You retire only once, so its important to get it right the first time! But how do you know if you’re truly prepared financially.. to retire? According to an MIT Economist, it starts by answering 8 essential questions with clarity, and confidence. Then there are several time-tested rules of thumb to determine if you have enough to retire for the long haul. If you’re in your 50’s or 60’s and retirement is on the horizon for you in the next 3 to 10 years learn what these 8 questions are and how to know if you truly have enough tucked away. You don't want to miss today's show--MASTERING MONEY is on the air!!
Are bond mutual funds safe? Are they a good source of retirement income? Do they belong in your portfolio, and is this a good time to own bond mutual funds and ETFs—Today we’ll review how the bond market works and how bond mutual funds can indeed lose money-- rather easily-- in a market like this. Also is it possible to find a safe income of 7.3 percent to 8.3 percent, rather than sitting around in low duration bond funds, steadily losing money? You've got questions, we've got answers! MASTERING MONEY is on the air!
It’s 2018 and Americans are more burdened by student loan debt than ever! In fact, the average student loan debt for Class of 2017 graduates was $39,400*-- up six percent from the previous year. You’ve probably heard the other scary statistic: Americans owe over $1.48 trillion dollars in student loan debt. That’s about $620 billion dollars more than the total of all U.S. credit card debt! And now, a fast growing new class of student loan borrower is developing: those who owe one million dollars or more! And I'll bet you didn't know their loans get forgiven once they hit $2 million dollars! The fact is that most student loans will likely never be paid back. Today, we'll explore the problem and how it could affect YOU--even if you are an innocent retiree, simply minding your own business!! MASTERING MONEY is on the air!!
Do you know the five secrets to happiness in retirement? Five major factors were repeated most often in a recent study of 1,400 retirees in 46 states. This study, combined with the University of Michigan Health and Retirement Study found that money DOES buy happiness up to a certain point, but once that dollar number is hit, more money does not make you any happier! Here's a hint: the number is less than a million dollars but more than half a million. We'll reveal the exact number found in the study, plus the number one FACTOR leading to happiness, which is NOT money, cited by eighty-one percent of all those surveyed.
MASTERING MONEY is on the air!
New research published in the Wall Street Journal has determined that the long-standing 4% withdrawal rule for retirement income has officially changed to the THREE percent rule. That's right--while you were minding your own business, you got a pay cut and it could be permanent if you continue to follow the conventional wisdom! The biggest names in the retirement research arena have begun to warn that following old rules and old assumptions can put a retiring couple at great risk of running out of money due to two key factors: We'll tell you what they are and how you can turn the numbers around to work in your favor with a unique NEW strategy!! MASTERING MONEY is on the air!
Yesterday on Mastering Money, we reviewed what are known as non-spouse inherited IRAs. We learned that the rules for IRAs left to a brother, sister, niece, nephew, or other non-spouse have very specific rules that must be followed to a “T” by the beneficiary. Today, we'll review the many choices that a surviving spouse has when inheriting an IRA, including whether or not to take over the IRA herself or to remain a beneficiary, and three key strategies for making sure your surviving spouse is well taken care of, even without buying any life insurance. You've got questions, we've got answers--MASTERING MONEY IS ON THE AIR!
If you are the son, daughter, brother, sister, or even a close friend of an IRA owner who has named you as their beneficiary, it's important that you—and the owner of the IRA—understand the rules that govern IRA inheritances. Inherited, NON-SPOUSE IRA’s are a relatively new topic, and often misunderstood. One of the most common mistakes is the assumption that the non-spouse beneficiary can move the IRA into his or her own IRA. That’s not allowed. It must remain separate. There are some very tricky rules that you will want to be very clear on---but we will simplify them for you today in the Market Intel segment. Then agricultural commodity expert Terry Shveda with Decadian joins us for the Q & A. A big show today that you DON'T want to miss! MASTERING MONEY is on the air!!
...It’s a MOTLEY FOOL MONDAY!! The Motley Fool Money Show is one of America’s most popular radio programs dedicated to making money in the Stock Market. It's been heard by millions of listeners over the years across America--including right here on Money Radio, and now you can hear a special broadcast every Monday as part of MASTERING MONEY on Money Radio, presented by IQ Wealth. Get background on the week's top business and investing stories plus an inside look at stocks on their radar...It's a power-packed show for you today that you don't want to miss...MASTERING MONEY is on the air!
From 1989 to 2008, a twenty year time period, the S & P 500 averaged an 8.43% return. Because of the large bull run in stock in the 1990s, many people decided to retire right at the top in 1999. Having gotten used to 20% annual returns, many of those new retirees expected they could comfortably withdraw five percent annually from a fully invested equity account, and still watch their total net worth grow over time. Today, find out why an engineer in his sixties who retired with a million dollars--all in blue chip stocks at the end of 1999, was left with less than three hundred eighty five thousand dollars just three years later--with thirty years to go in retirement. Did he get a "do over?" Unfortunately not! Find out what he got instead, in today's Market Intel segment--it's one that you definitely do not want to miss! MASTERING MONEY is on the air!
When is the best time to retire—during a bull market or a BEAR market? Studies show that every one percent gain in the S & P increases the likelihood of those considering retirement to take the plunge and retire, by a factor of 2.5%. In other words, hard data shows that a person on the verge of retirement is 25% more likely to go ahead and retire if the S & P is up by 10%. If it is up by 20% the likelihood of deciding to retire rises by 50%. So, most people choose a bull market to retire into. Here’s the problem—retiring near the end of a bull market increases the risk of income failure in retirement-- dramatically! On today's show, we'll share data on just how risky it is to retire into an aging bull market, especially with these low interest rates. Steve will then explain how clients are retiring on a six figure income even if they don't have a million dollars. MASTERING MONEY is on the air!!