Choosing Investments in Your 401(k)

January 2nd, 2018

Five guidelines to use when selecting funds for your plan.

When you participate in a 401(k) plan at work, or a 457 or 403(b) plan if you work at a non-profit or government agency, you are responsible for choosing investments in your plan from a range of stocks, bonds and mutual funds selected by your employer. Here are five helpful tips to do that: Read the rest of this entry »

Financial Wellness Reaching Majority Status

January 2nd, 2018

Your company is likely among the majority that not only want to help employees with their non-retirement financial matters but also are offering tools to make it happen. That statement can be made with some degree of confidence, because according to the Aon Hewitt 2017 Hot Topics in Retirement and Financial Wellbeing report, 59% of employers recently asked said they are very likely, with another 33% moderately likely, to focus on overall financial wellbeing among employees. That’s a very strong showing of more than 90%. Helping employees take charge of their financial lives isn’t a new idea, of course. But it seems to be gaining more popularity each year; 60% of organizations say they believe financial wellness has increased in importance within their organizations in the last two years. Read the rest of this entry »

How to Save $3,000 This Year

December 19th, 2017

Making thrifty decisions can become a regular habit that adds up. We all know how difficult it is to put aside money for the future when there are so many competing claims on your income. Small wonder that half of American households currently have no savings for when they stop working.

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Enthusiasm and Trust High for 401(k) Plans

December 19th, 2017

When it comes to saving for retirement, Americans love their 401(k) and other defined contribution (DC) plans. They demonstrate it with money and participation: As of late 2016, about 54 million Americans were active participants in DC plans, which collectively held more than $5 trillion in assets.

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CFO Of Home Operations

December 15th, 2017

In every family, one of the most important discussions is to appoint someone to take charge of the family finances. Whether it is yourself or your partner doesn’t really matter – whoever takes on the role recognizes that the financial stress will be a constant challenge and they have to take responsibility for navigating the waters and keeping the ship afloat.

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Are You a Risk Taker

November 16th, 2017

Speak to anyone who has decided to go it alone and open a business, and you’ll discover that they understand the term “risk”. My 98-year-old grandfather is one of those people. During his thirties, he opened a business from his backyard, and whenever I have spoken to him about it, he has always been honest: there were good times, there were great times, and there were times he wondered if he could put food on the table for his family. His greatest advice has always been “Without taking risk, whether in business or an investment, you truly cannot appreciate the power of determination.”

Firstly, you must have a good understanding of your risk tolerance; it is crucial to making a successful financial decision. Understanding how much risk you Read the rest of this entry »

The Cost of Living Longer

October 23rd, 2017

Ask yourself a question – If a scientist could create a pill that allowed you to live another 10 to 20 years, extending your lifespan to between 110 and 115 years, would you take it?

Well, I can certainly answer that question: Definitely not! It doesn’t matter whether the quality of life is there or not, financially I couldn’t afford it. The issue for me isn’t about living, it’s about financing my lifestyle well beyond my working years.

My grandfather was fortunate to retire at age 50 but is still alive today at age 98; it’s crazy to think he has been retired for 48 years. Luckily, he still is financially Read the rest of this entry »

Is It Time To Start Downsizing?

September 14th, 2017

Imagine that glorious day when your children have grown into adults and the “Bank of Mum and Dad“ has finally closed for good. Now imagine your house is free of clutter, you have a nice healthy balance in your pension and investments and, most importantly, you just handed in your notice at work because you are ready to retire!

For most of us, that is the vision when starting retirement; however, a lot of us who own a home haven’t really thought about what we are going to do with our home as we get older. It is important for this “big picture” to create a plan about how you intend to deal with the family homestead while you are of sound mind and body.

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You may find that, like a lot of couples who become “empty nesters”, the Read the rest of this entry »

Plan On Leaving An Inheritance?

August 15th, 2017

Leaving an inheritance or a legacy for the next generation is definitely a personal choice and there is no right or wrong answer to it.

Giving an inheritance can mean sacrificing your today for someone else’s tomorrow. If you talk to the elderly, you will hear that the focus was always on making the next generation more financially secure and being given the chances they never had.


However, we tend to forget that in those days, the first born received the assets and if you were second or third in line or worse if you were a female, you would not get anything.

We have read countless articles about baby boomers and the financial challenges they are facing, and also how a large majority of boomers plan to spend everything before they die and pass along little to the next generation.

In 2006, an inheritance study by AARP revealed that four out of five boomer households had received or will be receiving an inheritance; however, only 15% intend to give one. Another survey by Sun Super in 2009 interviewed 1,000 people per generation and each person was asked one simple question:

Do you plan to leave a legacy? Read the rest of this entry »

10 Common Questions About Pensions

July 18th, 2017

Let’s get real. The subject of pensions and how they work isn’t the hot topic during a Friday night happy hour with your friends or colleagues, but oddly enough, I seem to get asked the same questions quite frequently, which makes me think perhaps a lot of people are actually unsure.


Here is the list of the top 10 questions and their answers, which hopefully will provide more clarity.

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