Retirement Is Around The Corner, Are You Ready?

$50You’ve just turned 50, it’s time to start investing more than $50 per month into your retirement account. Today’s article gives tips for people who are in their 50s who are quickly approaching the lovely age of retirement. Here’s what they had to say, ” Chad Waddoups, vice president of investments and insurance with Mountain America Credit Union, said he has some tips for those entering age 50 and looking toward retirement. Step 1: Maximize your contributions “Once you turn 50, you have the ability by IRS rules to contribute more,” Waddoups said. In a 401K, the annual maximum contribution goes from $18,000 to $24,000. In an IRA, it jumps from $5,500 to $6,500.” To read more, CLICK HERE.

How Much Is Enough?

CalculatorToday’s article discusses your 401(k) and how much you should of your paycheck should be making its way into your 401(k) each month. Here’s what they had to say, “Most employees with a 401(k) understand, on some level, that it would be in their best interest to salt away money for retirement. However, many workers live paycheck to paycheck, relying on every penny of take-home pay. It may seem impossible to invest for the future, but across the board, financial advisors recommend putting away as much as possible, even if it is a tiny amount to begin with.” To read more, CLICK HERE.

Is A Correction In Our Future?

Wall St BullI know several reasons why various parts of the country can’t wait for summer but could the warm weather bring bad news? Today’s article discusses ten reasons why James Kostohryz at JK Market Insights believes we could see a 10%-20% correction in U.S. stocks between now and Summer. Here’s one reason, “Business cycle: The current business cycle is 67-month-old, prompting worries that it is soon to expire and lead to a recession. But given that the U.S. economy is still performing at below potential and the typical signs of imbalances aren’t apparent, the current cycle will remain intact for now. ” To read all of them, CLICK HERE.

Need A Reason To Invest In Foreign Stocks?

European MoneyLooking for a reason to get into foreign stocks? How about four? Although it may not seem like the most obvious investment decision, today’s article makes four good reason why you may want to consider it. Here’s one of the reasons, “The dollar has soared in the currency markets, hurting U.S. holders of foreign investments, because those investments are worth less when converted back into dollars. I have no idea what will happen next to the dollar. But I’m a lot happier investing overseas at today’s exchange rates, with the dollar worth so much more overseas, than at those that prevailed six months ago.” To read more, CLICK HERE.

These People Are Nixing Their Retirement Plans

American retirement plan concept with word cloudAre you a Baby Boomer? Will you retire soon? Or are you part of so many others in your generation who are refusing to hang up their coat? Today’s article discusses how retirement stereotypes are being changed by the new crop of would-be retirees. Here’s what they had to say, ” According to the Employee Benefits Research Institute, in 1991, just 11% of workers expected to retire after age 65. That jumped to 33% last year. Another 10%, like Fraser and Levinson, don’t plan to retire at all. Meanwhile, the percentage of workers who expect to be able to retire before age 65 has dropped dramatically, from 50% in 1991 to just 27% last year.” To read more, CLICK HERE.

Retirement Or Debt, Must You Choose?

SavingsDebtRetirementDo you have credit card debt? Do you have a savings account? Do you put away money for retirement? It can be hard to decide which precious dollars go to which accounts. Today’s article discusses how you can decide, here’s what they said to do, “Getting a snapshot of your net worth will show you the current balance between savings and debt right now, and you’ll be able to measure your progress by it. Don’t feel overwhelmed by whatever number you see — it’s just one point in what will be the long journey of your financial life, and remember that with the right habits, that number will have moved in a positive direction in just six months.” To read more, CLICK HERE.

Are Penny Stocks Worth The Risk?

PennyI don’t know about you but when my mother goes to the casino, she hits the penny slots. I tell her she’s crazy because even if you won big on the penny slots it couldn’t possible be huge money. But she always argues that it’s less risk for her. And what about penny stocks. There’s less risk with those too, right? Today’s article discusses why you should be weary of penny stocks. Here’s what they had to say, “But penny stocks are far more dangerous than buying large, well-established companies. The penny stock universe include shares of failed companies, occasional frauds, and schemes intended to transfer money from the greedy newbie to their motivated, if unsavory, operators. For example, the actual Wolf of Wall Street case involved peddling penny stocks.” To read more, CLICK HERE.

Gloomy Future Ahead?

Wall St BullWhat goes up, must come down. At least that’s what Newton, and Blood, Sweat and Tears said. But are we about to come down from our up? Today’s article discusses what may happen. Here’s what they had to say, “It’s been six years into the bull market, and investors are naturally concerned about how long the good times will roll. Dollar strength and weak global economy have been cited as potential stumbling blocks by market bears in recent months. Regardless, bulls have remained in the driver’s seat.” To read more, CLICK HERE.

Retirement Readiness

Retirement PlanAre you mentally ready to go into retirement? Do you know what it means to be mentally ready for retirement? Today’s article discusses how your financial mentality can affect your readiness for retirement. Here’s what they had to say, “In this era of “self-directed” retirement (no pensions, you make all the investment choices) postponing making a real plan poses a particular risk to future security. Not only are the logistics of planning hard enough—when to collect Social Security, how to budget for expenses, what to do with savings—but the decline in cognition that accompanies normal aging has a measurable negative impact on the ability to make sound financial decisions.” To read more, CLICK HERE.


You’re In For A Rude Awakening If You Think This

Feet On The BeachI thought for sure that retirement was a 30-year vacation on a beach somewhere with my feet stuck in the sand but according to today’s article, that and four other thoughts are common misconceptions. Here’s what they had to say, “Retirement is like a 30-year vacation. A life full of leisure must be great, right? Not really. Too much free time leaves many retirees feeling depressed and unimportant. Studies show that people who keep working after 65 tend to be happier whether or not they do so by choice. Among all, voluntary part-time workers are the happiest…” Hmmm…maybe I need to rethink the whole retiring early thing, CLICK HERE. to read more.