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31 articles by Bill Losey · showing 31

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By Bill LoseyRecently published1 topic

***How Long Will My Portfolio Last?

Question: If one has a properly diversified investment portfolio, what percentage do you feel is safe to plan on withdrawing annually so that my account value never decreases? Susan, New Jersey Answer: Susan, as long as you limit your withdrawals to the amount of interest, dividends and capital gains generated, you won’t have to touch your principal and the value of your account won’t decrease. For example, let’s assume you have a $400,000 account value and by the end of the year your balance has increased to $425,000.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published3 topics

How Long Will It Take To Double Your Money?

Question: I just inherited $50,000. If I put it in a bank CD, how many years will it take before it’s worth $100,000? Answer: 14.4 years – assuming your interest rate is 5%. In the financial planning world there is something called the “Rule of 72”. It’s a very simple way to compute and ...

Primary topic: Retirement and Retirement Planning
Retirement and Retirement PlanningInvestingPersonal Finance
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By Bill LoseyRecently published1 topic

*** The Phased Retirement Alte ative

Question: I’m turning 60 next year. While I don’t want to continue working full-time anymore, I don’t have the desire (or nest egg) to retire completely. What do you suggest? Doris, PA Answer: Doris, how about a phased retirement? Instead of working 40 hours per week, talk with your employer about a reduced workload with a corresponding pay cut. The result could be just the answer you’re looking for. Phased retirement is a new phrase being tossed around corporate America in recent years.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Retirement Resolutions for Your 20's, 30's & 40's

Question: In a recent post you had strategies for strengthening your retirement picture for people in their 50’s and 60’s. What about those of us in our 20’s to 40’s? Maxine, Tenafly, NJ Answer: Maxine, I didn’t mean to leave you and the other youngsters out. Here’s a checklist to get you on track in 2010 as well! 1. If you haven't started already, open an IRA and/or fund a 401k.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

*** Protecting Your IRA Before Retirement

Question: This stock market is nuts! How am I supposed to protect my IRA from losing money when I’ve only got three years until I retire? Joan, NY Answer: Joan, as I mentioned in my last post, a few years before retiring you should begin to accumulate an amount of money that's equivalent to 2-5 years worth of cash withdrawals (based upon your expected income needs).

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Understanding Annuities

Question: I’m trying to decide if an annuity is right for me but I’m confused by all the different types. Can you explain the differences? Geraldine, NJ Answer: Sure Geraldine. An annuity is a contract between you and an insurance company. Your money grows tax-deferred inside an annuity ...

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***5 Retirement Planning Blunders

Retiring from ones employment can be a stressful time but it doesn’t have to be. Realize that it’s natural to be nervous, anxious and/or confused when you’re going through a major life change. Your decision to retire is causing you to step outside your comfort zone and is forcing you to make many new decisions and learn new things. Most importantly, remember that you only get one shot at retirement and you don’t want to make any mistakes. So here are some of the more common mistakes people make when retiring and how you can avoid them. 1.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Your Stock Market Correction Protection Plan

Question: This stock market is nuts! How am I supposed to protect my IRA and 401k from losing money when I’ve only got three years until I retire? Bonnie, Ohio Answer: A few years before retiring, if possible, you should begin to accumulate an amount of money that's equivalent to 2-5 years worth of cash withdrawals (based upon your expected income needs). This systematic accumulation of cash is done on purpose so that you have a "safe-money" source to pull from when the balance of your investment portfolio and the stock and bond markets may be declining in value.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Saving for Retirement on a Budget

Question: As a self-employed empty nester, what advice can you give to starting our retirement nest egg at this late date? My husband and I are both in our early 50’s. We would like something simple that we can contribute small ($50) amounts to at a time. Joy, PA Answer: Joy, I did some digging for you but the challenge was in finding mutual fund families that have low minimums or no minimum investments required that can accommodate beginning investors.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Obamacare - Separating Facts From Myths

