Comments on: Are You Properly Dealing With These 5 Risks to Your Retirement Savings?

By: 4 Benefits of Using a Retirement Calculator | Redeeming Riches

4 Benefits of Using a Retirement Calculator | Redeeming Riches — Mon, 13 Dec 2010 11:59:20 +0000

[...] you it can give you a much better picture of what your golden years can look like and how to avoid retirement risks as well as plan to make your dreams come [...]

By: 4 Things to Consider When Getting a Pay Raise | Redeeming Riches

4 Things to Consider When Getting a Pay Raise | Redeeming Riches — Mon, 13 Sep 2010 13:44:05 +0000

[...] means more money for you and a more comfortable lifestyle for your family? It certainly can, but there are risks even here. I know of people whose pay raise actually pushed them into a new tax bracket, meaning [...]

By: buy structured settlement

buy structured settlement — Thu, 29 Jul 2010 07:33:47 +0000

Thank you for another great post about How Are You Handling These 5 Risks to Your Retirement Savings? | Redeeming Riches. Where else could people get that kind of info in such a perfect manner of writing? I have a meeting next week, and I am on the look out for such information.

By: Jason

Jason — Wed, 30 Jun 2010 02:43:08 +0000

FinEngr – Good way to put it – “Predicting longevity is the BIG X-factor”!

By: FinEngr

FinEngr — Mon, 14 Jun 2010 16:24:04 +0000

Good points! Especially about the longevity risk. I wrote a post way back when “First, set age to retire. Second, set age to die.”

Trying to predict how long you’ll live is a BIG x-factor. You lay it out clearly in the last sentence – 30 years of retirement to pay for!

By: How to Pay Off Your House (and everything else) Early

How to Pay Off Your House (and everything else) Early — Mon, 14 Jun 2010 09:02:24 +0000

[...] You have $2,000 in a savings account, nothing set aside for emergencies, you are on target with retirement investments and you have two children, ages 4 and 8. Your challenges are to not only get your house paid off, [...]

By: Financial Samurai

Financial Samurai — Sat, 12 Jun 2010 13:05:21 +0000

Good point on Fraud Risk Don-San. Can’t believe Madoff, if you can imagine losing everything one day after a 12% return every year.

Kevin hit it on the head as well… we still gotta pay taxes on our 401k!

Cheers,

Sam

By: Money Reasons

Money Reasons — Fri, 11 Jun 2010 15:03:14 +0000

I’d like to bring up the risk of fraud.

As we get older, we are more acceptable to identity theft and other scams. While I’m not exactly sure of the way to counter these risks, we should all be aware of them. Perhaps have a son or daughter help with financial decisions? I don’t think there is an easy answer to this type of risk, but it does exist! Perhaps this is a good area for the church to assist! Perhaps churches could create a financial review group to help retirees with money decisions?

Trick any way you look at it!

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Fri, 11 Jun 2010 12:33:10 +0000

Number 5 is a big one and it never gets mentioned in the financial press. It’s as if it doesn’t exist. You deserve a lot of credit for making people aware of it.

Tax deferred means tax DEFERRED–you’ll pay taxes on it later. It doesn’t mean tax FREE!

If you have to rely primarily on tax sheltered accounts for your income in retirement, you could be facing a huge tax problem.

By: bern

bern — Fri, 11 Jun 2010 12:33:04 +0000

I have to disagree with diversifying between a 401k and a Roth IRA. All this strategy does is move one tax savings from one pocket to another.

Typically the argument is, “I don’t know where I’ll be tax wise, so I want to diversify my taxes.” Well, the question is simple, do you want to be rich when you retire? If so, you want to be taxed on the seed and not the harvest. In this situation, a Roth IRA is better.

However, I still wouldn’t invest in a Roth IRA. There are too many strings attached to the government’s qualified retirement plans. It’s easy to get money in, but difficult to access the cash.

I say, put your money in a vehicle that is liquid, safe, and interest earning. We use whole life policies to accomplish this. We create our own personal bank and there is on person that won’t be able to touch our gains…Uncle Same.