A few years ago, Bob retired early because he was convinced he had enough money to fund his golden years. Now he’s not so sure. Each time he withdraws money from his portfolio, he sees his balance dip and feels his blood pressure rise. (And he nearly passes out when the market suddenly drops.) Because […]
Three Questions for Nervous Retirees Read More »
For the last couple of weeks, we’ve been examining the two primary forms of life insurance—“term” and “whole life” (or “permanent”). More specifically, we’ve been evaluating the commonly repeated advice: “Buy term and invest the rest.” It seems so obvious. When you’re young and healthy, term insurance is shockingly inexpensive. Doesn’t it make sense to
Should I Buy Term and Invest the Difference? (Part 3) Read More »
Last week, I began a discussion about the two most common kinds of life insurance: term insurance and whole life insurance—and which one makes the most sense for you. Specifically, we examined this commonly-asked question: “What if, instead of buying a more expensive whole life insurance policy, you opted for a less expensive term policy
Should I Buy Term and Invest the Difference? (Part 2) Read More »
In discussions of life insurance, you’ve probably heard someone say, “Buy term and invest the difference.” Some have suggested this popular mantra originated with financial guru Suze Orman or perhaps Andrew Tobias (in his 1978 book, The Only Investment Guide You’ll Ever Need). Others attribute the pithy sales pitch to insurance magnate A. L. Williams,
Should I Buy Term and Invest the Difference? (Part 1) Read More »
As people near retirement, most ask some version of this question: “What financial risks should I watch out for in this next chapter of my life?” The answer is not that complicated: Many of the same risks you face now—plus a couple more. Here’s why that’s interesting: If you are about to voluntarily retire, you
How to Sleep Better in Retirement Read More »
After another brutal tax season—digging up records for his CPA, trying to recall expenditures and hunt down old receipts, etc.—Bob vowed, “Never again!” He went online and purchased some money management software, thinking, “Next year, I want to be able to push a button and easily generate all kinds of accurate, detailed reports.” Last night,
Change: Short-Term Pain for Long-Term Gain Read More »
I once asked a potential client if he and his wife had long-term care insurance. “Oh, we don’t need that. Neither of us wants to go into a nursing home.” “I understand,” I said. “I hope that never becomes necessary. But here’s a reality most people aren’t aware of: I shared three more realities with
Misconceptions About Long-Term Care Insurance Read More »
Ralph has always been aggressive when it comes to investing. But as he ages, he’s second-guessing himself more and more. Is my approach the best approach? Here’s what I’d tell Ralph: It depends on how you define financial success. I find people define financial success in three broad ways. Often these definitions are unconscious and
What Does Financial Success Mean to You? Read More »
When my oldest son walked across the stage at his college graduation, my wife got all emotional. A month later, when he called home and announced, “Dad, I got a job!” I was the one who got emotional. Here’s the advice I gave him as we discussed what to do with his paycheck. (Note: It’s
Secrets for Successful Saving Read More »
I hear stories like this all the time: “So, this guy talked me into putting some money into his investment opportunity. Frankly, he just wore me down. I’m not sure how that investment’s doing, or even if this guy is on the up and up. Suggestions?” Two words: Take responsibility. Financial problems begin when you
Take Responsibility for Your Money Read More »
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