Many financial planners commonly refer to something called the “four percent rule”. It’s frequently used by near-retirees looking to determine their savings withdrawal rate. It’s supposed to be a simple answer to the common retiree fear: running out of money. David Mendels of Creative Financial Concepts explains the four percent rule’s roots stating: “Back in 1994 a… [Read More] Dissecting the Four Percent Rule
Everybody worries about retirement, it's part of life. This category page covers topics to help individuals get ready for retirement. Believe it or not there are steps you can take early on in life to set up a comfortable retirement.
The beginning of a new year presents an optimal time to set goals for yourself. Last week, Tom discussed financial New Year’s resolutions on the weekly video. I recently read an excellent post from Kris Venne of Ritholtz Wealth Management regarding knowing your monthly number that I thought went well with that video’s message. In… [Read More] The Importance of Knowing Your Monthly Number
Near Retirees Feel They Were Too Conservative On this week’s Mullooly Asset Management video, Tom discusses the findings of a recent TIAA-CREF retirement savings survey. TIAA-CREF interviewed 1,000 employer sponsored retirement plan participants about their biggest investment related regrets. Of those aged 55-64, one of the top regrets was being too conservative in their investments.… [Read More] Near Retirees Feel They Were Too Conservative
As part of the generation referred to as “millennials” I’m used to reading opinion pieces about what other people think of us. Sometimes I agree with their opinions, other times I don’t. Today I read an article that I agree with 100%. It was written by Patrick O’Shaughnessy and featured on MarketWatch. I frequent Patrick’s… [Read More] Millennials and Retirement Saving
In August of this year, BlackRock did a survey of 4,000 Americans. One of the most interesting things they discovered was surprising to me. According to their survey: “As was true in our 2013 survey, “cash remains king” with almost two-thirds (63%) of all savings and investments held in cash?and most of that in traditional… [Read More] Savers Still Heavily in Cash
New Retirement Plan Contribution Rates 2015 One of the many services we provide to our clients at Mullooly Asset Management is managing the risk in their retirement accounts. We help investors with their 401k accounts, 403b annuities, 457 plans, and IRA’s. Last week the IRS announced adjustments to retirement plan contribution levels for 2015. If… [Read More] IRS Sets New Retirement Plan Contribution Levels for 2015