Retirement Planning
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Tuesday, December 4th, 2012Good advice from the Wall Street Journal: Your First Job? Think About Retirement. I know a lot of younger people will say, “Yeah, right…” but time is a precious commodity and the one huge advantage young poeple have when it comes to saving for retirement is time. Read: The Cost of Waiting One Year, which [...]
401(K) Dollar Limit Raised to $17,500 in 2013
Friday, November 2nd, 2012The maximum dollar amount an employee can contribute to their 401(K) is increasing $500 to $17,500 for 2013. Those who are 50 and older can contribute as much as $23,000. Let’s break down $17,500. That’s… $1,453.33 per month. $47.95 per day. $1.9977 per hour (based on 8,760 hours per year). $.0333 per minute. Better get [...]
Should I Pull Money Out of My 401(k) to Pay Off Debt?
Wednesday, October 3rd, 2012This is good but he misses one point. I’m not sure if it’s true of all 401(k) plans but interest on a 401(k) loan usually is paid into the 401(k) account. In other words, the interest is your money. It’s as if you borrowed from the Bank of You. Also, some companies do allow contributions [...]
Retiring on the S&P 500 Index. What do the Numbers Show?
Wednesday, October 3rd, 2012I posted a similar piece the other day but Jack pointed out that it accounted for inflation twice. So, I removed that post and went back and looked at the numbers. The attached PDF is a summary of what I found. It was an interesting study. I’m going to go back and include a fixed [...]
William Bernstein on How Much You Should Have Saved for Retirement
Saturday, September 29th, 2012Interesting interview with William Berstein in MONEY. Tell me what you think of this piece from the article: So how should I be investing near and after retirement? You want to end up with a portfolio that matches your liabilities, meaning the amount you’ll need to spend in retirement. The rule of thumb I came [...]
Interesting Piece on Retirement
Wednesday, July 25th, 2012Seventy-five percent of Americans nearing retirement age in 2010 had less than $30,000 in their retirement accounts. Ouch! That stat came from Our Ridiculous Approach to Retirement Planning by Teresa Ghilarducci, a supposed expert in retirement planning. Not clear what “nearing retirement” means but the number is pretty sad for anyone over 30. Her piece [...]
Barron’s Top 50 Annuities
Saturday, May 26th, 2012Given a dizzying number of features and restrictions, contracts for some annuities — variable and otherwise — can run 300 pages or more. And because each comes with its own small twists, these products can be very difficult to compare. That—and the fact that annuities tend to pay a lot higher commissions than comparable mutual [...]
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