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Things are getting worse on Wall Street, and your 401(k) retirement fund is starting to feel the squeeze of the credit crunch.  Each day as the Dow drops a few hundred points, you start to picture all of the money that’s flowing out of your 401(k).  Even though you’re close to retirement, you’re worried that all of your hard work and retirement savings will disappear by the time you reach your retirement age –and you’re tempted to stop contributing to your nest egg altogether until the crisis is over.

Sounds like good advice, right?

Actually, one of the worst things that you can do for your 401(k) retirement fund is to stop contributing.  Sure, the market may be volatile now – but just take a look at history.  Markets have always crashed, but they’ve always risen as well.  You need to take a deep breath and ride this one out.  Besides, you won’t need all of your retirement savings right away – and with more retirements lasting 30 years or longer, your investments will have plenty of time to become healthy again.  One more important note: if you stop contributing to your 401(k) retirement fund, you miss out on contributions from your employer. 

That’s like turning your nose up at free money!

Besides, many investment advisors believe that market downturns can be great for investors like you, since there is little risk with much gaining potential.  The stock market has always followed a cyclical effect, so don’t be too worried that you’ll lose out on your investments.  When it comes to Wall Street, what goes down today will go up tomorrow!

Additionally, if you want to keep your retirement fund healthy, you should invest more in stocks, which admittedly have great risk – but they also have much more to gain as opposed to bonds.  Consider your retirement age when diversifying your portfolio: those closer to their retirement age should have 60% of their portfolios composed of stock, while younger people can handle more risk at 70%.  Just remember, market conditions will inevitably improve – you just need to have the patience and willpower to see it through.

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401(k) experts!

Authored by Kenneth Himmler, Sr.

If you’ve done your retirement planning homework, then you know that an investment firm can really help your savings to go the distance.  A registered investment advisor will not only help you to choose the best investments for your funds – but he or she will also work hard with you to make sure that you quickly and easily meet your retirement goals!

Yet if the current economic climate has you a bit weary as to whether or not you should invest your hard-earned retirement savings – after all, if you follow the news reports and newspapers, you may think that you’ll lose your money in an instant! – take heart: investment firms are more dedicated than ever before to getting and keeping your business.  This means you can get some pretty fantastic services from your registered investment advisor without having to empty your retirement savings to pay for them!

So what exactly should you be looking for when choosing the right investment firm or advisor to boost your retirement nest egg?

You should make sure that your investment advisor knows what key assets to look for in a mutual fund, especially given the shaking condition that the economy is in.  It’s no longer enough to just check out a fund’s fees and performance; you need to research the actually manager of your portfolio as well.  Don’t just assume that all investment advisors or firms are the same – you need to take control of your money!  Make sure that your investment advisor has a long history of happy customers, and has a reputation for smart investments.  You need to know as much as you can about the person or company who will be handling your retirement savings, so don’t skimp out on this important step.

Additionally, don’t be afraid to ask for bonus incentives from your investment firm.  For example, many firms now offer free classes on investment research for their clients as a way to educate them on boosting their retirement funds.  You could also ask for a discount in fees, since many investment firms and advisors are desperate for business.  Don’t be afraid to negotiate your way to a deal!

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Kenneth Himmler, Sr.

Saving up for a successful retirement can often seem like a shot in the dark.  After all, how much do you really need in order to enjoy a comfortable retirement, as well as be financially prepared for any emergencies, like increased medical bills, education for your grandchildren and so on?  It’s no longer enough to just contribute to your 401K retirement without setting a specific savings goal that you intend to reach upon your retirement age. 

So what’s a savvy saver like yourself to do?  Simple: whip out your retirement savings calculator!

The retirement savings calculator may sound like a high-tech tool that only registered investment advisors can use, but it’s actually quite easy for the average consumer to incorporate into his or her retirement planning.  You can pick up software for a retirement calculator from your investment firm, or you could simply head online and Google the search term for tons of free calculators. 

