Daily Archives: July 4, 2017

Santa Fes Independence Day tradition of Pancakes on the Plaza and the classic car show is something I look forward to each year. Its always fun to see a wide spectrum of city residents enjoying the day while also supporting good causes.

But the concept of Independence Day doesnt only mean pancakes, cars, fireworks and flags. It can also be applied to your personal finances. Are you currently financially independent, or headed in that direction?

For Baby Boomers who have retirement in their sights, and are aiming for financial independence, here are some planning items to consider:

Where will you get retirement income? According to research firm Standard & Poors, Americans 65 and older, on average, derive 33 percent of their income from Social Security, 32 percent from earnings from work, 21 percent from pensions, 10 percent from investments and 4 percent from that catch-all category dubbed other. That last category may include rental income and gifts.

If you are preparing to retire in the foreseeable future, now is a good time to evaluate the various income streams available to you.

Will your money last as long as you do? The number of Americans living to age 100 is skyrocketing. According to 2016 data from the Centers for Disease Control and Prevention, the number of people reaching the century mark grew 43 percent between 2000 and 2014. Its true that medical science and lifestyle improvements, such as car safety and reduced rates of smoking, are lengthening our life spans. Nonetheless, a longer life requires more money and therein lies the problem for many people. Long gone are the days when people retired at 65 and passed away a few short years later. Todays 60-something retiree needs to be certain his or her available resources will cover the expenses for several more decades. It doesnt cut it anymore to estimate your life expectancy based on how long your parents lived.

Will your investments weather a severe market downturn? The market crash of 2008 is still fresh in most of our minds. Unfortunately, many investors panicked and sold out, locking in steep losses. Others invested only in big American stocks, which suffered a lost decade between January 2000 and December 2009, posting a total decline of 9.1 percent. During that same decade, other types of assets, such as bonds, smaller U.S. stocks, real estate investment trusts and international stocks, finished with sizable gains.

An overreliance on any one type of investment results in inappropriate levels of risk. In the next major downturn, these risky portfolios are likely to fall sharply, which could lead to new round of panic selling. Before that occurs, determine the level of risk you are taking. Will your portfolio generate the return youll need for the next few decades, while allowing you to sleep at night without worrying about losing all you have?

How much can you spend in retirement? You may have heard of the 4 percent rule, popularized in the 1990s by financial planner William Bengen. In a nutshell, this formula suggests withdrawing 4 percent a year from your investment portfolio, increasing the dollar amount each year to adjust for inflation. In theory, this amount should give you enough income for the next three or even four decades. However, that rule has been questioned recently for one glaring reason: Interest rates are significantly lower today than 25 years ago.

Instead of relying on a quite-possibly-outdated formula, start by getting a handle on your expenses. Forget the tired old advice that your expenses will decrease in retirement. As it turns out, plenty of research shows that expenses may actually go up for younger, active retirees who want to travel and engage in long-neglected hobbies. Maybe it sounds like fun to spend $15,000 or $20,000 per year on world travel, but is that realistic? Consider doing a financial plan, which will show how much you can spend, how your investment mix is likely to perform over time, how much you can leave to your family or favorite causes, and whether an event like a major illness could dash your hopes.

Unfortunately, theres no one-size-fits-all number or rule for retirement. Each situation is unique, and each requires its own deep dive into not only the numbers, but also the human factor: How do you envision your own financial independence? Thats hardly something you can find in a mathematical equation.

If you would like more information about planning for the retirement of your dreams, I am hosting a seminar, Secrets To Achieving Financial Independence from 12:30 to 1:30 p.m. July 12, at the La Farge Branch Library, 1730 Llano St. Call me at 844-507-0961, ext. 702, to reserve your space.

Kate Stalter, founder of the independent firm Better Money Decisions, helps people throughout Northern New Mexico plan for retirement. Contact her at 844-507-0961, ext. 702, or kate@bettermoneydecisions.com.

See the original post:

