Managing Your Pension In A 401k World

July 15, 2015

Lately there’s been a lot of criticism of 401k plans in the news and some of it is very valid. A 401k that is poorly designed and/or poorly managed can leave people in a bad place when they want to retire, but traditional pensions aren’t a perfect solution either. Don’t get me wrong. If you have a pension that is a GREAT benefit to have. You just can’t assume that everything will work out as planned. Continue reading “Managing Your Pension In A 401k World”

Lessons From Detroit

December 06, 2013

Recently, a judge allowed the City of Detroit to remain in bankruptcy court which will allow the city to try to find a solution for an $18 billion debt problem. As a part of the solution, the pension benefits for a lot of retirees and current workers may be significantly reduced. The city is in serious financial trouble and without some sort of drastic measures, it might never recover.  Continue reading “Lessons From Detroit”

All Things Come to An End

September 27, 2013

It is with great sadness that I share this story about the end of production for the VW Bus.  I bet you didn’t know they were still being manufactured.  They are, until December 31st, in Brazil.  I will admit to being a huge fan of VWs.  I’ve owned several VW Bugs , a VW Thing, and my brother has owned a VW Bus or two along the way.  Continue reading “All Things Come to An End”

How Much Do You Really Need to Retire?

March 28, 2013

I recently answered a question from a blog reader and received the following message:

“Thanks VERY much! In the past few years, I have paid $500 to two separate financial planners to get this kind of advice, to no avail.  In a few minutes you provided me more useful information than they provided.  They have been helpful telling me how much I CAN invest with them, where, and how much that investment will grow to – but they haven’t, can’t or won’t tell me how much I SHOULD be saving now to get to a recommended savings target – so that I have enough to retire, but also am not unnecessarily saving too much now rather than enjoying it while my family is young, all together (before kids get big and move out) and all healthy (and capable of enjoying it).” Continue reading “How Much Do You Really Need to Retire?”

Don’t Overestimate Your Life Expectancy

November 14, 2012

Longevity risk is the chance of living longer than expected, but what happens when we are expected to live shorter than planned? Most don’t see this as a risk simply because passing away with money on the table does not seem as dangerous as living beyond what’s there, but there may be some things you will want to consider if in fact you ARE expected to live shorter than planned. Continue reading “Don’t Overestimate Your Life Expectancy”

Don’t Underestimate Your Life Expectancy

November 07, 2012

My father-in-law is as tough as nails. For as long as I’ve known him, he has never been afraid to get his hands dirty. Whether it’s working on a tractor, a truck, or just a home maintenance project, he likes to keep himself busy. To show for it, my father-in-law is pushing age 90, and if he keeps it up, he’ll likely live well into his 100’s. Continue reading “Don’t Underestimate Your Life Expectancy”

Protecting Your Retirement From Inflation

October 18, 2012

Are you worried about rising inflation and how it could impact your retirement planning? With the Federal Reserve announcing QE3 (printing more money) and our rising federal debt and entitlement obligations (may need to print more money in the future), you’re not alone. Many economists are warning about the dangers of inflation in our future. Continue reading “Protecting Your Retirement From Inflation”