If you are an employee and your employer has established a 401k plan, it is a mistake to not participate and not contribute as much as possible. When you put your money investing in a 401k, you wish to get your money’s deserving for your investment. Your main goal is by the time your retirement come so that you can retire comfortably. (more…)
Another old adage says that we should learn from the mistakes of others. When it comes to retirement planning, there are many legal, tax, and retirement saving mistakes you can make as a business owner, retirement plan trustee, or plan participant. (more…)
Retirement plans come in all shapes and sizes, but most plans fall into a few broad types. The following is a list of the major categories. I discuss the individual plans in detail later in the book.
A defined benefit plan is a retirement arrangement in which your employer guarantees the benefit. (more…)
The last ten to fifteen years have been financially very good for most of us. With a little effort and a lot of market tailwind, our retirement accounts have grown at an amazing rate. With annual stock returns as high as 20% or more, most of us who have private retirement investment accounts (401K, IRA, etc.) were feeling pretty good. In most areas of the U.S. real estate values spiraled up and up. The combination made many of us who owned homes and stock/bond investments paper millionaires. Then along comes 2008. Our stock investment portfolio values dropped 35-40% and our once fat equity position in real estate rapidly shrunk. Your retirement account doesn’t look so secure anymore. (more…)
Whether planning ahead for your college savings plan, for your retirement investment, or as an investment held in your IRA, having tropical hardwood trees grown for you, for harvest, for profit, may be a perfect solution.
Bloomberg Wealth Manager says that investing in trees grown for harvest is “. . . a source of almost assured growth in tumultuous times” and Smart Money Magazine writes that “. . . timber is a near perfect asset” and that ” . . . real prices for timber have steadily risen for more than 100 years . . ..” (more…)
Previous rules about retirement planning are no longer effective in today’s environment. The increasing cost of healthcare, longer life expectancy and the economic downturn are factors that force retirees to seen better growth in their portfolio. Meanwhile, there is also the pressure that drastic market drops won’t completely destroy their nest egg. There are an increasing number of financial planners who are rethinking their old strategies. Below are the four new practices to look into: (more…)
If you want to have a lot of money when you retire then it is important that you start early. To retire rich you need to have a plan of action so you know exactly how much you need to invests to reach your goals. Many people get involved in their 401(k) plan and they do not worry about making any other investments. (more…)