Archive for the ‘Retirement’ Category
Ordonez makes retirement official
Posted: June 3, 2012 at 7:12 pm
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Ordonez makes retirement official
Are Your Retirement-Portfolio Withdrawals Fixed or Variable?
Posted: at 7:12 pm
How to set an in-retirement withdrawal rate is a hot topic among Morningstar.com readers, and for good reason: It's one of the most impactful decisions that pre-retirees and retirees can make. Take too little and you give short shrift to your own quality of life; withdraw too much and you risk prematurely depleting your assets.
Because the topic of withdrawal rates has many nuances, I queried posters in the Investing During Retirement forum of Morningstar.com about a specific aspect of retirement distributions: whether retirees are taking fixed withdrawals from their retirement portfolios or varying their distributions based on factors such as market performance or personal income needs.
As usual, my query yielded a rich set of responses showcasing an array of approaches to this issue. To read the complete thread or share your own withdrawal strategy, click here (http://socialize.morningstar.com/NewSocialize/forums/p/305271/3250292.aspx#3250292).
'Pretty Easy System'I didn't define "fixed" and "variable" in my question, so readers differed in their interpretations of the terms. Some posters noted that they're withdrawing a fixed dollar amount per year, which means that their withdrawals fluctuate as a percentage of their portfolios. That's the approach that underpins the so-called 4% rule, as discussed in this article (http://news.morningstar.com/articlenet/article.aspx?id=536284).
Molokoeo is using that general strategy. "I make a fixed dollar withdrawal from my IRA monthly, and supplement that (grudgingly) with occasional withdrawals for one-off, unplanned expenses. Since the value of my portfolio fluctuates daily, I guess that means that my withdrawal rate is variable. My withdrawal rate modestly exceeds the commonly accepted sustainable withdrawal ate, though I'm confident in my ability to sustain my income stream with a diversified portfolio of dividend stocks, bonds, master limited partnerships, preferreds, REITs, and so on"
In a similar vein, dtconroe stays attuned to the paycheck, not the rate. "I focus on cash withdrawal amount instead of rate of withdrawal. I treat monthly withdrawals of cash as a regular paycheck for projected expenses. Every year, I decide whether to change my cash withdrawal amount for my next annual expense projections. If I need more than the cash withdrawal amount, due to unanticipated expenses, I have a savings account for the unexpected."
Other readers, meanwhile, are withdrawing a fixed percentage of their portfolios. Under that approach, the retiree's payout varies in dollar terms based on the performance of the investment assets--taking a fixed percentage yields a bigger paycheck in good years and a smaller one during down markets.
ColonelDan was matter-of-fact in his approval of this strategy. "I withdraw what I need but will not exceed 3% in any one year. The reality is as the market varies, so goes the portfolio balance, so goes one's ability to spend ergo so will the withdrawal amount even though the percentage rate itself may remain fixed. To do otherwise is to deny that reality as I see it."
Packer707 is also using a 3% fixed withdrawal rate. "We are now two years into retirement and planning to maintain/grow our portfolio during our lifetime. We use some small business ventures to fund some fun things like travel. If our investments and small businesses do well we will be able to do more of the fun things."
Glebbb is withdrawing a 4% rate, derived from a combination of income and capital gains. "I have my portfolio yield slightly above 4%, which, along with capital gains, gives me a small amount for rebalancing. All my distributions go into my money market fund. My 40%/60% portfolio should give me about 7% total return, average, so I get moderate growth. I write one check at the end of each year; [it's a] pretty easy system."
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Are Your Retirement-Portfolio Withdrawals Fixed or Variable?
The whole Nicklas Lidström’s retirement speech at the press conference 31.5.2012 – Video
Posted: June 2, 2012 at 10:19 am
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The whole Nicklas Lidström's retirement speech at the press conference 31.5.2012 - Video
Retirement Coach Announces New Retirement Readiness Assessment Designed to Create Unique Retirement Experience for …
Posted: at 10:19 am
Seattle, WA (PRWEB) June 02, 2012
When Baby Boomers retire from their full time work world, they leave behind their familiar identity, structure and community. As a Retirement Coach, Janice Williams provides a free retirement readiness assessment at http://www.welcomingretirement.com/ to help retiring Baby Boomers prepare for the next chapter of their life with clarity and confidence.
