Odds are that like me, you've heard plenty about asset allocation. You've read that as we get older, it can make sense to move some of our money out of stocks and into bonds. Many advisors would even park a sizable chunk of your money into bonds right now, even if you're still 10 or 20 years away from retirement.
I'm fond of saying that retirement investing is a fairly simple thing, once you cut through all of the noise. And it is -- compared with the challenges we all face at work, with our kids, or just getting Grandma's souffle recipe to work for once, getting retirement investments in shape is a cakewalk.
Having your financial affairs in order when you die makes a difficult time more bearable for your survivors. But leaving a lasting and thoughtful legacy involves more than money. (We do cover the money part in detail, too.)
There are lots of different investing philosophies out there for the picking. Some investors focus on value investing, while others favor dividend-paying stocks. Still others like small caps, international stocks, or growth investing. In order to put together into a unified portfolio that will help you retire or meet other long-term goals, however, you need to know how to determine your overall asset allocation. Then you can arm yourself with a high-endurance portfolio that's strong enough to battle a rocky Wall Street and irrational exuberance, yet still full of sensible zestiness.
Retirement is the No. 1 goal of investors. Yet, looking at the numbers, it's clear that many investors are undermining their good intentions with unfortunate actions. Here are nine mistakes to avoid if you want your retirement dreams to come true.
Getting income for life and staying in your home as long as you want sounds like the perfect combination. If you're cash-strapped and having trouble making ends meet, a product that promised a deal like that would look like a life-saver.
Professional athletics is the art -- and increasingly the science -- of transforming sports from the commonplace into the surreal. Whether it's running, shooting baskets, golfing, or even driving a car, professionals take a familiar concept (I know how to swing a club) and bring it to an extreme of performance (a 7-iron 190 yards into the wind to 10 feet). It is physical activity hyperbolized.
I have a friend who recently crossed the big 4-0. Forty years of age. He was more than a bit depressed about it.
"Look, Dwight," I said -- which didn't make much sense since his name isn't Dwight -- "Getting old sucks. No one wants to get old. But you know what's worse? The alternative. If you think about it, growing old is a heck of a lot better than not growing old."
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