The Easiest Way to Create Retirement Wealth

Create Retirement Wealth

People who are far from retirement often widely misjudge the total savings they’ll need. A big reason for this is the pervasive impact of inflation over decades. We tend to assume a dollar is a dollar is a dollar. Not so. In 1970, the average cost of a new car was $3,900. By 1990 the average new car cost $16,000. Today the cost is well over $20,000. Let’s imagine that type of price inflation continues. It could drive the price of a car in 40 years to more than $100,000. What $1,000 Bought in 1970 Now Costs $6,000 Here’s another way to view inflation. According […] Read more »

4 Surprising Insights about High Net Worth Retirees

wealthy retires can struggle in retirement

Wealthy Retires Can Struggle in Retirement Did you know that only 13 percent of workers are very confident of having enough money to live on when they stop working[1]? That percentage is low even for people who have a high net worth. So let’s reveal some truths about retirees and workers who will soon face retirement. Insight #1: Wealthy People Often Struggle In Retirement I’ve seen it many times. Some wealthy people fail to understand the serious financial challenges that even their high net worth can’t protect them from when they retire.  They don’t see the many factors that can destroy financial comfort for anyone: […] Read more »

7 Deadly Investor Traps

7 Deadly Investor traps

Click to view this slideshow “7 Deadly Investor Traps” on Slide Share Was this helpful? Can I help you think through any other issues about your retirement? Please feel free to call me, Gene Offredi, CFP, RFC at 203.453.1017 or visit our website at Summit Investor Coach, LLC.   Tweet Read more »

A Simple Retirement Checklist

retirement checklist

It doesn’t matter whether you’re wealthy or a successful business owner or someone just getting by. No matter what your situation, planning for retirement can seem overwhelming. I know people who have failed to thoroughly plan their retirement because it seemed too complicated and time-consuming.  Lots of people feel that way.  People get stuck in the details. Today I’d like to make retirement planning easier for you. Here’s my solution. Skim this simple retirement checklist.  You don’t even have to read the whole thing. Find one item that interests you and work on it. When you’re done with that one item, take a break. Then […] Read more »

The Best of Our Best Advice

We went through our archives for nearly a decade of collected wisdom that still holds up. Warren Buffet Chairman and CEO of Berkshire Hathaway I had two mentors: my dad, Howard Buffett, and Ben Graham. Here were these two guys who I revered and who over the years gave me tons of good advice. But when I think about what they said to me, the truth is, the first thing that comes to mind is bad advice. I was not quite 21 when this happened, in 1951, and just getting out of business school at Columbia. I had just taken Ben’s class there — and […] Read more »

Don’t Be Among the 33% of Small Business Owners without a Retirement Plan

Don’t Risk Your Financial Future I hate reading news like this: the Fox Small Business Center reports that one in three small business owners don’t have a retirement plan and have no idea how they will retire. This is scary. Especially in this fragile economy and this time of government cutbacks, we all need solid retirement plans. This is particularly important to me because I believe every financial advisor and every financial coach should focus on educating clients and motivating them to prepare for major issues like retirement. More Important Than Healthcare Reform I’d argue that your preparation for retirement is more important to your […] Read more »