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Mind Tricks to Help Your Retirement Planning
Tweet Share on Facebook July 29, 2011 CommentWe often develop habits and adopt thought patterns that can work against our plans for retirement. Some of these counter-productive behaviors may impair the growth of our retirement nest egg or obscure our retirement lifestyle goals. Here are a few mind tricks I have used in recent years to overcome bad habits and reorient myself toward positive behaviors that will help me progress toward retirement:
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Scammers Use Religion to Defraud Investors
Tweet Share on Facebook July 28, 2011 Comment (4)Patrick Kiley, the host of the Christian Radio show Follow the Money, has been indicted in a $194 million Ponzi scheme in Minnesota.
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4 Misleading Pieces of Retirement Advice
Tweet Share on Facebook July 27, 2011 Comment (1)Saving for retirement can often seem confusing because everybody seems to have a different strategy for dealing with the problem. While there is really no single correct solution, we also have to deal with widely accepted theories that are not entirely true. It's critical that we double check all the facts before we settle on a retirement plan. Here are four widely accepted, yet misleading pieces of retirement advice.
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Do You Have a Clear Investment Strategy?
Tweet Share on Facebook July 26, 2011 Comment (1)One of the most important parts of taking a cross-country trip is using a road map. Sure, it can be fun to take the back roads and get lost every once in a while. But even when that happens, you usually know exactly where you plan on ending your journey. Retirement investing is similar, only you don’t need to plan on getting lost—the markets will do that for you. Just as a road map can help steer you to your final destination, an investing strategy can help you get your investments back on track if the markets or other forces steer you out of line.
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How to Affordably Retire on the Pacific Coast
Tweet Share on Facebook July 25, 2011 Comment (1)To realize the dream of retiring on the Pacific in California, you'll pay multiple millions for a house on the sand. Even a decent place near the beach with an ocean view can cost upwards of $1 million. But there are plenty of more affordable seaside options.
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How to Beat the Returns of the World’s Greatest Investors
Tweet Share on Facebook July 21, 2011 Comment (1)A recent article in SmartMoney extolled the virtues of the world’s greatest investors. These four money managers who “trounced the market during the crash and recovery” offered tips on what stocks they are buying now. The clear message for readers is they should consider following this advice and loading up on these stocks. Unfortunately, many investors will follow this advice and will probably suffer as a consequence.
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Staying Energetic is Key to a Happy Retirement
Tweet Share on Facebook July 20, 2011 Comment (1)Almost every day, I look at my 16-month-old daughter and wish to have the energy she seems to possess. She constantly runs around the living area, throwing pillows across the room and picking them back up, just so she can throw them in the other direction. She climbs the stairs, comes down, and goes up again laughing the whole time. I will need to rediscover this level of energy and enthusiasm in order to accomplish many of my retirement goals.
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Be Careful Where You Get Your Investment Advice
Tweet Share on Facebook July 19, 2011 CommentWhen it comes to money, it seems like everyone has his or her own best interest at heart. All you have to do is look at a couple of high profile cases like the Bernie Madoff and Allen Stanford scandals, two different hedge fund managers accused of running billion dollar ponzi schemes, to be aware of the risks involved when trusting others with your money. You should be guarded when taking the financial advice of others, whether they are professional investment advisers, the office day trader, or a well-meaning family member.
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18 Questions to Find an Ideal Retirement Spot
Tweet Share on Facebook July 18, 2011 Comment (2)The most important step you can take to make sure you retire in the right place is to understand what you want your new retirement life to look like. You need to identify your preferences and priorities. Also, figure out what you are not willing to give up from your current lifestyle and what would make you miserable in your new one.
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Investing in the Oracle of Omaha Falls Short
Tweet Share on Facebook July 14, 2011 Comment (3)I am a huge fan of Warren Buffett, who justly deserves to be known as the Oracle of Omaha. His company, Berkshire Hathaway, increased its book value by 20.3 percent annually for the past 44 years—an astounding record. In the decade from 2000 to 2010, Berkshire Hathaway stock returned 76 percent. The S&P 500 lost 11.3 percent during the same period.
