Investment Planning

9 Ways to Build Wealth in Your 50s

Midlife is filled with challenges and opportunities. Yes, you might be in the thick of paying for college, but soon all those other costs that come with kids should be behind you—or so you hope. You're also likely in your peak earning years and when you're making the most is also when you should squirrel away the most.

Some 40% of successful savers—those who built nest eggs equivalent to 10 times pay—did so by saving 15% or more of their incomes for at least 10 years.  Here's how...

How much money you need to save each day to become a millionaire by age 65

Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.

If you want to get rich, start investing- and start as early as you possibly can.  

To illustrate the simplicity of building wealth over time, Bach created a chart detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you're 65.   

Next time you consider running to Starbucks for a $4 latte, think about this chart and consider redirecting that coffee cash to your savings.  Check it out. 

The Big Lesson From 2016 for Your Retirement Planning

Here's what you should take away from the year that included Brexit and Trump's election.

When it comes to takeaways that can improve your retirement planning and investing, I think there’s one big lesson we should all draw from 2016.

What Fantasy Football Can Teach You About Investing

If you’re like me, you recently drafted players for your Fantasy Football team. As you sat online with thousands of other fans and fanatics scattered nationwide, chatting about and nabbing the best running backs, quarterback and kickers for your imaginary team, you may feel you learn little about investing. Wrong call.           

Fantasy Football is a billion dollar business that has more to do with investing than you might think.  The thought process involved with picking and managing your team can be similar to investing in your 401(k).                          

Here are mistakes to avoid on the make-believe gridiron and in our very real stock market.

Is It Time To Make Changes to Your Investment Portfolio?

The stock market has taken us for an emotional ride during the past couple of months, and you may be asking yourself if you should make changes to your investment portfolio.  While changing strategies can be a good idea, it’s better to base those decisions on analysis and in the context of your long-term investment plan rather than on emotion.  Before changing your investments, consider whether or not your response is an overreaction to the news. It is always good to review your portfolio on a quarterly or annual basis to make sure you are on track to reach your goals.  

Click the link below for the questions you should ask yourself when thinking about making changes to your investments.  

The Best Revenge on an Ex-Husband: Building Wealth!

With the help of a financial advisor, a divorcée bounces back.  Her advisor told her that the best way to get back at her ex-husband was to become extremely successful.  He was right.

Read full story below.  

Survival Tips for Bear Markets

What is a bear market?  Bear markets are normal, but not predominant.  Statistically, we are overdue. The most recent bear market ended in March 2009 — more than six years ago.  

Here’s Why You Should Start Investing Now

Investing is the most important element of our financial future.  Tony Robbins and Clark Howard recommend that people who have yet to invest in the stock market should ‘get in the game.’  Experts believe the financial market is still ‘winnable’. We agree.  Don’t wait to invest. Get started with whatever you have.  

You can put off some small things in life without consequence, but when it comes to investing, sticking your head in the sand simply won’t cut it. If you don't know how to start investing, when to start investing or why you should invest, now's the time to learn. The sooner you get started, the more time and interest can help grow your money.  

To learn more click the link below.  

The Supreme Court Just Made A Ruling that Could Boost Your 401(k)

On Monday, The Supreme Court of the United States ruled that workers can sue their employers over high fees in their 401(k) plan offerings.   

Should I pay off my debt or start investing?

Should I pay off my debt or start investing? This question, perhaps more than any other, has plagued investors for generations. Ironically, it is one that can be easily decided by using a bit of simple math.

Read more below:

Warren Buffett and Bill Gates Agree - This Factor Was Most Important for their Success

Warren Buffett, Steve Jobs, and Bill Gates have all attributed their success to one factor. In fact, this one trait is behind the success of all people that have performed massively better than the average person. Read on to find out what the trait is and how you can put it into practice in your own life and investing.

Our First Quarter Newsletter- Financial Insights & Outlook

Check out the latest edition of our newsletter.  Included in this issue:

- Retirement account distribution strategies

- Tips for a successful retirement

-  How to manage excess cash

Study: 9 in 10 Americans Underestimate Their Hidden 401(k) Fees. When was the last time you checked the fees on your 401(k)?

Who’s looking out for your 401(k)?  Do you know who is legally responsible for plan losses and excessive fees?  Do you understand the fees being charged to your account?  When was the last time you checked the fees on your 401(k)?

All too often, workers with 401(k) accounts are in the dark. They view their retirement plan as a benefit and are unaware they're paying for the privilege of investing for retirement. Many times, the 401(k) plans get neglected or pushed to the bottom of the list because the owner and Board of Directors are too busy with other tasks. 

Many investors don't realize that more than a half a dozen fees may be charged against their 401(k) account for recordkeeping, administration, investment advisory, brokerage and management services. These are often shaved off the top of the account's investment returns, and never before seen by the 401(k) participants.

The Federal Government has been trying to enforce new regulations that require 401(k) plan providers to spell out the hidden fees workers pay.  The push for greater disclosure has been in the works for several years, and it has been a struggle. 

Unveiling  investment expenses is particularly important for 401(k) participants in smaller companies. That's primarily because many companies, especially small businesses, do not want to pay the thousands of dollars of operating costs; therefore, they set up retirement plans in which costs are paid by workers out of their investment returns.

All of this discussion is critical because 401(k) participants who pay just 1 percent more in fees see a significant impact on their retirement balance over their working careers.

Revealing these costs should cause workers to push their employers for a less expensive plan. That's the takeaway for employees in all this. They should look over their reports and if they feel they're not getting enough information, push for more. If they find their fees seem higher than average, they should talk to their plan administrator about lower fee options. 

At Horizons Wealth Management, we feel certain that we can provide a better retirement plan for much lower costs.  We would be grateful for the opportunity to run a free cost comparison and analysis for your company to illustrate how much could be saved in your retirement plan fees.

Read more here....

http://www.nerdwallet.com/blog/investing/2013/hidden-401k-fees-plan-retirement-account-study/

 

 

Are Your Kids Ruining Your Retirement?

Parents, it may be time to cut the financial cord with your adult child, unless you want a retirement that’s more Ramen noodles in a cramped apartment than umbrella drinks in a beach chair.  More than a third of millennials receive financial support from their parents.  These “boomerang” families- parents who are still supporting adult children- are suffering financially more than any other type of family.  New studies show that many boomers are risking ruining their retirement to subsidize their adult children, which is scary because they are living longer and will need substantial savings to make it last.  Making personal sacrifices for the good of your children is good parenting, but there are limits, and financial advisors agree that your retirement should not be on the table.

The Recipe for Building a $1 Million Retirement Plan

The 401(K) has become America's number one way to save for retirement.  The stock market’s recent bull streak has not only pushed the average 401(k) plan balance to record highs, but also boosted the ranks of a new breed of retirement investor: the 401(k) millionaire.  To join this "Million Dollar Club," you need to learn all the right ingredients to this recipe.