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If you haven’t already received your 401(k) retirement statement, get ready for a bombshell in your mailbox.  Thanks to the fluctuating markets – along with the growing threat of inflation – balances for your retirement savings could be at an all-time low.  For those on the verge of retirement, it’s time to learn ways to control sticker shock – and how you can turn any panic into bona fide action.

Take A Deep Breath.  Like with most statements, sticker shock is a normal feeling.  Remember when you first took out that mortgage?  How about when you discovered how much interest you’ve been paying on those credit cards?  Don’t let sticker shock regarding your 401(k) retirement fund overwhelm you; remember, you have plenty of time to make up for any losses incurred.  On the bright side, markets recently have been looking up, with consumers showing more confidence in the economy (www.msn.com).  This means that your savings and investments have already been gaining on any losses since 2008.

Take Action. You can sit and bemoan that your 401(k) retirement fund isn’t up to par – or you can take action to ensure that you’ll have a comfortable retirement!  Visit your investment advisor to see how you can boost your numbers by the time you reach your retirement age.  Whether you need to heavily invest in an IRA (putting aside $500 a month for ten years can net you up to $300,000, assuming an 8% return) or move your money to safe investments, your investment advisor will help you come up with a better retirement plan.

Cut Expenses.  For those on the edge of retirement, a smaller fixed income will definitely necessitate cutting any extra expenses.  Instead of paying for your child’s college education or buying that second home, use that money to vigorously invest in the market.  After all, who says that you’ll stop investing once you reach your retirement age?

The bottom line is that you shouldn’t regard your 401(k) retirement statement as final.  Thanks to savvy investments that will last well into retirement – along with smart budget cuts – you’ll have a long and happy retirement to look forward to.

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401(k) experts!

Authored by Kenneth Himmler, Sr.

America’s about to go broke.

Well, that’s what many financial experts are proclaiming anyways.  Thanks to the perfect storm of future inflation and the depleted funds of Social Security and Medicare, more people than ever are starting to break a little sweat when they think about the health of their retirement savings; some are even tempted to pull out altogether for a couple of years just to avoid the economic crisis.

However, just because the economic forecast is less-than-desirable doesn’t mean you should immediately fire your investment advisor and pull out of your 401(k) retirement fund; rather, the key is to be smart and use the time you have to counteract inflation and Social Security with savings of your own.

If you think that your savings and investments are safe from any future catastrophes, let’s take a look at some scary figures to get you in gear.  Economic experts have indicated that Medicare and Social Security deficits are likely to spring up starting in 2010 – just a few months from now.  With a likely deficit of almost $1.25 trillion soon upon us – and a depleting number of younger people who will be funding the baby boomer generation’s retirement – it’s no longer enough to count on your Social Security checks to see you through.  What’s more, inflation is set to skyrocket prices within the next decade; so if you’re on the brink of retirement, make sure your savings and investments are as healthy as possible.

Make an immediate appointment to talk with your investment advisor to assess where you are with regards to your retirement planning, and what you can do to get back on track.  While time might not be on your side if you’re of an older generation, those hitting 40-50 can still save aggressively with great results.  Apart from your 401(k) retirement fund, start contributing $500 - $1,000 a month for ten years to a brokerage IRA; assuming an 8% annual return rate, you can have anywhere between $268,002 and $550,000 by the time you retire at 65.

That’s a lot of cash to pad any unexpected bumps on the retirement road!

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401(k) experts!

Authored by Kenneth Himmler, Sr.

It may surprise you in this current economic climate that people are still thinking about retiring early, but there are an increasing number of people who fully expect to be able to retire and pursue their hobbies or volunteering for an extended period following their careers. What are the secrets to being able to lower your retirement age, and enjoy an extended active retirement?

First you have to commit to this goal. We’ve all heard the advice about not buying lunch out, skipping the Starbucks, etc., but someone who has early retirement plans follows through on that advice. There’s no doubt that you need to save with a passion, and this is where the majority of would-be early retirees will fail to maintain their discipline.

Secondly, the money you save must be made to work, which may mean an aggressive portfolio and certainly means choosing investments with low expenses. For this you need a great investment advisor such as Ken Himmler (www.kenhimmler.com), who is experienced in helping people meet their goals.

Thirdly, you need to realize that everything you do is working towards this end, and be happy not to upgrade your kitchen or buy a new car every other year, like your neighbors. If you get a raise, celebrate by opening another investment account. If you can work a second job, use that money entirely for your savings. In the long run you will probably have a much more satisfying life.

Lastly, and provided you can accomplish the first three things, when you achieve your retirement living at an early age you’ll find that you need purpose and direction in your life, and you should plan to pursue your dreams. Expect to live on your investments, even though some hobbies turn into paying endeavors. Make sure you have good investment management in place, with a company like Integrated Asset Management (www.iamllc.biz), who can continue to look after your funds into the future.

Authored by Kenneth Himmler, Sr.