CPAs and Advisors
Every now and then, there are ideas and so-called rules of thumb about retirement planning that creep their way into the mainstream consciousness and then back into oblivion. Sometimes, however, they linger no matter how inaccurate they might be, like undesirable guests at a party who outlast their welcome. This is exactly my opinion about the 4% rule. (more…)
Many of you will remember Jack Benny, the deadpan comedian. Jack was famous for acting out the story of a holdup. He was robbed at gunpoint and the thief was not joking as he uttered: “Your money or your life!”. Jack would look at the camera in his inimitable style, sigh and put his right hand to his face. When the thief showed impatience at his lack of response, he nudged him with the barrel of the gun, and asked: “Well?”. Jack replied: “I’m thinking, I’m thinking”. Humor aside, I think most of us would consider this an easy decision. (more…)
For many people already in retirement, Social Security benefits and home equity constitute their biggest assets in retirement. In recent years, professional journals have shown articles by leading experts recommending strategies using the home’s equity in producing needed income, not just as a last resort when all other sources have been extinguished. In fact, one could argue that your home equity should be creatively utilized in a retirement income plan that is sensible and tax-efficient. (more…)