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Retirement Is A Scary Proposition If Youre Without A Plan, And Running Out Of Time
Of the 75 million baby boomers nearing retirement today, many are:
* Debt Ridden
* Severely unprepared for retirement
* Under Funded
* Without a Strategy
This is a very serious problem in a country that we can all remember used to assure most people of a retirement where you are taken care of financially.
We all know that social security alone is not the answer to this problem. Many baby boomers are on the cusp of retirement without the ability to pay their basic living expenses with the money they will have coming in after retirement.
This means most will be looking for jobs to compensate, or they will be looking for extensions of their current jobs past the time they had hoped to retire and enjoy their lives comfortably.
Out of embarrassment, many people answer their friends by saying they wouldn't know what to do with themselves in retirement to justify why they are still working to make ends meet past retirement age.
If you are in the situation above or can picture that situation in the next 10 years, there is something you can do to change that financial prognosis.
First, look at your 401k. Calculate what you could expect at retirement if you could actively manage it up to 8% more in yearly compounded return.
Depending on when retirement is supposed to happen for you, what kind of nest egg does that leave you as opposed to depending on the return you are seeing now?
A very simple but powerful 401k strategy that works with any 401k plan involves two things.
By awareness, I mean tracking the value of your 401k holdings on a weekly basis if possible. With this level of awareness you can easily spot a portfolio decline. If it approaches a predetermined amount (5% to no more than 10% suggested) you should switch into a money market. Or if you are well informed and have the ability to do so, switch into an indexfund that is designed to profit from a decline (a Bear Fund).
The biggest advantage you will gain is NOT letting your account value sink to such dismal levels where a 40%, 50% or greater gain is required just to get back to even.
This alone could significantly increase the size of your 401k over time.
Is this the only strategy that can safely increase your return rate on your 401k?
Not at all. You just need to know what most people won't tell you. I have written a book on the subject called "Scientific Wealth Strategies." You can find it at http://wealthscientist.com
I also have some more retirement strategies and resources located here: http://wwww.retirementinfo4u.com
Whatever your situation is right now, how much time you have left to make a change, and how much you calculate your need to be for a comfortable retirement, you cannot benefit from leaving things as they are.
Only education and strategic investment can net you the returns needed to have a safety net in place so that when you retire, you are not stuck in a constant monthly deficit spending cycle.
That's not what retirement was supposed to be about. And it doesn't have to be that way for you!
Investing - Google News
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Investing & Online Stock & Share Trading: Money & Risk Management - Atkinson Portfolio Planner (1)
This article was originally featured in Daryl Guppy's 'Tutorials in Applied Technical Analysis', voted no 1 trading newsletter in Australia by Shares magazine & no 4 in the world by US Stocks & Commodities magazine and is reprinted here with Daryl's permission.In addition to developing sound technical analysis skills, strong trading psychology coupled with well thought-out money and risk management are also vital key secrets for success when trading or investing in the market.
Playing With Money - And Making More
Ready to start playing with your money? Not interested in complicated businesses or boring bank C.D.
Trading Is Not Rocket Science!
Despite what some people may lead you to believe; day trading, swing trading and trend trading is not anywhere as difficult as they would like you to think. It really boils down to two key components.
A trading system consists of a set of rules for viewing markets and making trades. The advantages of trading systems can be hidden when they become associated with trading platforms involving trade order submission and processing.
How to Analyze the Veracity of Investment Newsletters
When trying to analyze whether a promotional ad for an investment newsletter or a market timing investment trading system is worthy of investigation, the following questions should be asked:Does the strategy have a track record? Without this you are really allowing your emotions to be in play. All of us want to believe that if someone says something it must be true.
Use this Simple Trick its to Buy $100 Bills Direct from your Bank for only $97
Most People just don't understand the power of using their home as a Wealth Creation Tool. How many people do you know who have lived in the same house for 10, 15 or more years and have virtually no mortgage, You know the Type 'House Rich Cash Poor'.
You know all the articles you read about annuities that have extremely high fees? And the ones that people lose a lot of money in? Well, these are better known as variable annuities. yes, they do have some advantages.
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When NOT to Invest
Unfortunately, many investors who are seduced by the lure of easy money try to become "active" investors before they have the skills, the resources, or the appropriate intellectual framework to do so.This is not to say that investing in stocks is extraordinarily difficult .
When Its Too Late to Save for Retirement
You are 55 years old (or somewhere aroundthere) and your company is going to force you toretire at 65. You have $35,000 saved in your401K and that's all.
Buying a Home - Your BIGGEST Investment
This column has often focused on intangible investments like stocks that a young investor might hold in their portfolio. While these are one of the most important components of an investment plan, it is not the dominant one for most young people.
Investing Psychology Today Requires All Traders to Awaken Their Speculator Minds
Stock trading strategies are as rampant today, as they were during the Great Bull Market. Yet, can you truly master the stock market like so many investing books propose?Consider this: When you can't even trust the financial reports of analysts, and the company bean counters that feed them with data, how can you? What's needed are robust, stock trading strategies; the type that enables you to think above the crowd, but not apart from them! The kind of strategies in touch with your speculator mind response!Witness the Enron fiasco.
Pros & Cons of Investing in Bonds
What are Bonds?A bond is a debt security, by which you are lending money to a government, municipality, corporation, federal agency or other entity known as the issuer. In return for investing in the bond, the issuer promises to pay you a specified rate of interest during the life of the bond and to repay the face value of the bond (the principal) when it becomes due.
Planning Starts with the Basics
When developing a plan for your finances, the toughest question often is: "Where do I begin?" Before investing in stocks and bonds or buying life insurance, before implementing any change or making any decisions, you first need to analyze and understand your entire financial picture. Two documents allow you to do just that.
Bankers in Denial
Denial is a ubiquitous psychological defense mechanism. It involves the repression of bad news, unpleasant information, and anxiety-inducing experiences.
What is an Investor Ready Business Plan
A Business Plan, as all good entrepreneurs starting out in life should know is the foundation, or rather a springboard, towards the establishment and growth of a new business. A business plan is an essential tool for companies raising capital - and your business plan needs to be Investor Ready.
Inflation Proof Your Investment Portfolio with ETF's
Even though inflation has been relatively quiet in the U.S.
Beginning Investor - Investment Terms
Over the course of the past two months, readers have brought to my attention that there is a steep learning curve for investment terminology. That's why the focus of this month's Beginning Investor column will be investment terminology.
Super Rules, OK?
Do you rule your superannuation or does it rule you?It's easy to fall for some myths about your super unless you do some clear thinking about who is in charge. Virtually all Australian employees now have a superannuation account, many have several, even more than they know about.
Retirement is Never Urgent Until
If you're like many people, your retirement savings have not been growing consistently over the years. We're not referring to the wild fluctuations in the stock market, but rather the fluctuations in our short-term needs.
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