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Over the past year investors saw a number of events affect the market, from the first ever U.S. credit rating downgrade to the earthquake and tsunami in Japan.
Without the benefit of a reliable crystal ball, it’s impossible to identify all of the factors that will affect the markets in 2012. If history is any indicator, there is a good chance that three factors could dominate headlines in the coming year.
December 2,2011, marked the ten-year anniversary of Enron declaring bankruptcy.
Enron, you might remember, was a Houston based energy company that had a historic fall from grace. There are many lessons to be learned from the Enron collapse, but one important lesson is the importance of diversification.
This is an exciting week in our office, and no, it’s not because the World Series has started, (well, maybe a little because of the World Series) it’s because we are in the midst of National Save for Retirement Week.
Retirement confidence reports continue to paint a picture of American workers unsure of their retirement future. According to a Sun Life Financial survey, one in five workers indicate they will not retire, and only 23% felt ‘very confident’ that they would be able to “meet basic living expenses in retirement.” It is startling to hear these numbers and know that only about 42% of workers, according to an Employee Benefit Research Institute (EBRI) study, have tried to figure out how much to save to reach a comfortable retirement.
These survey results are a signal that change is in order for the American worker to start taking control of their own future.
The following is a guest post from James Garvin, the co-Founder of FiGuide.com.
Preparing for retirement can seem like an uphill battle, especially if you didn’t start early. Sue Bradley, a subscriber to the FiGuide.com daily retirement tips, recently sent an email asking for advice. In her mid-forties, Sue felt she wasn’t adequately prepared for retirement and wanted to know what she should do.
According to Lon Jefferies, a contributing financial advisor at FiGuide, she isn’t alone. In fact, according to a survey conducted by Deloitte and the International Foundation of Employee Benefit Plans, 82 percent of people with 401k plans aren’t properly prepared for retirement.
Over the years I’ve come to realize I grew up with a smart group of friends. It’s sometimes strange to think that we have grown up to become doctors, lawyers, engineers and economists. While I’ve always felt a little intimidated when they said words like myocardial infarction (heart attack) or jurisprudence (theory and philosophy of law), I recently noticed that they sometimes feel just as lost when I start talking about finance.
Like many in my profession, I take for granted my knowledge of personal finance and expect everyone to know and understand the basics when I start talking. Because of this, I’ve decided it’s time to take a step back, and get back to basics. In conjunction with National 401(k) day, which is tomorrow, I want to discuss some basic elements as they relate to investing and 401(k)s.
When most people think about creating a nest egg for their retirement, one thing usually comes to mind, choosing investments. While very important, investing is not the only tool that should be used to build retirement income.
In his latest submission to the U.S. News & World Report Smarter Investor blog series, Smart 401k CEO Scott Holsopple discusses the other, equally important tool for building a retirement nest egg, saving. Once the importance of saving for retirement is understood, you can then examine your retirement plan as a whole.
With so much instability and headline-grabbing events in the market lately, it can be easy to act suddenly when it comes to your 401(k) investments. While it may feel like you are gaining control, you could be hurting yourself in the long run.
In his weekly submission to the US New Smarter Investor blog series, Smart401k CEO Scott Holsopple offers readers a few questions to ask themselves to help gauge their risk tolerance before they commit to any changes in their retirement investments. He also offers advice on what action to take once you have
During these last few weeks of market instability I have heard one question from investors more frequently than any other, “The market seems to being doing badly, should I move to cash until things get better? “
While the response depends on the particular investor, the answer is usually, “no.”*
It is human nature to want to avoid short-term discomfort, even when we know it may cause greater pain down the road. There are many cases when people look to ease their current burdens, not thinking of the problems it may cause in the future. As investors we are sometimes tempted to act this way during periods of high market volatility or market downturns.
Having and using applications (or “apps”) on a smartphone has become status symbol for many people. But these apps can provide more than just a way to pass the time (I’m talking to you Angry Birds).
There are a number of financial apps that can help keep people at every investor level engaged in their finances.
Sifting through the thousands of financial apps available is a daunting task. Here are the five apps I find most helpful for anyone looking to learn top personal investments, tricks for keeping finances and financial and investment news. Most of these apps are also compatible on the Iphone.
Several years ago, while on a road trip to New England, my friends and I spent a few days camping and hiking in Acadia National Park, located on an island off the coast of Maine. Being at one of the easternmost points of the country, we decided to climb one of the mountains on the island in the early morning so we could be some of the first people in the United States to see the sun rise.
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