When a jetliner flies from London Heathrow to New York JFK, the aircraft doesn’t just arrive at an altitude of 35,000 feet and drop directly onto the runway.
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When a client retires, we split their portfolio into three buckets: Risk Assets, Fixed Income, and Near Cash. We invest the client’s assets such that the Risk Bucket represents 60-70% of their portfolio, invested in faster growing but volatile US and international equities.
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Depending on the specifics of your employer’s 401(k) plan (which you can access anytime by referencing the Summary Plan Description, or SPD), Mega Backdoor Roths via NRATs offer a ton of upside.
Read MoreMega Backdoor Roth strategies have been in the news (not to mention Congress) a lot lately. In Part One, I review what they are, how they work, and how they differ from other retirement account strategies.
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Retirement doesn’t look like it used to — and for good reason. For prior generations, age 65 constituted a threshold between the working world and the leisure world. Once you crossed it, you took your gold watch, your pension, and your savings, and kicked back in some tropical locale.
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Chances are, if you’ve reached a point in your career where your employer has granted you Incentive Stock Options (ISOs) or Restricted Stock Units (RSUs), you’re doing great. Both ISOs and RSUs are reserved for highly valued members of a company, people that organizations really want to retain for a long time. So, first things first, nice work!
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Creating a reliable income stream is complicated when a recession or bear market throws the rules out the window, isn’t it?
With the effects of the COVID-19 shutdowns wreaking havoc on the economy, wouldn’t it be nice to know that your retirement income plan is up-to-date in the face of uncertainty?
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What do landing an aircraft and planning for retirement have in common?
If you set up wrong, the results can be disastrous! Which is why most people don't fly their own planes and instead rely on expert pilots to fly them to safety.
The same reliance on expertise applies to retirement planning.
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At any given time in your life you may find yourself with a sudden windfall. Perhaps you've inherited money or a stock portfolio after a relative passed away. Or maybe you have built a successful business over the years that you were able to sell. So what to do with all that money?
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Question: I am 54-years-old and plan on retiring at the age of 56 from a Federal Government position. I currently have approximately 25% of my total assets in aggressive non-IRA mutual funds. Since I have over half of my total assets in higher risk investments and stocks are at an all-time high currently, should I re-balance my accounts?
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Question: I have just heard that people should forget about retiring until they are 70 years old. Does this only apply to a certain target audience? I am thinking about retiring when I am 60 years old (9 years from now). I have about $2,300,000 in investments split equally between a 401(K) and other investments. My wife and I have always lived well under our means.
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Forget about everything the media is saying about Millennials. The group born between the late 1970s and 1990s is anything but lazy - yes, I am referring to the young people who in many cases are still living at home with mom and dad.
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