The Ramsey Show (February 14, 2022)

Life Cycle Funds

If we have money to invest for our retirement savings, whether through a 401(k) plan at work, in an Individual Retirement Account (IRA), or through taxable savings, we have an almost overwhelming choice of where to put that money. Of course we want the money to grow, but investing in growth entails market risk, and as we get closer to retirement, we can’t afford to take much market risk. So our investment needs evolve as we get older.

Preserve Your Assets

Economics directly affects our lives. Just because we never lived to experience an economic depression doesn’t mean we’re immune from such crises. The good news is that we can do something about it. Many individuals simply expect their financial planners to work the magic with their investments. Truth is that it doesn’t always work to their advantage. By gaining knowledge on current economic events you’ll learn how to preserve your assets and rely less or even dispute the recommendations given by your planner.

New Threats to Your IRA

The IRS is cracking down on violations of the rules around IRAs pertaining to missing required payouts, early withdrawals, rollover goofs, excess contributions, and other picky rules. That’s not a small undertaking and there’s a lot at stake. Americans hold $4.3 trillion in IRAs, and even the most innocent mistake can be harmful to your IRA.

The Hutton Report and an EU Ruling Equals a Terrible Week for Pensions

Two big pieces of news this week may shape the future of pensions for public and private sector workers forever. Late last week we had the European Court of Justice banning risk assessment based on your gender, declaring that it is a breach of EU rules on equality. Then yesterday the long awaited Hutton report was released recommending that public sector workers should invest more, work longer and earn less for pensions.

Investment Options in Superannuation

It’s the dream of many to start a Self Managed Superannuation Fund (SMSF) and fill it with exotic investments like artwork, classic cars and yachts. But there are rules around the types of investments a SMSF can acquire. Here, we look at what’s legal when investing for a SMSF.

Industry Superannuation Funds

When choosing a superannuation fund, a lot of people want to choose the one that charges them the lowest in management and investment fees and gives them the best investment return. Data from the Australian Prudential Regulation Authority (APRA) shows that over the past decade industry super funds have consistently outperformed retail funds by giving its members higher returns*: that’s more money for your retirement.

What’s the Difference Between an Income Drawdown and an Annuity?

An income drawdown is an alternative method of utilising your pension funds to the more traditional Annuity method. The product has also, in the past, been referred to as an ‘unsecured’ pension. Unlike a traditional annuity where you purchase a lifetime income from your pension fund, with an income drawdown scheme, you retain the capital in investment form, drawing income from the capital.

The Road To The Future Using Some Key Retirement Planning Tools

This article will show some great ways to take that hard earned money and put it aside into different types of accounts to provide a great chance at retirement planning. The first way to achieve retirement planning is to use a regular savings account by using this method it is one of the most secure ways to put money away, however the interest will not provide for much extra earnings towards retirement but the fact it is safe, is why many people choose this option.

History Of Industry Superannuation Funds

The first superannuation funds began shortly before Australia became a nation when New South Wales began a pension of £26 a year culled from the state’s general revenue; Victoria and Queensland soon did likewise. For a long time superannuation was available only to a small number of people, but over the past century they have evolved to become accessible to all Australians. Now everyone can benefit from them in life and in retirement more than ever before. Industry super funds played a pivotal role in bringing about this fundamental shift.

Investing for Major Financial Goals

Most people invest their money to achieve a comfortable and secure retirement, to help their children pay through college, or to make a large purchase such as a home. No matter the goals you have in your mind, you will need to have a specific plan to help you reach those goals, so when the times comes you’ll know you’ve accumulated enough funds.

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