Kicking off this month, let’s dive into some of the latest happenings. We’ll first look at how market optimism is catching fire post-election, and then move to a more somber tale from the FinTech industry.
On the personal finance front, while many aspects remain evergreen, we’re revisiting elements of stepping away from your professional life to see how timeless advice holds up. Plus, are your financial goals misaligned? We’ll delve into that too.
Retirement calculators, a key tool to gauge your financial trajectory, are on our radar this month. I’m thrilled to share some updates about two of our top picks.
Lastly, in the world of investments, TIPS ladders are making waves. Stay tuned for a resource that delves into whether this strategy might suit you.
Wishing you all a fantastic Thanksgiving and a wonderful month ahead!
The stock market has been on an upward swing since the election, with Bitcoin surging nearly 50% in just one month, possibly poised to cross the $100,000 mark by the time you read this. Ben Carlson’s piece, “The Wall of Worry is Dead,” offers fascinating insights into investor psychology that are definitely worth a read. If you have room for one takeaway, let it be this wise nugget: “Timing the market is notoriously difficult but it’s probably not a bad time to rebalance and ensure you have an asset allocation in place you feel comfortable with during both bull and bear markets.”
On the technology and finance front, Hugh Son brings attention to a fintech company’s bankruptcy saga that led to customers losing their savings. Wesley Grant, writing for Payments Journal, warns that this Synapse fintech failure might necessitate an overhaul of the Banking-as-a-Service model. A notable quote from these discussions was, “Many tech providers ascribe to the ‘move fast and break things’ ethos, where speed and innovation are prioritized over risk management and compliance.” It’s crucial to strike a balance between the plight of those who lost their savings and the lessons we can learn from this debacle. To me, the key takeaway is ensuring your “safe money” remains safe. Earlier this year, I explored options to achieve higher returns on your cash. Exercise caution if using alternative platforms to stow your savings!
Switching gears, John Rekenthaler, a regular in our “Best of” posts, recently announced his retirement from Morningstar with his piece “Farewell, for Now.” After almost four decades, he imparts valuable lessons on stock investing power. Jonathan Clements offers insights in “Before You Quit,” outlining five essential reflections before taking the leap from your career.
Are you chasing the wrong goals in your financial planning? Mike Piper suggests that many goals lack personal significance or practical utility, offering advice on crafting more meaningful objectives. Christine Benz concurs, cautioning against strictly minimizing your retirement withdrawal rate, writing, “We Need to Talk About Your Retirement ‘Spending’.”
In retirement calculator news, assessing your path to financial goals is improved with these tools. We have big updates on our two top calculators. Boldin’s PlannerPlus is running a special offer, slashing prices by 20% this week until 11/30. Meanwhile, Pralana Gold, typically Excel-based, now offers an online version. Look forward to detailed reviews by Dave and myself soon.
Discussing the pros and cons of TIPS ladders, a hot topic, Rob Berger’s new video dives into this investment strategy’s nuances, providing clarity on its suitability for different investors.
Explore valuable resources, such as top-tier retirement calculators that model various financial strategies and partner platforms like Empower, which assist in monitoring your investment portfolio, offering insights into allocation, performance, and more.
Chris Mamula, after disheartening encounters early in his career, self-taught retirement and tax planning strategies and achieved financial independence. Now, he shares his journey and insights at Can I Retire Yet?, and also collaborates with Abundo Wealth, focusing on accessible financial planning.
Please note that some links on this site, including those to Amazon, NewRetirement, Pralana, and Personal Capital, are affiliate links, meaning we earn a commission at no extra cost to you. We endorse products only if we believe they offer genuine value.
