Estate Planning

I read an article today that gave me some really good insight on estate planning.  The article made me think about the many people at retirement age who are still getting advice from their Financial Planners and Advisors that is not the best [advice].  Some people are still being told to invest their money as aggressively as a person just entering the workforce.  Why?  That is usually not the best option for someone nearing retirement or already in retirement.  For a person in his or her early 30's, investing aggressively with higher risk vehicles might be okay.  A younger person has more time to bounce back from a bad economy; a younger person may feel the need to stache away more funds for retirement in 30 more years; a younger person may not need to live off of the funds they are advised to invest.  My point is that you should make sure your Financial Planner/Advisor is giving you the best options and advice possible.  The best way to do that is to keep track of how your money is growing for you.  If you are always losing money invested, that's not good.  If your Advisor/Planner is not reviewing or assessing your needs at different stages in your life, then that's not too good either.  I emplore you to answer this question:  Do you think your planning needs will be the same at the age of 35 [with 2 small children and a mortgage] as they would be at the age of 60 [children are adults now and the mortgage is paid off]?  Something to think about.

Super Excited...

About my new website.  I just started a new website to promote my business that I'm really excited about.  The address is http://QHarvelle.webs.com and I can't wait to share it with all my friends! 

Retire Wealthy With the Right Retirement Vehicle

Retirement is not just the end of your working life.  It also signifies accomplishment and a sense of relief for most of us.  If you are in your younger years, then you have heard that Social Security may not be around when you hit retirement age.  How does this affect you?  Well, if you don't properly prepare your nest egg for your golden years, then retirement will be nothing more than a dream.  Unless there will be someone taking care of you, all of the responsibility is on you. 
Of course, if you would RATHER work after retirement, then this doesn't apply to you.  Some people truly enjoy having a job and there is absolutely nothing wrong with that.  I enjoy my job thoroughly; however, when I'm 65 I intend to be doing nothing more than enjoying everything else life has to offer. 
The moral to the story is this: be sure to decide what type of lifestyle you want in your senior years.  From there, figure out what it will take to make that happen.  Your financial planner should sit down with you to help you map out your financial goals [for now and for then].  If you don't know much about an IRA, then why do you have one?  How do you know it is the right choice for you?
You CAN retire wealthy!

To 401(k) or Not to 401(k)

People work hard each and every day to pave the way for a comfortable retirement.  A 401(k) is a great tool used for setting up retirement income for the future.  Many employers also will match up to 6% of your contribution, and you can contribute up to $3,000 per year.  So this is something quite attractive to most employees.  The thing is, though, some people would like to contribute a little more than the maximum allowed of $3,000 per year.  The benefits department at work has neither discussed with the employees how a 401(k) plan works, nor have they helped them decide if this is the best retirement plan for their unique needs.  Their job is simply to offer it to you...not to teach you about it. 
You need to know that other investment vehicles do exist that will allow your PRE-TAX dollars to grow tax-deferred (just as your 401(k) does), but will allow you to contribute as much as you desire.  Thus increasing your net worth as well as your retirement nest egg.  These investment strategies can also yield more favorable interest rates than your 401(k) plan.  I am not saying that your 401(k) plan is not the best for you; however, you want to make sure your financial planner has reviewed your financial goals to help you make the best decision.