Confusing doesn’t even begin to describe it. Throughout the very long debate over health care reform, a great deal of misinformation (spurred by presumption or misunderstanding) was circulating. Additionally, many changes and alterations to the proposed law were made along the way. At this point, some of the arguments your friends, neighbors or co-workers continue to debate don’t even factor into the legislation signed by President Obama. So what’s the truth behind the Affordable Health Care for America Act? Q: Will I be forced to change insurance? A: No.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Retirement & Your Asset Allocation

Question: I’m getting closer to retiring and everything I read says I should get more defensive in my portfolio. Does this make sense for me? Answer: It depends. How is your portfolio allocated now? Do you own mostly stocks or do you have a lot of money in bonds and CDs? What’s your current asset mix or asset allocation? Do you know what your portfolios expected return is? Can you quantify how much risk you’re taking with your current portfolio? Are you comfortable with the risk?

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published3 topics

Do I Need $1 Million To Retire Comfortably?

Question: Do I need $1 million to retire comfortably? Answer: Imagine a world free of alarm clocks, bosses, long commutes, office politics and limited vacation time. Wouldn’t it be nice to call the shots, spend more time with your family and friends, doing only those things that you’re ...

Primary topic: Retirement and Retirement Planning
Retirement and Retirement PlanningInvestingPersonal Finance
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By Bill LoseyRecently published1 topic

***4 Pre-Retirement Requirements For Investing Your Money

Question: What are some things I should keep in mind if I want to reach the goal of retirement within three years? Thanks in advance for your response. Lorri, MA Answer: Lorri, whether your goal is retirement in 3 years, a new car in 5 years, or college education in eighteen years, in order to reach your goal a savings/investment plan has to have four distinct yet interrelated factors, each of which contributes to the success or failure of your plan. Factor #1: Your contribution amount. How much are you saving every paycheck now?

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

*** Pre-Retirement 401k & Asset Allocation Advice

Question: I plan on retiring in 15 years (at age 60) and currently have 85% of my money in stocks. I’ve been maxing out my 401(K) since I was 21, and in the last year, I have seen some frightening drops in my funds. Should I be making any kind of changes to prevent more losses? Larry, Texas Answer: Larry, you’re the poster child for retirement. Congratulations for maxing out your 401k since your first started work.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***To Roth or Not to Roth?

That is the question being contemplated by millions of American’s and their tax preparers. In case you haven’t heard, beginning January 1, 2010, any investor may convert their traditional IRA to a Roth IRA. Unlike prior years where where there were income limitations, no IRS income limits will apply or stand in the way of the conversion starting in 2010. So why is this a big deal and should you convert?

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***5 Rules to Saving For Retirement

The Automatic Rule Start saving money today. Even if it’s only a buck or two each pay period, savings is a habit you must start and stick with for the rest of your life. To improve your chance of savings success, automate the process. Have money withdrawn automatically from your paycheck or directly from your checking account each month. If you don’t want to think about saving, automation can take care of it for you. The 1% Rule At a minimum save 1% of your earnings each payroll period.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***My 401k Match Got Suspended!

Question: My company recently sent out a memo saying they were going to suspend their matching 401k contributions for the rest of 2009 and maybe 2010 as well. This could dramatically affect my ability to retire. Are they allowed to do this? Christine, New York, NY Answer: Christine, each company has their own 401k plan document which contains its own set of rules that normally allow for the suspension, reduction, increase or termination of matching contributions.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Questioning Work & Retirement

Question: I’m 55 and not really happy with my job any more. I’d like to retire but I’m not sure I have enough money. What should I do? Liz, New York Answer: Liz, realize that you’re not alone. Many baby boomers are tired and burnt, and no longer want to wake up to their alarm clock come Monday morning. Here are a couple of suggestions. Talk with your employer about a phased retirement. For some reason, people think they need to stop working altogether or keep working full-time.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***The 2 Biggest Retirement Misconceptions

