Retirement Planner: Financial advisers need a steady hand
Putting your faith in financial adviser.
Irving Kahn, the founder of the money management firm Kahn Brothers Advisors, just died at age 109 in New York City, where he had been coming to work on a daily basis.
With American stocks reaching an historic high water mark last week, the feeling I now have reminds me of the days when I was the parent of teenage children.
A recent study said that more than 70,000 Americans are over 100 years old and that one-third of them were still driving. What those folks represent is the statistical "long tail" of the bell curve that represents how long the average male and female will live beyond 65.
Everything I read on the subject tells me that the most anyone can safely expect to take as income from their retirement accounts is 4 percent per year.
Find ways to save money so you can take advantage of this year's $18,000 maximum limit ($24,000 for those 50 or over.) Remember that you're only affluent and not rich. The rich are different. They have money.
At best, economists and money managers offer food for thought in interviews or written opinions, but beyond their entertainment value, these "insights" have little bearing on the basics that matter to amateur investors.
The goal in retirement is to organize investments in such a way that they generate income of roughly 5 percent per year and still gain in value overall to keep pace with inflation. This is not that difficult.
( Warner Bros. Picture )
Review: 'Get Hard' is not for the sensitive
Stars Will Ferrell and Kevin Hart are a good comedy team, but 'Get Hard' is full of off-color jokes about race and sex that will offend many viewers, and it gets repetitive at times.
'The Sopranos' Drea De Matteo loses New York home in explosion
'Modern Family’ actress Sarah Hyland grew up across the street from buildings that burned and collapsed in accident caused by gas and plumbing work.