Retirement Field Guide

Retirement Action Plan

The Retirement Field Guide

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Why Saving In Your 60’s Is So Important - It’s Not the Reason You Think

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When I speak to folks that are in their final stretch leading up to retirement, one topic that often comes up is how much they should be saving.  While the simplest answer is “as much as possible”, I wanted to provide some additional perspective on why saving as much as possible in the homestretch to retirement is so important. It’s not the reason you think. Let’s say that you just… Read More

Emotions & Retirement Planning

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Last week, I had a conversation with a recently retired reader that I thought might be applicable to what many retirees are likely to experience at some point in retirement and wanted to share some insights with regard to how you might approach the issue. Important points from the conversation: Earlier this year during the market pullback, the investor sold his entire equity position and invested the proceeds into bonds… Read More

Perceived Value vs. Actual Value

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There have been studies that show that when people pay more for something, they believe the product is better.  For example, people rate wines better if they are told it is expensive. Based on this study, the wine doesn’t actually have to be better, people just have to believe it’s better and their mind takes over from there.  In the wine example, when the isolated variable is price, people were forced… Read More

Who is going to help your spouse?

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Last week I wrote a post titled “Switching Advisors at Retirement - Things to Consider“.  It didn’t occur to me until after re-reading it that I realized I omitted one of the most important (and overlooked) things you should be looking for in your search.  And that is, “Who is going to help your spouse if something happens to you?” When considering switching advisors, the final decision regarding who to… Read More

Switching Advisors at Retirement - Things to Consider

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As investors close in on retirement, it’s relatively common to consider changing advisors.  I often inquire when meeting a prospective client for the first time as to why they are considering making a change, and the answer usually falls within one of two categories:  (1) They question whether or not their advisor has the expertise necessary to get them through their retirement or  (2) Their advisor is roughly their age… Read More

Should You Wait Until 70 for Social Security?

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There are a lot of misconceptions about when to file for Social Security benefits.  Should you file as soon as possible, at 66 or wait until 70?  The truth is your answer is and should be unique to you.  What your neighbors or even your other family members are doing probably should not be considered in your decision.  My goal in this article isn’t to convince you to wait, but… Read More

Retirees Underestimate the Impact of Longevity & Inflation

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Take a second and think to yourself, how long do you think you will live?  I realize it’s a morose thought, but honestly what age do you think you’ll pass away?  You may consider your current health, your family history or a variety of other factors to make the estimation.  When I ask investors what age they believe they will live to, an overwhelming number of respondents estimate somewhere between… Read More

My Financial Planning Principles

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When choosing a financial advisor, it’s critical that you agree on a common set of beliefs to ensure that proper expectations are set.  Therefore, I felt it would be helpful to make my specific planning and investing principles readily available.  Below you’ll find my Financial Planning Principles.  If you’re interested in my Investment Principles, click here. Financial Planning Principles: In order to be successful financially, you need a plan -… Read More