Most people look at the benefits they would receive today when making their decision about when to begin receiving their Social Security. They also underestimate how long they may live unless they already have medical issues that are known to reduce longevity. These two impulses cause many couples to begin their benefits too early which […]
Working or retired, the focus of most people is keeping their check book full of money for the monthly expenses they have. While working, the source of the money is obvious … it is from you working. While retired, the source of the money is less obvious … it is from your money working. So […]
Most people are aware of the 59 1/2 age rule to begin withdrawing money from an IRA without tax penalty. Few are aware that age 55 is when this applies to a 401k. What are your options? Caveat (of course): you need to have left your employer – how doesn’t matter – at 55 or […]
Whether you are still working, or retired, most people haven’t structured their budgets for spending shocks. In truth if you spend less than you could, regardless of working or retired, you build in a buffer that helps keep stress on your financial life lower. Most recognize the below as logical. Yet, many spend everything that comes […]
Most people are aware that they need to wait until they’re 59 1/2, or older, to withdraw money from their IRA without tax penalties. Many are unaware that they could, if needed, withdraw money from their IRA without penalty. This post isn’t about what is called 72t or Substantially Equal Periodic Payments per se. There […]
… and the not so young too. Turns out that the shift from benefits to contributions has caught the unaware and unobservant off guard. Long ago families lived near each other and took care of each other. With industrialization across the globe families began to move to industrialized centers (which became cities) and family care […]
Changes needed for Social Security to be better funded often ignore a simple point – who benefits from the change? Short answer – anything done, to improve funding, benefits our children and grandchildren. Social Security is a multi-generational program … people forget this when they view it as a government program and mentally picture government (bad) […]
From home-schooling our children to shopping at Home Depot, we’re increasingly a do-it-yourself culture, bypassing professionals to save. Why pay for professionals or experts when investing? DIY can play a role when you handle your money, just maybe not the role you think. Original blog … Do It Yourself (DIY) Investing? … that inspired my syndicated article below. […]
Short answer, it depends! I’ve written about reverse mortgages here before – mostly about how they can blow up the best laid plans by people not fully understanding what they’re doing – thus, unexpected consequences from misunderstanding. So this piece is about getting to understand them so you may be able to use the untapped […]
Pragmatic Capitalism. This is a great summary of many difficult topics to get your arms around normally. Roche does a good job summarizing many complex interrelations such as what is money, what you really do with your money in the economy, what the banks do and how the Federal Reserve, our central bank works in […]
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About Larry Frank Sr.
As an MBA and CERTIFIED FINANCIAL PLANNER™ practitioner, I help people make sensible plans for a successful retirement. I'm also the author of Wealth Odyssey, a book about financial planning. My retirement planning research is published periodically in the Journal of Financial Planning.
Have a Financial Question?
- Are market returns really the key to your portfolio value?
- Rebalancing? How does it work?
- Resources to help with aging issues
- The Dividend Income Illusion.
- How do Safe Withdrawal Rates compare to Dynamic Retirement Income?