you in incrementally, and like a see saw, the weight is moving from one side to the other…

By: Julia

Julia — Tue, 30 Dec 2008 14:19:41 +0000

Great advice. I just found your blog from The Digerati Life. I will be back!

By: Dustin McClure

Dustin McClure — Wed, 24 Dec 2008 03:45:20 +0000

I am focusing next year on #1 -

This will be a huge year of investing for me – I am so excited to start – although everyone around me is freaking out.

I guess we all peak at different times – This year is my peak.

Great Post.

By: jim

jim — Mon, 22 Dec 2008 20:33:23 +0000

In addition to Plan B, have a worst case, best case, and average case projections. Too many times people just pick a number, like 9% stock market appreciation, and run with it. You should be using a range…

By: TStrump

TStrump — Sun, 21 Dec 2008 00:44:37 +0000

#5 is a good point.
Management fees are annoying, especially if your mutual fund isn’t doing that well.
2009 is the year of going self-directed for me!

By: marci

marci — Sat, 20 Dec 2008 22:46:30 +0000

Well said. And diversify, diversify, diversifey

I’ll add to #5… Apply this to every area of your life….
Don’t spend money on something you can easily do yourself!
Instead of spending money on getting your lawn cut, room painted,
landscaping done, car washed, convenience foods,laundry mended,etc, do it yourself,
and tuck the money away where it will actually grow over time!

Spending money on something you can easily do yourself makes no sense to
me at all – except in those rare instances where you are totally overwhelmed and
just have to have the help. And if you are that overwhelmed, maybe you should
be looking at your life and priorities a bit more and decluttering your life
My opinion only there

By: Lance Newton

Lance Newton — Sat, 20 Dec 2008 18:03:04 +0000

The majority of Americans are unaware of, or have overlooked their own ability to Self Direct the investments in their retirement accounts through a Self Directed IRA or 401k Plan. While I am not a big fan of the Self Directed IRA LLC because of the high maintenance costs, I think the Self Directed 4o1k is one of the best tools for anyone that is self employed or has a side business to their regular employment.
The principal strengths of these plans include high contribution limits, the ability to invest in asset based, non-traditional investments including real property, Real Estate Notes and Tax Liens and Precious Metals, in addition to traditional Wall Street investments, all under the direct control of the owner of the 401k plan, as trustee for the plan.
Anyone running their own business or who intends to build their own business should look at this option to safely and quickly make up losses or create a nest egg from scratch.

By: Bill M

Bill M — Sat, 20 Dec 2008 14:23:46 +0000

The most important on this list being Item #4. There is just so many horror stories to list. This is the biggest mistake everyone makes. Usually because the company match is in the company stock and they forget to re-allocate every year.