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Asset Allocation
Often financial "experts" make asset allocation difficult to understand. My goal in this series of articles is for you to understand asset allocation thoroughly, in an easy to understand format.Boomer Activity
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Boomers: You Deserve a Quick Break From All of Your Activities
Boomers are as active as they have ever been. Boomer activity includes ongoing physical fitness. Boomer activity involves more travel - travel for business as well as travel for pleasure and travel to visit the family in far away places. Boomer activity also involves taking special care to be sure that all of their financial goals can be achieved before they retire. Part of that last Boomer activity - developing strategies that will help financial goals to be achieved - is done so that the lifestyle that Boomers - people just like you who do not want to be slowed down - are accustomed to will not disappear when their weekly paycheck from an employer does. No one wants to work hard only to find that they are unprepared for retirement. No one want to feel as though, once they have retired, there is nothing left to do. And a sure fire way to avoid being unprepared and unable to reach your retirement goals is to not make the time in your busy schedule now in order to plan for your retirement. While planning for retirement is not a favorite Boomer activity, it does not need to be entirely unpleasant. Planning for your financial future is easier than ever before when you download the free retirement calculator by clicking the red button at the bottom of this page. With the retirement calculator, you will be able to really look at your retirement goals. You will be able to enter simple information about the savings and investment accounts that you have. And then, with the retirement calculator, you will be able to view a report about how those investments in the past. Not only that, but you will also be able to view projections for how the stocks, bonds and mutual funds that you have invested in are expected to perform over the next twenty five years. Because those projections take the rising costs of inflation and changing interest rates into consideration, you can be sure that the amount that you see reflected will be the value of your savings when you retire. Maybe you like what you see and wonder whether or not there are still some improvements that you could make. Maybe you are looking at the value you can expect your savings and investments to have when you retire and you are wondering how you managed to create so much distance between you and your goals. In either of those cases, you will be able to use the retirement calculator to see how changes - both small and large - that you can make to your savings and investment accounts would affect the income available after you have retired. Before you invest in a new stock or mutual fund you will be able to see how it will affect your financial future - and therefore your ability to have the retirement that you have dreamed of having. Or, if you are at the opposite end of the spectrum and your estimates show that you will have more than enough money when you retire, you will be able to view a projection of how a withdrawal that you made from your retirement savings would affect your financial security. You see, the free retirement calculator is more than a way of evaluating what is; the retirement calculator is also a way of determining what could be. And, in order to help you achieve all that your retirement can be, when you download the free retirement calculator you will also receive a free consultation with a financial advisor. You will be able to ask the questions that you have and get the advice that you need to take control of your financial future. Though you may not want to take time away from all of the activities you participate in as a Boomer, you will be glad that you made this time to download the retirement calculator and to speak with a financial advisor. You will be able to keep your Boomer activities going on for a long while; all it takes to get started is a click of the red button to download the free retirement calculator. |
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Analysis of the Economics of Early Social Security Withdrawal
Robert J. Phillips
Chief Retirement Consultant
Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.
Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.
The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution
FREE Social Security Calculator:
Find Out Your Breakeven AgeWe developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.
To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.
The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.
