Read Ann Carrn's New York Times Article Of A Certain Age? You May Need to Withdraw Money From a Retirement Account to learn about Required Minimum Distributions from qualified retirement accounts.
December is generally the peak time for charitable giving. When I work with clients on spending forecasts, I’m often asked, “How much should I be giving to charity?”
Some general estimates are given as an average percentage of adjusted gross income (gross income minus certain adjustments) of 3 percent to 5 percent.
Sometimes in the past I’ve suggested that a current or historical figure might have made a good financial planner but today I’m looking at a different theme – people who get excited for no real reason.
Do any of these phrases sound familiar?
• Stock market rout
• Beaten-up stocks
I wasn’t going to do it. I wasn’t going to write about overspending during the holidays, but I can’t help myself. I got sucked into the Black Friday/Cyber Monday hype.
I found myself poring over the sales ads and wondering what I should buy. Were there any great deals I just couldn’t pass up? Was there anyone who could use any of these deals?
Thanksgiving is now one of my favorite holidays. Besides the food, friends and family gatherings, it gives me time to reflect on how blessed I am.
We so often look at the world and our personal situation and see what’s wrong or what’s missing. Gratitude is an ongoing action, a state of being or a way of life. It is an ongoing habit.
As we age, we slow down physically and cognitively. The physical aspects of aging are more noticeable than the cognitive.
Fred Rogers was probably the best-known actor/producer of children’s programming in the country until his death in 2003. For an interesting look at his life, I recommend the documentary film, Won’t You Be My Neighbor which was released earlier this year.
As I’ve aged, my fondness for amusement parks has waned. I grew up in Illinois, and our park of choice was Six Flags outside of St. Louis. As my kids were growing up, we ventured to Holiday World and later Kings Island.
I was at a retreat recently with fellow planners, and one of the topics was, “Lessons Learned from the ’08 Meltdown: How Are You Preparing Your Portfolios and Clients?”
We know a bear is coming; we just don’t know when or how hungry it will be. I don’t worry about individuals like my son, who are young, well-educated and financially sound.
Unfortunately, I got a song stuck in my head this week—Kenny Rogers’ “The Gambler.” As I had financial planning on my mind, I wondered if there was any sage advice for investors from the old gambler. I found the three main parts of the chorus held valuable lessons for approaching financial goals and objectives.
“You’ve got to know when to hold ’em.