What the numbers suggest.
What the numbers suggest.
Some big-name investment firms believe the 4% rule for annual withdrawals is still valid but most advocate greater flexibility as stock markets gyrate.
Saving for retirement is difficult, and some people simply give up on it. Not having a retirement plan may turn out all right if you die a quick accidental death, but it's not a valid plan for everyone else.
Converting those companies into retirement income is a completely different process. "You want to know that the successor is capable of running the business, because your income is dependent on that person's abilities,"says David Scott, vice president advanced sales at Penn Mutual Life Insurance Co.,which specializes in retirement planning and related insurance topics. A common plan, Scott says, is for the successor to start buying out the founder's share upon the founder's retirement, paying the founder his or her current salary for a set period of time. Mary Ellen Baldwin, a certified financial planner based in Melbourne, Fla., notes that there are several catch-up options available to those over age 50 who are trying to sock away as much as possible for looming retirement.
I had a 401(k) and now must decide whether to cash it out or put it in an individual retirement account. Also, the state of Massachusetts is of no help because it actually counts the 401(k) as income! What type of tax penalty would I face for withdrawal? any distributions from 401(k) plans are included in your taxable income. In addition, any distributions made before you reach the age of 59 1/2 are subject to a 10 percent additional tax penalty unless you meet one of the various exceptions that are allowed by the Internal Revenue Service.
Since I can reasonably expect my husband to live until his mid-80s, I'm thinking of pulling my Social Security at 62. I have not paid into Social Security for 25 years and at 62 could only draw $625 a month. He currently gets about $1,100 a month in Social Security plus a teacher's pension that goes away when he dies. My current plan is to start receiving my Social Security benefits at age 62 and continue consulting part-time so we can travel, and both volunteer as chaplains while he is still physically able.
Baby boomers are suckers for appeals to their narcissism. Generation Xers can't stand their parents. And millennials want to feel like do-gooders. These aren't tired stereotypes. They're lessons marketing ...
Barrick chairman Peter Munk is retiring from the company he built into the world's largest gold producer. Barrick announced Wednesday a major shakeup of its board of directors. Shareholders have been demanding ...
I could say my success was due to my high intelligence, but the truth is that it's more the result of writing about personal finance and spending much of every day reading and learning about the subject. What's the worst case outcome?
New LED holiday lights use at least 75 percent less energy and last 25 times longer than older, incandescent lighting - which means you save. Always remember to unplug your holiday lights before going to bed or leaving the house. As with all appliances and electronics, your holiday lights will continue to draw power even when not in use. Save money and space by opting for a mini artificial Christmas tree.
iBooks' Official Book Charts for the week ending Dec. 2, 2013: Top Paid Books 1. Mockingjay by Suzanne Collins (Scholastic Inc.) 2. Divergent by Veronica Roth (Katherine Tegen Books) 3. Sycamore Row by ...
Retirement planning is filled with conflicting advice. Given changing interest rates and the multiyear run-up in stock prices, here are a few retirement strategies to avoid right now. My father-in-law called me in a panic last month and inquired why the balance on his bond fund was falling. I explained that as market interest rates rise, all bond fund values decline.
We all know that retirement today is not the same as it was for our parents. Pensions are nothing but a dim memory for many of us, and we all worry about Social Security and the cost of health care. Instead, many workers are leaving full-time work in their 50s, and taking lower-paying "bridge" jobs they may hold for several years before finally entering full retirement. 3. Workers have less control over the timing of their retirement.
When Shannon Stell and her husband decided to sell their Yorktown, Va., home this summer, they ran the numbers and discovered that the small amount of equity they built up during two years of homeownership would be wiped out once they paid an agent's commission. Instead, they chose the "for sale by owner" route (or FSBO), and uploaded a listing and photos online with the help of a website called forsalebyowner.com. Both parties hired their own real estate attorneys to prepare closing documents, and Stell says the process went smoothly. Forsalebyowner.com is one of several websites that let consumers list their properties on the Multiple Listing Service, or mls.com, instead of paying a real estate professional to do it for them.
