Qualified/Retirement

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Retirement is probably the number one thing most older Americans worry about.  The posts in this category are about retirement and qualified planning.  Retirement accounts are often referred to as qualified because that is how they are usually classified by the IRS.

Reviewing, Rebalancing and Reallocating my 401(k)

While I have been meddling with my 401(k) by buying and selling on huge drops and gains, I haven't actually reviewed my 401(k) for a few years!  That is probably way too long, but considering how often I am investing, trading, and generally moving money this is probably a good thing for me.  I am going to start from scratch on this project, and as such, first I will review my choices, then rebalance what I currently have invested and then reallocate my future contributions.  The past growth, and/or decisions I made (which I don't think are wrong) are irrelevant. Reviewing my [...]

By | 2017-02-10T11:03:20+00:00 February 10th, 2017|Qualified/Retirement|4 Comments

Why You Need An Emergency Fund To Save For The Rainy Days

Today’s hard financial reality can change your life in the blink of an eye. Financial crisis can hit on your door in all shapes and sizes taking the form of a job loss, home or car repair, or huge medical bills. Some people choose to liquidate their 401k plan or to borrow from their credit card. However, there is a more effective way to save for the rainy days: setting money aside in an emergency fund. Why is an emergency fund important? Most Americans borrow from their IRA accounts or withdraw money from their 401k funds to handle their financial emergencies. Although [...]

By | 2016-08-11T10:16:35+00:00 August 11th, 2016|Qualified/Retirement|0 Comments

Saving for a Better Future

If you start out with the aim of saving for a better future by retiring at a certain age then you need to be in control of your finances. While it is not a perfect science because of the fluctuations in growth rates you can at least make some assumptions about what you will need to have in place and therefore how you should go about building up your fund. Social Security will of course contribute but you have to be aware that it faces an uncertain future. Estimates suggest without a major influx of money benefits will fall by up to [...]

By | 2015-12-26T14:05:58+00:00 October 27th, 2015|Qualified/Retirement|0 Comments

What Does Average Really Mean When it Comes to Retirement Savings?

Maybe it has to do with the aging population in the US, or maybe it has to do with the fact that I scan personal finance/investment headlines like most people check their email, but it seems to me that there is an obsession with discussing how woefully unprepared the average American is to retire.  A google search of "Average American Retirement Savings" brings up 1,200,000 results and a news search limited to the past month brings up hundreds upon hundreds of results.  Worst part about it? NONE OF THEM MATCH!  Just taking a few very recent examples: 10/22/2014 - US Today Middle-class people [...]

By | 2016-03-07T22:49:45+00:00 April 27th, 2015|Qualified/Retirement|6 Comments

6 Months Later How Has Meddling With my 401(k) Fared

Approximately 6 months ago I came up with a nonscientific plan for my 401(k).  At the time I felt that the market was reaching a high it had to come down from and I should put my contributions into cash rather than my balanced portfolio.  I would then allocate the cash reserves when the market corrected itself or took dips.  If this sounds like marketing timing...it is, and it is not a long term strategy for my 401(k).  Notwithstanding, since I have been doing it and since I always want to hold myself accountable I should share the results. Market Timing with [...]

By | 2014-05-29T23:52:21+00:00 May 30th, 2014|Qualified/Retirement|8 Comments