The “replacement rate” is the amount of retirement income you’ll need post-retirement to replace your salaried monthly income. Analysts tend to think that the replacement rate is 80%. They believe that by determining your replacement rate, you can surmise how much you need to save, in order to reach a withdrawal rate that equals 80%…. Read more
Personal Finance
Does Your Relationship with Money Affect Your Relationship with Your Spouse?
In my capacity as a financial adviser, I often see the financial effects of divorce. I meet with couples both before and after divorce and have realized that money is often a major factor in marital disharmony, not necessarily due to the lack of it, but rather due to the way that it’s handled…. Read more
Does Signing a Pre-Nup Mean You Don’t Trust Your Spouse?
While investigating pictures for my newly redesigned web site, I searched photography sites for images that conveyed security, strategy, and trust….all of which are important traits for a financial advisor to have. There were the usual images of handshakes, business meetings, vaults, and golden eggs in nests. Visit my website to see which images I chose…. Read more
Here is a Quick Way to Start Dealing with an Inheritance
Many movies are made about the simple guy who suddenly becomes rich overnight. Very often, like the hero of Brewster’s Millions, he receives a sudden inheritance with strange conditions attached to it, or like in Half a Sixpence, he inherits wealth and his whole life changes…. Read more
The #1 Reason You Should Buy Stocks Now
Grocery shopping may be easier than investing. An empty pantry dictates that now is a good time to buy more food, but how can you know when is a good time to buy stocks? Most people tend to make their investment decisions based on historical performance. But imagine if you always traded that way…. Read more
What Everyone Ought to Know About Getting an Inheritance
Oftentimes, when a person receives a windfall, such as an inheritance, he suddenly discovers many long-lost relatives, and various “old friends” who crawl out of the woodwork after years of silence. All of them come knocking on his door, either asking him for money “because I am in a desperate situation,” or they may tell him about an amazing investment opportunity that is “perfect” for him…. Read more
Is Retirement a Beginning or an Ending?
How do you visualize your retirement? Is it the end of your working career or the beginning of being your own boss? Will you spend your retirement enjoying the fruits of years of hard work, or will you constantly worry about outliving your savings?
If you plan properly, retirement can be a time to look forward to rather than a time of dread…. Read more
Are You Too Healthy to Retire?
In times gone by many people had physically taxing jobs that made retiring mandatory when their body aged and their strength diminished. But in today’s world of office cubicles, often the most physically demanding work that one must do is walk to the water cooler. Therefore, the question being asked in financial planning circles is,… Read more
Four Things to Do After Receiving an Inheritance
Receiving an inheritance is an emotionally wrought event. However, don’t let your emotions get in the way of making fiscally sound decisions.
Some folks expect to receive an inheritance, and they even factor it into their financial plan. If you are reasonably certain that you’ll receive an inheritance in the future,… Read more
Give a Check…and Some Knowledge
The advice to take care of yourself first is not selfish. All too often, I meet with people who have who gifted away their own financial security…all in the name of helping their adult children. Remember, you are not responsible for paying your adult children’s bills.
The right way to gift
The best gifts are those that come with thought behind them…. Read more