I withdrew $38,000 from my Roth IRA last year due to unemployment to pay living expenses, medical premiums and bills. Is there a way to avoid paying an early withdrawal penalty? Unlike traditional IRAs, distributions from Roth IRAs prior to age 59 1/2 may escape the 10 percent penalty for early withdrawals. If you're over age 59 1/2 there is no 10 percent penalty for traditional or most Roth IRA distributions (that have been in the account for five years).
Now, many members of the younger generation question whether it is a good idea to buy real estate. To be clear, this is a question about purchasing real estate as a residence, not as an investment. When considering whether to buy, there are three major issues to consider: liquidity, return on investment and the personal use value. Buying or selling real estate is timely and costly.
This is La Antigua, Guatemala. The Volcán de Agua (Volcano of Water) dominates the south side of the valley where Antigua is situated. The Volcán de Fuego provides impressive light and sound shows, but is too far away to be a risk to Antigua. Antigua is a traditional city, steeped in history and religious traditions that are preserved today in the processiones (religious parades) that pass through the city streets regularly, especially at Christmas and Easter.
Certain types of retirement contributions must be made by the end of the calendar year to get a tax break, while you can wait to take advantage of others until you file your 2013 tax return. Pay attention to these important tax deadlines when making retirement account contributions and withdrawals. "Look to see if you have maximized your contribution, and if you haven't, you have this last opportunity to do so," says Dirk Huybrechts, a certified financial planner for HFM Advisors in Los Angeles. "If you weren't able to make the full $17,500 contribution, you want to make sure that you contributed at least enough to get the employer match." Contributions to workplace retirement accounts often need to be made by Dec. 31 to qualify for a tax deduction on your 2013 return and to get any 401(k) match your employer is offering for 2013.
Lloyds Banking Group PLC has named Norman Blackwell to the role of chairman, succeeding Winfried Bischoff when he retires next year. The bank said in a statement Monday that Blackwell, who has been a non-executive ...
It can be exciting to contemplate a move from your existing home to someplace more suitable for your retirement years. Whether you are hoping to downsize now that the kids are gone or find a perfect location once you are no longer dependent on proximity to your job, the decision to uproot your life for a fresh start should not be taken lightly.
Research by TD Ameritrade says the self-employed are four times less likely than traditional workers to save regularly
I input a scenario, assuming a husband and wife who are 65, into an immediate annuities calculator, and it resulted in a monthly income of $513 per month for a joint life annuity with no payments to a beneficiary. Your annuity quote would vary from that number based on your joint life expectancy and the interest rate the insurance company used in developing the quote, which you state is 5.6 percent -- an attractive rate in today's low-interest environment.
But how would they find out when bills only come through e-mail and they never check credit card statements? Gym memberships, credit monitoring services and annual credit card fees may have made sense when you signed up long ago, but the recurring charges will continue to eat into your cash flow unless you stay on top of your spending and stop expenses you no longer need. You'll be less sensitive to price increases.
One of the most important aspects of retirement planning that often goes ignored is the structure of investment accounts. According to Pew Research Center, nearly 10,000 baby boomers will turn 65 each day for the next 16 years. Another option if you do not need the money today is to convert money to a Roth IRA, where you'll (hopefully) pay taxes now at a lower average rate than you will in the future. A quick example: Mike and Susan have typically fit into the 28 percent federal tax bracket during their working years.
Unfortunately, you may have to raise some unpleasant issues when you speak with family members over the holidays if you want to ensure a successful retirement. Family issues are just about the only thing investors don't plan for, and it could hurt them in retirement, a new Bank of America Merrill Lynch and Age Wave study shows. The study, "Family and Retirement: The Elephant in the Room," conducted in August 2013, surveyed more than 5,400 respondents and asked about family dynamics and long-term financial planning. The survey found that respondents were generous when it came to assisting family members but unrealistic in assessing some of their own needs later in life, especially long-term care.
People retiring today can expect to live another 20 years, according to Social Security figures. There are no more raises, bonuses or employer contributions to your retirement plan. In 1983 the average college tuition was less than $4,000 a year. If your kids are grown up, you no longer have to worry about college tuition.
