Is it time to retire the 401(k)?

Time magazine online has a humongous – a 5-page description of 401(k) retirement plan – article on the topic of “Why It’s Time to Retire the 401(k)” written by Stephen Gandel dated Friday, Oct. 09, 2009. The author has talked about the plan starting from its inception 30 years ago to the present time. The … Continue Reading »

You could put unused vacation days into your 401(k)

Your vacation or left-over sick days can pay you dividend if your company allows it. It can be any profit-sharing plan for that matter. Let’s hope your company amends its benefit plans to allow it.
“The techniques are available for use with all qualified plans, which include 401(k), Keogh and profit-sharing plans but not IRAs or … Continue Reading »

Ways to stretch your retirement income

Many Americans could see their money dry up before retirement ends. The reason can be shortage of traditional pensions, paltry savings levels and ever-expanding life spans. There are ways to stretch your retirement income.
Most financial gurus agree that you reduce spending by at least 24 percent, according to a 2008 study by Ernst & Young.
You … Continue Reading »

Understand vital parts of the estate planning process

Understanding vital parts of the estate planning process consists of compiling personal information regarding your assets, and advisers. Search for an Estate Plan Organizer (EPO) in your favorite search engine. This will help you assemble and store your personal and financial information. A typical EPO can be used to store, and later amend, key personal … Continue Reading »

Key steps to take before and during retirement

Given the state of this lousy economy, higher unemployment and the market’s recent history, you might be concerned about making your retirement savings last.
There are many steps you can take – both before and during retirement – to help get your retirement savings back on track, from carefully reviewing your expectations to readjusting your investment … Continue Reading »

Revisit your investment portfolio for retirement

Revisit your investment portfolio for your retirement and make sure it provides enough income to maintain your lifestyle, has liquidity in case of an emergency or unexpected setback, and offers long-term growth potential to help offset inflation and build assets for the future.
Such a portfolio includes the following key components:

Guaranteed income sources will help cover … Continue Reading »

At 61, here is my research about Social Security

I never bothered to learn about social security and accordingly my benefits. Now that I am getting closer and closer to retirement, I thought about doing some research. I just turned 61 so I must know. Almost every year, the Social Security Administration send me a letter stating what my benefits would be. It also … Continue Reading »

Tips for tax-advantaged investing for a lifetime

Whether planning for retirement, making an effort to reduce income taxes or maximizing current income, there are many excellent tax-deferred or tax-deductible investment options to consider. There are also many tax advantaged accounts from which your financial adviser can choose, based on your goals. A good financial adviser will work with you to develop … Continue Reading »

How to protect your retirement accounts from predators…

Oops! I meant to say creditors. Sorry for the slip up. You have earned a respectable income all your life. Now you are retired or out of work. In this lousy market, the value of investment in your retirement account is down and perhaps way down. What happens to your company-sponsored retirement accounts that you … Continue Reading »

How much money do you need to retire comfortably?

Searching for some information through my favorite search engine, I came across a statement. “There is no rule of thumb per say how much you need to retire comfortably.” Most financial advisers agree that, perhaps, the first few years of your retirement, your yearly income should be about 80% of your income just before you … Continue Reading »

Retirement must be one of your biggest financial goals

Like the saying goes, when the going gets tough, the tough gets going. When the financial markets get tough, people who save for retirement have to be even tougher.
The market, no doubt, is extremely volatile. You, as an investor, would be tempted to cut back on your saving. Please don’t. If you have stashed away … Continue Reading »

Understand to NOT withdraw from retirement assets before its time

Scores of people lost jobs in recent months, to the tune of 2.6 million in 2008 – the highest level in more than six decades. The total number of unemployed Americans rose by 632,000 to 11.1 million. Hopefully, you are not one of them. You might have a severance package and a few months’ worth … Continue Reading »

Funnel your credit-card rewards into retirement savings

Historically, different credit cards have offered a variety of cash back rewards. For example, Frequent-flier miles, Cash-back rewards, Gas rebates, etc. Now you can funnel your credit-card rewards into retirement savings.
Beginning Wednesday, December 10, 2008, you can apply for Fidelity Investments’ new Retirement Rewards Card at 800-343-3548 or at www.fidelity.com/retirementrewards. After you’ve earned enough points, … Continue Reading »