Compensation Drives (Bad) Behavior-The Fiduciary Rule
While the clear majority of financial advisers are honest and moral individuals, it appears we are set to protect those who are not. The fiduciary rule was set to establish standards that put a client’s retirement interests above those advising them. Keeping the status quo supports a mantle of credibility where none is deserved. My […]
What’s Keeping You From Starting a Business After 50?
If you’re a late-career professional and behind on your retirement savings, there are a lot of ways to make it up. One retirement fix I love to recommend is starting a side business. Surprisingly, a lot of people balk at the idea. They think starting a business after 50 is an impossible option, with all sorts […]
Why Retirement Planning Fails
We’ve all heard the traditional wisdom out there about retirement planning. The 4% rule. Basically, it means you need to have enough money to be able to withdraw 4% of the balance every year during retirement. This traditional wisdom is off for a lot of reasons — for one, it assumes you’re going to run […]
Is Real Estate a Good Retirement Investment?
Just about every financial advisor out there recommends investing real estate for retirement. One survey found that 89% of US investors are interested in putting their money in real estate. I’ve owned many rental properties in the past, which makes me have mixed feelings about this asset class. That said, if you think it’s fun to spot […]
What’s Your Most Valuable Retirement Planning Tool?
What tools do you need to succeed in retirement planning? Savings, smart investments and a 401(K) probably come to mind. These are all great assets, especially if you have years to build them into a big financial safety net. But if you need to build savings fast, I wouldn’t call any of them your most valuable […]
How to Find the Best Financial Advisor
A financial advisor is someone who offers professional advice on how best to save, invest, and grow your money. The best financial advisors aren’t stockbrokers or accountants, but they are specialists who can help you build a financial safety net, if you find the right one. Do you Need a Financial Advisor? It is possible […]
Can You Be a Solo Entrepreneur Over 50?
Going out on your own in business can be scary no matter your age. But when you’re an over 50 entrepreneur, you don’t have too many years to dust yourself off and try again if you fail. That said, starting a business at 50 years old could still be the best retirement plan. Here’s why. […]
Why You Shouldn’t Trust Your Pension Plan
For many, a pension plan seems like a great way to pay for retirement. Unlike a 401K, both you and your employer contribute to a pension. Most companies will pay in between 3 and 10% of your annual salary every year. It’s recommended that your own contributions should round this up to 15% of your […]
Your Retirement Planning Warning
Your retirement planning warning and what to do to avoid disaster. Nicholas Naseem Taleb writes about interesting risks that exist but often aren’t considered. He often argues that things perceived to be risky are in fact safer than those that appear to be safe. Volatility is a favorite topic of his. Taleb notes that […]
What You’re Doing Wrong And The Retirement Fix
You realize you have a complex set of unknowns to tackle when you start thinking about retirement. Have you adjusted to the last bad break? It’s possible another one will hit. It can feel like you are personally under attack and you are. Fortunately, you are not alone. There is a retirement fix. Most corporate executives in […]