It’s time for the good news first: in recent weeks, the stock market has soared considerably, which means that your 401(k) retirement account is looking forward to a bright future.  The bad news? The damage that the recession has done – and could potentially continue to do – won’t be undone in just a few weeks.  In fact, it’s going to take some work to get your retirement savings back on track where they belong.  But don’t worry, you won’t have to take up a second job as an investment advisor; just follow these easy steps to revive your 401(k) retirement account in no time:

Stop Guessing About That Bottom Line. Sure, the recession has ravaged our savings and investments; but could it be that a little bit of education can go a long way?  When it comes to your retirement, it’s certainly true: the more you know about how your 401(k) retirement account is doing – and how much you’ll need to reach your retirement age – the less stressed you’ll be about retirement.  Additionally, figuring out the bottom line of your retirement savings will let you know if you need to scale back or start reinvesting.  It’s safe to say that when it comes to retirement, ignorance is certainly not bliss!

Cut Expenses.  As you approach your retirement age, you may think that it’ll be easier to saving more aggressively for retirement; after all, your mortgage payments will be smaller and your kids will be grown.  However, if you’re still paying for your kid’s college or considering that second home, it’s time to become aggressive with your savings, since your retirement should be your number one priority.  Besides, student loans exist for a reason!

Go In For A Tune-Up. If you have a 401(k) retirement account, schedule an appointment to talk with your investment advisor about where you are right now.  Does he or she recommend safe investments as you approach your retirement age, or can you consider an early retirement?  Whatever the case, your investment advisor will shed some new light on where you stand in regards to those retirement dreams.

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

So how do you set the right goals that set you up for retirement success?  Follow these simple steps and you’ll see results in the form of more dollar signs:

• Forget the idea that Social Security will set you up for a decent retirement.  To set realistic retirement goals, you need to get comfortable with the idea that you’ll need to eliminate Social Security from your thoughts entirely.  While these checks will provide a supplemental income each month, they’ll hardly pay for your monthly utility bill; so set goals that involve just your savings and investments.
•  Figure out what your retirement age is going to be.  Although you can guess at your retirement age, this will definitely be influenced by how much you’ve already saved and how much you’re planning to put aside.  If you can save enough to reach your retirement age, then fine; if not, considering pushing up the date by a few years to give your savings and investments more time to grow.
• Approaching your investment advisor with a concrete goal in mind is one of the best ways to map out your retirement planning.  To get a firm number to approach your advisor with, search online for a free retirement calculator that can help you determine how much you should save in order to retire comfortably.  Once you’ve got this number in mind, it’s time to plan your savings and investments around it – and enjoy the kind of retirement that you’ve always dreamed about!

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

Well, that’s what many financial experts are proclaiming anyways.  Thanks to the perfect storm of future inflation and the depleted funds of Social Security and Medicare, more people than ever are starting to break a little sweat when they think about the health of their retirement savings; some are even tempted to pull out altogether for a couple of years just to avoid the economic crisis.

However, just because the economic forecast is less-than-desirable doesn’t mean you should immediately fire your investment advisor and pull out of your 401(k) retirement fund; rather, the key is to be smart and use the time you have to counteract inflation and Social Security with savings of your own.

If you think that your savings and investments are safe from any future catastrophes, let’s take a look at some scary figures to get you in gear.  Economic experts have indicated that Medicare and Social Security deficits are likely to spring up starting in 2010 – just a few months from now.  With a likely deficit of almost $1.25 trillion soon upon us – and a depleting number of younger people who will be funding the baby boomer generation’s retirement – it’s no longer enough to count on your Social Security checks to see you through.  What’s more, inflation is set to skyrocket prices within the next decade; so if you’re on the brink of retirement, make sure your savings and investments are as healthy as possible.

Make an immediate appointment to talk with your investment advisor to assess where you are with regards to your retirement planning, and what you can do to get back on track.  While time might not be on your side if you’re of an older generation, those hitting 40-50 can still save aggressively with great results.  Apart from your 401(k) retirement fund, start contributing $500 – $1,000 a month for ten years to a brokerage IRA; assuming an 8% annual return rate, you can have anywhere between $268,002 and $550,000 by the time you retire at 65.

That’s a lot of cash to pad any unexpected bumps on the retirement road!

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

Authored by Kenneth Himmler, Sr.

Well, that’s what many financial experts are proclaiming anyways.  Thanks to the perfect storm of future inflation and the depleted funds of Social Security and Medicare, more people than ever are starting to break a little sweat when they think about the health of their retirement savings; some are even tempted to pull out altogether for a couple of years just to avoid the economic crisis.

However, just because the economic forecast is less-than-desirable doesn’t mean you should immediately fire your investment advisor and pull out of your 401(k) retirement fund; rather, the key is to be smart and use the time you have to counteract inflation and Social Security with savings of your own.

