Traditionally pension plans paid out at age 65. You can thank the “Iron Chancellor,” Otto von Bismarck of Germany for that. When he introduced a social security system to appeal to the German working class and combat the power of the Socialist Party in Germany during the late 1800s, he set the retirement age at 65. This …
Archives for August 2018
What Happens if My Financial Planner Retires?
Financial planning is about thinking ahead, prudently planning for the future. With that in mind, it’s only natural that from time to time you might ask the question: “What happens when my financial planner retires?” Or you might as the question: “What happens if my financial planner gets hit by a bus?” What should I …
What is an Independent Financial Planner?
When you visit a Ford dealership and look at cars, do you ever expect the new car advisor to suggest that a Toyota might better meet your needs? No. Everybody knows that the “advisors” at a car dealership work for the dealer and are trying to help you buy one of the cars the dealer …
Fake News: Financial Style
We hear quite a bit about “fake news” these days. It’s a term that doesn’t have a reliable definition. But one thing is true: all the talk of “fake news” has made some people much more likely to question the information they receive. I think some healthy skepticism is prudent. It’s my hope that this …
Have I saved enough for retirement?
Many people wonder if they are at risk to outlive their money. Nobody likes the idea of running out of money in old age. Based on 91 years of market history and some reasonable assumptions, if you have been doing a good job of saving for retirement, you should be fine. Reasonable assumptions for investors …