Jeff Snell

4 Retirement Myths That You Need To Know

Financial Planning, Retirement

Retirement planning is hard enough, but disinformation will get you sidetracked from your goal. You’ll need to know what’s not true before you start planning. There is a lot of fake news in the retirement saving world. The truth is, President Trump, Wall Street and GOP allies are making retirement planning more difficult. They are torching investor protection rules found in the Dodd-Frank Act and cutting state offerings for small business retirement plans. And that’s just what’s been happening in the firs

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Americans Aren’t Loving Retirement Like They Used To — Here’s Why

Lifestyle, Retirement

Retirement is a time to shake off years of employment and enjoy life, right? That might be the goal, but many Americans aren’t feeling it. Dwindling satisfactionA 2016 Employee Benefit Research Institute (EBRI) study analyzed retirement satisfaction trends between 1998 and 2012. Respondents who said they were “very satisfied” with their retirements dropped by 11.9 percentage points, those “not at all” satisfied increased by 2.6 percentage points, and the middle-of-the-road “moderately satisfied” response saw a gain of 9.2 percentage points.

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Americans Focused on Short-Term Risks When It Comes to Retirement Planning

Behavioral Finance, Financial Planning, Retirement

SAN MATEO, Calif., June 05, 2017 (GLOBE NEWSWIRE) — Americans are almost equally as concerned about short-term market volatility (47 percent) as they are about not achieving their long-term retirement investment goals (53 percent)

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Alleged Jackson Pollock goes to auction June 20

Lifestyle

Jackson Pollock spent nearly all of his youth in Arizona and California. He even left a tiny bit of himself in Phoenix, close to what is now Sky Harbor International Airport.The 20th-century artist, internationally known for abstract, splatter and “drip” paintings, became a sensation in the New York art world starting in the 1940s until his death in 1956. So how is it that one of Pollock’s paintings might have found its way into a Sun City garage?

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Healthy Lifestyle Important to Retirement Planning

Health & Fitness, Lifestyle, Retirement

Retirement has become an active stage of life—one people have positive ideas about. For example, they aspire to stay socially connected, participate in their communities and remain economically active, according to the 2016 Aegon Retirement Readiness Survey.

Globally, the majority (72%) of people associate positive words with retirement, including “leisure” (46%), “freedom” (41%) and “enjoyment” (31%). People ages 65 and older have more positive associations with retirement than do younger people, ages 18 through 24.

The two most widely held retirement aspirations among respondents are traveling (62%) and spending time with friends and family (57%). Twenty-six percent mention some form of paid work as a retirement aspiration.

Achieving retirement aspirations requires more than saving, investing and planning, however; it also depends on staying in good health, the survey report notes.

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Your Money: 3 moves you should make in the 3 years before you retire – Twin Cities

Lifestyle, Retirement

Life’s major milestones — graduations, births, weddings and cross-country moves — all require a certain amount of preparation.Retirement is no different. That’s why we believe it’s important for people to meet with a financial adviser several years before they retire so you can jump right into the retired life once you’re ready.

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Pass On Your Assets Wisely: How To Choose The Right Beneficiaries

Financial Planning, Lifestyle

I’m often asked by clients about who should be named as beneficiaries on their IRAs versus their retirement plans and other assets. This article provides a starting point. I have more detailed information if you wish… just ask. -Jeff

When you pass away, what you leave to your loved ones is important, but so is how you leave those assets. Determining the right assets to leave to different beneficiaries is an absolutely critical part of effective estate planning.

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Making the case for the reverse mortgage as a retirement planning option | Financial Post

Financial Planning, Retirement

I may be in the minority, but I think that considering a reverse mortgage can, in certain instances, be a viable financial planning alternative scenario. -Jeff

It’s a problem — home-owning seniors retiring with reduced income but healthy levels of consumer and mortgage debt — that seems to contain its own solution.The solution: consider the house as an asset like the others and use it as a way of managing your financial affairs, a move that could make for a more carefree retirement.

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5 New Realities of Retirement – US News

Health & Fitness, Lifestyle, Retirement

My experience has been that the happiest and healthiest retirees that I know find ways to stay socially and emotionally engaged in life all around them. For some, working or scheduled volunteering forces them to do this. Worth the read. -Jeff

Our parents were able to retire and collect full Social Security at age 65. Most baby boomers have to wait until 66. People born after 1959 have to wait even longer – until age 67 – before reaching what Social Security defines as “full retirement age.” And while the younger generations can still start collecting Social Security as early as 62, they will suffer a bigger penalty – a 30 percent cut to their full benefit, rather than 20 percent for those eligible under the old 65-year-old rule.

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How Much Income Will You Need For Retirement? | KOB.com

Financial Planning, Retirement

Good article and something that reiterates the point that ‘rules of thumb’ are just not appropriate for everyone. -Jeff

The 80% rule is one of the classic rules of thumb for retirement advice. Financial planners often advise that in order to maintain your current lifestyle in retirement, you should aim to replace 80% of your working income from your retirement resources such as Social Security, investment dividends, and IRA withdrawals.

From that point, you gauge the total amount of money that you need based on when you plan to retire, in other words, how many years you are likely to need income?

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5 worst investment calls of this century

Behavioral Finance, Markets

There’s a reason that I think it’s foolhardy to put too much stock in the predictions of our so-called “experts” in times of duress. Their track record is often (ahem) less than stellar. -Jeff

A lot of people have given some bad advice over the years. Here are the five worst investment calls of the century, according to Howard Gold.

 

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