If you think that your savings and investments are safe from any future catastrophes, let’s take a look at some scary figures to get you in gear.  Economic experts have indicated that Medicare and Social Security deficits are likely to spring up starting in 2010 – just a few months from now.  With a likely deficit of almost $1.25 trillion soon upon us – and a depleting number of younger people who will be funding the baby boomer generation’s retirement – it’s no longer enough to count on your Social Security checks to see you through.  What’s more, inflation is set to skyrocket prices within the next decade; so if you’re on the brink of retirement, make sure your savings and investments are as healthy as possible.

Make an immediate appointment to talk with your investment advisor to assess where you are with regards to your retirement planning, and what you can do to get back on track.  While time might not be on your side if you’re of an older generation, those hitting 40-50 can still save aggressively with great results.  Apart from your 401(k) retirement fund, start contributing $500 – $1,000 a month for ten years to a brokerage IRA; assuming an 8% annual return rate, you can have anywhere between $268,002 and $550,000 by the time you retire at 65.

That’s a lot of cash to pad any unexpected bumps on the retirement road!

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

Authored by Kenneth Himmler, Sr.

After 20 years, service personnel are entitled to a pension which is 50% of their pay, and is increased in line with inflation. Each additional year of service adds 2 ½%, so they receive full pay if they serve for 40 years. While this pay is assured if they complete at least 20 years, there is no vesting such as you get with a private company, which means that if they left after 19 years they would not receive any benefits.

There have been some options introduced by the government, and you need a military retirement calculator to be assured of the best choices, but these are the basic guidelines.

In this way, military personnel are not tied to the performance of individual retirement accounts for their income, nor do they have to reach normal retirement age before receiving benefits. It would be easy to think that they would not be concerned about financial retirement planning, but the truth is that retirement savings can be just as important to retired service personnel as they are to the rest of us in giving them the quality of life that they desire.

One of the finest places to go to for an investment education is the Integrated Asset Management website, www.iamllc.biz. There you will find detailed investment education on all financial topics, and can get the help of an investment advisor, such as Ken Himmler (www.kenhimmler.com), who is experienced in all aspects of retirement planning.

Authored by Kenneth Himmler, Sr.

Take A Deep Breath.  Like with most statements, sticker shock is a normal feeling.  Remember when you first took out that mortgage?  How about when you discovered how much interest you’ve been paying on those credit cards?  Don’t let sticker shock regarding your 401(k) retirement fund overwhelm you; remember, you have plenty of time to make up for any losses incurred.  On the bright side, markets recently have been looking up, with consumers showing more confidence in the economy (www.msn.com).  This means that your savings and investments have already been gaining on any losses since 2008.

Take Action. You can sit and bemoan that your 401(k) retirement fund isn’t up to par – or you can take action to ensure that you’ll have a comfortable retirement!  Visit your investment advisor to see how you can boost your numbers by the time you reach your retirement age.  Whether you need to heavily invest in an IRA (putting aside $500 a month for ten years can net you up to $300,000, assuming an 8% return) or move your money to safe investments, your investment advisor will help you come up with a better retirement plan.

Cut Expenses.  For those on the edge of retirement, a smaller fixed income will definitely necessitate cutting any extra expenses.  Instead of paying for your child’s college education or buying that second home, use that money to vigorously invest in the market.  After all, who says that you’ll stop investing once you reach your retirement age?

The bottom line is that you shouldn’t regard your 401(k) retirement statement as final.  Thanks to savvy investments that will last well into retirement – along with smart budget cuts – you’ll have a long and happy retirement to look forward to.

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

Authored by Kenneth Himmler, Sr.

Don’t Let Emotions Hold You Back. Debt can be depressing enough – but debt that’s caused by divorce or a medical emergency can be downright debilitating.  Don’t let your emotions get the best of you when it comes to starting over with your retirement; instead, separate your personal issues from your finances and move forward.

Get An Objective Opinion. This is where an investment advisor or financial planner comes in.  If you’ve had your money basics down pat and just need to boost your savings after a divorce or medical emergency, then go for a registered investment advisor; if, however, you don’t know how to rub two dollars together, get a financial planner to teach you the basics about money.

Don’t Second-Guess The Numbers.  Don’t live in ignorance about your overall retirement savings or your debt – sometimes facing up to what you owe can be more freeing than ignoring the numbers.  Again, get that investment advisor to help you come up with savings and investments that will get you back on track towards financial security again.

Cut Expenses. The old saying really is true: every little helps.  This means you’re going to have to comb through your expenses and get deals wherever possible.  While you may not see the benefits at first, trust us, it adds up at the end of the year.  Additionally, don’t drain anymore of your resources on major purchases – this means if you have a kid in school, have them take out student loans to finance their own education.  It’s harsh, but it’s necessary to get your retirement back on track.

