http://www.youtube.com/watch?v=Ak8xnGswZzQ
Disclosures:http://www.hechteffect.net/?page_id=31
Category Archives: investing
A question about dividends.
Q: If I just want dividends, do I care what is happening to the price per share?
A: Not really. Whether it is a stock or a bond fund paying the dividend, what you receive is based on the number of shares you hold. If the number of shares remain the same and the dividend per share remains the same, the price per share does not matter if all you are concerned about is the dividends paid to you.
disclosures:http://www.hechteffect.net/?page_id=31
Your biggest retirement risk may be longevity.
You have done it all the right way: exercised, ate right, and did not indulge in too many vices. This clean living may cost you in the long run – if you take Social Security too early.
If you delay taking Social Security, you will have a bigger check, it is that simple. Many of us are tempted to start drawing at age 62; however, if you can wait, please do. I hear all of the reasons: Social Security is going to run out of money, “I have paid in for so long I want to get every cent I can as soon as possible”, and “I have no idea how long I will live.” Let’s just take a step back from these arguments for a moment.
If you pull Social Security prior to full retirement age, you will pay in extra tax and penalties depending on your income. If you delay taking benefits until after full retirement age, you will receive a credit of approximately 8% each year you delay. With the average life expectancy today being 86yrs. of age, the decision as to when you start Social Security becomes a very big decision.
So pat yourself on the back for the wonderful healthy way you have been living your life. Crunch the Social Security numbers while you are crunching your abs. You just may be able to win the longevity race fiscally as well as physically by delaying Social Security.
disclosures:http://www.hechteffect.net/?page_id=31
The Currency of Love
The currency of love goes a long way and can be some of the most secure currency around. Love, such as the love of a child, can bring a bounty that is hard to quantify but endures for generations. Love for a spouse or significant other often brings feelings of joy that you want to spread around and a bounty of riches that are too big to measure.
On this day that we celebrate love – kiss someone that you love – let the currency fly like a bag of money that fell off of a truck.
Happy Valentine’s Day!
Here is a little piece I did for channel 13.
Plan your exit – the last chapter.
To roll or not to roll, that is the question. Many people leave their 401k with their company when they retire vs. rolling it to an individual IRA; there are pros and cons to this approach.
In the past, 401k accounts have been cheaper. With the new regulations to disclose all fees, this may not be the case. If you roll your 401k into an IRA account, you will generally have much more investment freedom. If you have changed jobs throughout your working life, make sure to track down all of your old 401k accounts and consolidate them into a single IRA for easier accounting and reporting.
disclosures:http://www.hechteffect.net/?page_id=31
Will I pay a penalty on my Social Security?
Q: If I start taking Social Security at age 62 vs. my full retirement age of 66, will my pension count against me for tax purposes?
A: There are two issues to look at when taking Social Security benefits prior to your full retirement age. One is will there be a penalty against your Social Security of $1 for every $2 paid. The second issue is will your Social Security benefit be taxed as ordinary income. Pension income is not considered earned income and, therefore, will not be charged the penalty. You may have to pay ordinary income tax on up to one-half of your Social Security benefits due to your pension and other forms of income.
disclosures:http://www.hechteffect.net/?page_id=31
Plan your Exit – part 2
Fewer than 10% of private employers offer insurance to retirees, though we all are eligible for Medicare at age 65. If you are offered health insurance as a retirement benefit – grab it! Having health insurance through a group, even as a retiree, is always less expensive than as an individual. But health insurance isn’t the only issue.
Many employees have life insurance as a benefit, generally at least one time your salary. Often, as a retiree, you can take this coverage with you but you will now have to pay the annual premium out of pocket. If you still have a mortgage or kids in college you may want to continue this life insurance.
Long term care insurance you had as a benefit is also one that you can take with you. Again, you will have to pay the premiums yourself but this expense is well worth it.
Disclosures: http://www.hechteffect.net/?page_id=31
Plan your Exit.
You are ready to walk out of the corporate door, have the retirement party, say good-bye to your co-workers. Are you also ready to say good-bye to your benefits?
Over the next few blogs, I will give you tips on how to plan your exit. Today, we will look at squeezing out those last few dollars. It is all in the timing.
When does your company credit the employees with the 401k match? Most companies have a regular time table to matching 401k contributions. Look at your last few pay stubs to see when that deposit is made. This is “free money” that you don’t want to leave on the table. Another monetary perk to pay attention to is profit-sharing. Most companies make this contribution once a year, generally at the same time each year. If you do not know when your company doles out the profit sharing, ask your H.R. department.
Lastly, make sure you know the rules for cashing out your unused paid leave and sick time. Does your company have a “use it or lose it’ policy, or can you bank the unused time and have it paid out in a lump sum?
Check these things out before you plan the retirement party. Next, I will discuss your retirement insurance benefits.
Disclosures:http://www.hechteffect.net/?page_id=31
Listen to me this Saturday on 96.5 FM.
Be sure to catch “On The Money”
This Saturday hear
Nancy Hecht and Joe Bert
co-host our program
“On The Money”!
They’ll be discussing . . .
To buy out or not –that is the question?
• When do I take my pension?
• When do I start drawing from my retirement accounts?
• What do I do with all of this money? I am not married and do not have children.
Call or eMail
your questions:
407-290-0058 OR
1-800-328-5858
Nancy@FinancialGroup.com
Joe@FinancialGroup.com
Call in your
questions at
407-290-0058 OR
1-800-328-5858
Listen for details about
our upcoming workshops:
Social Security:
Maximize Your Benefits
Thursday, January 24, 2013
6:45 p.m.-8:30 p.m.
Countdown to Retirement
Saturday, March 2, 2013
11:00 a.m.-1:00 p.m.
Tune in for
“On The Money”
Every Saturday
on WDBO at 9:00 a.m.
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WDBO offers a variety of information radio talk programs on a variety of topics. For nearly 20 years, Certified Financial Group has been the selected host for the 9:00 a.m. Saturday time slot to discuss topics pertinent to the financial world.
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