olympic savings

Olympic Savings

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With the Olympics well underway, it is a good time to think about winning the gold in Olympic Savings. I feel old when I say the Olympics do not seem as compelling as they once were. Sure, the Michael Phelps story continues to amaze, Simone Biles, Simone Manuel, Lilly King and Kristin Armstrong have all added tremendously to the spectacle. I don’t know, the coverage seems weak, annoying even, they barely show beyond the US team, you’re lucky to find ‘minor’ sports, and the delay is really annoying. Rant over for now, but I am sure there are many more good stories at the games that we just will not see. So, as they say, let’s control what we can, as always that means your retirement security. How can you win the gold in Olympic Savings?

 

Win the Olympic Savings gold by ensuring you save enough for retirement.

We talk about longevity with some regularity here, but Millennials need to pay particular attention. Merrill Lynch’s Dwyer Says It’s Important for Millennial Investors to be Disciplined

Rules of thumb are great starting points (of course we consistently pick apart the 4% rule here). There is a lot of value in granularity, too. So, keep an eye on the things people miss when planning. 6 Big Expenses Retirees Didn’t Save For – But Should Have

As you can see from the comments on this one, it stirred some controversy. Still, it is a valid point and worth your consideration. Estimate Your Retirement Income Needs Based on Your Spending, not Your Income

 

Win the Olympic Savings gold by investing wisely for retirement.

It is best to have an investment strategy that encompasses all your savings – 401(k), IRA, pension, investment accounts, etc. That means you will have the chance to do some things yourself. So learn about hot strategies and try some you like. Testing Smart Beta with Two Relatively Long Real-Time Records

Of course, everyone has heard about the outperformance by low cost indexed products vs. higher cost actively managed funds. Is that really the long-term answer? Let’s face it, when markets go down, indices go down … actively managed funds may not. Is Active Management Dead? Not Even Close

Do not become an active investor by any means, but do stay abreast of opportunities. Market timing almost never works, even for the best and day trading is another race to the bottom, largely. Still, opportunistically finding gems … ideally finding them, yourself … can make this more fun and boost your nest egg. Inside EQAL: A Strategy That Has Doubled Return of S&P 500

 

Win the Olympic Savings gold by focusing on building an income stream during retirement.

Dividend stocks are one good way to drive income without harvesting principal in retirement. That is why we keep giving you leads on good ones. AT&T: Dividend Investors’ Dream

I clicked through on the author of that article to see what else he had written. You should do the same when you stumble upon something that makes sense. Turns out he likes NextEra Energy, too. Funny thing is an old GE colleague has been in charge there during this period as “one of America’s fastest-growing and best-performing utility stocks.” NextEra Energy – One of America’s Best Utilities Keeps Getting Better

Returning to this notion of having a plan, we often share data debunking the age-old 4% withdrawal rate rule. To be completely fair, I give you new data from T. Rowe Price that supports it. I only ask does a decades old adage make sense, knowing what you do about dramatically increasing longevity? How to reduce the risk of outliving your money

 

Win the Olympic Savings gold by staying aware of your environment.

Not much you can do about this aside from understand and avoid related pitfalls. You may be fascinated to realize it, though. S&P 500: This is Critical Information for Each and Every One of Us

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