"If you fail to plan, you are planning to fail." ............ Ben Franklin
"If you fail to plan, you are planning to fail." ............ Ben Franklin
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The Complete Retirement Planner

The Complete Retirement Planner - Updates For 2018!

The Complete Retirement Planner - Updates For 2018!

With new tax laws on the horizon, we are already preparing an updated version of The Complete Retirement Planner for 2018. Along with the tax changes, the 2018 planner will also contain all other updates made during 2017. Depending on when you purchased your planner during the year, you will benefit from some, or all, of the following improvements that were made along the way: Additional itemized expenses were added/expanded, with the ability to add a couple of your own. You can now enter 4 One Time events, instead of only 2. Worksheets were added on the income page to...

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Use A Retirement Planner To Help With Current, And Future, Finances

Use A Retirement Planner To Help With Current, And Future, Finances

Most people think of a retirement planner as a tool that will only help them to plan for their future, but a good planner will also help you with current issues as soon as you start using it. To help figure out what your needs will be many years from now, you need to start with what your current needs are, and that means itemizing your current expenses. All of them. You don't need to go down to a granular level and list what you spend on paper towels every month, but you do need to list out as many...

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It Started Off So Well….

It Started Off So Well….

I've commented on the serious lack of reliable retirement planning tools many times, so I was thrilled when my point was validated by a Professor of Finance (Emeritas) at Wharton in a Huffington Post article ("Planning For Retirement: The Missing Piece"). He wrote, "There is one important factor that discourages retirement planning that is remediable: that is the lack of effective retirement planning tools...". Great to see this problem finally acknowledged in the media!Oops, not so fast. Unfortunately, he then went on to offer a retirement calculator that he helped to create, that was completely lacking in features and considerations...

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Evaluating Your Savings Strategy

Evaluating Your Savings Strategy

I tried another free retirement calculator on a major financial site that was designed to tell you if you were saving enough for retirement. I won't bother naming the source, because the truth is that it had the same flaws that every other calculator like it has. This falls under the heading of FREE RETIREMENT CALCULATORS ARE WORTHLESS! (my favorite subject). That's not to say that every retirement planning tool that you pay for is picture perfect either (although more effort is probably put into getting it right), but why do financial sites continue to publish these calculators that have...

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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?". 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, how much money would you like to leave to...

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