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Get more Info | Retirement FAQ's | Read more articles Quality free retirement planning & 401k information is hard to come by these days, let alone expert advice on financial topics that can effect your every day lifestyle. The advice in these newsletters is local, its professional, and its usable. |
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... you'll receive targeted daily reports pertaining to the important topics that relate to your early retirement and financial planning needs.
Why you should sign up for your eNewsletter:Whether you are looking into early retirement options, starting to develop your retirement plan, or just looking for retirement planning advice, this newsletter will give you the information you need to have before consulting with a financial planning professional. With your newsletter you will begin to learn about the following topics that affect your retirement and much much more:
- Roth IRAs whether they are a good buy for now or later
- Taking advantage of early retirement offers at work
- Finding the right planning mix to make early retirement a possibility
- The tricks of Retiring at 55
Learn about ways to get ahead of the game, start planning for retirement immediately and get the knowledge you need to be an educated consumer.
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Things You Need to Know Now before you talk to a Financial Planner
Don't forget about inflation!
Before you tee off that retirement plan;consider the effects of inflation over the decades of your "third age." What looks like a significant income at 60 may have decidedly less value at 80.
Say you are retiring next year at age 55, planning for $45,000. If inflation holds a steady 3% pace, you'll need $81,000 per year by the time you're 75. If it rises even one more percentage point to 4%, you could need as much as $100,000.
Three important questions to ask:
1. How much do you expect to have in monthly retirement income?
2. How much in assets will you have accumulated by retirement? These include resources outside your monthly disbursements, like inheritance, profits from selling a house and savings.
3. How much will you spend? The elusive question, of course. Can you have your house paid off, will you be debt free? One rule of thumb is 80% - because many retirees replace standard "work" expenses with more entertainment and travel, they generally need about 80% of their working income to maintain the same standard of living.
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The formula for early retirement is deceptively easy: manage expense + accumulate capital + invest wisely. Of course if we all knew how to do that, who would be working?
For most people, planning for an early retirement involves commitment and smart financial advice.
The commitment is a lifestyle choice like any other. We're a society that demands "instant gratification." We live on credit and spend more freely than we should. Take credit cards for example, some families spend as much as 20% of their after-tax income on debt servicing. If you're not paying off your credit cards in full every month - start planning to do so. Another 20 - 50% of income is spent on day-to-day expenses. Everyone harps on the $5 coffees, but consider all your convenience purchases - frequently eating out, picking up things at the convenience store rather than the less expensive grocery, valet parking, department store shopping. How many of those would you trade for joining the "used to works" years sooner?
Smart financial advice requires careful selection of a planner and partner. Some studies suggest that 85% of investment professionals under perform the market average over time. What's more, most charge commissions and fees up front. Finding someone you can trust is essential.
With 401k's and investments becoming less reliable and company retirement's plans less beneficial, a solid retirement plan is needed now more than ever. Keep in mind, nobody can predict the future, however we can help you prepare...
As a partner in a community network of financial and retirement experts, we personally assist Ohioans like you connect with professionals you can trust. And, we go a step further, giving you the information and resources you need to make the best choices and feel informed and confident in the process. |
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Free consultations with pre-screened to the most stringent standards, we connect you with a professional that is selected specifically to match your needs.
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Financial tips, tricks, guides, and expert advice from local professionals. Learn how to plan for your future and for your financial health.
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Finance: Losing the Right to Sue (Reuters)
Reuters - More and more businesses are
sticking mandatory arbitration clauses into their contracts,
forcing consumers to give up their right to sue if they want to
conduct business, and consumer groups have made the elimination
of these clauses a top priority.
Consumers Tighten Borrowing in August (AP)
AP - Consumers cut back on their borrowing in August by the largest amount since the end of 1990 as confidence in the economy fell and energy prices surged.
Standard Life starts the tidying-up process for proposed demutualisation (FT.com)
FT.com - Standard Life's latest announcement will be seen as a further blow for holders of mortgage endowments and with-profit policies generally but behind it lies a more fundamental concern.
