WHAT DO YOU FEAR MORE, RETIREMENT OR DEATH?

The problem is worse today than my parents’ generation because pensions in the private sector have been eliminated. VOLUNTARY 401-K plans have replaced the Majority of companies’ pensions.  The 401-K was designed to mimic a pension’s retirement income.  BUT only if YOU: 1. Start saving EARLY, in your 20’s,  2. Contribute a significant percentage of your compensation to your plan,  3. Work for a company that matches some portion of your ...

Read More

A ROTH IRA WILL IGNITE THE ENGINE FOR YOUR KIDS FINANCIAL FREEDOM

Apple has delivered an average return of 43.5 percent per year for the past ten years. Suppose you or your parents invested $100 per month during those ten years in Apple stock and placed it in a ROTH IRA.  You would have contributed $12,000.00 principal—but more importantly, have accumulated an investment gain of $190,211.00 with a total account value of $202,211.00.    When you reach retirement age (59.5 years), you will owe ZERO dollars in taxes on ...

Read More

SO YOU DECIDED TO GIVE 3/4 OF A $$-MILLION TO A COMPANY WORTH $$-BILLIONS?

IT'S ALL ABOUT THAT MAGICAL 401K SILLY!    A powerful means to grow your wealth is accepting YOUR matching contributions from an employer into YOUR 401K plan. Employer matching 401K contributions means the employer contributes a certain percentage of your compensation to your retirement savings.  Because it is YOUR MONEY/PART OF YOUR COMPENSATION, companies must budget these matching funds.   Approximately 15% of employees decline to open a 401K and hence decline the matching funds.  Those ...

Read More

PANICKING WILL NOT ERADICATE THE CORONAVIRUS PROBLEMS

  Fears of health and economic fallout from the coronavirus outbreak pushed the U. S. Stock Markets into Bear territory (down at least 20%) this week. Of course, we are ALL concerned, but panicking has never fixed any of my problem. {Maybe with the exception of that monster from my childhood closet. It was YUGEEEEE!} PLEASE STOP HOARDING TOILET PAPER {WHY TOILET PAPER?}, SANITIZERS, AND EVERYTHING ELSE!   You can’t find hand ...

Read More

YOUR BIGGEST RISK TODAY – A LONG LIFE!

A large percentage of today’s retirees are facing a “longevity crisis” and outliving their savings. Some of my friends are facing this very real crisis. One spent the bulk of his 401K on his three kids’ college education. Because he loves his children. Two have small pensions and are financially struggling. Another is afraid he cannot afford to retire. When you add in the risk of catastrophe illness, their risk ...

Read More

ONE OF THE WORSE MISTAKES YOU CAN MAKE WITH YOUR 401 – (K) WHEN CHANGING JOBS

ONE OF THE WORSE MISTAKES YOU CAN MAKE WITH YOUR 401- K WHEN CHANGING JOBS Several years ago, a good friend confided she cashed out her 401K and spent the money. At the time I thought an unwise decision. But of course being less diplomatic (hard to believe right) I said something more in the line of: YOU DID #$@% WHAT ?  I was reminded of this story last week, when I ...

Read More

THE ABSOLUTE BEST WEDDING GIFT YOU CAN EVER GIVE YOUR CHILD!

BEST WEDDING PRESENT! This weekend we are attending the wedding of my college best friend, Clifton’s son. The couple will have college loans as the bride is currently in Medical School. As parents, Clifton and I ponder the choice of paying for an expensive wedding versus INVESTING IN YOUR FUTURE. And as two financially conservative men, we advise reducing the wedding size and cost and investing the money. AVERAGE ...

Read More

NOT SURE WHAT TO DO WITH YOUR 401K WHEN RETIRING? SOME OPTIONS

Congratulations on accumulating a YUGEEE portion of your retirement money in a 401-K! As you approach retirement you need to decide what to do with YOUR HARD EARNED MONEY, currently sitting in one or more 401K Plans. This is a nice problem to have!  SOME OPTIONS FOR AFTER RETIREMENT Keep your money in your 401-K Plan(s).Roll into an IRA or a ROTH IRA and convert to Exchange Traded Funds (ETFs), to lower fees.There ...

Read More