When people think of retirement, it brings up different thoughts for different people. Some think of leaving work behind and others think of doing more meaningful and heartfelt work where the money is less of a concern. One of the factors that we all have to face is what sources of income we will have […]
Archive | Retirement Planing
The 7 Types of Savings Accounts You Need
A recent USA Today article states that more than 25% of Americans don’t have at least $1,000 in savings and 67% have less than the recommended 6 months of expenses saved. The message is loud and clear that Americans are struggling to save. It really takes a renewed mindset that says you want more peace in […]
Your 401k’s Dirty Little Secrets
If you have a 401k, I commend you for taking steps towards your retirement but it’s important that you have a understanding of the downsides of a 401k plan. First, I will talk about the upsides: 1. If your employer is matching your 401k, that is huge. It’s basically free money and I say collect […]
Nearly Half of Americans are Not Saving for Retirement
According to this Yahoo! Finance article which quotes a LIMRA survey, almost half of those living in the US are not saving for retirement. This is a scary statistic for several reasons: 1. Social Security may not be around for ever. We have heard it for years and I am pretty confident the day will […]
Buy Term & Invest the Difference?
Perhaps you’ve heard this old saying as it relates to life insurance. The idea behind it was that someone could buy term life insurance for much lower monthly payments that permanent life insurance and invest the difference the payments elsewhere. In reality this doesn’t work for two reasons. First, buying term life insurance is simply […]
Retirement Planning – Are You On Track?
Yesterday I had a chat with a friend who helps people with retirement planning strategies. We chatted about where I was in live, when I planned on retiring and how I was doing with my retirement planning. I have to say it was an eye opening conversation. I knew that I had taken some serious […]