If you’re not exactly sure how to use a retirement calculator, no need to worry: it just takes a few specific goals in order to generate the amount of money you need in order to retire.  All you need to do is input your desired retirement age, the amount of money that you’re putting away now and what you think you’ll spend each month once you’ve reached your golden years.  The retirement savings calculator will then tell you what you’ll have saved if you keep contributing the same amount of money to your funds.  This will help put a clear goal in your mind if you have no idea what you need in order to enjoy your retirement to the fullest.

So once you’ve used your retirement savings calculator, what do you do next?  Take your findings to your investment advisor, where the two of you can discuss what investment options will get you to where you need to go. 

Don’t leave your retirement planning up to chance – gain control by using a free retirement savings calculator today!

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Kenneth Himmler, Sr.

Planning for your retirement with your investment advisor is no picnic – before he or she can even give you the kind of investment advice that will lead to a major nest egg, you need to do some serious soul-searching about your post-career life.  Will you lead a relaxing lifestyle filled with reading and hobbies, or will you travel the globe in search of adventure?  Will your days be filled with visits from family and friends, or are you planning on continuing to work part-time or take up volunteering?  Don’t forget about the possibility of spending part of your time in one of several continuing care retirement communities!

So what does all of this have to do with your investment advisor, you might ask?  Simple – once you’ve mapped out the kind of lifestyle you’ll lead during retirement, you can help your advisor give you the best advice for saving up for that lifestyle.  Here are the important questions that you need to ask yourself before heading to an investment firm!

Full Retirement Or Part-Time Work?  For many baby boomers, retirement isn’t a full break from work; rather, it’s the chance to do part-time work in a career that you love.  If you’re planning on doing part-time work for the majority of your retirement, you might not need to save up as much as someone who will have no source of income other than their retirement savings and social security checks.  This is a must-need piece of information for your investment advisor!

Will You Be A Homebody Or An Explorer?  For some, retirement is like one big holiday – but unless you save up for your expeditions, you won’t have enough to pay for the basics and travel.  With an average retirement age of 65 and the typical retirement lasting up to 12-15 years, you’ll need to tuck away significant funds in order to afford a jet-set lifestyle! Let your advisor know that you plan on globetrotting; this will help him or her to give you the best kind of investment advice for your post-career life. 

Are You Paying For College?  If you’re planning on providing for your grandchildren’s education or other hefty expenses, then you’re going to need some significant savings and investments in order to meet the growing cost – so let your investment advisor know!

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored By Kenneth Himmler, Sr.

The battle rages on between the two opposing camps, with each claiming victory for a short time before another round swings the pendulum the other way. I am talking about the opposing views of the “buy-and-hold” advocates, and the “market timing” fans. Which is best?

The answer, unsurprisingly, is that it depends on what you want to achieve, and how much you want to track your investments. If you are concerned about whether to hold on to your investment portfolio or to trade in and out of the market, then either way at least you have the main principle clear, that of savings and investment, and that is a major step in retirement planning.

You will find that the prevailing market climate will change the choice of the best investment strategies. A buy-and-hold strategy, by definition, always has funds invested in the market, and a market timing strategy inevitably has times when the money is out of the market ready for the next opportunity. So in a bear market such as we are experiencing, the market timing model is more likely to come out on top by avoiding some of those losses. When the markets are bullish, as we had for several years before, then buy-and-hold strategies are probably going to be better, as they will not miss out on any days’ gains.

A statistic that is frequently quoted is the amount that you would fail to gain if you were out of the market for just the ten best days over a period of years, and often it is said that this would account for half the gains. Such an argument for buy-and-hold does deny that the market timing strategy would be in the market on those days, whereas that is precisely the period that you would expect a market timing system to identify, if it was any good. But perhaps that is the crux of the argument – if you choose to use a market timing strategy, you must be prepared to be constantly involved and deciding when to invest based on daily fluctuations.

The epitome of the market timer is the short term trader on the stock market. What many people do not realize is that 90% of beginning traders lose money and give up in the first six months. There is money to be made with a market timing strategy, as professional traders can attest, but for the majority buying into a fundamentally sound portfolio and holding is a safe retirement tactic. For sound investment advice you should look to an investment advisor, such as Ken Himmler, at www.kenhimmler.com, or consult an asset management company such as Integrated Asset Management at www.iamllc.biz.

