Join Early Retirement Today
Thread Tools Display Modes
Right Retirement Tools
Old 01-26-2015, 01:50 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,667
Right Retirement Tools

This recent WSJ piece covers a number of sensible retirement tools that can be handy when planning for that big event- retirement.

Among those tools: a realistic budget paired with an efficient plan for withdrawing money from savings; an experienced accountant, attorney and source for financial advice; investments that match your cash needs and stomach for losses; up-to-date estate-planning documents; and a nonfinancial plan for staying engaged during retirement.
All pretty general stuff, but this snip caught my eye. Maybe I need to review my ISP once again.

Updating planning document are a must. That includes a will, power of attorney and a health-care proxy. Beneficiaries on retirement accounts and insurance should be kept current.
“There are a lot of people who have never done planning, or did their plan when their kids were babies,” says Ms. Hobson. “Those plans may no longer be applicable, or the laws might even have changed.”
Mr. Hokanson urges spouses and family members to discuss “contingency plans” for finances and health care, should there be a serious illness or accident. “This gives spouses a lot of comfort, especially for a spouse that may be less engaged in the day-to-day finances,” he says.
Have the Right Tools for Retirement - WSJ
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-29-2015, 04:21 PM   #2
Thinks s/he gets paid by the post
kaudrey's Avatar
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 1,053
My parents are in the upper 70s, and my mother isn't in the best of health. Although my father is fine, if anything were to happen to him first or he became incapacitated, I'd have to take over my mother's finances. That is all understood, and we talk about money at least once a year.

At Christmas this year, my dad was asking if he should set up an irrevocable trust, to protect assets should my mother need a long nursing home stay. We decided against it, but at one point I looked at him and said "do you have a power of attorney for me, so I can access your accounts if needed?". He started working on that the next day. It was a good reminder that these things should be reviewed on a regular basis.

Thanks for the link.
Two roads diverged in a wood, and I - I took the one less travelled by...
kaudrey is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Retirement calculators evolve into sophisticated tools SumDay FIRE and Money 8 05-20-2013 03:16 PM
Online asset allocation tools bots2019 FIRE and Money 24 06-20-2007 03:42 PM
Pretty good deal if you like tools cute fuzzy bunny Other topics 2 03-01-2006 12:41 PM
Tools for portfolios and... Chris24 FIRE and Money 4 12-28-2005 04:32 PM

» Quick Links

All times are GMT -6. The time now is 06:54 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.