Looking for an equal and opposite reaction for those intent on continued delays in saving for retirement? This article reveals 5 effective counter punches.
Intermediate
When it comes to the definitive fiduciary, no one can play that role better than the parent. Parents constantly look out for their children. They want to give their children the best possible advantage to live a better life. Why not give them the ultimate head-start?
Are you afraid you might freak out if you see the results of a bad quarter reflected in the statement you are about to open? Read this and learn how to train yourself to avoid making rash (and wrong) decisions.
Why rely on the vagaries of Washington politics when it comes to their future retirement when you can teach them to control their own destiny?
If you own a business, waiting until the last minute to reduce taxes limits your options. You still have some, though. Here they are.
“Retirement savers must maintain long-term orientation regarding their assets. Supply and demand shock and generally easy to identify and often temporary in nature. These shocks often bring out the worst in decision making for investors. Astute investors will want to recognize this for what it’s worth: the opportunity to stand athwart the crowds in the market and purchase at cut-rate prices.”
Long-term investors like retirement savers can easily act like a fiduciary for their own assets. All they need to do is look in a mirror – but not for their own reflection. Look in a mirror a retirement professional is looking into and see how that reflection invests for retirement.
While Social Security is not going “bankrupt,” it’s clear it will have to change in both a fundamental and disruptive way.
Comprehending the tax code is not an activity for the faint of heart and most retirement savers would faint if they saw the actual codebook. The problem with current tax code is that it may not be the same in the future. This realization can have profound impact on the retirement savings strategy one undertakes.
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The best strategy is to live in moderation – both today and when you retire.
