This morning I came across an interesting study produced by researchers from The Wharton School, “Working Longer Solves (Almost) Everything: The Correlation Between Employment, Social Engagement and Longevity.”
I’ve always believed that folks who retire should continue to do something productive well into retirement.
Based on my own experiences with retiring clients and family over the years, I’ve long believed continuing some sort of meaningful work into retirement would have a positive impact on retirees’ physical and mental health and longevity. Well, this study confirms that and more!
The study found that working longer produces three primary benefits for older adults:
- Financial security
- Physical health
- Mental health
Continue reading “Benefits of Working Longer”
At the end of last year Congress passed the SECURE Act, which had a pretty significant impact on individual retirement accounts. The one change I want to focus on in this brief letter is the impact of the new law on Required Minimum Distributions (RMDs). Continue reading “SECURE Act: Changes to Required Minimum Distributions (RMDs)”
One of the more important questions I try to answer via the financial planning process is, “How much can I withdraw from my portfolio each year and not run out of money?” Or the inverse of that, which is, “How much do I need to have saved in order to retire and sustain my current lifestyle without running out of money?”
To answer the question specifically for your unique circumstances we would need to prepare custom financial projections, however, there are some general rules of thumb that can serve as a starting point. Continue reading “What is a Safe Portfolio Withdrawal Rate To Ensure Your Money Lasts?”
A couple weeks ago that I was interviewed for a local podcast, which focuses on local business owners and professional leaders. The podcast is now live!
Please forgive the first three minutes’ audio quality and informality. Quality improves at about 3:20. In the first few minutes we were just casually shooting the breeze as audio was getting set up, but then my gracious hosts decided to keep it in the podcast because it was interesting background.
Topics covered include risks facing nearly-/recently-retired folks and how those risks can be addressed, independent advisors vs. commissioned brokers, fees, active vs. passive, types of bonds to consider, stocks vs. bonds, potential returns over next 10 years, bitcoin, Tesla, Apple, steps you can take right now, when should someone hire a professional advisor, how to determine your investment strategy, etc…
There is some great stuff in here. I hope you find it interesting and helpful and share!
Thanks again to Variant Productions for the time and opportunity!