A couple steps to take for a happy retirement with a few slides on what I consider a fun retirement day.
Cheers
Friday, February 17, 2012
Saturday, February 11, 2012
When Plans Go Awry
Two days ago my employer announced plans to initiate a very large downsizing of the workforce. While I am personally safe in my employment it made me think of how easily plans can be changed. An event such as loss of a job makes the task of saving for retirement a near impossibility. The key to building retirement wealth is slow and steady contributing and letting the power of compounding work its magic. Without employment it becomes impossible to maintain the slow and steady contributing. For those in my company whom are effected my prayers are with you in hopes new employment comes to you quickly.
Two days ago my employer announced plans to initiate a very large downsizing of the workforce. While I am personally safe in my employment it made me think of how easily plans can be changed. An event such as loss of a job makes the task of saving for retirement a near impossibility. The key to building retirement wealth is slow and steady contributing and letting the power of compounding work its magic. Without employment it becomes impossible to maintain the slow and steady contributing. For those in my company whom are effected my prayers are with you in hopes new employment comes to you quickly.
Wednesday, February 8, 2012
Greece again oh brother
Another day and another set of articles about the impending Greek sovereign debt default. I find it quite amazing that world stock markets are so effected by the issues of a country with only 11 million people. The main fear is Greece is the first domino and will knock down the other dominoes known as the PIIGS. PIIGS or Portugal, Italy, Ireland, Greece, and Spain are all countries with extreme debt issues that have the potential to destroy the Euro as a valid currency. Billions are given to Greece to help it pays its debt even though a future default seems unavoidable. As countries such as Germany and France insist that Greece institute harsh austerity measures in return for aid, the Greek government drags its feet and delays the implementation of the required measures. It seems to me that a better plan might be to come up with a solution that insulates the rest of the Eurozone countries from a Greek default and bail out countries that have an actual chance of cleaning up their debt loads. I am of the opinion that German and French citizens should not be footing the bill for a country that is up to its ears in debt because of poor government management and well documented government corruption. While I feel sorry for the citizenry that must pay the price for poor leadership it is unfair to expect others to clean up decades of Greek financial mismanagement.
Another day and another set of articles about the impending Greek sovereign debt default. I find it quite amazing that world stock markets are so effected by the issues of a country with only 11 million people. The main fear is Greece is the first domino and will knock down the other dominoes known as the PIIGS. PIIGS or Portugal, Italy, Ireland, Greece, and Spain are all countries with extreme debt issues that have the potential to destroy the Euro as a valid currency. Billions are given to Greece to help it pays its debt even though a future default seems unavoidable. As countries such as Germany and France insist that Greece institute harsh austerity measures in return for aid, the Greek government drags its feet and delays the implementation of the required measures. It seems to me that a better plan might be to come up with a solution that insulates the rest of the Eurozone countries from a Greek default and bail out countries that have an actual chance of cleaning up their debt loads. I am of the opinion that German and French citizens should not be footing the bill for a country that is up to its ears in debt because of poor government management and well documented government corruption. While I feel sorry for the citizenry that must pay the price for poor leadership it is unfair to expect others to clean up decades of Greek financial mismanagement.
Thursday, February 2, 2012
Roth 401K
Just got word today that my employer will be offering the option to invest in a Roth 401K through Fidelity. Unlike the traditional 401K in which you invest pretax dollars you invest after tax dollars into the Roth. Why you might ask is this a good thing you are not enjoying the tax relief of investing pretax dollars? What makes the Roth 401K attractive is there are no taxes on the gains provided you do not withdraw from the account before 59 1/2 years of age. Imagine 30-40 years of compounding interest with no taxes due at the end. That sounds almost too good to be true and I will be taking advantage of this investment option when it is made available.
Just got word today that my employer will be offering the option to invest in a Roth 401K through Fidelity. Unlike the traditional 401K in which you invest pretax dollars you invest after tax dollars into the Roth. Why you might ask is this a good thing you are not enjoying the tax relief of investing pretax dollars? What makes the Roth 401K attractive is there are no taxes on the gains provided you do not withdraw from the account before 59 1/2 years of age. Imagine 30-40 years of compounding interest with no taxes due at the end. That sounds almost too good to be true and I will be taking advantage of this investment option when it is made available.
Tuesday, January 31, 2012
Last Night's Tennis Results
Last night I was able to win my match in straight sets 6-3, 6-2. What does this have to do with retirement? The answer is absolutely nothing, but it is reminder to not let your retirement goals be all consuming. Life is short and you should always try to live in the moment as well as plan for the future. Retirement is an important goal for me, but I always try to remember to set time aside to engage in the activities that I enjoy.
Last night I was able to win my match in straight sets 6-3, 6-2. What does this have to do with retirement? The answer is absolutely nothing, but it is reminder to not let your retirement goals be all consuming. Life is short and you should always try to live in the moment as well as plan for the future. Retirement is an important goal for me, but I always try to remember to set time aside to engage in the activities that I enjoy.
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