We help clients move from the work phase of their life to the retirement phase daily. And while just about everyone worries about “Will I have enough money?” the most important part of the transition takes place in their heads. A retirement mindset is the start of the retirement process and the key to successfully … Read more
A client told me this the other day and I’ve been pondering ever since. I think he’s right, although I suspect that many people who are considering retirement think just the opposite. That is, many pre-retirees think retirement is like endless vacation. Well, it’s not. Vacation is typically a time with no worries and little change. … Read more
The Library of Congress says this is the most watched movie of all time. It was produced in 1939 (the same year “Gone With the Wind” and “Mr. Smith Goes to Washington” were produced). I was recently re-watching Oz with my wife and it occurred to me that Dorothy’s adventures in Oz present some excellent … Read more
There are fewer hot topics in retirement planning than how much you should expect to spend once you retire. On the one hand, you won’t be spending for work-related activities so maybe you will spend less. On the other hand, health care costs will likely rise until you are eligible for Medicare. You may think … Read more
Note: I first wrote this blog post in 2017. None of the words have been changed. Read the post and note the point with this perspective. Warren Buffet, the legendary business owner, said, “Time is your friend. Impulse is your enemy.” He was referring to the value of compound interest and the suggestion to not … Read more
Here are some of the best books on retirement planning: What Color Is Your Parachute for Retirement by Bolles and Nelson How to Retire Happy by Stan Hinden The New Retirement by Cullinane and Fitzgerals Don’t Work Forever by Steve Vernon How to Retire Happy, Wild and Free by Ernie J. Zelinski All of these … Read more
A study by the National Bureau of Economic Research (NBER) examined the reasons that there is a “robust” 2% increase in male mortality immediately after age 62. Women don’t suffer from this phenomenon. The study speculates there are three possible reasons: First, the paper notes that individuals frequently stop working or reduce work levels at this … Read more
We all face risks in our daily lives. These include small but irritating risks like losing a cell phone or a minor car accident. Then there are the big risks like poor health and death too soon. Classic financial planning axioms say there are five ways to deal with a known risk: Prevention, Reduction, Shift … Read more