1. Securing Your Retirement Against Living Too Long

    A long life is something we all hope to have and generally look forward to. But for some seniors, good health isn’t so much a blessing as it is a curse, because the longer you live in retirement, the further your savings have to stretch. Gone are the days when a senior could rely on his or her defined benefit pension for support through a long, healthy retirement. Now, a senior who saves $400,00…Read More

  2. Fixed Investment Laddering: A Flexible Retirement Strategy

    Often, people think of their savings as one lump sum to be divided up into a few large chunks, like a pie, with the individual slices deposited into multiple types of products. Through this model, you might put 20 percent of your “pie” into stocks, 50 percent into fixed products, and 30 percent into mutual funds. On its own, this process diversifies a saver’s holdings—but is it enough? Aft…Read More

  3. The 7 Costly Mistakes People Make with Their Money (Mistake # 7 – Part Two)

    As mentioned in Part One of this article, while annuities have been around for over a century, there is nevertheless a ton of misinformation about them. In Part One, we explained Annuity Misconceptions #1 - #5. In Part Two, we will explain Misconceptions #6 – #10. Misconception #6: The different types of annuities are confusing. Don’t let all the different types of annuities confuse you. They …Read More

  4. The 7 Costly Mistakes People Make with Their Money (Mistake # 7 – Part One)

    With pension plans going the way of the cattle prod, a retirement plan that includes a predictable stream of income for the rest of our lives is a no-brainer. And there is only ONE financial tool that can accomplish this: The Annuity! Many people react to this by saying, “I keep hearing how I should ‘max out my 401(k) plan, invest in growth mutual funds, buy term life insurance, and invest the…Read More

  5. The 7 Costly Mistakes People Make with Their Money (Mistake #6)

    One day, Farmer Brown was summoned by the big city courthouse for jury duty. Rarely did Farmer Brown ever go to the “big city” and never had he actually driven the confusing one-way streets of downtown where the courthouse was located. Farmer Brown would have to navigate the highways and byways of the big city and worst of all, find a place to park. After several hours of driving, Farmer Brown…Read More

  6. The 7 Costly Mistakes People Make with Their Money (Mistake #5)

    For most Americans, the 401(k) is their most valuable asset for retirement. Illustrated in the graph below is a 401(k) worth $300,000. Assuming we lived in a perfect world (no taxes on the 401(k) when we go to take money out), we’d have all the $300,000 to use and enjoy. Unfortunately, we’ve got to deal with our “progressive” tax system that allows the government to take their fair share f…Read More

  7. The 7 Costly Mistakes People Make with Their Money (Mistake #4)

    While many people have a game plan for “saving and investing” money (it’s called the “accumulation phase” of life), those same folks do not have a game plan for “using and enjoying” it (the “spending phase”). It can happen to any of us: we work and worry ourselves sick about stockpiling more and more hay, and for what? To leave it to someone who’ll probably blow it? There’s n…Read More

  8. The 7 Costly Mistakes People Make with Their Money (Mistake # 3)

    There once lived a farmer, who was well-known in the small community in which he and his wife lived. To the rest of the farming community, the farmer was doing well. But he knew better. He, along with his wife, had spent money they didn’t have, to buy things they really didn’t need, only in an attempt to impress people they didn’t much like anyway. Unless something miraculous happened (and h…Read More

  9. The 7 Costly Mistakes People Make with Their Money (Mistake # 2)

    Mistake #2: Walking by Blind Faith The date: October 9, 2007. The Dow is at an all-time high: 14,164. Frustrated with low CD rates, Joe Lunchbox (who considers himself conservative – a saver) is one unhappy camper. Over the years, ole’ Joe enjoyed decent interest rates from his FDIC bank products, but on this particular day, a chance encounter convinces Joe to change course by closing out his …Read More

  10. The 7 Costly Mistakes People Make with Their Money (Mistake # 1)

    Mistake #1: Paying Taxes on the Same Dollar More than Once It has been said that great mastermind, Albert Einstein, once referred to compound interest as the “eighth wonder of the world.” If that’s true, then obviously ole’ Albert never lived under our nation’s present tax system. You see, in the U.S. of A., we are guided by what the politicians affectionately refer to as a “progressiv…Read More