The Complete Retirement Planner Blog

Why Should You Pay For A Retirement Planning Tool?

Why Should You Pay For A Retirement Planning Tool?

If you've ever tried to create a retirement plan, you already know how complex it is to try to account for decades of personal financial variables, taxes, potential pitfalls, life changes, predicting the future, etc. Unless you're a whiz at building financial planning tools, it will likely end up being an exercise in frustration. To figure it all out correctly, most people need a little help in the form of a comprehensive planning tool. If you can find one. There are hundreds of free retirement calculators available across the internet, mostly found on financial sites. Most will ask you a...

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Just How Costly Is A Little "Bad" Debt?

Just How Costly Is A Little "Bad" Debt?

While being "in debt" often has negative implications, not all debt is construed as being harmful to your financial situation. Different types of debt are often referred to as, "good" debt, or "bad" debt. Having a mortgage (that you can really afford) is considered to be "good" debt because it can be beneficial in the long run. A mortgage pays for an asset that is expected to gain in value, you are paying a relatively low interest rate, it can provide certain tax deductions, and it is an expense that you would have anyway (at least in part) even if...

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5 Retirement Planning Topics That Need Clarification

5 Retirement Planning Topics That Need Clarification

There seems to be a never ending supply of articles offering advice about retirement planning. Some offer well thought out points, some offer generic assumptions, some offer half-truths, and some don't seem to have much to offer at all. The five topics listed below address some areas that might benefit from a little extra clarification.• The Assumption That You'll Need To Replace 75% Of Your Salary In Retirement. Many articles suggest that you should plan on replacing 70% - 80% of your salary in retirement, so I split the difference. In very general terms, with a salary of $75,000 per...

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“Retirement Planning” - It's Keeping Younger People From Being Better Prepared.

“Retirement Planning” - It's Keeping Younger People From Being Better Prepared.

I really wish that someone had explained to me just how financially important the first 20 years of my working life would be to my final 20-25 years on this earth. I’m pretty sure that I would have made some different decisions and paid a little more attention to the possibilities. At least on paper, I could have stopped saving for retirement by age 45 (and let those savings grow for another 20 years), rather than be in the beginning stages. The term “retirement planning” can be misleading since it’s not as much about planning for what happens during retirement,...

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Withdrawal Rate For Retirement Savings

Withdrawal Rate For Retirement Savings

I've come across several articles recently, and web site calculators (ugh, more calculators that mislead you, and don't work!), that offer guidance on an appropriate withdrawal rate for retirement savings. To keep this simple, let's only consider savings currently in a 401K plan, or traditional IRA. The basic question is, "How much should you withdraw from these savings, annually, during retirement so that you won't run out of money?". Let's consider two main scenarios: 1) If you know that you have more than enough money to sustain you (lucky you, but you better be sure!), then the real question is,...

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