Part 2: Control Your 401(k) Destiny

“It’s my money and I need it now.” You’ve probably seen the JG Wentworth® commercials that say, “It’s my money and I need it now!”  Well, 401(k) plans dictate how you can have access to your own money.  Yes, it’s your money but you may not be able to get it now! Believe it or not, many plans only have a …

Part 1: Control Your 401(k) Destiny

“An investment in knowledge pays the best interest.” -Benjamin Franklin Have you ever asked yourself who is in control of your 401(k) savings plan(s)?  Like many plan participants, you may think you’re in control. But the truth of the matter is that while you get to choose how to invest your retirement savings in an employer-sponsored plan, that’s about the extent of your …

3 Major Misconceptions Regarding Roth IRA’s

As Roth accounts and Roth conversions continue to grow in popularity, there are several misconceptions in regard to the rules surrounding these qualified accounts. Today we will take a look at 3 of the most common statements we hear, and provide and explanation as to why these are not necessarily true.

Creating a Succession Plan for the Snider Method

A question we consistently hear is, “I’ve been trading my account for years, and my spouse has no interest in trading whatsoever. What should I do?” Creating a succession plan is a very important piece to the financial planning puzzle. By creating a plan and educating those who will ultimately be left behind, you can provide your loved ones a great deal of comfort in a very turbulent time of loss.

The Investor’s Christmas Wish List

What do you want for Christmas? This is a common question we likely all hear from friends and family this time of year. While I doubt any of us will be creating a Christmas list to send to Santa, we all have secret wishes or cravings that would put a smile on our face Christmas morning.

Common Investors’ Mistakes

Investors make the same mistakes over and over again. They are all well documented, but rarely do we try to recognize our errors, evaluate the decision making process, and finally, avoid the mistakes in the future. One of my favorite financial bloggers, Barry Ritholtz, recently wrote an article for The Washington Post listing Investors’ 10 Most Common Mistakes. Here are three and how we combat these mistakes with the Snider Investment Method.

Over 50 and Concerned About Retirement?

After the financial meltdown in 2008-2009, many boomers are now in their 50’s and quickly approaching what was supposed to be their “Golden Years”. Their retirement picture today is most likely very different than it was just 5 years ago. Even with account values cut in half during the recession, there is still a way to save your way into retirement.

Creating Cash Flow in Retirement

At the close of the third quarter, the S&P 500 was down just over 10% for 2011. Retirees living off their portfolios may face tough decisions over the next few months when it comes time to make their next withdrawal. The standard 4% withdrawal rule faces added scrutiny each and every time the market declines. When portfolio income becomes a priority, it is time to abandon your customary mutual fund portfolio and find an investment strategy aligned with your objectives.

The Fastest Way to Sabotage Your Retirement

We’ve talked about this before – on a few occasions – but it never hurts to revisit timeless truths that help keep things in perspective. Last year, a survey by Allianz Life Insurance Company of North America reported that more Americans would rather die than run out of money in retirement. While neither is a pleasant thought, at least the latter can be avoided.

Is running out of retirement money a fate worse than death?

Imagine this – the year is 2040. You are 80 years old, in reasonably good health, and you have just spent your last penny of retirement savings. You have no other sources of income. For the rest of your life, you will rely on government handouts and the charity of others. Sit with that image for a moment and then …