Financial Planning Update:

"Why You Stick Around in a Tough Market"  David Booth, Dimensional Fund Advisors

           Click here to watch the video

"Is It Different This Time?"  Westin Wellington, Dimensional Fund Advisors

            Click here to watch the presentation

   Taking Steps to Safer Investment Decisions in 2009

It’s tough to tell how much one investor can do alone to preserve their assets in 2009, particularly with unprecedented government intervention in world markets.  But there are some general ideas to employ as markets and economies hopefully stabilize in the New Year: 

Start with a plan – or review an old one: If you’ve worked with a good financial planner, you should be able to articulate your long-term investment goals by yourself.  If you can’t discuss such goals in detail, it might be time to meet with a financial advisor including a CERTIFIED FINANCIAL PLANNER™ professional.  Much of the riskiest investing, overbuying and panic selling during the late 1990s and early 2000s could have been avoided if individual investors had sought advice for achieving long-term specific goals such as retirement or a college education.  more

   Getting the Kids Involved in Saving for College

The World War II generation got a taste of higher education through the G.I. Bill and made it a point to supplement or pay their kids’ tuition.  It was a struggle, but a far more manageable one than it is in this day and age.  Figures from the University of Texas in 2005 showed that since the 1960s, the price of a public higher education has risen from about five percent of median family income to more than 17 percent today.

Based on the current pace, that number could rise to 30 percent of median family income by 2020.  Private universities could approach 50 percent.

Scary numbers indeed.  That’s why it makes sense for families to make college affordability a family effort - with both parents and kids pitching in.  That’s a big change in 40 years, where parents considered it a badge of honor to put their kids through school with no debt. 

But there’s a bright side to involving your child in the process of saving for college.  They’ll get an early education in money decisions that will have a direct impact on their future.  Here are ways to make sure you’re well informed about the college savings process and how to involve your child:  more

    Taking Responsibility For Retirement

First, it was the combined whammy of the tech wreck and the post-9/11 recession that battered our 401(k) accounts.  Next was inflation in health care and education costs that further diverted indebted consumers from concentrating on retirement.  Now come the headlines that any company facing tough times – or intense shareholder pressure – can pull the rug out from under its retirees hoping for the traditional three-legged stool of retirement – pension, Social Security and savings.

All three legs are in trouble – we aren’t saving enough, Social Security is under attack and traditional pensions are disappearing – fast.   For retirees facing a sudden loss of pensions and benefits, there are really very few options save going back to work or turning home equity into a personal bank.  So the time to start taking on the lion’s share of your retirement responsibility is now, whether you’re five, 10, or 20 years away from hanging it up, if that’s your plan.   more

More Financial Planning Articles. . .

Making Your Employer a Partner in Your Financial Planning

Losing Your Inheritance to Uncle Sam - Or Others

Consider a 529 Plan When Saving for College

Navigating The Federal and State Tax Maze

Go Easy On Home Equity Loans

How to Make Your 401k Work Like a Pension Plan

Should You Consider Investing In Commodities?

What is the Real Reason You Should Invest?

Should You Stay in Your Old 401k?

Steven P. Copeland, CFP^®   

53 Rossmore Avenue

Bronxville, NY  10708

(914) 771-5277

steve@safe-harborplanning.com

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