Are You Part of the Great Retirement Rethink?
October 28, 2011 by MJP
Filed under Retirement Planning
Bloomberg today published yet another article on the sad state of retirement affairs for many baby boomers. The point of the article is that things have changed for our retirement – and they are not going back. The author characterizes this as “the great retirement rethink.”
Prepare Your Retirement Portfolio for Supercommittee Failure
October 27, 2011 by MJP
Filed under Investing for Retirement
It’s portfolio damage control time again. Things are not going well for the Congressional “Supercommittee” that is working on “do or die” deficit reduction ideas. We are less than a month away from their deadline. Based on present information, you should assume that the committee will fail and prepare your portfolio for a significant downturn in the market.
Boomer and Retirement Weekly Reader – Boats Out of Water Edition
October 22, 2011 by MJP
Filed under Boomer Reading
Today was a day of beautiful weather, fun time with two of our boys, yet sad because we pulled all of the boats out of the water for the year. Theoretically we could have waited another few weeks but there would be no guarantee that the weather would cooperate.
A Refresher on Ways to Lose Your Retirement Nest Egg
October 19, 2011 by MJP
Filed under Investing for Retirement
Periodically we all need a refresher course or reminder of spending, saving, and investment strategies that are bad for our retirement plan. It can help to stare such a reminder in the face and then say “whoa, that’s me doing that.” In the past, I’ve been reminded in this way of a need to re-balance and/or reallocate our portfolio to improve its longevity characteristics.
Long-Term Care Options Change Again
October 16, 2011 by MJP
Filed under Long Term Care
What are your plans for long term care? Is it the “I won’t need it so don’t worry about it plan?” That is not a plan, of course, and if you are leaning in that direction (or just sticking your head in the sand), I encourage you to read why I bought long term care insurance and predicting the costs of long term care. That may jolt you back into a state of reality. (Sorry – someone had to do it!)
Boomer and Retirement Weekly Reader – Fall Colors Edition
October 14, 2011 by MJP
Filed under Boomer Reading
It’s been a long time since I rounded up some reading that might interest other baby boomers and those thinking about retirement. It’s not that I’ve stopped reading. (I read many financial planning/retirement planning and retirement living articles every day.) I’ve just overlooked sharing a lot of them with you. This week is different. The spectacular fall colors up here on the Cumberland Plateau have inspired me.
Should You Undo Your 2010 Roth IRA Conversion?
Last year (2010) presented a unique opportunity for even high income earners to convert their traditional IRA or 401(k) account to a Roth IRA. I strongly considered doing that for our IRAs but after running some numbers, I decided against it. Many others pulled the trigger on the conversion. Subsequent economic conditions may have created reasons for some to “undo” their Roth IRA conversion.
You Have Alternatives to Big Banks and their Fees
October 10, 2011 by MJP
Filed under Mortgages, Debt, and Credit
After more than two decades as customers, Mrs. P and I dropped Bank of America completely – including mortgages – in 2010. Even if we hadn’t changed then, BOA’s announcement that it will begin charging a monthly fee for using a debit card would have caused me to dump them now. Citi is moving in the same direction with more fees and all of the other big banks are sure to follow.
Choose and Cherish Your Golden Days
October 8, 2011 by MJP
Filed under Boomer Lifestyle
Don’t be misled by the title. This post is not about our “golden years.” It is about the kind of day I had today. More specifically, it is about the kind of day I chose to have today. I believe we can all choose to have golden days.
Will You Leave Your Children an Inheritance?
October 7, 2011 by MJP
Filed under Retirement Planning
Is the baby boomer generation concerned about leaving an inheritance to their children? A recent article discusses that topic and interviews boomers who have considered the issue themselves. My speculation and belief is that: (a) many boomers won’t have anything to leave, even if they wanted to; and (b) they shouldn’t worry about leaving an inheritance anyway. Personally, I have adopted a hybrid position on this issue.
