Archive - February 5, 2013

1
How A Six-Year-Old Saves For Retirement
2
Choosing A Financial Planner? Here Is How To Find A Competent One
3
How Do Guns Make The Grade In A Portfolio?
4
Should You Delay Taking Social Security?

How A Six-Year-Old Saves For Retirement

In our society of conspicuous consumption and spending-beyond-means, many parents face an uphill battle to encourage children to save for the future, resist instant gratification, and most importantly, understand how to budget and use credit wisely. At a recent dinner party with a group of parents with young children, the conversation turned to this exact topic. When I shared how I teach our kids about money, these parents encouraged me to write an article to share my approach. This article explains how my wife and I attempt to instill financial values in our six-year-old son. I recently began giving our …

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Choosing A Financial Planner? Here Is How To Find A Competent One

You may be considering help from a financial planner for a number of reasons. Whatever your needs, working with a financial planner can help you. You should interview and evaluate several planners to find the right one for you. You will want to select a competent, qualified professional with whom you feel comfortable. Here are the most important questions to ask your prospective planner.

What is your educational background and what experience do you have? Find out what areas of study your planner has pursued; how long the planner has been in practice; and the number and types of companies …

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How Do Guns Make The Grade In A Portfolio?

Question from a reader: Recently I’ve read reports that the both the California and Chicago teachers pension funds are either reviewing or selling investments in guns. What do you make of it?

The trustees in these cases are walking a fine line. If they decide to divest of all gun manufacturers, they are eliminating a market sector, and research shows that hurts investment returns.

Divesting in entire market sectors was the approach back with the socially responsible investment (SRI) movement started. Funds that follow the strategy are called “Excluders” because they are excluding investments based on their market sector.

The

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Should You Delay Taking Social Security?

While taking withdrawals from your portfolio to cover your expenses while you maximize your Social Security payments is an attractive alternative to purchasing an income annuity from an insurance company, I wouldn’t recommend such action to everyone. The media is currently buzzing about how you should delay taking Social Security until age 70 in order to maximize your monthly benefit. Let’s examine a fairly typical retiree and determine if it pays to postpone receiving Social Security checks.

Let’s assume our retiree is age 62 and would receive $2,000 per month in Social Security if she waits until full retirement age …

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