Authored by Kenneth Himmler, Sr.

If you’ve been carefully building up your retirement savings, the daily headlines featured on the news and in the papers may make you feel as though you should stop contributing to your retirement fund.  After all, with an estimated loss of $500 billion to $2 trillion from retirement accounts in the United States alone, many individuals feel that any contributions made towards their 401k or investment strategies is money lost!

However, refusing to contribute to your retirement savings is exactly what you should not during this time! 

Despite the bear market, your retirement plans still need to remain a top priority, since your savings are greatly affected by time; in other words, if you put off contributing for a few years, you could lose tens of thousands of dollars!

And that’s not the only dismal news.  Many baby boomers are planning to count their Social Security as a stable monthly income; however, given the sheer size of the baby boomer generation, Social Security could become a thing of the past as the government becomes more financially squeezed. 

If you want to protect your retirement savings, it’s important to be proactive even during a time of financial uncertainty.  Check out a free online retirement calculator to determine exactly how much you’ll need to save in order to meet your goals; if you find that you won’t have enough at your desired retirement age, consider retiring later or getting another source of income to make up for the shortcomings.  Additionally, if you’re currently living beyond your means, straighten out now!  Budget your income, and make sure to emphasize the importance of contributing to your retirement funds – it should be as essential as paying the mortgage or utility bills!  Besides, contributions to your retirement fund reduce your taxable income, so you’ll definitely make up for it later in the year.

Most importantly, find a savvy investment advisor who is on the same page as you in regards to your retirement plans.  Your investment advisor should help you to maximize your savings as much as possible, while still compiling your portfolio with safe investments.  Remember, your investment advisor should work based on your goals, not the other way around! Learn more about such plans at www.iamllc.biz.

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Ken Himmler, Sr.

Like many baby boomers, you’ve probably been told by more than one person what your ideal retirement age should be – there are even policies that dictate when you should retire!  Since the average retirement age is 65, many baby boomers like yourself believe that’s when the career should be hung up and life as a luxurious retiree should begin.

Or should it?

Turns out, many people are unable or simply unwilling to retire at the age of 65.  With more baby boomers than ever taking out part-time work to supplement their retirement savings or for personal fulfillment, many financial experts are discovering that when it comes to your ideal retirement age, it’s not so black-and-white.

So when is the right time to take up your retirement?

In order to identify your ideal retirement age, you need to look at several factors, including the health of your savings and investments, how fulfilling your current career is and when you’d like to retire altogether.  For some baby boomers, 65 is the perfect age to retire, since they’ve devoted their whole lives to working and now just want to kick back and relax.  For others, their careers are an important part of their identity, and will therefore want to retire later.  How attached are you to your job?  If you’re required to retire at 65 or simply don’t want to, you can take out part-time work in your career field so as to continue enjoying the job you love.

Additionally, you’ll need to examine just how much you’ve saved up.  An important part of retirement planning involves saving up enough money for that target age of 65.  If you’ve been particularly savvy with your retirement savings and can retire sooner, then go ahead.  If, however, you got a late start on your nest egg, then you may need to retire later in order to enjoy a financially secure future.  Unfortunately for some, retirement savings will dictate the ideal retirement age. 

The point is that there is no ideal retirement age.  You can choose to retire at 65, work longer or retire at a young age – whatever the case, when you retire is a personal and financial decision that should be partly made based on the advice you receive from your investment advisor.

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Kenneth Himmler, Sr.

If you enjoy being actively involved in your retirement planning, it can be a bit of a challenge to give up the control of your savings and investments to a registered investment advisor.  Yet many future retirees don’t realize that there are plenty of opportunities out there to become a vital part of the overall retirement planning process: investment education!  Here’s the best part: depending on the investment firm that you choose to use, courses are not only offered online; they usually are offered for free!

