Tips to Manage Spending in Retirement

~~ Tips to Manage Spending in Retirement ~~

ADVISERS put a considerable amount of effort into talking to clients about accumulating a life savings. But advisers and their clients tend to devote less thought to how to spend that money when it’s time.

Some sort of conversation generally happens when clients approach retirement, but it may need to start happening earlier and become much more sophisticated.

“If I have $1 million in my retirement account, how I’m going to distribute it is ninth out of 10 steps,” said David A. Littell, director of the retirement income certified professional program at the American College of Financial Services.

Mr. Littell has actually drawn up a list of 18 risks that people have to consider. These include some you can control — spending too much — and some you can’t, like living longer than expected, needing expensive health care and not being able to work as long before or in retirement as planned.

Read full article at: http://ow.ly/vLwwx

5 Secrets of Investor Happiness

5 Secrets of Investor Happiness ~

Some of you will appreciate this column about the five secrets of investor happiness; many of you won’t. You’ll say it’s elementary, or unrealistic, or hackneyed — or worse. Say whatever you want. Read it or don’t. Save it or trash it.

I don’t care. And with those three words, you have the first secret of investor happiness.

“Happy investor” is not an oxymoron. Contented investors don’t care what anyone else thinks, except perhaps as motivation to do the opposite. Have a sense of where you are and a plan to get to where you want to go, and don’t let ego block the path.

“The pursuit of money is not going to take you to happiness,” said James Altucher, a stock trader and financial commentator. His pugilistic Altucher Confidential blog — part gonzo, part Gandhi — deals with psychology, human nature, and the uses and abuses of money.

Read full article at: http://ow.ly/iKuUZ

Tips to Manage Spending in Retirement

~~ Tips to Manage Spending in Retirement ~~

ADVISERS put a considerable amount of effort into talking to clients about accumulating a life savings. But advisers and their clients tend to devote less thought to how to spend that money when it’s time.

Some sort of conversation generally happens when clients approach retirement, but it may need to start happening earlier and become much more sophisticated.

“If I have $1 million in my retirement account, how I’m going to distribute it is ninth out of 10 steps,” said David A. Littell, director of the retirement income certified professional program at the American College of Financial Services.

Mr. Littell has actually drawn up a list of 18 risks that people have to consider. These include some you can control — spending too much — and some you can’t, like living longer than expected, needing expensive health care and not being able to work as long before or in retirement as planned.

Read full article at: http://ow.ly/vLwwx

 

Navigating the Logistics of Death Ahead of Time

~~  Navigating the Logistics of Death Ahead of Time  ~~

Abby Schneiderman, then a 32-year-old mother and entrepreneur, was getting ready to celebrate her daughter’s first birthday when she received the news: Her older brother had been killed in a head-on collision while driving through East Hampton, N.Y., with his family.

Suddenly, her fledgling business — Everplans, a website that helps people create detailed end-of-life plans — took on greater meaning. “In the middle of building this site to help all of these hypothetical people that might die someday, my family experienced a tragedy,” she said. “My brother was 51 and had all of the resources to have a plan in place. But my family was still left with a huge amount of logistics and complicated decisions that we had to make.”

Read full article at: http://ow.ly/vjirY