Retirement Calculator

Do You Need $1,000,000 to Retire?

The myth of needing $1,000,000 in retirement savings resides in the same camp as drinking 8 glasses of water a day–both numbers are widely assumed to be truisms although no one even knows where they originated. How much money one needs for an acceptable retirement is not a one-size-fits-all equation. The answer boils down to …

Irrational Exuberance

Regardless of your political persuasion it’s hard to argue that life isn’t improving these days for most Americans. The recently passed Tax Cuts and Jobs Act plus the administration’s deregulation initiatives have combined to help register the nation’s lowest unemployment rate in 18 years. Black unemployment currently stands at the lowest rate ever recorded. Wages …

Your Life Is NOT a Spreadsheet

Financial advisors go on and on about the “retirement crisis” facing millions of Baby Boomers. They quote the statistics from study after report after study that all reflect the poor saving habits of an entire generation. They then tell us that too many Baby Boomers are expecting Social Security to fund their entire retirement when …

Throw Away the Retirement Calculator

Talk about having a bad day. I just plugged numbers I’ve compiled about the average income and savings of Americans nearing retirement into one of those online retirement calculators. It suggested, among other encouraging ideas, that I increase the rate of return on my investments to around 30% and delay retirement until I’m 108!! This …