![Todd D. Heckman]()
Todd D. Heckman |
April 17, 2014 |
Your Retirement
If you start talking with anyone – your financial advisor, someone who reads the financial press, maybe even your dog – about how much you can withdraw from your savings when you retire, you’re likely to get an answer revolving around “The 4% Rule.” This rule is not a real rule, just a “rule of thumb.” It’s based on a string of technical studies addressing the question: how much could you safely withdraw every year, with an allowance for inflation, and (probably) not run out...
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![Todd D. Heckman]()
Todd D. Heckman |
April 4, 2014 |
Retirement Planning
Talk with someone – whether a friend or financial advisor – about whether there’s going to be enough money to retire on, and the conversation is likely to focus entirely on whether you have enough to pay your bills, and maybe to allow for a few extras or to cover emergencies. But there’s a good chance that the issue of “legacy” – what you want to leave behind when you’re gone – will not come up at all. This is a serious oversight. Despite all...
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![Todd D. Heckman]()
Todd D. Heckman |
March 24, 2014 |
Annuity Basics
Although “retirement income planning” has become a piece of common jargon in the financial industry, it’s not actually a great description of what’s really going on, or what you need. When people retire, their earned income typically plummets from something they are accustomed to live on, to something closer to zero. So they do need to replace that income in some fashion. For most people, Social Security does at least part of the job. Many people also have a pension from recent or past employment,...
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