The Average …
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The Good (and Bad) News I Shared
Tuesday, November 1st, 2011
It just happened again!
I’ve recently had the opportunity to share some good news with a very nice couple who was referred to us by one of our Relaxing Retirement members.
But, then I had the obligation to share some bad news as well.
Their story is so important that it led me to do some more research that I will be sharing with you in the coming …
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When to Consider vs. Question Annuities Part II
Monday, October 24th, 2011
Previously this month, in an effort to bring some clarity to the many questions I receive concerning annuities, I outlined a few examples where annuities might be appropriate for you.
As promised, here are some examples of situations where I believe the use of an annuity is inappropriate.
Buying a Variable Annuity Inside of Your IRA or Roth IRA
A classic example of a situation I see way …
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Pros and Cons of Annuities
Wednesday, October 5th, 2011
Previously this month, in an effort to answer many of the questions being asked, we sifted through and dissected the basic characteristics of annuities.
This included immediate vs. deferred annuities, fixed vs. variable annuities, and the accumulation and distribution phases of all annuities.
Now that we have this basic understanding, let’s take it a step further and delve into some of the pros and cons of using …
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A Few Words About “Experts”
Tuesday, September 20th, 2011
We can’t help it! We all crave certainty.
During periods of turmoil and volatility (and thus uncertainty), each of us seeks to understand what’s really going on, and how it relates to our well being.
That’s an innate trait among all fully functioning and responsible adults.
It’s actually a built in defense mechanism hardwired in our brains.
The first question to ponder today during this current period of uncertainty …
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Avoiding Probate: This Missing Link
Friday, September 9th, 2011
In my last blog entry, we discussed avoiding the costs and delays of probate, and we concluded that the best method to pass on your assets to your children and other beneficiaries is with the use of a revocable living trust.
However, did you know that the overwhelming majority of individuals who establish living trusts still do not avoid probate?
Why?
Establishing a trust alone does not avoid …
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How Your Family Can Avoid Probate
Monday, August 22nd, 2011
As you wake up and drink your first cup of coffee this morning, I’m fairly certain the first thing that pops into your head to add to today’s “to-do” list is not arranging your affairs so that your estate avoids probate for your heirs.
Interestingly enough, however, when it comes to the questions I receive each week, take a guess what many of your questions relate …
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Landmines When Inheriting Your IRA
Tuesday, August 9th, 2011
Having to deal with the emotional and psychological effects of losing a spouse or parent is always difficult.
Having to also deal with their financial affairs and the tax implications is enough to put you over the edge. The consequences of making a wrong decision are enormous.
Landmines are everywhere, especially when your family inherits your IRA and 401(k).
I’d like to walk you through an example of …
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Recovering What You’re Entitled To
Wednesday, August 3rd, 2011
Earlier this month, we talked about the misery of coming home from vacation to find that your home has been robbed and vandalized.
And, that one of the best ways to insure that you receive everything you’re entitled to under your homeowner’s insurance policy is to hire your own public insurance adjuster.
One of the challenges, however, is that even with the best public insurance adjuster, you’ll …
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A Lesson Learned From an “End of Vacation Nightmare”
Monday, July 18th, 2011
Imagine for a moment that you’re driving home from the airport after one of the most memorable vacations of your life.
The “haze” of being on vacation is beginning to lift.
As you begin to deal with an annoying case of “back to reality blues”, your mind can’t help but begin to plan when you can get back there again.
You turn down your street and pull into …
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What You Must Think About BEFORE Thinking About Long Term Care Insurance
Wednesday, June 29th, 2011
Insurance companies must be doing one heck of a job out there stirring the pot!
I don’t think a week goes by without me receiving a question about long term care insurance.
And, all too often, individuals and couples are beginning at “Point Five” when they really need to take a giant step back to “Point One”.
One of the reasons why they begin at Point Five is …
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Is Your Dental Insurance Really “Insurance”?
Wednesday, June 1st, 2011
In addition to the obvious question about the best health insurance option to choose, one of the questions that comes up while helping a new Relaxing Retirement member transition to retirement is “should we continue our dental insurance from work?”
The answer may seem obvious to you, but I recommend giving it some serious thought to make sure that it is “insurance” you’re buying. After all, …
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What Will You Focus On?
Monday, May 16th, 2011
Assuming today is just an average day in the decade 2011 through 2020, 10,000 Americans will turn age 65.
This is extremely significant right now because 2011 is the year that the first baby boomers (those born in 1946) began celebrating their 65th birthdays. And on average, ten thousand Americans will achieve this milestone each and every day for these next ten years!
There has never been …
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Should You Buy or Rent a Vacation Home? – Part II
Friday, April 29th, 2011
In our previous blog entry, we discussed the pros and cons of buying a vacation home.
This came about because of all the inquiries I receive right around this time of year about purchasing down South or out West.
The big question always centers around buying vs. renting. And, because there are so many factors involved, there is no correct ‘rule of thumb’ answer.
Let’s now weigh the …
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Should You Buy or Rent a Vacation Home? Part I
Friday, April 22nd, 2011
Have you thought about buying a vacation home?
Recently perhaps?
If you have, you’re not alone. Every year, I have dozens of discussions with Relaxing Retirement Coaching Program members about the prospect of buying a vacation home, especially during winters like we just experienced this year when it’s freezing…and snowing…and sleeting up here in New England, and warm down South and out West.
However, buying a second home …
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Rebalancing Guidelines
Thursday, April 7th, 2011
Earlier this month, we introduced Principle and Guideline #4 which is, once you have your investment system in place and your allocation correct, you must objectively evaluate and rebalance your investments (if necessary) on a pre-determined timeframe.
In other words, you can’t leave it up to a whim. Top 6% retirees schedule their dates and “objectively” hold themselves accountable.
The next question is what criteria and guidelines …
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Invest and Spend With Confidence
Friday, March 18th, 2011
Over the last few weeks, we’ve dissected The Relaxing Retirement Equation™, and most recently began to answer the final question which is…
Where do you position your investments to produce the long term rate of return that you need to earn while experiencing less volatility and paying less taxes to the government?
Principle and Guideline #1 was knowing what NOT to invest, i.e. the amount …
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How Fast Do You Need to Go?
Tuesday, March 1st, 2011
As we discussed in a recent article, investing during your retirement years is drastically different than during your ‘working’ years when your spending needs were supported by income from work.
It all starts with knowing the rate of return you must earn in order to have your retirement savings provide the lifestyle you want without running out of money.
Once you’ve calculated the rate of return you …
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The Relaxing Retirement Equation: How Am I Going To Pay For This?
Tuesday, February 22nd, 2011
Previously, we’ve talked about you clearly identifying what your ideal lifestyle costs.
That was the first step in the Relaxing Retirement Equation™.
Now, the next step is figuring out how you’re going to pay for it all without having to depend on the income from work to do it.
And that’s what we’re all after. Finding out that you’ve built up enough money to support your lifestyle without …
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Discover YOUR Number
Thursday, January 27th, 2011
If you’ve done any reading on the topic of retirement, you’re familiar with a term that is used in many circles known as “the number”. In other words, “what’s your number”? What this refers to is the amount of money you need in order to support your lifestyle without working. In many instances, when I meet someone for the first time, one of the things …
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THE Way To Define Retirement
Thursday, January 20th, 2011
Imagine for a moment that you have your grandchild sitting on your lap, and you’re telling stories about when you were younger…when all of a sudden, out of the blue, your grandchild asks, “what’s retirement?” After you get over the shock of hearing that question from your grandchild, and wondering where he or she ever came up with “that one”, stop and think about how …
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