If you are in a High Deductible Health Insurance Plan (HDHP), you have access to one of the best retirement savings vehicles available today, the Health Savings Account. Yes, you read that correctly, in my opinion, your Health Savings Account, or HSA, is best thought of as a retirement account. [Read more…] about The HSA as a Retirement Account
One of the most valuable assets retirees have are their Social Security benefits. Depending on an individual’s longevity and income over their career, Social Security payments could ultimately total upwards of $1,000,000. Unfortunately, based on my experience, many people haven’t given much thought as to how they can maximize this benefit. And because of how Social Security is coordinated for a married couple, poor planning can potentially result in several hundred thousand dollars of lost benefits over a lifetime.
I get some variation of this question on a regular basis and it usually falls into one of 2 scenarios. The first is when someone is getting ready to retire. The other is when a mid-career family is buying a new home, thinking about refinancing, or has just come into some additional money, say from a promotion or inheritance. For the sake of brevity, I’ll cover the first scenario here and the other in a future post. [Read more…] about Should We Pay Our Mortgage Off Early?
When reviewing investment alternatives, average annualized returns are important, but they don’t tell the whole story. The sequence of returns matter as well. And as we’ll see, while they can have an impact when accumulating savings, their effects can be more dramatic for portfolios in distribution, such as during retirement. [Read more…] about Sequence of Returns – A Key Aspect of Investment Performance