The Baby Boomers Retirement Blog » Pension Planning

Retirement Money Traps

Istvan Horvath — Mon, 13 Jul 2009 18:58:03 +0000

Trying to figure out how to live on a retirement income is a worthwhile exercise, yet many people overlook some possible money traps. The things we don’t always think of can have an impact on our finances. As you will see, these things are never more important than they are during retirement. Travel. While ‘travel’ is mentioned specifically, it really refers to anything we’d like to do for fun. You’ve already paid your dues working for a boss, now is your chance to do the things you always wanted to do. But that fun can add up, so be sure to figure it into your calculations. Health concerns. Not to sound depressing, but aging is a slow deterioration of the

Do You Have Enough Money For Retirement?

Istvan Horvath — Sat, 13 Jun 2009 18:32:42 +0000

The economy is in a sorry state. Whether that is true where you live right now, or not, there is no doubt that financial markets are constantly rising and falling. The younger you are, the more able you will be to ride out the fluctuations, but youth is still no guarantee of a secure future. For people nearing retirement this can be nerve-wracking. Baby boomers, for example, are going to need their retirement savings and pensions sooner rather than later. Know where you are – Before you can do anything about improving your retirement income, you need to have an idea of where you’re starting from. The more honest and thorough your assessment, the better. Add up all of your

Who needs a digital pension?

Istvan Horvath — Tue, 12 May 2009 17:12:31 +0000

Almost everybody needs a digital pension. What the heck is a “digital pension”? – you may ask and you are right in doing so. Let me remind you that we live in a digital era. The Digital Revolution meant the end of the Industrial Age and the beginning of the Computer Age or Information Era. Nowadays, many people tend to think of the Information Age or Digital Era in terms of cell phones, digital music, high definition television, digital cameras, email on the Internet, the Web, and other relatively new products and services that have come into widespread use. The pace of change brought on by such technology has been very rapid. One of the biggest changes that influenced

Baby Boomers: the wealthiest generation or financially retarded?

Istvan Horvath — Fri, 27 Feb 2009 01:54:18 +0000

The other day I had a discussion about my Pension Report (download it if you don’t have it yet) with two young men of my son’s age: early thirties. They were trying to convince me that the report together with upcoming Pension Manual might be useless, since the Baby Boomers — you, the Boomers, as they put it — are the biggest spenders of all times and the highest earners as well. While all that is true, I know for sure that the other half of the equation is also true. Namely, that we, the Baby Boomers are not prepared for our retirement. Read this random quotations from very respectable studies and reports, and you be the judge: The comprehensive study of nearly

Is the Baby Boomers’ pension gap generated by the present financial crisis?

Istvan Horvath — Sun, 25 Jan 2009 19:22:22 +0000

Lately quite often during discussions with my clients about the retirement perspectives of the Baby Boomers I hear a question like this: Is the looming pension crisis of the Baby Boomers related to the recent financial meltdown? My answer is always no, and here is why. The visible signs of the financial crisis we are going through started to show up just at the end of last summer and then during the fall of 2008. (The root causes have been present much earlier, but now we will skip the analysis of the credit crunch…) On the other hand, the signs — the writing on the wall, if you wish — telling about the pension gap threatening the Baby Boomers were obvious for quite a

Don’t panic about your pension!

Istvan Horvath — Wed, 03 Dec 2008 19:23:16 +0000

Yes, that’s the first rule when making decisions about your pension and retirement investments. Don’t ever panic! Acting under the pressure of fear, anxiety and other emotional factors… will always result in bad decisions. Knee jerk reactions have no place when you make a decision that could affect your long term wealth. I am aware that the media is bombarding you, and everybody else, with horror stories about the market meltdown and the looming economic catastrophe. Just say NO to all of them. The “news factories” are not reporting the news: they create the horror news to attract more viewers, readers, visitors. They indulge in these ‘crisis’