What to do with your 401(k) or 403(b) if you leave your job

A while back, I had the radio on in the car, listening to an investment show on the radio: “Hi. My name is Ron. I am a first time caller.” “Hi, Ron. What can I help you with?” “I was laid off from my employer due to downsizing. I was wondering whether to leave my 401(k) where it is or …

Protect against inflation or preserve capital?

A man is lying in his hospital bed, surrounded by friends and family, reflecting on his recent near death experience. “I always thought it’d be the ulcer that killed me. I did everything the doctors told me. I drank the cream, ate the butter, drank the milk. And now I have a heart attack!” This was a scene from the …

The role of luck in a financially secure retirement

A new type of mutual fund was introduced in late 2007, by the fund industry, called managed-payout funds. The goal of these funds is to give retirees a steady stream of income. At the time, they were touted as being an easy way for investors to get regular income payouts, professional money management and relatively low fees. Early players in …