Retiring Baby Boomers often feel overwhelmed about their unknown future and hate the word retire. "Retiring Baby Boomers are likely to live longer, healthier lives than previous generations and they cant imagine living the traditional retirement lifestyle, nor do they want to," says Janice Williams.
The short, 10-question Retirement Readiness Assessment will get Baby Boomers on the verge of retirement started planning whats next when they retire. "When retiring Baby Boomers create a concrete plan for how they will spend their time, what their identity will be and how they will make their transition with ease, they will thrive with the best retirement strategies for their life," adds Retirement Coach, Janice Williams.
Welcoming Retirement at http://www.welcomingretirement.com/ was created by Certified Retirement Coach, Janice Williams, to serve Baby Boomers on the threshold of retirement who feel overwhelmed by the thought of retiring and who want to make the most out of their future. At this time of life, retiring Baby Boomers can leverage their knowledge, wisdom, and expertise to live a retirement lifestyle of fulfillment and contribution, leaving a full and powerful legacy of their choice.
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Janice Williams Retirement Coach 400 Boylston Ave E. Seattle, WA 98102 http://www.welcomingretirement.com Janice(at)welcomingretirement(dot)com
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Retirement Coach Announces New Retirement Readiness Assessment Designed to Create Unique Retirement Experience for ...
Phil Jackson Restless in Retirement, Lakers’ Buss Says
Posted: at 10:19 am
By Andy Fixmer - 2012-06-02T00:13:31Z
Retirement isnt suiting Phil Jackson a second time any better than it did the first.
The 66-year-old former coach, who won a record 11 National Basketball Association championships with the Chicago Bulls and Los Angeles Lakers, has mended physically since his final season in 2011 and misses the game, according to Jeanie Buss, the Lakers executive who oversees business operations and is Jacksons girlfriend.
When a player leaves the game, its just such a loss in their life, Buss said in an interview. Phils in that situation. Hes not a good person to be retired. He doesnt build ships in a bottle.
Jackson has spent most of his adult life in the sport. Drafted in 1967, he played 12 years with the New York Knicks and New Jersey Nets, then coached the Michael Jordan-led Bulls to six championships in the 1990s, retiring for a first time after the 1997-98 season. He came back a year later to coach the Lakers, gathering five trophies with Kobe Bryant.
Jackson turned down an offer to return to the NBA in a front-office role with the Orlando Magic, the Orlando Sentinel reported yesterday, citing an intermediary, former player and coach Sam Vincent. He has decided on another opportunity, the newspaper reported.
Todd Musburger, who represents Jackson, didnt respond to a phone call seeking comment after business hours in Chicago.
The physical ailments that slowed Jackson in his final seasons with the Lakers shouldnt be an obstacle to his return, Buss said in the interview at the teams practice facility in El Segundo, California.
Jackson, whose medical past includes back problems, a 2003 heart angioplasty and two hip replacements, had a knee ailment that caused him to gain weight in his final season, she said. The knee was replaced and he has lost weight, she said.
Is he driving me crazy? Yes, Buss said. Physically hes probably better than he was in the last few years. Physically I think he could, but does he want to? I have no idea.
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Phil Jackson Restless in Retirement, Lakers’ Buss Says
Retirement Isn’t All Fun And Games
Posted: at 10:19 am
(credit: Photo by Gregory Shamus/Getty Images)
BOSTON (CBS) The reality is you need to plan for the soft side of retirement as well as the financial side. I have heard from many listeners who have flunked retirement.
Retirement Isnt All Fun And Games
Many people fantasize about leaving their jobs and having the good life, a better life in retirement than what they have now! This is the biggest myth of all.
Like so many of our other fantasies we want this time in our life to be perfect. We will have retirement 24/7. That is like living a month of Saturdays. So what are you going to do with all of your Saturdays?
What about your spouse? If youre heading into the sunset coupled, what does your spouse want to do in retirement? According to Sara Yogen, author of For Better or For Worse but Not for Lunch, retirement 24/7 with your spouse may actually be a marriage wrecker.
