When you are trying to make a financial plan, or reach a certain financial goal, it is important to have an idea of your financial priorities. After all, without priorities, it is impossible to decide what you should do with your money — not to mention figure out what actions you need to take to [...]
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If you have ever received advice on investing your money, chances are you’ve had the benefits of diversification drilled into your brain. “Diversify and rule” was my college economics professor’s one-line strategy for managing his retirement portfolio. Corny but true. The virtues of diversifying your investments have been borne out by mathematics, finance and plain [...]
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I have credit card debts to pay off, student loans to service, bills to pay and a down payment to save up for. I can’t afford to save for retirement.
Sound familiar? With all these obligations, how the heck are we supposed to start saving for retirement, something that could be decades away?
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Even high income earners are eligible to make a Roth IRA conversion starting in 2010. To sweeten the deal even more, those who elect to make the transfer can spread out the taxes owed in years 2010 and 2011. But how does the roth IRA conversion work? What are the consequences?
Consider This [...]
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If you want to be happy in retirement, having a million dollar nest egg hardly gets you there.
All over, financial planners advise us to have a certain figure in mind when it comes to retirement. “Based on your current salary, you need $1.2 million by 65″, they might say. But yet, as history [...]
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Reading can really open your eyes. In some cases, it can even make you jump off your chair and yell NO WAY.
An article in the recent Money magazine really caught my attention.
…by 58 (when the couple wants to retire), [they] will have $1.7 million…That should get them most of the way, but there are [...]
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Almost every month, I read an article discussing the size of our nest egg needed for a comfortable retirement. Almost every time, I think about my own retirement funds and try to compare it to the guidelines. Yet, every single time, I ask myself:
Is the retirement savings being referred to a post or [...]
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We received my wife’s 401k plans statement yesterday and we felt like financial geniuses. Splashed on the first page of the statement was our mutual fund performances, up 28.14% in the quarter and 18.43% year to date. My instant reaction was of joy, but it quickly faded as questions were bubbling in my [...]
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No matter how careful and diligent you are with your finances, something important will eventually be forgotten. It could be a bill payment, or it could simply be overpaying for an impulse purchase. For me, it was investing for my retirement.
You heard it correctly. I failed to invest in a retirement account [...]
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Especially during the first morning after a long weekend, the alarm clock ranks first in the most hated invention of all time. That irritating buzz signals that yes, the sweet days off the 9-5 are over. There’s no more sleeping in, no more watching TV all day and no more time to look [...]
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You may not need a financial adviser. Not everyone does. And if you don’t trust your adviser, fire her immediately. It’s better to keep looking than to work with someone you don’t feel comfortable with 100% of the time.
If you decide you want to interview new advisers, there are three questions they [...]
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A concerned reader asked me about the stock market and the aging population of baby boomers. Will all these retirees kill stock market performance?
We’ve seen how last year’s market performance had decimated retirement plans, but what is going to happen when they really need that money in the next few years. Should we be [...]
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We haven’t even gotten through this crisis yet, and we have another one on the way? Seriously?
That’s what John Bogle–the founder of Vanguard and the creator of the first index fund–would have us believe. And, distressingly enough, the case he makes is pretty convincing.
Last month, Bogle testified before the House of Representatives about the upcoming [...]
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I love it whenever I hear someone talk about David Bach’s now famous term “the latte factor”. For those that don’t know, the term refers to the idea that many people continually spend on small purchases (like a latte) that add up to a ridiculously large amount over their lifetime.
There are two reasons about [...]
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