I just started collecting Social Security at 66. According to the September 2013 statistics released by the Social Security Administration, you are now in the company of 39,313,000 individuals aged 65 or older receiving Social Security benefits. As a general rule, Social Security benefits are not taxable if they are your only source of income during a year. But if you have investment income or earned income, then up to 85 percent of your Social Security benefits may be taxable, depending on your filing status and the amount of the income.
Successful retirement planning is not one size fits all. Retirement planning for a millennial just doesn't fit retirement planning for a baby boomer who is nearing retirement. First, there are several economic unknowns for those many years away from retirement. Second, personal circumstances that affect retirement planning are impossible to predict.
Take a moment to find out your parents' or grandparents' health and long-term care wishes, whether they've filled out the correct paperwork and what you can do to make the whole process easier. What are your health care wishes? Almost all Americans (94 percent) say it's important to have a conversation with older loved ones about their wishes for end-of-life care, but only about a quarter (24 percent) have had such a discussion, according to a recent Kelton Global survey of 1,067 adults commissioned by the Conversation Project, a nonprofit dedicated to helping people talk about end-of-life care. Even fewer people (20 percent) say they have discussed arrangements for a health care proxy or a document specifying someone to make health care decisions if they become unable to do so.
Spain's Banco Popular said on Monday it would sell its property management unit to two U.S. investment firms in a deal which one source said was likely to be worth around 800 million euros ($1.1 billion). Weighed down by a collapse in the domestic real estate market, Spanish banks such as Popular have been making disposals as they strengthen their capital ahead of a Europe-wide review of their assets next year. Popular said it was selling the business to U.S. investment firms Kennedy Wilson and Varde Partners. It said it would retain a minority stake in the business, which services soured property loans and repossessed real estate, though the U.S. firms will take control.
China has reinforced a ban on selling property built by villages or farmers on rural land, state media reported on Monday, dashing hopes for a quick policy change after a top-level party meeting. The Ministry of Land and Resources and the Ministry of Housing and Urban-Rural Development have jointly issued an urgent circular ordering a halt to sales of "small-property-rights housing", which is built on rural land without going through state planning, the Economic Information Daily said. Expectations that the government may relax controls on sales of such property rose after the party meeting this month pledged to allow rural construction land to be traded in a unified urban-rural market, enjoying the same rights and prices as state-owned land. Chinese urban citizens have been prohibited from buying rural houses with limited property rights, with the government warning that such purchases do not enjoy legal protection.
New Zealand’s premier residential real estate company opens a new showroom and office in Nelson today (Monday 25 November), demonstrating continued expansion and investment in its business. New Zealand Sotheby’s International Realty, which has its head office in Queenstown and offices throughout the country, will open the Trafalgar Street office, making it the third to open in as many months. Independently New Zealand owned and operated, the company is the fastest growing privately-owned real estate business in the country, undergoing significant expansion and investment. The expansive new showroom will be spearheaded by well-known Nelson local Simone Henbrey, alongside local registered real estate salesperson Wendy Lindbom as administration support.
More than 90% of home buyers believe that high levels of insulation and efficient heating and cooling justifies a home having a price premium. When it comes to specific home features such as double glazing, solar panels, efficient energy fixtures and water conservation systems, more than half of home buyers agree that these contribute to a price premium. The first such survey was conducted last year, with 1,725 respondents. We’re seeing a real appetite for good advice and information," says Leigh Featherstone of Homestar.
A U.S. housing regulator has been investigating the activities of a small California not-for-profit that bought hundreds of foreclosed homes through a federally backed program intended to help local communities hurt by the housing bust, according to government documents reviewed by Reuters. The U.S. Department of Housing and Urban Development's Office of the Inspector General late last year began probing San Diego-based Heartland Coalition's participation in the "First Look" program in Las Vegas and other U.S. cities, according to a redacted investigation report and a letter from the regulator in response to a Freedom of Information Act request. According to the documents and a review of local property records in Las Vegas, the charity flipped a significant number of the homes to investors, generating millions of dollars in profits for those financing Heartland's activities with relatively short-term loans. The First Look program, set up in the aftermath of the financial crisis, helps nonprofits and local communities buy foreclosed homes from U.S. banks at a discount, with the expectation that they would then renovate them and first try to sell the houses to low- and moderate-income families or to investors who would rent to such families.
