The Complete Retirement Planner Blog

Should You Pay Off Your Mortgage Before Retirement?

Paying off your mortgage before retirement has long been considered a smart financial move. But is it always?The long standing rule of thumb is that you want to reduce expenses as much as possible before retirement so that it takes less money to live on. In theory, this will help your savings to last as long as possible. But if your mortgage does not reach the end of its term by the time you retire you have a decision to make. Either you pay off the balance using your savings, or you continue to maintain the mortgage. Since a mortgage...

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Physical Health And Financial Health Go Hand In Hand

Whether you desire to be physically healthy and/or financially healthy, both require the same type of behavior. Watching what you eat (being aware of calories, serving sizes, ingredients), and exercising regularly (calories burned, steps, rotating muscle groups), requires the same type of commitment and habits as being financially sound (watching your budget, monitoring investment performance, planning for retirement). In both cases, being successful requires you to set realistic goals based on what you’re trying to accomplish, monitor your results, and then adapt as needed to stay on track. Just as you establish a regular plan to stay physically healthy, a...

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How Much Credit Card Debt Is Really Costing You

When it comes time to assess your financial health nothing is more important than seeing an itemized monthly budget in black and white - every single item you spend money on - and what % of your income it represents. Seeing it all on one page makes it real, undeniable, and inescapable. You have to deal with it, and that's a good thing. You can't make intelligent decisions until you have the cold hard facts in hand and one of the most important budget items to examine is debt. Debt is a serious threat to your financial security because it...

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Why Using An Average Investment Return Rate May Be Risky

Every financial plan will require you to enter an investment rate of return for retirement savings. This is a critical piece of the retirement plan puzzle since it is a determining factor in how long your savings will last. It should not be glossed over. Calculators and less than robust planning tools only allow one entry for an investment return rate, and this is another reason why their results are skewed. But if you have access to a planning tool that allows for annual entries rather than a single average, take advantage of it. Because there is no way to...

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Retirement Planning - Before The Numbers

When planning for retirement, the first question on everyone's mind is, "how much money will be needed to fund a comfortable retirement?". That makes sense, but just coming up with a number isn't enough. How you arrive at that number is every bit as important, if not more important, than the number itself. With the many moving parts of a financial plan, most involving predictions of what is likely to occur in the future, being realistic and conservative with your forecasts ultimately determines how reliable your results will be. As you start developing your plan keep these considerations in mind:...

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