Long before retiring, 5 to 10 years out, start talking about what you really would like to do. Its a process and should be fluid and you should be flexible as well. Communication is key to surviving retirement with a spouse.
How do you want to spend your time and where do you want to spend your time? Get a calendar and fill in the days with what you want to do. Playing golf three times a week may not be financially possible. Babysitting the grandkids is not what you signed up to do either.
Build a social network outside of work. Find a new reason to get up every morning. When you worked you had a reason to get up. Now what do you want to do with the rest of your life? Volunteer? School? Travel? Play? Garden?
If you are coupled, look to do things independent of each other, pursue different interests. Dinner conversations will be oh so much better. I know at times its hard if you have just one car. But set up a schedule and be sure you honor each others need of independence and the car keys.
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Retirement Isn’t All Fun And Games
Nicklas Lidstrom Announces Retirement. Press Conference. May 31st 2012 – Video
Posted: June 1, 2012 at 6:15 pm
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Nicklas Lidstrom Announces Retirement. Press Conference. May 31st 2012 - Video
Nicklas Lidstrom Retirement Announcement – May 31, 2012 – Video
Posted: at 6:15 pm
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Nicklas Lidstrom Retirement Announcement - May 31, 2012 - Video
Stern Advice: Tax apocalypse in your retirement account
Posted: May 31, 2012 at 11:16 pm
Amid all the gloom and doom about forced retirement, skyrocketing healthcare costs and nest egg-cracking financial markets, there's another threat facing baby boomers: future tax liabilities.
The generation that has depended solely on 401(k)s and tax-deferred individual retirement accounts may not realize how much of a tax hit it will take when it starts withdrawing the money and living on it.
With the prospect of rising tax rates after the Bush tax cuts expire, some retirees could find themselves paying even more in taxes than they did when they were working. "It continues to surprise our clients that taxes are that big of an expense in retirement," says Mark Davis of SunTrust Investment Services, Inc.
He estimates that clients who optimize retirement withdrawals to minimize their taxes can end up with as much as 33 percent more to spend in retirement years than they would if they ignored the impact of taxes.
How to do that? Here are a few options.
-- Build a tax-diversified portfolio going in. If all your savings are locked away in a 401(k) or tax-deferred IRA, you will end up paying income taxes on all your withdrawals. It's better to have other accounts to pull money out of.
To really optimize your post-retirement withdrawals to minimize taxes, it would be good to have a tax-deferred account, a tax-free account (such as a Roth IRA or a healthcare savings account) and a regular taxable investment account. You can use the taxable account to take capital losses as they occur, and to keep income taxed at lower capital gains and dividend rates.
-- Consider taxes as you decide when to start your Social Security benefits. That's a complex consideration, so it's best to have an expert with a spreadsheet help you. The basic issue is this: Many advisers recommend that you delay starting your benefits as long as possible, to maximize the monthly payments you'll ultimately receive. But if you have to withdraw money from a tax-deferred account to live on while you're waiting to start Social Security, that could backfire. If your combined marginal state and local tax rate is 35 percent, and you're deferring $20,000 in Social Security, that could conceivably cost you as much as $7,000 a year to defer those benefits.
-- Know your limits. It's good to know your tax bracket and whether or not you are on the verge of being in a higher or lower bracket. For example, the 25 percent federal tax bracket starts at $35,350 in income ($70,700 for couples filing jointly)and runs all the way up to $85,650 for single filers and $142,700 for joint filers. If you have multiple accounts, you can finesse your withdrawals to keep your marginal income below a bracket line.
-- Don't forget Social Security taxes. It is likely, though not certain, that you will have to include a portion of your Social Security benefits into your taxable income. If your income, including 50 percent of your benefits, exceeds $25,000 for singles or $32,000 for couples, then half of your benefits will be taxable. Once that figure exceeds $34,000 for singles and $44,000 for couples, 85 percent of your benefits would be taxable. That means you could end up giving back as much as 21 cents in taxes for every dollar in benefits you collect.
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Stern Advice: Tax apocalypse in your retirement account
Statistics Show Qualicum Beach has Oldest Population in Canada – Video
Posted: at 9:17 am
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Statistics Show Qualicum Beach has Oldest Population in Canada - Video