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Asset Allocation
Often financial "experts" make asset allocation difficult to understand. My goal in this series of articles is for you to understand asset allocation thoroughly, in an easy to understand format.Best Retirement Advisors
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What Quality Is Shared By All the Best Retirement Advisors?
Some people will tell you that the best retirement advisors will just tell you what to do and guarantee that you have the retirement income that you need once you no longer have a steady paycheck coming in. Other people will tell you that the best retirement advisors are the ones who seem to always have insider tips on which investments will pay off. Still others will tell you that the best retirement advisors are those who help you to plan for your retirement based on the ways in which they plan for their own. The one thing that is lacking in all of those descriptions of the best retirement advisors though is you. With the first category, you do not get a say in your retirement planning - they tell you what to do and you need to rely on their making the right choices for you. In terms of the second, while it may be true that their investing instincts are always right, it does not seem like a good idea to choose a retirement advisor who seems to have insider tips. And, when you look at the third option, if you were to choose a retirement advisor based on his or her goals, what would happen to your retirement goals? The best retirement advisors will listen to your goals. The best retirement advisors will take the time to understand what you want from your retirement - whether it is to be able to move into an active adult community, to travel often, to help put your grandchildren through college or anything else that you have dreamed of. And, even more importantly, the best retirement advisors will listen to the thoughts and ideas that you have about how to structure your savings and investment plans. But in order to know whether or not you are working with a retirement advisor who will listen to and help you work to achieve your goals, you need to be sure that you have identified your retirement goals. In order to know that you are working with a retirement advisor who will listen to your ideas about your savings and investments and making sure that they will work for you, you need to have a solid understanding of your savings and investment accounts. When you download the free retirement calculator at the bottom of this page, you will be able to take a closer look at your retirement savings as well as the stocks, bonds and mutual funds that you have invested in. You will be able to see how your investments have performed over time and you will be able to look at projections for their performance over the next twenty five years - projections that take into consideration the way in which interest rates and inflation affect the value of those investments. Not only will you be able to look at your current investments, but you will also be able to look at how changes to your investment strategy will affect your accounts in the future. And, once you have had the opportunity to look at your investments more closely, you will be contacted by one of the best retirement advisors in your area: someone who will listen to your thoughts and ideas; someone who will answer any questions that you have. You will be able to take the time to discuss your goals and the ways in which you can reach those goals. You will be able to work with a savings and investment strategy to reach your goals, and with it you will be able to develop a plan that you can put into motion to get you to where you want to be. Why wait any longer for find the best retirement advisor for you? Click the red button below to download the free retirement calculator and take control of your financial future. |
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Do You Know the Answers to These Important Retirement Questions?
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Analysis of the Economics of Early Social Security Withdrawal
Robert J. Phillips
Chief Retirement Consultant
Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.
Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.
The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution
FREE Social Security Calculator:
Find Out Your Breakeven AgeWe developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.
To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.
The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.