Mortgages Rates Around U.S. Up This Week (AP)
AP - Mortgage rates around the country went up this week, with 30-year mortgages climbing to the highest level since early September.
U.S. 30-, 15-Year Mortgage Rates Rise (Reuters)
Reuters - Interest rates on U.S. 30-year and
15-year mortgages edged higher this week amid signs the economy
is improving, stoking inflation concerns, mortgage finance
company Freddie Mac said on Thursday.
Fannie Mae CEO Criticizes Regulatory Probe (AP)
AP - At turns defiant and emotional, Fannie Mae's top executive denied that the mortgage giant's manipulated its earnings and questioned an investigative report of the company's accounting practices as factually deficient regarding a key allegation.
Ex-Fannie Mae Worker Discusses Harassment (AP)
AP - For accountant Roger Barnes, the final straw came when he was deliberately excluded last fall from Fannie Mae's preparation for a special review by federal regulators.
Fannie Mae Execs, Regulator Square Off (Reuters)
Reuters - Fannie Mae executives and their
regulator squared off on Wednesday, with executives denying any
accounting irregularity and the regulator saying the housing
finance company's management may have to go.
Home Mortgages (AP)
AP - Home Mortgages
Camden defends price in Summit deal (TheDeal.com)
TheDeal.com - The REIT says the $1.9 billion price tag for Summit Properties is justified by the target's portfolio.
House OKs Bill to Shield GIs from Abusive Sales (Reuters)
Reuters - Legislation to protect U.S. soldiers
from predatory life insurance and mutual fund sales on military
bases was approved overwhelmingly on Tuesday by the U.S. House
of Representatives.
Fannie Mae CEO Facing Storm Over Lapses (AP)
AP - Franklin Raines is renowned for his political connections and his instincts for corporate survival. Those skills will be critical as the head of Fannie Mae fights to keep his job following an accounting scandal at the mortgage giant that finances one of every five home loans in America.
Bio Details on Fannie Mae Chairman (AP)
AP - NAME — Franklin Delano Raines.
Choose Natural Resource Funds Carefully (AP)
AP - Predictions that already-lofty oil prices have nowhere to go but up have many investors eying the lucrative energy sector, but the choppy nature of crude's most recent run underscores the volatility of natural resources.
Freddie Mac Announces Changes in Division (AP)
AP - Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others — moves that experts said should tighten the company's internal controls after an accounting scandal.
Freddie Mac Shuts Bond Broker Business (Reuters)
Reuters - Freddie Mac , the No. 2 U.S.
mortgage finance company, said on Monday it will no longer
serve as a broker dealer in the multi-trillion-dollar mortgage
bond market, a move some said is designed to lower risk and
placate regulators.
What Did Fannie Mae's Leader Know? (AP)
AP - Corporate spin can be a powerful thing. Just ask Fannie Mae's investors.
The Non-REIT (Forbes.com)
Forbes.com - Low bond yields make real estate investment trusts look like a great income play. But Michael Winer, manager of the Third Avenue Real Estate Value Fund (assets: $1.3 billion), sees something better for investors: real estate operating companies.
Justice Dept Opens Fannie Mae Probe (Reuters)
Reuters - The Justice Department is
investigating possible accounting fraud at Fannie Mae, bringing
greater government scrutiny to bear on the mortgage finance
company, already facing a parallel inquiry by the SEC, a source
close to the matter said on Thursday.
Justice Dept. Opens Fannie Criminal Probe (Reuters)
Reuters - The Justice Department has opened an
investigation of possible accounting fraud at Fannie Mae, the
Wall Street Journal reported on Thursday, after a federal
regulator said the mortgage giant may have manipulated its
earnings targets.
EPA Names 'Best Commuter' Companies (AP)
AP - Intel Corp., Fannie Mae and Cisco Systems Inc. top a new listing the government plans to offer each year rating companies on the benefits they offer commuting employees.
