Financial Information

The economy has been hitting your retirement fund hard.  Between the fluctuating market to the threat of inflation, it’s no wonder that you’re worried about the health of your retirement savings – and are possibly tempted to just put off saving for retirement until the recession disappears.  However, now is not the time to give up! 

We’ve got four of the easiest yet most effective weapons you can use in the battle against a downturn economy – so you can spend more time planning your dream Florida retirement and less time worrying about the current bear market.

Buy More Bonds.  Now that stocks are wildly fluctuating, it’s time to chuck some of your riskiest stocks in favor of safe investments, like bonds, TIPS and CDs.  Ask your investment advisor which investments will best balance out any losses you may incur due to shaky stocks. 

Become An Entrepreneur.  For many retirees, quitting their day jobs just isn’t an option.  If you want to look for something to do during your retirement, why not dabble in a bit of entrepreneurship?  Sell your crafts online, write articles for newspapers or invest in real estate – whatever you choose, make sure it can make you money!

Keep A Constant Check-up.  It’s important to talk to your investment advisor about the health of your investments every year, no matter what kind of condition the market is in.  Make sure your portfolio is continually updated so that you’re taking on the appropriate amount of risk for your age.  Remember, you want your investments to be more conservative the closer you get to your retirement age. 

Consider Moving Up Your Retirement Age. If you saw a sharp decline in your 401(k) retirement fund as a result of the recession, consider retiring between the ages of 65-67.  It’s going to take just under two years in order to recoup any losses that you may have experienced, so working just a few more months can make a huge difference.

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored By Kenneth Himmler, Sr.

Let’s face it – unless you’re a savvy saver, you’ve probably lost sleep over your impending retirement at some point or another.  Maybe you’re worried that inflation will eat away at your 401(k) retirement fund, or you won’t be able to afford rising medical costs in another decade or two.  Whatever the case may be, it’s time to acknowledge some ingenious solutions that will improve the health of your retirement savings – not to mention help you to sleep better at night!

When it comes to a smart and comfortable retirement, you’ll want to pay off any toxic debt before you hit your retirement age; this means that any credit card debts you have will need to be tackled before you can give that retirement speech.  If you’re approaching your estimated retirement age, devote a larger portion of your income to paying off those credit cards; you don’t want your hard-earned savings and investments going towards toxic debts instead of the possibility of a Florida retirement, do you?

It’s easy to give in to worry if you don’t have a firm idea of what your retirement assets include; if this sounds familiar, then schedule a meeting with your investment advisor and get a hold on where you are at this current point in time.  Additionally, if you’re worried about Medicare, make sure that you have a health insurance policy that will cover long-term hospital stays, which Medicare doesn’t cover.  If you’re still worried about healthcare costs in your retirement, take a proactive stance by taking care of both body and mind.  Eat a healthy diet and get plenty of exercise, and you’ll hardly have a need for those health insurance worries!

Additionally, make sure you plan ahead for that transition from employee to retiree.  In many cases, it can take some time before your savings and investments become cash in your bank account, so don’t let this transition knock you out of your stride.  Your registered investment advisor should be able to help you with this all-important transition.

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401(k) experts

Authored by Kenneth Himmler, Sr.

It is surprising to me how many people I speak to who think that when they reach retirement age they will sell the family home and move to a new area that has appealed to them in the past. The idea of a Florida retirement, for instance, is one that is deep rooted in the collective consciousness. There are pitfalls in such an approach, and it needs careful consideration before any drastic steps are taken that may be regretted later.

The principal problem appears to be that people expect to be able to dramatically change their lifestyle for the positive, without taking account of possible negatives associated with the move. The classic issue is not having any friends in the area, but unfamiliarity with the area facilities and even the shopping can also make retirement living disappointing.

If you are financially able, you might want to consider buying an investment property in the area that you think you want to retire to, and try it out on vacations to see how you cope with the differences. A vacation will always be a different experience from living there full-time, but your property investment can be sold on if you find you are getting doubts about your retirement plans.

If Florida is a place you are considering, you will find that property there is exceptionally good value right now. In some areas, it is selling at less than half its previous price. While the bottom of the market may or may not have been reached, second homes there are now very affordable, and this may be the best opportunity to enter the market that you will see.

Of course, when considering a major purchase you should consult an expert for investment advice, and Ken Himmler (www.kenhimmler.com) and Integrated Asset Management (www.iamllc.biz )

will be able to advise you on the best way to approach the issue of buying another property. You should always take into account any tax issues, either present or future, which this might create, and consider which investments should be liquidated, if necessary, to afford the retirement home of your dreams.