Posts tagged as:

Retirement

Big Slide in 401(k)s Spurs Calls for Change

February 5, 2009

Many of you requested this Wall Street Journal article from the webinars this week.

Here is the link.

http://online.wsj.com/article/SB123137714796462913.html

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Will you have enough money to retire?

January 13, 2009

Whether everyone will have enough money to retire is a question that looms large today for 80 million Americans — the Baby Boomers born between 1946 and 1964.

The crisis?  Most Boomers will not have enough accumulated for retirement to meet their needs, let alone their wants.

The problem? The average Baby Boomer has less than $50,000 accumulated for retirement (which means many have less than that), primarily due to bad habits and having money invested in the wrong places where economic downturns can diminish their next egg.

The solution?  Social Security isn’t the answer.  Taking ownership is the answer — through asset optimization and equity management with proper financial planning.

Doug Andrew

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Happy New Year! Top 5 Financial Tips for 2009!

January 1, 2009

Happy 2009! Let’s steer this big financial ship around! Here are 5 financial tips for this New Year…

#5: GET OUT OF DEBT: There are many ways to rid yourself of the shackles of debt.  Always go after your high interest debts first. Go after bad debts first such as credit cards, store cards and high interest auto loans. Attack low interest debts last such as student loans or low interest auto loans. Beware of what you thought might be “bad debts” such as your home. We view homes as assets not liabilities find out why in Missed Fortune 101.

#4: BEWARE OF THE DAMAGE TAXES CAN DO: True your retirement accounts can look good after time but just remember that 50% of that account is not yours, it’s Uncle Sam’s. So retirement is still years away! Why not do the sensible thing and look for a retirement vehicle with little or no tax liability?

#3: IS YOUR INVESTMENT EARNING A RATE OF RETURN?: How many of your accounts are worth what they were this time last year? A new client to our firm came to us after losing more than 70% of his previous retirement account. Why did he contact us? Because none of our clients have lost a dime in their current retirement accounts

#2: HOW SAFE IS YOUR INVESTMENT?: With banks closing their doors or well known financial guru’s being exposed as conmen you need to ask yourself “How safe is my money?” Why not put your money where is will be safe today and when you need it years later?

#1: CAN YOU ACCESS YOUR MONEY IF YOU NEED IT?: Today access to liquid cash is now more important than ever! Many headlines in the news today of people losing their homes or business closing for good can be pointed at one major issue they have all ignored; LIQUIDITY! Can you access your money in your retirement accounts in case of an emergency or to prevent you from losing your home?

So let’s leave the bad financial memories of 2008 behind us! Make 2009 a year of fiscal responsibility and fiscal success!

Happy New Year!

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Government Fiscal Responsibility

November 25, 2008

David Walker our nation’s top “accountant,” the Controller General of the United States, gives an alarming prognostication of the economic peril of our country – he uses the “b” word – that’s right, Bankruptcy.

Listen to David Walker and some of his concerns on this You Tube Video

After hearing Walker’s blunt assessment of our government fiscal irresponsibility – spending more than we have at an unsuitable rate – a couple of questions come to mind. Am I, or anyone that I care about, counting on government sponsored retirement and benefit programs like Social Security or Medicare, or are we preparing as though our financial futures are dependent upon us alone? Secondly, have I learned my spending and saving habits from the worst example of all – yes I’m talking about your uncle, Uncle Sam?

A few principally sound take always to consider, of which none are incredibly revolutionary or hard to grasp:

· Live below your means – save more money than you spend
· Create a private retirement strategy
· Keep your money in a house of bricks, meaning, don’t leave it in houses of straw or wood

DL

“The Economist”

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