Current economic conditions may require some serious future discussions about how we save for retirement. Continue reading COVID Has Exposed Our Retirement Problem
There are many reasons why people retire. There are also many reasons why people continue to work well into what some consider the “retirement years”. If you are one of those people working well into your 60s or 70s–or have decided you want to continue working well into those age ranges–what keeps you motivated to stay in the working world? In recent years, many have said that health and retirement benefits are a big factor for staying employed. For others, it can be the social aspect of the office that keeps them motivated to keep working. Some may have no Continue reading What Keeps You Working?
Wow, 2020 has been a wild ride so far. We started the year off with what seemed like a strong stock market, solid economy, and no fears of COVID-19. That quickly changed less than three months into the year as much of the country came to a standstill after Coronavirus reached our shores. It’s fair to say it’s been a bit of a rough ride since then. It’s also hard to say what the rest of the year will bring. However, 2020 has also brought some big changes to retirement saving and planning. First off, the SECURE Act was signed Continue reading We’re Half Way Through 2020…Can You Handle Another Half?
If you’re thinking seriously about retirement, then most likely you’re a member of the Baby Boomer generation. That means you were born at some point between 1946 and 1964, which currently puts much, if not all of that generation, right in that retirement sweet spot. However, given the havoc the Coronavirus has wreaked on the economy, you might be finding yourself rethinking your retirement plans. The reasons for this rethinking can vary. Maybe your nest egg took a hit in the market swings and you want to build it back up or maybe you lost your job and need a Continue reading The Long Road Ahead for Baby Boomers
People are losing jobs. It’s what happens when the economy takes a turn for the worst. For those over 50, right now can be a downright scary atmosphere. Not only are people losing jobs, but it’s getting harder for those over 50 to get either their old jobs back or a similar job. This was true back after 2009–after the most recent recession–and it’s true now. For many people over 50, especially those over 60, they may just choose to stay jobless after all this is over; they’ll essentially retire. They will effectively be forced into retirement. Now, that doesn’t Continue reading Unemployment Over 55: Early Retirement or Find a Job?
I don’t want to alarm you–I’ll leave that to the news media–but the Coronavirus will change the world we live in. The economic, emotional, and physical toll that this pandemic will have on society and the global economic has the potential to be astounding. It is already changing the way we work and educate and will most likely force us to re-assess your global supply chain and how we as a society can better detect future pandemics. There is going to be a lot of uncertainty in the months ahead, particularly in the markets, and no one knows when or Continue reading The Future is Uncertain, But It Shouldn’t Be Scary
The stock market has been on a downward spiral for almost a week at this point, which has created a lot of worry among even the most amateur of investors. Most reports indicate that the fall is a result of Coronavirus concerns sweeping the globe at the moment, but there may be other factors combined with that. This downward movement–or market correction, depending on who you talk to–has done a serious number on many portfolios and retirement accounts and it’s unclear as to when or how things will recover. While you shouldn’t ignore the market downturn, just remember that you Continue reading How to Handle the Stock Market Today
Diversification is important to your portfolio. It spreads your risk around and prevents a market downturn from completely decimating your portfolio by ensuring that all your money isn’t tied up in one sector or one type of stock. Remember, some areas of the markets will get hit harder than others. I’ve mentioned various ways to diversify–such as investing in unrelated market sectors, investing in companies of various sizes, having different investment vehicles. What I haven’t really talked about is going international as part of your diversification. Having some investments in international companies–or companies based outside the U.S. and Canada–can be Continue reading Giving Your Portfolio International Flair
Whether you want to admit it or not, the Baby Boomer generation is a large demographic. They have a large impact on society as the oldest members of the generation as well into retirement and the youngest are just starting to consider stepping away from the work force. The sheer numbers of the Baby Boomer generation will continue to have an impact on the economy and healthcare for decades to come. Keep in mind that they are living longer than past generations thanks to advances in healthcare and medicine. Why does all this matter? Well, it matters because any large Continue reading The Impact of the Aging Boomer
A few weeks ago, I wrote about whether the pending impeachment inquiry would–or could–impact the markets. While I do tend to stay away from talking about things like the Fed or politics, I may make some exceptions over the next year or so, especially as we move towards next year’s elections. As you may well know, the Fed lowered interest rates again last week, which was the third time they’ve done so since July. This move will impact the markets, but by the time you figure out what that impact will be, the markets will already have reacted and you’ll Continue reading Don’t Let the Fed (or Politics) Impact Your Investing Decisions