Financial Planning During Mid-Life Career Change: The Devil Is In The Details
Last year, I wrote about the importance of a contemporary and modern approach to financial planning that is very applicable for mid-life professionals who are in the midst of career change.Whether they have been impacted by job loss, transitioning toward new career pursuits, and/or considering leaving the working world altogether, [...]
Sequence Risk: Preparing to Retire in a Down Market
"You can't time the market" is an old maxim, but you also might say, "You can't always time retirement." Market losses on the front end of retirement could have an outsize effect on the income you receive from your portfolio by reducing the assets available to pursue growth when the [...]
There is No Free Lunch…Until You Find One
Most people have heard the often used quote, “There is no free lunch”. The unknown origins of the phrase began almost a century ago; however, it only began to be commonly used during the 1960s and 1970s when the Nobel Prize winning economist Milton Friedman used the term in his [...]
Is Now a Good Time to Consider a Roth IRA Conversion?
This year has been challenging on many fronts, but one financial opportunity may have emerged from the economic turbulence. If you've been thinking about converting your traditional IRA to a Roth, now might be an appropriate time to do so. IRA Conversion Basics Roth IRAs offer tax-free income in [...]
Will Your Investments Swim with and Survive the Changing Tides?
Many of us have heard or seen the stories from people we know. A former colleague had plans to retire but could not do so because a significant position in the stock of his employer unexpectedly took a large tumble and may not recover. Or, you may have heard about [...]
Is Inflation as Violent as a Mugger?
Let’s face it – the subject of economics is not on most people’s “top ten” list of favorite things to read about. And the area of the economics field I am writing about today – inflation and why you should think about it during mid- life career transition or retirement [...]
Longevity May Not Be Your Top Priority, But Planning for a Long Life Should Be
Is a long life overrated? How important is it for you to live to age 90 or even 100? My guess, based on various surveys I have read on the subject, is that these goals may not be important. It seems that many of us attach more significance to the [...]
Financial Planning Is Dead; Long Live Financial Planning!
Is financial planning dead or much less relevant than in the past? I do not think so, but the question is actually fair given many changes that have occurred in the world during the past several years. Traditional methods used to make personal financial decisions and plan for the future [...]
Beware Conventional Thinking When Planning for Retirement
As you navigate your journey through mid life job loss or career transition, there are undoubtedly many topics and concerns that are on your mind. My recent articles have discussed these matters, including your feelings about your career goals and whether you want to keep working! One of the key [...]
The Myth of Financial Optimality
Most of us understand that striving for perfection, whether it relates to our careers, health, or relationships or in any part of life, can be useful, even if most of us know that “perfect” is often an unrealistic standard. For people with high aspirations, the idea of trying to attain [...]