October 25, 2011
Medicare Enrollment Checklist
Source: MorningStar
Summary from Eclectic’s Scott Rojas:
Health care cost are a major retirement expense. It pays to do your homework, understand your options and choose a plan that best fits your needs.
Here is an article that cover the basics and will get you started.
From MorningStar: It’s important for seniors to reshop their coverage every year — especially this year.
The nation’s biggest Medicare prescription drug plan is boosting premiums an average 14% next year. But the third-largest plan will cut premiums about 9%. And premium changes for the top 10 drug plans will be all over the map, according to an analysis by consulting and research firm Avalere Health.
To read the rest of this article, click here
April 18, 2011
70 or Bust!
Source: The Economist
Summary from Eclectic’s Scott Rojas:
One of the primary challenges for retirement is that our average life expectancy has increased. Living longer requires that we either work longer or save more.
From the Economist: PUT aside the cruise brochures and let the garden retain that natural look for a few more years. Demography and declining investment returns are conspiring to keep you at your desk far longer than you ever expected.
This painful truth is no longer news in the rich world, and many governments have started to deal with the aging problem. They have announced increases in the official retirement age that attempt to hold down the costs of state pensions while encouraging workers to stay in their jobs or get on their bikes and look for new ones.
To read the rest of this article click here
April 25, 2011
10 Commandments of Retirement Planning
Source: Fox Business
Summary from Eclectic’s Scott Rojas:
Below you’ll find a pretty solid article from Fox Business. Just to emphasize a few key points…
Good retirement planning involves:
1. Consistent saving as early as possible (Don’t wait until you strike it rich or become magically motivated to learn about investing)
2. Paying off toxic high-interest debt (ie. credit card balances)
3. Considering the appropriate level of risk for retirement investments
4. Setting goals and monitoring your progress within your overall financial plan
From Fox Business: When it comes to retirement planning, sooner is always better than later. Consider this illustration in the importance of time in retirement planning: a 25-year-old who saves $5,000 every year for 40 years will retire with nearly $1 million, assuming a 7% rate of return. A 35-year-old who begins saving $5,000 annually will turn 65 with around $472,000.
To get close to $1 million in 30 years rather than 40, the 35-year-old would have to save twice as much as her younger counterpart.
To read the rest of this article click here
Carl J. Camp, CFP
Carl Lachman, CFP
Scott Rojas, CFP
Russell W. Hall, CFP
David K. MacLeod, CFP
Masako Sumita
Travis McShane
