Archive - August 2019

1
Friends With (Social Security) Benefits
2
Reached Your Retirement Savings Goal? Keep Saving.
3
How to Calculate Safe Spending Rate from a Fixed Pension
4
The Deep Value of Useless Things
5
Read and Reflect on Fiction with Financial Themes

Friends With (Social Security) Benefits

Social Security is arguably one of the most important cash flows for individuals in retirement. Many individuals have paid into the system for years, and in turn will be eligible for reduced benefits as early as age 62, or at their full retirement age (between ages 66 and 67). The decision on when to start collecting benefits is important and can impact your retirement cash flows for your remaining retirement. This decision should not be taken lightly, and it should not be left to informal conversations with friends, coworkers, etc. In other words, don’t base your decision to take benefits… Read More

Reached Your Retirement Savings Goal? Keep Saving.

In “Are you confident about your retirement savings? That could be dangerous,” USA Today and TheMotley Fool discuss a survey that found “38% of retirees say they felt either extremely or very confident in their savings before they retired.” Notice that this is how they felt before actually retiring. It is possible that these same survey respondents felt differently once they had been retired for a while.  

As the article notes, this certainty can backfire if those who are feeling confident get lax about money management. Perhaps someone approaching retirement looks at what they have already saved …

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How to Calculate Safe Spending Rate from a Fixed Pension

We recently had the pleasure of analyzing a pension from the state of New Jersey. The pension amount, while generous, had not been adjusted for inflation for the past eight years. Prior to that, the adjustment was only 60% of the Consumer Price Index. The New Jersey Education Association explains:

A cost of living adjustment (COLA) protects retirees’ pensions from eroding due to inflation. In New Jersey, the COLA calculation is 60 percent of the Consumer Price Index (CPI) annually. Chapter 78, the 2011 pension and benefits law passed by the Legislature and signed by Gov. Chris Christie, suspended

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The Deep Value of Useless Things

At the risk of sounding like an aging baby boomer (oops, that is me), I want to put in a pitch to value highly those things that aren’t worth much. So here’s why everyone else is wrong.

A liberal arts or humanities major

There are an awful lot of parents these days who have a seizure if their progeny announce they are majoring in English or worse yet, French literature, art history, or history. This is close on the heels of recovery from the previous seizure when they saw the tuition bill. In the instant mental computation available to every …

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Read and Reflect on Fiction with Financial Themes

Summer isn’t over and there is still time to relax on the beach, the park, or your own backyard with a good book. And when we say good book, we don’t necessarily mean a book with financial advice.

USA Today’s “Alpha women and fancy yachts make for good summer investing and finance reading” offers suggestions for recreational ways that you can get more insight into your money management and your own financial habits. Reading informative texts is needed to learn about finances but you can also learn from fiction and memoirs. You read about other peoples’ triumphs, …

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