Government schemes, including the "Help to Buy" programme, which guarantees up to 15 percent of applicable mortgages, helped push house prices to an 11-year high by one measure last month, fuelling concerns about a potential bubble that could burst when interest rates eventually rise. House prices will rise on average 4 percent this year and 5.5 percent next and even more in London, according to a Reuters poll of market watchers. The Chancellor of the Exchequer George Osborne has played down talk of overheating and asked the Bank of England for annual recommendations on the impact of the Help to Buy programme, starting in September 2014. Home ownership is widespread, and rising or falling house prices are a major factor in consumer confidence.
* Strong rally in UK housebuilders to slow next year LONDON, Nov 24 (Reuters) - UK housebuilders' shares have more than doubled in two years as home prices have recovered, but an uncertain interest rate outlook and rising costs mean gains look more modest - and more precarious - in 2014. Government schemes, including the "Help to Buy" programme, which guarantees up to 15 percent of applicable mortgages, helped push house prices to an 11-year high by one measure last month, fuelling concerns about a potential bubble that could burst when interest rates eventually rise. House prices will rise on average 4 percent this year and 5.5 percent next and even more in London, according to a Reuters poll of market watchers.
HIGHLAND PARK, Ill., Nov. 22, 2013 /PRNewswire/ -- Concierge Auctions has announced that the auction of Michael Jordan's residence in the Chicago suburb of Highland Park will now be conducted on December 16th. "The interest has been even stronger than we anticipated," stated Laura Brady, President of Concierge Auctions. See Auction Terms and Conditions for full details. About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-net-worth sellers nationwide through an accelerated marketing process that obtains fair market value for unique, high-end properties in a 60-day timeframe.
It can, however, bring you feelings of security, especially when it comes to your retirement. Let's take a look at some of the emotionally fueled reactions that can wreak havoc on your retirement planning: As a result, you might be tempted to "let it ride," and ignore the tried-and-true method of rebalancing, thus making it more likely for your portfolio to become overly aggressive in light of a rapidly growing fund or other investment. Hearing about a co-worker or neighbor who "struck gold" with a particular investment might lead you to try duplicating their strategy.
HONOLULU, Nov. 22, 2013 /PRNewswire/ -- A&B Properties, Inc., a wholly owned subsidiary of Alexander & Baldwin, Inc. (ALEX) ("A&B"), announced today that it has agreed to sell Maui Mall to a partnership of Denver-based Alberta Development Partners and an affiliate of Chicago-based Walton Street Capital, LLC ("W-ADP"). "Maui Mall has been in our Hawaii retail portfolio for over 40 years," said Christopher J. Benjamin, A&B president and chief operating officer. "We were not actively seeking to sell the Mall. However, we like the fact that W-ADP brings a new source of investment to Maui, and based on W-ADP's extensive experience and relationships in retail properties, we are confident that the Mall will continue to thrive under their ownership." "A&B remains strongly committed to Maui.
Private equity and investment firms in recent...
MIAMI BEACH, Fla., Nov. 22, 2013 /PRNewswire/ -- Platinum Luxury Auctions, a nationally prominent auction firm specializing in the sale of distinguished properties and assets, has been retained by racecar champion and entrepreneur Chapman Ducote, CEO of Merchant Services, LTD and co-owner of Merchant Services Racing, an American Le Mans Series racing team, to manage the sale of his Miami waterfront property. Listing agent Tara West of Park Miami Realty is working with Platinum on the sale. The property occupies more than 10,200 interior square feet of waterfront space in Miami Beach's Sunset Harbour neighborhood, a community that has experienced rapid development within the past several years and is considered one of the city's hottest new markets.
Most of us understand our expenses will be different in retirement from what they are today. We ideally will have paid off the majority of our mortgage and our children's educations and will no longer be putting aside money for retirement. There are also unexpected retirement costs that many people face, including caring for family members who need help or children who move back home. Although you may have saved and prepared to support your individual retirement, what do you do when family members unexpectedly need help?