Keep Working.  It might be time to push your retirement age up or earn extra money on the side – whatever option you choose, the extra income will help cushion your retirement savings.

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

Authored by Kenneth Himmler, Sr.

For instance, while you are familiar with mutual funds you may not know so much about hedge funds. In fact, unless you are wealthy, you may not even qualify to invest in a hedge fund. The Securities and Exchange Commission, which in the main does not regulate hedge funds to anything like the same extent as mutual funds, requires that investors have a certain net worth or annual income before they can invest in a hedge fund, this qualification supposedly implying that the investor is in some way more knowledgeable or sophisticated.

If you do not qualify, why would this be of interest you? That’s because increasingly there are investment options available to you which emulate some aspects of hedge funds. You can buy certain mutual funds which are readily purchased, that have some of the attributes of hedge funds.

For instance, some hedge funds seek to achieve greater returns by leveraging the investment using derivatives and sometimes borrowing money to increase the stake. You can find mutual funds which also use derivatives to leverage your investment. Note that this is not necessarily a recommended investment, as it does increase the riskiness. You may not consider these types of investment strategies suitable for your retirement planning.

However, if you know how hedge funds aim to increase their returns, you may be able to use some of the techniques in your own investments. The advantage of this do-it-yourself approach is that you will not have to pay the high fees, such as 20% on the profits, which seem to be the normal charges when investing in a hedge fund. The better educated you are on your investment choices the more likely you are to achieve your goals.

Ken Himmler (www.kenhimmler.com) is an investment advisor who can discuss many different financial plans with you. If you go to the Integrated Asset Management website (www.iamllc.biz), you will get an idea of the range of securities and financial vehicles that are available.

Authored by Kenneth Himmler, Sr.

Step Up The Investing.  Now that employers have automatically enrolled their employees in retirement savings plans, saving up for the day when you give that retirement speech doesn’t involve much effort.  However, if you want to retire a bona fide millionaire, you’ll need to make smart investments outside of your 401(k) retirement fund.  Hire an investment advisor to help you make safe investments that will further cushion your nest egg – and propel it into the seven-figure range.

For your best bet, check out Roth IRAs or Roth 401(k)s; both are great additions to any investment portfolio and withdrawals are tax-free after the age of 59.

Check The Health Of Your Portfolio.  Don’t just cross your fingers and pray that your investment advisor will give you the thumbs up to retire; instead, go for yearly check-ups on your portfolio to make sure that your retirement savings are on track.  It’s best to catch your investments if they’re doing poorly and quickly fix them with the help of a financial planner.

Never Cash Out Your 401(k) Retirement Fund.  When you change jobs, it can be tempting to cash out your 401(k) retirement fund to pay off any toxic debts – however, if you want to retire with seven-figures sitting comfortably in your bank account, then you’ll need to roll over any old 401(k) funds into investment schemes offered by your new employer.  If you’re still interested in cashing out your 401(k), remember that you’ll be heavily taxed for doing so – in fact, you could end up losing up to 25% of your retirement savings.

Cut Excessive Expenses.  Even if you’re saving a little of each paycheck, you can still retire a millionaire – if you cut out excessive expenses.  Forget paying for your child’s college education (after all, that’s what student loans are made for) and running up those credit card debts.  Live within your means, and you’ll be able to afford a more luxurious lifestyle once you retire.

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

Authored by Kenneth Himmler, Sr.

Most people underestimate how much inflation will affect their retirement plans. Just like compound interest, the effects of a relentless year on year accumulation are significant. For instance, if you retire at 65, and think you may live until 90, which is not unusual nowadays, you will need about twice as much income in your twilight years as you do when you have just left your job.

The problem with inflation is that there is no person or body to whom you can appeal if you think you have been hard done by. Inflation happens, get over it! You should check that your investments are well-placed to nullify the worst of runaway inflation, and make sure your investment strategies include either a good initial margin or an excellent annual return in order to deal with it.

I can’t emphasize strongly enough the need for a good investment advisor, such as Ken Himmler (www.kenhimmler.com), or a company such as Integrated Asset Management, (www.iamllc.biz) who can look after your interests. Inflation has averaged nearly 3 1/2% since the beginning of the 20th century, and that rate of inflation requires more than double the income over 25 years — more recently the rate has been lower, which still requires nearly twice as much income over the same period to buy the same goods.

What are we to make of the current administration’s plans? The $250 bonus is very welcome. However, we have not yet seen the impact of all the proposed spending, and experts generally agree that creating spending will result in inflation. There is a purpose to the funds that are being provided to stimulate the economy, and they may well be needed at this time, but that does not change the fact that they will lead to greater inflation.

Retirement living is often on a relatively fixed income, and those who are already retired will find it hardest to adapt to the increased inflation which is likely to occur. Nonetheless, the best investments will allow you to come out ahead, and enjoy a long and relaxed retirement.

Authored by Kenneth Himmler, Sr.