Making your money last in retirement

Making your money last in retirement is similar in many ways to making your money last when you’re not retired. But, there are a few differences. The obvious one is that you don’t have the option of replacing money that you’ve spent, at least not...

Put yourself in lukewarm water

There’s a story that goes like this: Put a frog in a pot of hot water & it’ll jump out. Put it in a pot of lukewarm water and gradually turn up the heat, and it’ll sit there til it dies. The idea is that the frog won’t notice things are...

SIPP factsheet – planning for your future

A SIPP, or self-invested personal pension to give its full title, is a pension scheme that gives you the freedom to decide exactly how your pension fund is invested. As the name suggests, you make all the decisions yourself and have the flexibility to pick and choose...

Oh I’ll just work forever

You’ll hear it now and then — someone who says “Oh I’ll just work forever” when asked about their retirement plan. That’s their entire plan: just to keep on working. Now there’s nothing wrong with working. Some people enjoy...

Figuring out how much to save for retirement

For the past couple of years, I’ve answered the question of “how much should I save for retirement?” with “as much as I possibly can”. But that’s not really a very good answer, although it’s certainly better than what I was...

What on earth is a SEP IRA?

“Look into requirements for opening a SEP IRA” is listed as one of my goals for this year. That’s a pretty simple goal since it doesn’t require me to actually DO anything beyond check it out, but I have to start somewhere. So here we go: As...

Are you on track for retirement?

Funding retirement ought to be a priority for everyone, but based on the things that are often in the media (people raiding 401k accounts, baby boomers delaying retirement, etc.) it’s probably not. I know that I personally am behind on funding retirement, even...

Keep a long term perspective — but what about retirees?

I’m constantly seeing the urgings of investment institutions to “keep a long term perspective” on stock market investments. This makes complete sense, because short term investments that you actually NEED should be in less risky places. (And also...

Behind on retirement contributions

I’ve known for a while now that I’m behind on retirement contributions, but I finally really admitted it to myself in cold, hard numbers. Or I tried to, at least. It’s pretty hard to find a “number” that you’re supposed to have by a...