Fannie Mae Discussed Restatement with SEC (Reuters)
Reuters - Embattled U.S. mortgage finance
giant Fannie Mae on Tuesday said it had discussed the
possibility of an earnings restatement with regulators,
reversing a top executive's comment.
All 50 States Post Personal Income Growth (Reuters)
Reuters - U.S. personal incomes rose 1.5
percent in the second quarter of 2004, the fastest pace of
growth in more than three years, as income gains sped up in 33
states, the Commerce Department said on Tuesday.
Fannie Mae OK's Boost to Capital Reserves (AP)
AP - Mortgage giant Fannie Mae Monday said it has agreed with its regulator to boost its capital reserves and to recalculate some transactions back through 2001.
New Home Sales Jump 9.4 Pct in August (Reuters)
Reuters - U.S. new home sales jumped a
surprising 9.4 percent in August, the fastest acceleration of
sales in almost four years, as a fresh dip in mortgage interest
rates attracted buyers, a government report showed on Monday.
Fannie Mae Said Near Deal on Capital (Reuters)
Reuters - Embattled mortgage finance giant
Fannie Mae was close to a deal with regulators late on
Sunday that would force the company to keep billions of dollars
more in cash on hand while it corrects accounting problems, a
source familiar with the negotiations said.
Students Get Creative to Pay Off Loans (AP)
AP - If you've already used your one-time ticket to consolidate your student loans and you're now stuck with a less than attractive rate, it pays to get creative.
Fannie CEO May Not Withstand Challenge (Reuters)
Reuters - The vaunted political and financial
skills of Fannie Mae Chief Executive Franklin Raines may not be
enough to save him professionally after a scathing regulatory
report last week detailed pervasive accounting lapses at the
mortgage finance company.
Lawsuits Besiege Fannie Mae on Accounting (Reuters)
Reuters - Fannie Mae , under fire from
regulators, is facing a groundswell of lawsuits from
class-action specialists for billions of dollars in stock
losses stemming from the company's faulty accounting.
Snow: Fannie Mae Needs Regulator (Reuters)
Reuters - The latest troubles at Fannie Mae
, the No. 1 U.S. home funding company, show the need for
a truly independent regulator to cover government-sponsored
enterprises, U.S. Treasury Secretary John Snow said on Friday.
Fannie Mae Slides on Accounting Issues (Reuters)
Reuters - Fannie Mae shares fell as much
as 3.5 percent on Friday, bringing losses for the week to about
16 percent, as investors grew wary of potential widespread
accounting problems at the No. 1 U.S. housing finance company.
US August Home Resales Fall 2.7 Percent (Reuters)
Reuters - Resales of U.S. homes fell 2.7
percent in August, decreasing more than expected as mortgage
interest rates picked up in the early summer, a trade
association report showed on Friday.
Some Debt Is OK (The Motley Fool)
The Motley Fool - Not all debt is alike -- and not all debt is bad. It's very reasonable to carry a mortgage, a car loan, etc. You simply need to pay attention to the cost of the debt. If you're carrying revolving debt on a credit card that's charging you 18% per year, you're in a bad situation. If your student loan is costing you 7% per year, that's much less worrisome.
Dentsply Is More Than a Mouthful (The Motley Fool)
The Motley Fool - Investing genius Peter Lynch liked to say that to find "tenbaggers," that is, stocks that will increase in value by 10 times or more, you should start by looking close to home. In his book One Up on Wall Street, he also noted he liked to seek out companies in dull, disagreeable industries because they were often overlooked or shunned, giving individual investors a chance to purchase them at a discount.
Stocks Sink on Oil Prices, Morgan Stanley (Reuters)
Reuters - Stocks fell sharply on Wednesday after
oil prices jumped more than a dollar to over $48 a barrel and
investment bank Morgan Stanley reported a drop in its
quarterly profit.
Surprise! Housing Starts in August Rise (Reuters)
Reuters - U.S. housing starts unexpectedly
rose 0.6 percent in August to their highest level in five
months as low mortgage rates encouraged construction, but
permits fell more than anticipated, a government report showed
on Tuesday.
