As one spouse of a married couple, you must choose when you will start collecting Social Security benefits. And when you do–whether you will receive Social Security benefits based on your own earnings or as a spouse’s entitlement based on his or her social security benefits. The ‘entitled spousal’ amount maximizes out at 50% of [...]
Supplemental Retirement Income Idea #1- Are you in pretty good health?
The woman that cleans my home is almost 60. I pay her $140 to clean my home. It takes her about 6 hours. If you did the same one day per week, that’s $560 — more than many retirees need to bridge the gap in [...]
Here are many retirement options to earn money yet few retirees have the required entrepreneurial gumption. Thus, they are at the effect of someone “giving them a retirement job.” Those days are over—there are no retirement jobs yet there are plenty of ways to make money. Here are a few retirement income ideas.
Phone Sales from [...]
Even with the bloom off the rose, investors still have interest in using real estate in IRAs. The interest and use of real estate in IRAs peaked with prices. Even as the real estate market cratered, real estate professionals with sagging commission income pushed IRA real estate (often mistyped or incorrectly searched as IRS real estate) [...]
It’s common to find retirees who are asset rich and cash poor. You may own some of these assets named below that don’t produce much or any income that you can convert to a much larger income stream.
Investment Real Estate
In many parts of the US, investments in rental houses or apartment buildings will yield less [...]
Years ago, I explained to a prospective client that my annual fee to manage her portfolio would be 1% of the portfolio. She replied, “why would I pay that when I don’t pay anything for my mutual funds.” Unfortunately, this public ignorance of what investors pay their retirement advisor is pervasive. In fact, you’d be shocked [...]
This article is retirement help on how you can recover the $150,000 loss in your 401k in the next 6 months (for tactics to employ now, see my post at ). This article is about understanding how and why that $150,000 evaporated and why you will not get it back in the next 6 months [...]
After the dot-com bust, the 10 largest securities firms paid a $1.4 billion fine to the SEC for inappropriately recommending stocks to investors. But the public still had faith and the big firms seemed to be little harmed as to their reputation. In 2008, we have some of those same big financial asset management firms going [...]
Let’s first state three fundamental principles and then add the details.
1. Start retirement with sufficient retirement savings
2. Protect your retirement savings from erosion due to taxes and inflation
3. Never lose money
Start with your desired retirement income and expenses. Then, you can use a retirement income calculator to determine how much retirement savings you will need. [...]
It’s a little crazy but investors with IRA savings want to know “what do I do now that my IRA account has dropped by 40%?” Would the best time to have asked that question have been before you invested the money? To ask what to do now is like asking how to catch the train after it left [...]
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