Tue, 28 October 2014
Is your soul on fire? Too many of us live in a prison within our mind. We are trapped by our past choices, not realizing that today, right now, we can start a new journey. If you feel stuck, you can create a new life. You can ignite your soul and live your own hero's journey.
Invest Wisely You'll Never Get the Average
One of the biggest roadblocks to setting good expectations about investing is focusing on average returns. We financial planners are the biggest abusers of this. No one get's average returns. By focusing on them, we set unrealistic expectations on what the experience will actually be.
Look at the returns of the S&P 500 stock index over the last 15 years. How often did it hit it's average return?
In this episode I discuss this and how to develop a better understanding of what to expect (and not expect) from your investment assets.
Plan Well How to Live an Intentional Life with Kary Oberbrunner
Kary Oberbrunner is like you or I. He went to school, got a job, got married and lived a normal life, until something happened inside him. His soul ignited. Today, he is living a more intentional life and is on a mission to help you ignite your soul and do the same.
Kary's message really resonates with me. Much of my life, I was blind to the choices I had. I felt imprisoned by my past decisions. I think many of us feel this way. We're not. Our prison is in our mind. If we break free from our past self, we can create the life we desire.
Kary and I discuss:
Take the assessment and let's compare results on twitter Tweet to @roger_whitney
Direct download: Retirement_Answer_Man_37.mp3
Category:general -- posted at: 5:18pm CDT
Mon, 20 October 2014
You don't like to lose money. Nobody does. That's one reason it is so hard to stick to a long-term investment plan when we feel like we're getting punched in the face by the markets. Just like a boxer, it's natural to want step back and protect ourselves. This natural reaction, however, has caused most investors to underperform the very assets they invest in. In this episode, I discuss 7 steps to help you fight through a normal market correction.
Invest Wisely: 7 Steps to Fighting Through a Market Correction
A 2014 Dalbar Study once again showed that average investors drastically underperform the very assets they invest in. Over the last 10 years the average investors, investing in a mix of stocks and bonds, had an average annual return of 2.6%. Over that same period, the S&P 500 had an average return of 7.4% and fixed income averaged 4.6%.
One of the biggest contributors to this is our natural reaction to run from pain. It's a strong instinct that I struggle with during every market downturn.
In this episode, I introduce 7 steps you can take to help fight through a market correction so you can invest wisely for retirement.
Not sure how? Find someone to help.
Investing wisely is easy to understand. The hard part is sticking to a well thought out plan when you get punched in the face by a market correction.
Plan Well: Budgets That Work With Jim Munchbach
Recently I had the pleasure of talking with Jim Munchbach from imakeyourmoneycount.com about how to find a budget that works for you. Jim is a Certified Financial Planner, State Farm agent and instructor of Introduction to Personal Finance at the University of Houston.
Here are some of the topics we cover:
Retirement Toolbox: Retirement Planning Worksheet
This worksheet may help you determine if your current retirement savings effort is on course or if you need to chart a new direction to help reach the retirement destination that you desire. To help you, I’ve added a new worksheet to the Retirement Toolbox titled Retirement Planning Worksheet.
Direct download: 36_Retiremen_Answer_Man.mp3
Category:Investing -- posted at: 7:58am CDT
Sun, 12 October 2014
It's natural to fear a market correction. Losing money (even if on paper) sucks. News reports, act as if market corrections are bad. That's not true. The economy and the markets don't function well without corrections. Just as there are benefits to a forest fire, a market correction is an essential element of a strong economy and market.
Invest Wisely 4 Benefits of a Forest Fire and Market Correction
Are we headed for a market correction? Last week the S&P 500 was down 3.4%. It's been over 34 months since we've had a correction in the S&P 500 of over 10%. Normally we experience one every 18 months.
I've always likened market corrections to forest fires. Both cause some short term pain but are essential to the long-term health of the forest (or market). I've used this analogy for years. Sure enough, if you read the Benefits of Fire from the California Department of Forestry and Fire Protection, the 4 benefits of forest fires parallel to the benefits of a market correction.
In this podcast I explore these 4 benefits of forest fires and market corrections:
Plan Well Kim Blanton From the Center for Retirement Research at Boston College
Recently I had the pleasure of talking about the retirement landscape with Kim Blanton. Kim works with the Center for Retirement Research at Boston College and writes their Squared Away Blog. Her Blog is about financial fehavior as it relates to working, saving and retiring.
Kim and I discuss the changing landscape of retirement and how we can plan for it.
Retirement Toolbox: Retiring to a Different State
If your family is considering retiring to a different state, there are some important planning items to consider. To help you, I’ve added a new worksheet to the Retirement Toolbox titled Retiring to a Different State. www.rogerwhitney.com
Direct download: 35_Retirement_Answer_Man.mp3
Category:general -- posted at: 6:01pm CDT
Sun, 5 October 2014
Medicare eligibility starts at at 65. If you're blessed to be able leave your career earlier, you'll need to evaluate your healthcare options until then. This week I talk with health insurance guru, Misty Kimbrough about your healthcare options before age 65.
Invest Wisely 3 things you can do to ignore the voices in your head
I'm starting to hear voices in my head. Maybe you are too. They're asking "Should I move to the sidelines? Should I wait to invest?" Certainly we've heard these voices on our beloved financial media outlets. Over the last 3 weeks or so, equity markets have had some big down days and it's making people nervous.
Don't base your investment strategy off of intuition, regardless of how well reasoned you think it is. The fact is professional investors struggle with timing markets. Even those that have great "market calls" can't do it consistently enough to be of much use to you or I.
Plan Well Health Insurance Options Before Age 65
This week I talk again with Misty Kimbrough from Red Apple Insurance. She and I discuss the insurance landscape if you've been blessed to retire early. We discuss:
Retirement Answers How Do I Choose Long Term Care Insurance
This week I added a 2 page fact sheet to give you the basics on long term care insurance. You can access it for free by clicking the cool button below
Direct download: 34_Retirement_Answer_Man.mp3
Category:general -- posted at: 7:46pm CDT