Creating Financial Plans

Life Cycles and Market Cycles

How this spring’s market turbulence affects you depends upon how old you are. For people in or near retirement, it is scary – yet there are ways to offset a shrinking stock portfolio. Regardless of your age, look at market dips as opportunities, not threats.

The recent market gyrations remind me of the vaudeville joke about one’s spouse. Q. “How’s the stock market?” A. “Compared to what?”

6 Ways to Save for Retirement

If you’re like most people, you probably haven’t saved enough to retire. Especially if you’re older than 35, it’s time to get serious. So here are six steps to follow.

Some people foolishly think the future will take care of itself. If you own a business, maybe you think your business will provide ample money in your future (maybe it will, maybe it won’t). You might contribute to a retirement-savings plan at work and nurse a vague idea of how much to save. That won’t cut it.

How to Manage Your Wealth

Some think of advisors as purely investment focused. But for many people your advisor should be a wealth manager – someone who can give you guidance on both financial planning and investment issues ranging from topics like estate planning to taxes to insurance to investments.

How to Ride a Bull Market

The market skyrockets; the market plunges. Every day brings new peaks and valleys to the Wall Street casino where your money labors for your future. What kind of market is this and what, if anything, can you do?

Confident About Retirement?

Feel good about your future in retirement? If yes, you join a growing number who think their golden years will indeed be golden. Others aren’t so sure.

The Employee Benefit Research Institute (EBRI) recently published the annual Retirement Confidence Survey. A few highlights:

Key to a Good Plan: Flexibility

Ever go to a financial planning meeting when the subject turns to financial planning software? Often planners give complicated software high grades and believe the resulting plans are precisely accurate. They aren’t; good financial planning never predicts precisely. The key to good planning is having the flexibility to change directions as needed.

Do you expect your doctor can tell you exactly when you’ll die? How can your financial planner describe your finances – and the role those finances will play in your life – 20 years down the road?

Retirement Saving Mistakes

You probably spend time planning your family vacation than preparing for your golden years. As a result, you make basic mistakes in trying to fund your retirement. Here are the top moves I see people make to screw up this crucial saving.

No specific goal. Many people usually say something like, “I want to retire in my 60s.” Fine – but pinpointing the age when you want to retire is not even half the process. Additional key questions:

How Aging Alters Money Needs

Time shifts your personal investment requirements. What you need to do at 25, 50 and 70 are different. Understanding the differing phases of your financial life is vital to getting what you need right for retirement.

How often have you heard this phrase about the financial world: “This time is different”? Whether it was the tech boom of the late 1990s or the housing surge of the last decade, markets shifted. Time always shifts them.

Handling Investing ‘Dangers’

Don’t be scared into making bad investment decisions based on what is in the news. The odds of Crete’s economic woes or Russian advances in Ukraine hurting your financial well-being are tiny.

Scary News? Keep Your Focus

What can you and other investors do about Russia, vanished airliners or whatever tomorrow’s headlines bring? How does the Ukraine crisis affect your providing income for you and your family for the rest of your lives? The answer – in this age of rat-ta-tat information about disasters – fixes your whole mindset about investing.


Subscribe to RSS - Creating Financial Plans