We’ve all heard about the “new retirement”, the mix of work and play that many of us assume we will have in our lives one day. We do not expect “retirement” to be all leisure. While this is becoming a cultural assumption among baby boomers, it is interesting to see that certain financial assumptions haven’t really changed with the times.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***5 Retirement Planning Blunders

Retiring from ones job can be a stressful time but it doesn’t have to be. Realize that it’s natural to be nervous, anxious and/or confused when you’re going through a major life change. Your decision to retire is causing you to step outside your comfort zone and is forcing you to make many new decisions and learn new things. Most importantly, remember that you only get one shot at retirement and you don’t want to make any mistakes. So here are some of the more common mistakes people make when retiring and how you can avoid them. 1.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Your Retirement Portfolio: The Potential Of The BRIC Nations

Brazil. Russia. India. China. These four nations have some of the fastest-growing economies on earth and are becoming drivers in the world economy. In the coming decades, they may command as much attention as the U.S., Japan and other “heavy hitters” … or more. The future aside, we know one thing about the BRIC nations and other emerging markets: collectively, stocks in these countries have outperformedU.S.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***What's In Your Retirement Investment Portfolio?

The stock market is unsettled … and perhaps its fluctuations are unsettling you. It’s a stressful time for the economy and Wall Street, and you may be conce ed about your portfolio given what’s going on with oil prices, the real estate market, and rising unemployment figures. It may be a good time to review how your assets are invested. Is your portfolio balanced? A balanced portfolio may help you ride out stock market turbulence.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***6 Steps To Get Out Of Debt

Every day, people draw on money they don’t actually have – via credit cards, payday loans, home equity lines of credit, and even their 401(k)s. Many of them end up making minimum payments on these high-interest loans – a sure way to stay indebted forever. If this is your situation, you may be wondering: how do I get out of debt? Let me give you some ideas. 1) Make a budget. “Where does all the money go?” If you are asking that question, here is where you learn the answer. You might find that you’re spending $80 a month on energy drinks, or $100 a week on lousy movies.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Losey: Tax Alert - Plan to Take Advantage of 2010

Do you see a warning light flashing? Americans with high net worth and high incomes are preparing for the likelihood of higher taxes in 2011 and subsequent years. High earners are almost certainly going to take the hit if the EGTRRA and JGTRRA cuts fade away at the end of 2010. Here’s a summary of what’s happening – and a look at what might happen. There are some developments you will want to remember, and some tax breaks you might very well want to exploit.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

***Retirement Resolutions for Your 50's & 60's

Question: My husband and I (age 62 and 57) want to make some resolutions to sure up our retirement picture in 2010. Any thoughts you could provide would be greatly appreciated. Bea, Stamford, CT Answer: Bea, here’s a checklist to get you on track in 2010! 1. If you haven’t maxed out your 401k/403b contributions at work, you are eligible to take advantage of what is known as the catch-up provision.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

*** 5 Retirement Investing Tips

Each time we have a bad market, the media pundits starts saying “it’s different this time” and we all buy into it. The reality is they’re partly right because the circumstances surrounding each drop are rarely the same. However, I attended a conference and was shown how in each of the last 12 bear markets since the Great Depression, the decline IS actually the same. First, after each decline, the stock markets have always come back and often very dramatically.

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
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By Bill LoseyRecently published1 topic

*** Are the Markets & My 401(k) Heading for Another Freefall?

Dear Bill: I’m 60 years old, divorced, and was forced into early retirement two weeks ago. My 401(k) is still down 25% from its all-time high and I’m real nervous. Now that I don’t have a paycheck and since I won’t become eligible for Social Security for two more years, I have to live on this! How should my account be allocated? What’s an appropriate allocation for someone in my situation? I was also wondering what you think about the possibility of another market freefall?

Primary topic: Retirement and Retirement Planning
Retirement and Retirement Planning
1,501 views2.5/5 (2)
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