Posts Tagged ‘retirement plan’

Saving for Retirement

Posted March 15, 2011 by Bernz

There are a lot of numbers that come into play when one starts to think about retirement, and a very important number is how much does one need to save.  As a general rule it is good to assume that you will need roughly 70% of your yearly salary from when you are working in order to live comfortably in retirement.  This is a very conservative estimate though, and depending on what your goals are during retirement – travel, charity work, additional education – you may need to save more than 70%, in some cases substantially more.  It is good to take the time to write down some of the things you would like to accomplish during retirement, so that you can have them in mind when you decide on how much to save.

Taking a good look at your current expenses can be an excellent indicator of what kind of finances you will need during retirement.  Also keep in mind that while certain expenses that you have now will disappear when you retire, they are likely to be offset by new expenses, usually rising health care costs as you grow older.

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Posted in Financial Goals, Retirement Planning, Saving Money | No Comments »

Making the Right 401(k) Choices

Posted February 3, 2009 by Bernz

Knowing which investment choices are right for you in your 401(k) plan has never been easy, but in the current economic environment, it can be downright torturous. Most funds that are available to choose from in your plan are declining in value and producing negative returns. This is also the case of the stock market as a whole. That means that your job is to select investment funds not to make the biggest return but to lose the least amount of money. Preservation of capital is tantamount during this extended recession.

401kMany investors make the unfortunate choice of trying to beat the stock market. However, it has been proven time and time again that, over time, managed funds rarely outperform the stock market as a whole, regardless of how talented and well-compensated the fund manager is. If seasoned experts cannot beat the market, it is highly unlikely that you will be able to. The best many investors can do is to match the performance of the stock market.  How can you choose investments in your 401(k) that will follow the stock market and preserve your retirement funds? Index funds.

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Posted in 401k, Financial Education, Financial Goals, Investing Strategies, IRA, Tax Reduction | No Comments »


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