Humorist Dave Barry proposed one possible solution to the retirement crisis:
The key to eliminating retirement uncertainty is to plan carefully, save as much as possible, invest wisely, and then, at age 65, get hit by a bus.”
A rather grim solution, to be sure, although one subscriber to my Bank On Yourself Ezine did write me to explain that his retirement “plan” was to make sure he died on the day he retired.
Just when I thought I’d heard every possible bizarre way to ensure retirement security at a time when most people’s nest-eggs have been scrambled, I got an email that flabbergasted me…
[Read more…] “An alternative to an active retirement?”
I often get asked by subscribers if they should sell some of their investments and put those funds in a Bank On Yourself plan.
Of course, everyone’s situation is different, and I can’t make that call for you.
But I can suggest a few questions to ask yourself, that can help guide you to a decision:
[Read more…] “How financially secure are you? Take the 3 question test…”
Have you noticed that every day it seems we get a new reminder of just how badly Wall Street has failed us? One of the latest reminders is simply astonishing.
Do you know what a “Target Fund” is? This increasingly popular choice for 401(k) plans is a mutual fund billed as a one-stop solution for investors saving for retirement. You put your money in a single fund linked to the year in which you plan to retire, and the fund company does the rest.
The idea is that the company invests your nest-egg more conservatively every year, so that when you’re ready to retire, your money will be there for you.
So how well do you think that strategy worked last year, for investors who pinned their hopes on retiring next year? [Read more…] “Wall Street fails those planning to retire next year…”