Investment education is just the latest advancement in the online investment world, as more and more investment firms are realizing the value of not only providing exceptional investment advice to their clients, but getting them involved in the overall process as well.  The move is proving to be quite popular amongst baby boomers, since more retirees want to stay involved with their retirement planning despite having a registered investment advisor. 

There are several online universities that offer investment education courses, with the option to complete the classes via email or real time in the classroom.  These investment education courses are great for those retirees with busy schedules but still want to stay on top of their retirement planning.

Want to find the right online investment courses?  Just Google the term “online investment education” and browse through all of the listings that appear.  However, before you sign up for a course, make sure that it’s being offered from a reputable source with a great reputation.  Check out http://www.worldwidelearn.com/online-courses/investment-education.htm for an extensive listing of investment education courses that are available either through email or virtual classroom.

Online investment education can provide you a great opportunity to not only study up on your financial know-how, but it can also give you the chance to become more actively involved in your overall retirement planning.  Ask your investment advisor or investment firm if investment education courses are offered online or near you!

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Kenneth Himmler, Sr.

Your 401K, which is a retirement plan that’s funded by both your employer and yourself, plays an extremely important role in the overall makeup of your retirement fund.  Think of your 401K as the meat and potatoes of your retirement planning: it’s one of the few funds that grows tax-free until your retirement and is portable from company to company.  Without the 401K retirement fund as an investment strategy, your retirement dreams can quickly become bust – fast!

So how can you make sure that your 401K retirement fund stays protected, especially during harsh economic times?  Simple: stay involved in your company’s investments!  This is your money!

Thanks to historic examples like Enron – coupled with the bust economy that we are now facing – many baby boomers fear that they’re 401K’s are in danger. Not to worry: there are some government regulations in place that protect your retirement fund.  However, it’s important to make sure that your company is doing proper investment research and allocating your funds across a wide and diverse portfolio of investments.  Remember, now that the stock market is so volatile, it’s important to educate yourself as to your company’s investment terms.  For example, be sure that no more than 10 percent of your 401K is invested in any one company; should that company’s stock plummet, your 401K could take years to get back on track. 

In other words, read the fine print of your 401K retirement fund!  Always do your due diligence and ask questions and speak up if you in any way feel uncomfortable.

It is important to do your research before deciding on any investments-do your homework. For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Kenneth Himmler, Sr.

Picking the right investment advisor to help you plan for your retirement isn’t a choice that should be taken lightly.  Consider your investment advisor to be like your financial guru for the golden years – he or she will help you to pick the right investment options that will turn your retirement plans and savings into a neat little nest egg, so you can spend your retired years in peace and financial security! 

So how exactly do you go about picking an investment advisor who’s a great fit for your retirement options?

Granted, there’s no magical formula for guaranteeing that you’ll find a great advisor right away; it takes plenty of research and a lot of face-to-face time.  If you feel daunted by the task, think of it as yet another investment in your retirement – after all, your investment advisor can turn your life savings into significant income!  Take the time to research investment firms who have great reputations; don’t rule out asking your friends and peers for advice as well, as you’ll be surprised at the recommendations you’ll receive!

Once you’ve narrowed down the investment firms, schedule initial consultations where you can get free investment advice.  Pay attention to what each registered investment advisor says and note any common advice among the various consultants: are they all recommending the same investment options?  Is the investment advice similar?  Is there anyone who stands out in regards to both advice and willingness to see your retirement goals through?  Take notes to help you compare and make your final decision at a later time – after all, this is a major financial decision that shouldn’t be made within the course of an afternoon!

Additionally, you’ll need to take into consideration which investment advisor best fits your budget.  Some of the larger investment firms can be quite expensive, so if you can’t afford the fees, don’t try to justify it – you’ll just eat into your overall retirement savings in the long run!

Choosing the right registered investment advisor doesn’t have to be a difficult process; rather, it just takes a little time and research to make sure that your future advisor’s investment advice fits your retirement goals.  Once you find the right advisor, you’ll be amazed at how quickly your retirement savings and investments will grow into a nice little nest egg for you and your family!

For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401K experts!

Authored by Kenneth Himmler, Sr.