Plan a financial Independence Day for retirement - Santa Fe New Mexican

Quiet pilots about football because we see mutual love and fantasy leagues that Spiezio. And receiver Roy you know I just always always on the net and controversy in big plays to talk about. 8713 thirty KN SA has got Borger Stephen Ted in the morning thank you for doing this in here on. Monday July 3. Many of you out there probably taking a day off. 648 now Wall Street into the second quarter was slight gains industrial stocks and consumer focused companies led the gainers. The S&P 500 index rose three points Friday the Dow gained 620. NASDAQ lost three points. And benchmark US crude oil rose slightly above 46 dollars per barrel now predict things. President drugs we continue targeting his media. Music and fireworks celebrations step for downtown Wichita through the block heads up your next paycheck would be smaller at Kansas income tax hike. It. And traffic so far this morning things looking pretty good out there. He said people may be taken the day I'm myself I'm not seeing and as much traffic volume at this time as I usually do just in the morning quick break the sport. Yeah and I was nothing there taking a look at the cameras just. No there's plenty of areas where there's some traffic but it's just not nearly as heavy as easily as itself had very well that being just. Fewer people on the roadways this morning not seen any big traffic types but remember if you do. It was it was called track Scotland that number 86913. Thirty. Traffic updates cape and it's as radio I'm jazz chambers I partly sunny today with a 30% chance for rain. And a high of ninety degrees 70% chance for showers and storms tonight. You overnight lows seventy. Answer Tuesday to borrow Independence Day in 60% chance for rain with a high of 86 degrees. Now mostly cloudy cold and seventy degrees. Are you ready for golf boating and all the other outdoor activities that come with a time of year. Don't forget your hat for ultimate sun protection goes through the best election in two out of the best service at pat and Jack at the clock tower in the Leino had meant Jack. It's 649 alma at 650 with Stephen Ted Silicon Valley investor. Dave McClure says he is sorry for making inappropriate advances. Towards several women and workplace situations and is giving up leadership of the venture capital fund. He co founded. 500 startups. But clues apology title I'm a creep I'm sorry. Follows a New York Times report on sexual harassment in the tech industry. That described offensive behavior by McClure and other prominent venture investors. Reports of sexism in the industry are not you but more women are speaking out. And telling their stories. The heat is killing cows in California so many of them. The disposing of the bodies is a problem central California's largest rendering plant. Is overwhelmed by the number of cows that died during a June heat way national officials are allowing. Dairy farmers to bury or compost hundreds of carcasses. The unusual run of heat last month including nine straight days of triple digit temperatures. And a mechanical malfunction that baker commodities and contributed. To the overload at the plant tool. Lost of accounts in the middle of dual use oak apple aren't used to that carcasses. 651 now Steven and Ted and a financial Independence Day let's find out more was done grants the FB the money track. Will celebrate the nation's independence tomorrow on July 4. We commemorates the adoption of the declaration of independence 241. Years ago in 1776. The thirteen American colonies finally declared that they were a free nation we are no longer a part of the British empire. Independence carries with it a lot of freedoms but it also has a tremendous amount of responsibility. As does. Financial. Independence. Financial independence is something that many of us strive for. That means we worked to sever the dependency bonds that highest to our jobs because of our expenses mortgage debt. Retirement savings plans and other basic expenses meet or exceed our income up. So we need to continue to work to keep up with those bills the only way to stop that cycle is to celebrate financial independence. Is to grow our asset base higher than what is needed for us to spend. How can you get to this point on there are several solutions version could experience a windfall of cash. And inheritance a sale of an appreciated business or real estate asset. Can't propel you into financial independence. Hard work that has financial reward with no earnings ceiling may take a worker there salespeople. May exceed sales goals and grow and asset base that provides more income than what is needed to support a lifestyle or you could create several streams of income investments a business too realistic and then finally you could work hard and spin less than you may. Allowing yourself to. Build up enough to cover your lifestyle expenses those are financially independent realize that they need to live well beneath their means to reach their goal. They learn to accept delayed gratification. And they keep their income moving forward. As they secure higher income they continue to hold back on their lifestyle. And will only increase spending when they are secure that they will not slip backwards financially. Risk management is a key to independents as well insure your financial future by covering for things. That are out of your control men of course if you have any questions you can give me a call. 6342222. Man happy fourth of July. Thank hit on today's Monday July 3 and a on the ads in yesterday's high by the it was ninety degrees and Wichita on normal on 91 and on this date in 1980. The high image dollar reached 101. The and that was a first of eighteen consecutive days. Where the temperature exceeded 100 degrees in which it out I'll be one of the coolest days that we would see the course of the next three weeks it would become the second longest streak of 100 degree plus days in Wichita as climatic history. The record is too funny. Set from August 7 to August 26 1936. In the middle of the dust bowl and preparation people and no air conditioning had no. Art in his. Tough times you just broiling for three weeks of summer of 1980 was a bugger it was bad. I'll never forget it help. And I hit some bad things happening to me at work. Adamant now abs yeah that was December. And think we're going to work and a just completely crummy summer. 1980 OK today as we mentioned this with the Tom littler. Littler commodities that today is national eat beans today. And we probably should unsure sort of survey about our favorite beings as navy beans and mark and it. Pork and beans pork and beam all green beans with some onion and some. In some bacon and there. Where is not my wife loves fresh green beans the Hugo. Extreme danger downright pretty tasty yet. How about well my grandmother made written great rescue would baked beans. With chopped pineapple and little sausage ball pool. That's as good as tasty. And goals always to get as many sausage balls loaded in the mind are you ago must act my helping as possible. On a dirt to invite dad's favorite saying because he he really couldn't swear he'd been raised by Methodist ministers. Three regions where much. But if you that's embody wishful you know once it's in there that are full of baloney. But the full of people Baines the other. I hope no one thinks we're probably did. National eat beans it may literally be at some point in sixty day I had both safe coming up at 7 o'clock McCain is this morning news was Steven's dad that. A building fire in downtown which is so we're gonna talk about that all the news coming up Stephen dead on tape and assess.

View post:

Steve and Ted: Independence Day and Financial Independence Day - KNSS

Celebrate your financial independence this 4th of July Kansas City Star As a financial planner, I urge my clients to plan for their own personal financial independence day. The day when you are free! And it means different things to different people. Maybe your goal is to be free from work (retirement), free from debt, or ...

See the rest here:

Celebrate your financial independence this 4th of July - Kansas City Star