Personal Finance

Ruin Your Finances After 50? Here’s 5 Sad Ways To Do It…

Should I invest in shares? Should I buy an investment property? Both are right and wrong. Wealth accumulation is not so much about where you put your money but more about your attitude to and emotional relationship with money. As people approach their 50’s and 60’s and retirement looms, they often realize that they don’t have the money they thought...Read More

Thinking Retirement? Here’s Our Top 10 Tip List!

Have a discovery phase Call it an assessment, checkup or discovery, but a key part of planning for retirement is taking an overall look at what’s going on. See where your money is invested, check the performance and scrutinize your contributions. Online tools, such as Bankrate’s best retirement calculator or retirement income calculator...Read More

6 Sure-Fire Ways to Destroy Your Retirement Portfolio

As your retirement date approaches, be careful. Just as you have a “to-do” list to follow as you approach retirement, you have some “don’t dos” to abide by, or you risk upsetting your carefully laid plans. For example, don’t make the mistake of exiting completely from either stocks or bonds. You should be in both...Read More

How To Double Your Social Security Check

The average monthly 2016 Social Security check is $1,341, which is $45.00 per day, or a little over $16,000 per year. Stories abound about how people are not able to live – or only struggle to get by – on their Social Security income in the United States. Even if they can manage to walk the budget tightrope, it’s not much of a retiremen...Read More

9 Common Misconceptions about IRAs

IRAs are complicated retirement vehicles, so it’s not surprising that people get tripped up by them. Blame IRS rules for all the confusion. Some misconceptions are innocuous, while others can lead to serious tax blunders. Don’t feel bad; even financial advisers get tripped up by the intricate rules of IRAs. Figuring out how the accounts...Read More

Pill Poppers

My husband and I would love to travel. It used to be on our “to do” list when we were young and unencumbered. I remember one lovely weekend, early in our marriage, when we simply decided to take a long weekend in San Francisco. You could still do that, in those days. Plane fare was relatively cheap and you didn’t have to plan six months in advance ...Read More

We’re 26 Years “Retired,” No $$ Woes – Here’s How!

When 2016 came to a close, I thought I would look back financially to where we started this adventure, from January of 1991. The chart below shows the ascent of the S&P 500 Index over our 26 years of retirement. On our retirement date of January 14, 1991, the S&P 500 index closed at 312.49. It has recently closed at 2262, making roughly an ...Read More

Create Your Own Financial Sustainability

These days, no matter what the topic, it’s all about sustainability. In regards to financial sustainability, there are 3 legs to the stool. Income, spending and Investments. Income Income is derived from money you make through your job using physical or mental labor or both. Passive income can be created through property rentals, bond interes...Read More

Countdown to Retirement: 1 Year To Go….

No. 1: Plan the transition As life transitions go, retirement ranks way up there among the most challenging, both financially and emotionally. Many decisions carry financial and life-planning implications: Should you sell the house and downsize? Will you have enough money to pursue travel plans and hobbies? How do you want to spend your time? ̶...Read More

IRA Beneficiary Errors That Can Hurt Your Loved Ones

Leaving IRA to “estate” will cost your heirs “George” — name changed to protect the guilty — was in a big hurry when he filled out his IRA beneficiary form, so he wrote ‘estate’ instead of his children’s names and Social Security numbers,” recalls David Born, chartered financial analyst an...Read More

Gambling Your Home’s Equity

Rising home prices are providing many homeowners with a benefit they haven’t seen in years: increased equity in their homes. That’s leading some to seek a higher return on their money by taking the equity and investing it in stocks or other higher-paying investments, according to the Wall Street Journal. Back to the old days Cash-out re...Read More

Reverse Mortgage, HELOC, or Cash-Out Mortgage?

QUESTION: My wife and I are both in our late 60s and retired. While we don’t have an extravagant lifestyle, it’s hard making ends meet, much less to do the things we want to do in retirement. I see all these ads for reverse mortgages and wonder if that’s the best solution or if we’d be better off with either a cash-out conve...Read More

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