tangomonster
Full time employment: Posting here.
- Joined
- Mar 20, 2006
- Messages
- 757
Jane Bryant Quinn is going to be doing a live open discussion on ER on Newsweek.com tomorrow (Wednesday) at 2:30 p.m. ET. Thought some here may be interested. She typically gives good, if somewhat simplistic and generic, advice. She had a column in the Newsweek that came out today. She did say (and know many here would disagree, including myself) to "run, not walk, to a financial planner" to figure out the viability of ER and make it work. She did say to look for fee-only planners andnnot those who work on a commission and hawk expensive products.
She did say that it is too late to start saving at 50.
She said that "a common mistake is to look at retirement in a five-year time frame without planning any further" (I find this hard to believe---most people intend to live longer than five years after they retire, especially if they retire at what she says is the average age: 57). According to her, costs go up as people get older: "it's in your later years that the effects of inflation, rising medical costs or poor investment decisions kick in."
She did say that it is too late to start saving at 50.
She said that "a common mistake is to look at retirement in a five-year time frame without planning any further" (I find this hard to believe---most people intend to live longer than five years after they retire, especially if they retire at what she says is the average age: 57). According to her, costs go up as people get older: "it's in your later years that the effects of inflation, rising medical costs or poor investment decisions kick in."