Recently, a client sent us a copy of Suze Orman's “Guide to Retirement” and asked us for our thoughts. Here's what we told them: While I personally don't care for how Suze delivers her advice or opinions, I do tend to agree with most of what she has to say, which is also very similar to Dave Ramsey and I'm sure many others like them. As I skimmed through the article, five thoughts crossed my mind:
Prior to my talk at a recent speaking engagement, I walked around the room, consisting mostly of retirees and pre-retirees, asking everyone what they considered to be their top financial concerns. My unofficial survey results revealed the top two concerns being, not surprisingly, the fear of running out of money and poor or declining health. During my talk, I shared with the group a way to have increased confidence about the long-term outlook of your retirement money using what we call a Nest Egg Stress Test.
Recently, I came across a “Wall Street Journal” article quoting someone from Morningstar, the mutual fund rating service, saying retiring is dangerous now because no one knows what is going to happen in the future. I am pretty sure this has always been the case. No one knows for sure what’s going to happen in the future. So, is retiring now dangerous for you? You really need to look at the question from two aspects.
You probably noticed that when President Trump recently declared a trade war against China, it triggered sharp downturns in the stock market. But what exactly is a trade war and what really is a trade deficit? A trade deficit is a monthly calculation made by government economists. The value of products manufactured in China that are purchased in the U.S. are subtracted from the value of products manufactured in the U.S. that are purchased by Chinese consumers.
Whenever we ask our retired clients “what is the single most important thing to have for an incredible retirement?”, they always say good health. Here are 4 tips to better health in retirement.
People love to give to charity, but there are literally thousands and thousands of charities from which to choose, so how do you make sure your dollars are going to the best possible cause?
Here are 4 tips to make sure your money goes as far as possible with the biggest impact possible:
Tight home budgets and busy work schedules can put a damper on our hopes for an exciting summer. Don’t wallow too long in your despair, people. Give the “no-fun” summer attitude the boot today, because your awesome summer awaits you – and it’s in your control to enjoy no matter what challenges you are facing! Here are eight simple tips on how to plan for, and create, a summer “staycation” for yourself and those you are closest to.
Financial scams often go unreported and can be difficult to prosecute. Here are three common scams and what you can do to avoid them:
One of my core philosophies is giving back to the community. I've tried to make it a point to give back to my profession, my church and my local community. For years, I've served in various capacities at church and have led three or four Financial Peace University programs. When it comes to helping the community, in the past, I've served on a city Board of Trustees pension fund and currently serve on the Board of Trustees of an almost $1 billion foundation connected to our church body.
Now that the new year is underway, and you’ve had a chance to get out from under the resolutions that never quite got off the ground, you’re in the perfect position to step back, re-evaluate and set some new benchmarks to get back on track for 2018. Here are five tips to keep your goals tight: