(Today's post was suggested by my daughter, who keeps an eye on Gen Y financial issues...) Shortly after Hallowe'en, MSN put up a scary article about Generation Y needing to save (spoken, of course, in a creepy Dr. Evil voice) two million dollars for retirement. And if that's not frightening enough people, the article also claims … [Read more...] about Do you really need $2M to retire?!?
Archives for 2011
It's been a while since I've discussed the choices of retirement planners and their strengths/weaknesses. If you're new to this blog (or if you've discovered this post through a search engine) then you might want to read about the problems with retirement calculators. They all have problems (no matter how well they work or how user-friendly they … [Read more...] about Retirement planners and calculators (part 1 of 2)
I've researched the state of the art in retirement calculators, and I'm splitting the results into at least two blog posts. For a retirement-calculator geek, I think the best websites are still FIRECalc and FinancialEngines.com. However, all calculators have their flaws and let's face it-- neither one is simple to use. They're both complex in … [Read more...] about USAA on retirement calculators
I had an interesting (and fun!) time at the Mililani Library seminar last night. Thanks for everyone who dropped by, and I hope that you're reading the blog along with the book. Let us know if you have questions! For those who couldn't be there, I'll post about it next week. Today's topic was suggested by our daughter, who's already thinking way … [Read more...] about Five retirement strategies that don’t work
What if 4% is all wrong? By "4%" I mean the method tested by the Trinity Study over a decade ago. It determined a portfolio would survive for 30 years if withdrawals started at 4% of the portfolio's initial value and then were raised each year by the rate of inflation. Skeptics point out that the Trinity Study is based on a narrow slice of U.S. … [Read more...] about Is the 4% withdrawal rate really safe?
Many of us Boomers are caring for aging parents, but nobody seems to talk about it. Maybe we don't like to contemplate the foreshadowing of our own mortality, or maybe society deems it to be selfish complaining. Yet if the subject happens to come up in a Boomer conversation, then everyone has their story. Some of them are happy, a few are sad, and … [Read more...] about Geriatric financial management
Yeah, I know, you're skeptical, especially if you're on active duty. 1001 things?!? I'll bet you can't even come up with 10. Luckily this isn't a retention pitch-- it's a book title. Tara Crooks (co-founder of ArmyWifeNetwork.com and producer of Army Wife Talk Radio) has reached out to military spouses for over six years through the Web and … [Read more...] about Book review: 1001 Things to Love About Military Life
Day 61 of our familyroom renovation. Under the dubious logic of "Might as well...", my spouse and I agreed that it seemed like a good idea to expand beyond the familyroom to add new baseboard moldings in the kitchen, livingroom, and diningroom. This despite those three rooms being already filled with furniture from what used to be our familyroom, … [Read more...] about Protecting military with the SCRA
It's been a while since I've discussed their weaknesses and the options. There are a few updates to existing programs along with a new kid on the block from USAA. Before I start naming programs and websites, though, let's look at the concepts behind the various choices. Maybe by the time we're done with this post you won't trust calculators. Why … [Read more...] about Problems with retirement calculators
I've been a Dr. Stanley fan since "The Millionaire Next Door" in 1996 . He's made an entire career out of studying the lifestyles and buying habits of the rich and the not-so-rich. Thanks to his research, my family has been able to figure out what's important in our lives and what's worth the money. Thanks … [Read more...] about Book review: Stop Acting Rich