Retirement – Page 2 – TGIF 2 Minutes with Kerrie Debbs, CFP

More on PCL…and WRW!

Good morning and TGIF,

A couple of weeks back the topic was PCL, or Post-Career Lifestyle. I received more comments than usual from people of all ages – and a number of cool ideas on how to look at the “nonretirement” concept of saving today in order to do what you love tomorrow. “Doing what you love” in a post-career lifestyle can include continuing to work for pay, slowing down and enjoying a “side gig” or truly retiring and ending working altogether.

Another excellent factoid revealed was that women and men tend to look at retirement and post-career lifestyle differently. Women also have a lot more to say about their attitude toward saving (whether for PCL or retirement) and managing the savings habits of their families. This translates into a concept best described by the acronym, WRW*, or Women Rule the World.

Now before the men reading this say, “Wait a minute!” a couple of notes of clarification.

Continue reading “More on PCL…and WRW!”

PCL is The New Thing!

“Retirement” is so yesterday.

How about PCL instead? PCL = Post Career Lifestyle. It may turn out to be the way to go for a number of reasons.

First of all, “retirement” may be impossible to imagine if you are embarking on a first job or are early in a career. I mean… age 59½?? That age is nearly irrelevant and definitely forever in the future!
On the other hand, “Post-Career Lifestyle” feels way more attainable and easier to imagine. Think: someday… when I can have a lifestyle that is more balanced – on MY terms – somewhere between work and relaxing.

Continue reading “PCL is The New Thing!”

Caring For an Aging Friend

Back in 2017 & 2018 TGIF 2 Minutes explored “Caring For Aging Parents”. The topic and its challenges will always be timely. And there is another angle to the issue that can be equally as gut-wrenching: caring for – or caring about – an aging friend or neighbor who has little or no family available and no apparent plan for aging.

**Friends are not family,** but we can care about friends just as much or more.

Continue reading “Caring For an Aging Friend”

The Elephant in the Room

“Elephant in the room,” “ticking time bomb”…whatever you wish to call it, there is an issue currently present but not talked about nearly enough. The issue hits a nerve with nearly everyone – investor/saver or not. The issue is taxes – more specifically future taxes on retirement savings. Unfortunately, the issue has become so politicized that its true impact has almost been forgotten.

*Tax rates and total taxes paid may be higher or the same as today for lots of savers in retirement*.

Back in 2016, I discussed part of this topic in TGIF 2 Minutes. (Click Death & Taxes to read.) At that time, the focus was soaring healthcare costs.

Continue reading “The Elephant in the Room”

Goals Gut Check

From the TGIF 2 Minutes Archives earlier this year PRE-coronavirus…

Earlier this year in February things were GOOD! The economy was cranking, unemployment was low, wages were up, and it was a somewhat perfect time of the year to set goals. Think: it was pre-tax filing time and after the holidays.

Fast forward to today… the world has changed. Our savings have been tapped in the pandemic — and new savings and other goals need to be reset! While the kids may now be going back to school (followed by maybe not??) using this precious time to set just a handful of goals can pay off toward achieving those goals.

silver and gold coins — Give yourself a **“Goals Gut Check”** with this precious time before things potentially go a little haywire.

Continue reading “Goals Gut Check”

Why Do We Save Money?

As we persevere through the coronavirus pandemic, consider the following message from the 2019 Archives of TGIF 2 Minutes….

What is your reason for saving money? Is it retirement? Or are there “mini-goals” that would feel really great to achieve today?

Of course, retirement is often a primary long-term savings goal, but not always. “Retirement” encompasses more than simply stopping work and being on a “permanent vacation.” In fact, research published in the Journal of Financial Planning* reports that quitting work cold turkey often is not reality – for a number of reasons.

green typewriter on brown wooden table — **What is your reason for saving money?** Is it retirement? Or are there **“mini-goals”** that would feel really great to achieve **today**?

Continue reading “Why Do We Save Money?”

Is This Time Different?

Originally titled, “Practical Suggestions, part 2” this edition of TGIF 2 Minutes covers a topic more related to “Is This Time Different?”

Related to a specific situation or event, most everyone has heard the bold acclamation, “This time is different!” Then, there are those who firmly believe that times are NEVER different… and that time simply repeats itself but with different nuances.

Looking at today, who is correct? The past 12 years are evidence of BOTH.

In saving for or in retirement, it has never been more important to have a mix of a comfortable amount of safe cash plus a well-designed portfolio.

Continue reading “Is This Time Different?”

A Warm Up For Retirement

Retirement? What do you mean, Retirement?! That is in the waaay distant future, you may say.

Well the lock down, shelter in place, husbands and wives/girlfriends and boyfriends/parents and kids working from home TOGETHER is just that: a warm-up for retirement. Or a forced “retirement together” for those already retired.

competition dispute goats — **Retirement – or being one-on-one 24/7 with the same person or people – is not as easy as it looks!**

Continue reading “A Warm Up For Retirement”

Not-So-Fat Tuesday

Originally titled, “Gut Check in Rocky Markets” but with a new twist the following excerpted edition from the archives of TGIF 2 Minutes is timely on (Not So) Fat Tuesday. Please keep in mind three new factors:

The political divide currently in the US is adding to market tensions and even politicizing the Coronavirus,
Primary Elections and Debates and the policy issues being brought forth are next-to-center stage in the media,
A still very recent UP 29% equity market in 2019,

and there exist the makings of a potential market correction. A market correction is defined as a decline of 10% from a recent high; the US equity markets are down over 6% in two days and are nearing an official “market correction” in 2020.

Coronavirus Stock Market — A “Not-So-Fat Tuesday” as the Dow sank 879 points after worrisome forecasts about the coronavirus.

Continue reading “Not-So-Fat Tuesday”

Achieving Financial Goals

At February 21st, while the year is still young… the time is perfect for reviewing or setting goals for this year and the years and months to come. No pressure. The holidays are in the past and the deadline for filing 2019 taxes is still a bit in the distance – for now!

At this somewhat perfect time of the year, goal setting can pay off in a big way toward achieving those goals. Often goal setting is difficult to start with a blank sheet of paper so here are a few tidbits to create momentum:

green palm trees and white gazebo — Setting financial goals is difficult, so start by thinking in terms of categories: Work, Fun, Family.

Continue reading “Achieving Financial Goals”