What could possibly go wrong with collecting a nice pension? Without an annual inflation adjustment, things are not as rosy as you think. Unlike social security, many pensions suffer reverse compounding of purchasing power over time. Public servants have pensions which are terrific in the short term, but not so much as the decades pass. Pension recipients are comfortably…
October 2018
It’s Monday Again…..When Is My Retirement?
Retirement planning is very important but pales in comparison to the disturbing events currently happening in our country. If we don’t stop hating each other because of religion, race, political affiliation, or ethnicity all of our retirement futures will be bleak. With a heavy heart, here are this week’s links. Here are some signs…
Estate Planning Isn’t Just for Millionaires
Dina here… One of the greatest “gifts” I ever received from my parents did not feel like a gift a first; it was a torturous exercise, truth be told. Involving me in their estate planning would be something that would offer my entire family peace of mind, but not until much later down the road….
The Golden Annuity
Annuities usually benefit sellers more than buyers but not always. Insurance salespeople incessantly tout their benefits. For once, I concur. Introducing Ozzie and Daniel Silna, the former owners of the now defunct ABA basketball team the Spirits of St. Louis. In 1975, the NBA decided to absorb the struggling ABA. The catch was they were…
Retirement Infomercials Are Bad For Your Wealth
Following investment advice from an infomercial might be a form of financial suicide. It’s even worse when your advisor bases your retirement plan on its sponsored content. Tommy Vu set the bar very high with his 1990’s shtick. Before being shut down by the Feds, he became a legend in real estate schemes. His formula…
It’s Monday Again…..When Is My Retirement?
We needlessly worry over low probability events. Shark and terrorist attacks are highly unlikely. On the other hand, retirement is certain unless you plan on dying or working forever. I wouldn’t recommend either. How about using your time in a more productive manner? Start by reading this week’s terrific links. Is your 401(k) leaking? The…
Stay In Your Investing Lane
Last week’s scary market drop provided a valuable lesson for us all. Investing is harder when we swerve out of our lane and into oncoming speculative traffic. Go back to the 1995 film, Clueless. After a driving lesson goes terribly wrong. The valley kids are almost squashed by a tractor-trailer, harassed by a motorcycle gang,…
Compound Knowledge – October’s College Planning Links
The best month to start college planning is every month. Check out October’s terrific links. Our College tip of the month: If you are saving for college expenses, many states offer tax benefits for contributions made to in-state 529 plans. And some, like Arizona, Kansas, Missouri, Montana and Pennsylvania allow for tax benefits for contributions made…
Disclosure is no Substitute for Regulation
Disclosure does not – and will not – protect investors from financial predators. The SEC is working on Regulation Best Interest to replace the Department of Labor’s defunct fiduciary rule. It is a loose interpretation of the Investment Advisers Act of 1940, and is a big bet that hopes to protect investors because the bad guys will disclose their…
It’s Monday Again…..When Is My Retirement?
Markets go up and markets go down. You have no control over this. Focus on things you can influence. Start by reading this week’s links. Parents spend too much on their adult children and not enough saving for retirement. CNBC You are responsible for your own retirement plan. The Belle Curve Most investments and trusts…