Credit Debt Loan Information You Need Right Now

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.

Like many baby boomers, you’ve probably been told by more than one person what your ideal retirement age should be – there are even policies that dictate when you should retire!  Since the average retirement age is 65, many baby boomers like yourself believe that’s when the career should be hung up and life as a luxurious retiree should begin.

Or should it?

Turns out, many people are unable or simply unwilling to retire at the age of 65.  With more baby boomers than ever taking out part-time work to supplement their retirement savings or for personal fulfillment, many financial experts are discovering that when it comes to your ideal retirement age, it’s not so black-and-white.

So when is the right time to take up your retirement?

In order to identify your ideal retirement age, you need to look at several factors, including the health of your savings and investments, how fulfilling your current career is and when you’d like to retire altogether.  For some baby boomers, 65 is the perfect age to retire, since they’ve devoted their whole lives to working and now just want to kick back and relax.  For others, their careers are an important part of their identity, and will therefore want to retire later.  How attached are you to your job?  If you’re required to retire at 65 or simply don’t want to, you can take out part-time work in your career field so as to continue enjoying the job you love.

Additionally, you’ll need to examine just how much you’ve saved up.  An important part of retirement planning involves saving up enough money for that target age of 65.  If you’ve been particularly savvy with your retirement savings and can retire sooner, then go ahead.  If, however, you got a late start on your nest egg, then you may need to retire later in order to enjoy a financially secure future.  Unfortunately for some, retirement savings will dictate the ideal retirement age. 

The point is that there is no ideal retirement age.  You can choose to retire at 65, work longer or retire at a young age – whatever the case, when you retire is a personal and financial decision that should be partly made based on the advice you receive from your investment advisor.

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

Authored by Kenneth Himmler, Sr.