Creating a personal financial plan

Personal financial planning is extremely important to your financial success. I can't express enough the importance of financial planning if you want to build on what you already have. Preparing a budget, 401k, retirement, college education, savings, annuity, Insurance and estate planning are very important.

Learn About Debt Consolidation

The Debt Consolidation Lesson Will Help You Reach Your Financial Goals

Permalink -- click for full blog post "Learn About Debt Consolidation"

Personal Financial Planning Lesson

financial planning lesson teaches creating a budget, planning for college, retirement and more. Don't wait create your personal financial plan now.

Permalink -- click for full blog post "Personal Financial Planning Lesson "

Are Annuities Part of Your Retirement Toolkit?

by Christine Benz:

There's a growing body of research demonstrating that annuities can help retirees by delivering a guaranteed stream of income and ensuring that they don't outlive their savings. Those findings were corroborated in a recent report prepared by the General Accountability Office, in which retirement experts contended that retirees undermine their portfolios' longevity by tapping Social Security prematurely (before full retirement age) and by underutilizing fixed immediate annuities.

Scwood advises a combination of immediate and variable annuities. "As a home office consultant, I encourage our advisors to use a period-only immediate annuity to provide income for the next seven to 10 years for example. Then, any side assets are invested in variable annuities or mutual funds/wrap products for long term growth potential that can outpace taxes/inflation. This provides protected income over the near-term but doesn't expose too many assets to low-interest rate products. After the first immediate annuity runs out, we use assets from the other products to purchase another immediate annuity, and so on. A nice, multiproduct, multibucket strategy that combines guaranteed income with long-term growth potential."

Both fixed and variable annuities will be part of the plan for Juris2 and his spouse when they retire a few years from now. "I am a couple of years from retirement, but am contemplating at retirement to begin with a systematic withdrawal to complement Social Security, and then to ladder in a series of partial two-life single premium immediate annuities (both fixed and variable) to generate lifetime income approximately matching our (joint) Social Security. A major issue is assuring inflation adjustment to the annuity income."

Click for more info

Plaing Russian Roulette With Roulette With Retiremnet Funds Is Dumb

Desperate people do desperate (and dumb) things.

Playing 'Russian Roulette' with your retirement funds in a misguided effort to make up for past missteps is one of them -- especially for those in their fifties and sixties.

In the hunt for a 'magic bullet' solution, some mainstream financial planners and money managers are now promoting a strategy for retirees and soon-to-be retirees that involves bulking up on stocks and shunning more conservative fixed-income investments.

Permalink -- click for full blog post "Plaing Russian Roulette With Roulette With Retiremnet Funds Is Dumb"

Wealth Management Lesson

Wealth Management Lesson

Permalink -- click for full blog post "Wealth Management Lesson"