Commercial real estate leasing patterns are showing steady but modest growth, according to the National Association of Realtors® quarterly commercial real estate forecast.
The Costa Rica real estate market is on track to round out the year with a rise over last years numbers. According to the recent market report, interest in gain from European investors. San Jose, Costa ...
Director of BestPricesPaid.co.uk, David Sessford had this to say about the latest surge in 'cash buyers' on the internet:- "There has been a dramatic increase of 'supposed' cash buying companies appearing on the internet over the past 6 months claiming they can buy any house for cash in 7 days. In actual fact, our findings indicate that the majority of these companies are estate agents trying to trick home sellers into signing into lengthy agreements to sell on the open market. BestPricesPaid.co.uk's cash purchase is a popular option for many sellers looking to sell their house quickly without the fuss of estate agents, and get the guarantee of a sale.
CHATTANOOGA, Tenn., Nov. 21, 2013 /PRNewswire/ -- New York City-based Concierge Auctions is pleased to announce the pending sale of the Endless Views Estate, one of Tennessee's premier, luxury homes located on Lake Chickamauga in Soddy Daisy. Following a competitive auction with six bidders, the property went under contract to the highest bidder in cooperation with listing agent Katherine Smith and buyer's agent Julie Lochmaier, both of Keller Williams Realty. "Working with Concierge Auctions has been a very positive experience," stated Smith. Today's auction was exciting, and we would not have been able to have reached this successful result without the help of Concierge and everyone working behind the scenes."
Media Contact: Stacey Corso 510.735.2667 email@example.com Sacramento, Las Vegas and the SF Bay Area posted the biggest gains as of Oct. 31. EMERYVILLE, Calif., Nov. 21, 2013 - ZipRealty, Inc. ( http://www.ziprealty.com ...
NEW YORK -- Griffin Land & Nurseries, Inc. ("Griffin") today announced that a subsidiary of its real estate business, Griffin Land, LLC ("Griffin Land"), closed on the sale of approximately ...
MCLEAN, Va., Nov. 21, 2013 /PRNewswire/ -- Miller & Smith , an award-winning homebuilder and real estate development company, announces today the launch of its new corporate website www.millerandsmithcompanies.com ...
Housing starts have been highly depressed since the real estate collapse and even a small improvement in the economy will drive activity.
Second quarter earnings for the builders were generally strong, but we began to see some cracks in the foundation for the first-time homebuyer.
National foreclosure inventory stands at 1.5...
BROOKLYN, N.Y., Nov. 21, 2013 /PRNewswire-iReach/ -- Attendance and interest are building for the inaugural New York Winter Apartment & Five-Borough Retail Summit, the next installment in The National ...
Post Properties, Inc. , an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.33 per share for the fourth quarter of 2013.
Despite the financial toll the recent financial crisis has had on Americans, renters continue to hold homeownership in high esteem, and it remains a goal for the majority of them,
NEW YORK, Nov. 21, 2013 /PRNewswire/ -- Silverstone Property Group today announced the sale of 143-145 West 4th Street, a two-building, contiguous, six-story multifamily building in the West Village for $19.2 million. The announcement was made by Silverstone's co-founders Josh Zegen, Brian Shatz and Martin Nussbaum. Silverstone purchased the property in August 2012 for $11.325 million and spent the last year renovating and reconfiguring the residential units to maximize layout efficiencies, as well as upgrading and modernizing the property overall. The property was marketed and sold by Peter Von Der Ahe and Joe Koicim of Marcus & Millichap.
Homes.com, a leading online real estate destination and a division of Dominion Enterprises, has released its September Local Market Index, a price performance summary of repeat sales of U.S.
EDISON, N.J. , Nov. 21, 2013 /PRNewswire/ -- Mack-Cali Realty Corporation (NYSE: CLI) today announced that it has acquired the two-building, 159-unit multi-family property known as Park Square in Rahway, ...
SEATTLE, Nov. 21, 2013 /PRNewswire/ -- Redfin ( www.redfin.com ), the technology-powered real estate brokerage, today released its first-ever in-depth analysis focusing specifically on Austin, Dallas and ...