Housing Starts Rise Unexpectedly (Reuters)
Reuters - U.S. housing starts rose
unexpectedly by 0.6 percent in August to their highest level in
five months as low mortgage rates encouraged residential
construction, but permits fell more than anticipated, a
government report showed on Tuesday.
Pound recovers against the dollar (AFP)
AFP - Sterling stabilised against the dollar in the wake of a series of data showing a slowing in mortgage lending in August -- further evidence that the housing market is cooling as higher interest rates take their toll.
Goldman: Rival bid for Takefuji? (TheDeal.com)
TheDeal.com - A report says Goldman Sachs has made a bid for the Japanese consumer finance giant, challenging Newbridge Capital.
Debt Wish (Forbes.com)
Forbes.com - If it were only so. Web sites are proliferating that promise they can wipe off your credit card debt, your mortgage and even your car loan. And if you're feeling guilty about doing it, they give you plenty of justification: The banking system is a fraud, they say, the Federal Reserve is a sham, and the American dollar is worthless paper.
Retirement Loans: Is the Interest Deductible? (The Motley Fool)
The Motley Fool - As you already know, interest expense isn't deductible simply because it's interest. Any of you who have paid interest on a credit card know that to be the case. In order to be deductible, interest must be defined as deductible in the Internal Revenue Code. For example, interest that you pay on your home is defined as mortgage interest. Interest that you pay on funds used to purchase investment assets would be deductible as investment interest. Interest that you pay on credit cards is completely nondeductible.
BBVA buys Hipotecaria Nacional (TheDeal.com)
TheDeal.com - The deal will give the Spanish bank a 26% share of Mexico's private mortgage market.
Goldman Sachs offers to buy stakes in Japan's Takefuji (AFP)
AFP - US investment banking giant Goldman Sachs has offered to buy stakes in Japan's biggest consumer finance firm Takefuji Corp. for more than 300 billion yen (2.8 billion dollars), a report said.
Goldman Sachs Enters Fray for Takefuji (Reuters)
Reuters - Goldman Sachs Group Inc. is in talks with
the founding family Takefuji Corp., the biggest player in
Japan's $100 billion consumer finance industry, that may result
in the U.S. firm buying about a third of the company for more
than $2.7 billion, a financial source said.
The Finer Points of Finance (The Motley Fool)
The Motley Fool - NS: Most people know that Bankrate (Nasdaq: RATE - News) compiles rates for CDs, home equity loans, credit cards, mortgages, and other popular products. But some may not be aware that the company actually tracks data for over 310 product categories in over 400 markets (both numbers have expanded recently). Can you list a few of the more unusual products that you follow?
BBVA takes another bite of Mexico (TheDeal.com)
TheDeal.com - The Spanish bank will buy Hipotecaria Nacional, a specialized mortgage lender.
Jefferson Pilot Financial CIO Chuck Cornelio: Rigorous ROI (NewsFactor)
NewsFactor - As executive vice president of technology and
insurance services for Jefferson Pilot Financial, Charles C. Cornelio is responsible for I.T., insurance legal, government relations, customer service, claims, licensing, contracting and commissions. Jefferson-Pilot Financial is one of the nation's largest shareholder-owned life insurance companies.
SCH set to buy Abbey as HBOS drops out, EU gives all clear (AFP)
AFP - Spain's Banco Santander Central Hispano (SCH) moved closer to winning control of the British mortgage bank Abbey National after HBOS backed away from a rival bid and European Union regulators gave SCH the green light.
HBOS abandons Abbey takeover ambitions, clears way for SCH (AFP)
AFP - HBOS said it had decided against bidding for the British mortgage bank Abbey National, clearing the way for an agreed offer from Spain's Banco Santander Central Hispano (SCH).
Doubts circle Abbey bidders (TheDeal.com)
TheDeal.com - HBOS and other potential bidders for the British mortgage bank will soon need to put forward their offers.
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