The Benefits of Working Longer

According to the Employee Benefit Research Institute’s (EBRI) 2012 annual Retirement Confidence Survey, only 14% of Americans are very confident that they will have enough money to live comfortably in retirement. If you find yourself lacking confidence about whether or not you have saved enough for retirement, consider pushing back your intended retirement date. You’ve probably have a target retirement date in your head, but the benefits of continuing to work may be enough to help you get on track.

Generation Lost?

There is an increasing amount of attention gathering around the Millennial generations’ entrance (or attempted entrance) into the workforce. This is truly the workforce of tomorrow, yet things will be very different from the experiences of the previous Baby Boomer generation. The common dream of going to college, starting that dream job, starting a family and purchasing a home have all been faded by the current economic climate. While I realize that the majority of our readers are probably not in this generation, the mass majority of you do have children or family members who are.

My First Snider Investment Method Trade

I first started working at Snider Advisors back in May 2005. Since then, I’ve either placed or reviewed over 100,000 Snider Method trades for clients’ accounts. But, today I did something brand new; I placed my first trades in a personal account.

Overspending in Retirement

As an advisor with a specialty in an income investment strategy, a majority of our clients rely on their portfolios as one of their primary sources of income in retirement. That also means their portfolio needs to be around throughout their entire lifetime. I manage both portfolios as well as client’s expectations in order to help them avoid the devastating possibility of running out of money.

How Confident are You about Retirement?

Earlier this month, the Employee Benefit Research Institute (EBRI) released their 22nd annual Retirement Confidence Survey. However, the findings of the past several years indicate the report might be more aptly named the lack of confidence survey. Sadly, only 14% of Americans are very confident they will have enough money to live comfortably in retirement.

Divorce and Retirement

A divorce attorney recently shared this joke with me:

Shortly after celebrating their 60th wedding anniversary, Bob and Mary file for divorce. When their friends ask why they waited so long, they reply, “We were waiting for the kids to be dead.”

What can I say; divorce attorneys aren’t known for their sense of humor. However, the joke brings to light an interesting trend that has emerged over the past couple of decades – couples divorcing later in life, also called, “gray divorce.” Marriage has typically been considered a lifetime commitment, but with the average life expectancy more than 30 years longer than it was a century ago, a lifetime is proving to be too long for a growing number of seniors. From 1990-2009, the divorce rate for those over the age of 50 doubled.

Time to hit the books

“You can blame the corrupt markets, evil hedge funds, or the big bad banks for your financial woes. You can even blame yours truly. Off-loading the blame may feel good at the time but it’s not going to build up your IRA or send your kids to college. Your finances are your responsibility and the best way to protect and grow your money isn’t a hot stock tip; it’s education.” I recently read this in an article on Breakout, a financial blog located on Yahoo.com and I couldn’t agree more.

Simple Resolutions for the New Year

With the each New Year we reflect upon the challenges we faced during the previous year while making resolutions for the next. Many of these resolutions I hear from family and friends are often either financial or health related goals as these seem to be the two areas in our lives that always seem as though they could be improved. I think the problem with most of the resolutions I hear made this time of year is that they are far too ambitions and often never end up being fulfilled. With this in mind I’ve compiled a list of simple financial do’s and don’ts for the coming year that can help you get your finances in order.

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.

Caution: Retirement Approaching

It’s an understatement to say that times have changed since the financial crisis in 2008-2009. People have in no way forgotten the crisis and the uncertainty surrounding current political and fiscal policies have undoubtedly had an influence on our behaviors over the past several months. It’s perfectly natural to adjust to the environment surrounding you; however, there is one area I’ve seen change that will have a negative impact on many peoples’ lives in the future. People have significantly reduced the amount they are saving for their retirement.