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Old 04-09-2014, 09:16 AM
 
Location: Central Massachusetts
4,800 posts, read 4,848,939 times
Reputation: 6379

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I thought this is a "der (glazed over eyes )" piece and feel this guy is just stating the obvious. Based upon where the article was posted and that it should be teling us something important I read it.

Larry R. Frank Sr., an advisor in Roseville, Calif., is an expert on figuring out how to make that precious money last. His advice: Frequent looks at failing simulations and reassessment of portfolios and spending are the best measures to evaluate and monitor how to meter out money in retirement.

How To Avoid Running Out Of Money In Retirement - Forbes

After reading it though I was left with the question "Did he say anything new?" I don't think he did. Yeah he use twins Mary and Jane and of course they each had a million in savings. His point on well Jane took out some money a year before Mary did but Mary took out more was disappointing. Yeah so what she took out more. He didn't mention that the funds should be invested in a balanced way that will provide safety and growth. There will be times when you cannot take out as much as you did last year. There will be times you will need to take out more. That is a "der!" point. This guy is useless . He is fired!
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Old 04-09-2014, 09:52 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by golfingduo View Post
I thought this is a "der (glazed over eyes )" piece and feel this guy is just stating the obvious. Based upon where the article was posted and that it should be teling us something important I read it.

Larry R. Frank Sr., an advisor in Roseville, Calif., is an expert on figuring out how to make that precious money last. His advice: Frequent looks at failing simulations and reassessment of portfolios and spending are the best measures to evaluate and monitor how to meter out money in retirement.

How To Avoid Running Out Of Money In Retirement - Forbes

After reading it though I was left with the question "Did he say anything new?" I don't think he did. Yeah he use twins Mary and Jane and of course they each had a million in savings. His point on well Jane took out some money a year before Mary did but Mary took out more was disappointing. Yeah so what she took out more. He didn't mention that the funds should be invested in a balanced way that will provide safety and growth. There will be times when you cannot take out as much as you did last year. There will be times you will need to take out more. That is a "der!" point. This guy is useless . He is fired!
One of the realities that is rarely mentioned is that millions are not very good at managing their money when younger, healthier and working. Why we think they might be any better when older, not as healthy and not working. Even starting out ok with pensions and SS they can still fall flat. Without them?
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Old 04-09-2014, 11:20 AM
 
12,825 posts, read 20,144,092 times
Reputation: 10910
What, you mean I should actually think twice about the big screen TV, Starbucks, European vacation, lavish gifts to family members and country club membership, even though I only have 40% of my former income?

/sarc
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Old 04-11-2014, 09:46 PM
 
Location: Southwest Washington State
21,869 posts, read 14,383,691 times
Reputation: 30756
The thing is, you can't simply save for retirement. You have to invest. What savings plan or instrument pays any significant interest these days? Investing is hard. Luckily for me, DH does a really good job with this. But I know plenty of people who do not have any idea how to start to invest or how important it is. I know of friends whom I don't know how will survive into retirement with any sort of decent lifestyle. I mean, how will they buy anything beyond basics? What will they do when their old car dies?

The only way to make one's money grow in this present economy is to invest in something. We spent decades deciding we were not stock investors. But we do have assets invested in various funds. Investing is the only way to make money work.

But how many people don't know anything about investing? How many have lost value in their homes in the last decade? The present economy is not structured to assist people of moderate means who need to save.

And even with investing, the market is manipulated by day traders and institutional investors. I think the cards are stacked against those of us with moderate means who need to save. But save, we must.
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Old 04-11-2014, 10:01 PM
 
Location: VT; previously MD & NJ
2,203 posts, read 1,347,729 times
Reputation: 6336
Quote:
Originally Posted by silibran View Post
But how many people don't know anything about investing? How many have lost value in their homes in the last decade? The present economy is not structured to assist people of moderate means who need to save.

And even with investing, the market is manipulated by day traders and institutional investors. I think the cards are stacked against those of us with moderate means who need to save. But save, we must.
Once upon a time in the not so distant past, there were CDs you could buy from your local bank that would at least pay a percent or two above the inflation rate. That was an investment that most folks could understand. And your money was protected.
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Old 04-12-2014, 11:45 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by ansible90 View Post
Once upon a time in the not so distant past, there were CDs you could buy from your local bank that would at least pay a percent or two above the inflation rate. That was an investment that most folks could understand. And your money was protected.
Change is inevitable
Adaptation isn't
Just ask a dinosaur if you can find one or ask a roach they can be found,
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Old 04-12-2014, 12:02 PM
 
Location: SW MO
23,605 posts, read 31,487,261 times
Reputation: 29071
Oh, bother. Reel-in your spending. Is that supposed to be something new?
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Old 04-12-2014, 12:15 PM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by Curmudgeon View Post
Oh, bother. Reel-in your spending. Is that supposed to be something new?
Ahhhh a classic and simple example of adaptation. Spend less. Works really well when you start retirement with a budget below your projected income stream.
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Old 04-12-2014, 01:48 PM
 
Location: Great State of Texas
86,093 posts, read 72,515,954 times
Reputation: 27565
Quote:
Originally Posted by TuborgP View Post
Ahhhh a classic and simple example of adaptation. Spend less. Works really well when you start retirement with a budget below your projected income stream.
Bingo !

Live beneath your means and you won't be worrying so much.
Americans don't tend to do that though. If anything they live above their means using credit and are and have always been poor savers.
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Old 04-13-2014, 10:35 PM
 
Location: Southwest Washington State
21,869 posts, read 14,383,691 times
Reputation: 30756
Quote:
Originally Posted by ansible90 View Post
Once upon a time in the not so distant past, there were CDs you could buy from your local bank that would at least pay a percent or two above the inflation rate. That was an investment that most folks could understand. And your money was protected.
We put our mom's money in a CD ladder. For a few years she earned good interest. But when the CDs were renewed after maturing, the interest they paid was a pittance.

You used to be able to get a halfway decent return on moneymarket funds, but no longer.

If the interest rates ever increase again, perhaps CDs will return as a realistic investing tool.

There are still people whose major investment is their home. The Great Recession pretty well destroyed the accrued value of many homes.

If you make modest money, and want to save, where can you go? The only thing I know of would be an index fund or some such. But how many people can imagine investing in one? This is a major problem in this country. We read that people simply aren't saving enough money, but what instrument or method should they use?

People who work might have access to funds they can buy into directly out of their paychecks. But if they don't have that access, I am not sure most of them would seek help to find that they need.
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