Suprisingly, there is no such thing as a “certified retirement advisor” in the US. Because there are several designations, it may be hard to keep them straight so let’s do a little sorting out to help you find a retirement advisor. Most all of these individuals do some sort of financial planning and work with [...]
If you’ve ever been involved in a qualified retirement plan (401k, profit sharing, pension, defined benefit, etc) there has been a retirement plan administrator working behind the scenes. This firm has insured that the plan was in compliance with all federal rules (e.g. ERISA) and maintained all pertient filings with the government and disclosures to you, [...]
Typically, a professional that calls themselves a retirement financial advisor helps you prepare for retirement and may not be much value to you if you are already retired (yes, there are big difference in managing assets and providing advice for someone still working as opposed to an investor now living off their assets). Their clientele [...]
The “baby boomer” generation are those people 45 and 62 years of age (as of 2008). This generation has saved on the average retirement savings of $38,000, excluding pensions, homes, and social security. However, “baby boomers” with qualified retirement plans has an average retirement savings of $88,000. The $88,000 of average retirement savings will generate [...]
At a time when nearly 8,000 Baby Boomers are turning retirement age each day, it does not appear that most Baby Boomers (Born between 1946-1964) are ready to retire. Fidelity’s research reports the following retirement savings statistics:
Boomers have $35,000 in median total household personal retirement savings.
Boomers typically save $2,750 annually for retirement.
Boomers are on track [...]
The attraction of a certificate of deposit (CD) is its higher interest rate over your bank’s regular savings account rate. Also, federal deposit insurance secures it up to $100,000 per institution ($250,000 if an IRA). CD returns today offer new options that seniors who seek short term secure investments should be aware of. CDs can play an [...]
Will planning, trust planning and estate planning is not just for older people. It’s for anyone that wants to avoid heartache for those they love. It’s simply a asset of instructions to distribute property to those who you want to have your property.
If you have a will your property will go to those you want [...]
One of the topics we cover on this blog is estate planning as its unlikely you will spend every last dime before you die. So let’s consider trust planning and how to leave assets to your heirs, just in case there’s some money left over.
I am a big fan of leaving money in trust to [...]
You may hear a lot about retirement planning. Estate planning is an essential part of retirement planning although many people aren’t aware of all that it encompasses. So they put it off until it’s often too late. Many assume that trust and estate planning is for the wealthy. But that’s not so.
Let’s take a look [...]
Whether you do it yourself or hire an asset manager, your choices of financial asset management are several.
Mutual Funds
The favorite choice of American investors for their financial asset management, mutual funds delegate the day to day decisions to a professional management team. But the average fund charges about 2% annually (management fees, plus 12b-1 fees [...]
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