Retirement

No Retirement Plan and I’m 48 Years Old

photo credit: barbaranixon Q: Joe, I am 48 years old and have not yet made any plans for my retirement.  I realize that I should have started years ago, so I am anxious to begin investing.  My wife and I have a good income ($7000 a month take home pay).  We also have $25,000 in […]

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4 Ways to Avoid a Retirement Identity Crisis

If you think of yourself as “Jim the carpenter” or “Fred the accountant” or “Mary the teacher,” you may be facing an identity crisis when you no longer are performing the vocation you identify with. According to a Consumer Reports National Research Center study, those who struggled with that loss of identity at retirement had […]

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What Keeps You Awake At Night?

A Discovery Health study indicates that 80 percent of respondents do not get enough sleep.  Furthermore, the effects of sleep deprivation are much more profound than feeling a bit drowsy: memory loss, weight fluctuations, a weakened immune system and high blood pressure.  And the number one cause, according to sleep.com web site, is stress. Some […]

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What You Should Know about the new 401(k) Disclosure Laws

The law is now in effect and as a result, you probably noticed more information about your 401(k) coming to your home. Although the legal verbiage mixed with Wall Street talk may be daunting, this is mission-critical information that you have to take time to either wade through yourself or pay to have an adviser […]

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Even in a Down Economy Your 401k Is Still Your Best Friend

It is never fun to watch your nest egg decrease in value. Investments are supposed to grow exponentially over time; that is why you are investing rather than stashing money under your mattress — right? So what should you do when your 401(k) starts to head south? Do you let the emotions take over, or […]

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How Has The Economy Changed You?

A recent article in Money Magazine provided some interesting statistics.  A group of people was asked how they felt the economy would impact their lives.  From questions about children to retirement and family life, the results were interesting to read. 53% of Americans aren’t sure their kids will be better off than they are. How […]

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Think You’re Too Old To Plan For Retirement? Think Again.

My friend Alex, at age 56, has made very little plans for his retirement.  He also believes that he is too old to start.  In a recent conversation with him, I learned: He has very little (if any) retirement investments and is not currently saving any appreciable amount. He will still be making house payments […]

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Should You Pay Off Your Home Before You Retire?

Picture Dave, a 52 year old father of three who plans on working until he can no longer stand to work.  He really hasn’t saved much for retirement and has a mortgage payment of $1,200 with $50,000 left on the mortgage.  He and his wife have approximately $40,000 in savings and investments and he is […]

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Retirement Redefined: 5 Simple Tips You Hadn’t Considered

The traditional view of retirement — working for the same company your entire career and then retiring to draw a lifetime pension — is a thing of the past. Yes, some government workers continue to retire with paid pension plans, but as states and municipalities continue to fight for survival, these pension plans will also […]

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Should a College Student Invest for Retirement?

I recently received a delightful letter from a college student who wanted my advice about investing for retirement. I say delightful because I simply don’t get many money management for college students requests, especially about retirement planning. 

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4 Reasons to Start Your Social Security Early

Most retirees ponder this question: “When should I start taking my Social Security benefits … at age 62? At full retirement age? Somewhere in between?” The conventional response to this question is “Wait as long as you can.” After all, those whose full retirement age is 66 will face a 25% lifetime reduction by starting […]

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How to Have a Good Retirement When Things Are Looking Bad

For many Americans, the prospect of a dream retirement is fading.  However, those very factors which produce so much gloom can actually make retirement better.  Hold that thought as we first examine the bad news about retirement.

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My Answer to Reader: Do the Math and Leave Your 401(k) Alone

A reader recently wrote the following comment on my post 4 Reasons You Should Not Use Your 401k to Pay Off Your Credit Card so I have pasted both the comment and my answer, hoping that you readers will help scrutinize my logic and point out any flaws you may notice.  Obviously, I made some […]

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Reader Asks About Selling Home to Pay Off Debt

Readers sometimes ask for my advice, as in today’s post.  Although the advice I give might be worth what they paid for it, I strive to do my best.   Following is a copy of an actual email (without names), along with my response.  I would love to hear your thoughts on whether this family should […]

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Should You Borrow From Your 401(k)?

Did you know you could actually borrow from your 401(k) or 403(b) and pay it back without penalty?

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Should Christians Use Faith Based Mutual Funds?

According to the Social Investment Forum, socially responsible investing (SRI) makes up over 12% of all U.S. invested funds. SRI mutual funds screen out investments in companies that are harmful to individuals, the community or the environment. With over 250 SRI mutual funds available, it’s easy to see how popular of a choice it is […]

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