Category Archives: Money Talks

Money Talks is a regular department in Agency Sales magazine. This column features articles from a variety of financial professionals and is intended to showcase their individual opinions only. The contents of this column should not be construed as investment advice; the opinions expressed herein are not the opinions of MANA, its management, or its directors.

How Many Mutual Funds Are Too Many?

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You’ve probably heard for years that diversification is one of the keys to successful money management. And as many employees of scandalized companies have recently learned, lack of diversification can mean the difference between a comfortable retirement and possibly none at all. (Note, however, that diversification does not ensure a profit or protect against loss in a declining market). But are you one of those investors who collects mutual funds like other people take aspirin? If two are good, then four must be better?

It’s easy to get into the rut of owning an overabundance of funds. You might have … Read the rest

Proposed Roth 401(k): Coming Soon to a Retirement Plan Near You

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We all have seen the statistics that people are living longer. Experts are predicting that Americans who turned 65 in 2000 are expected to live another 18 years, on average. Unfortunately, many are finding themselves financially unprepared for the length of their retirement, and are being forced to return to the workforce well into their golden years.

In an effort to help individuals save more for a retirement that will likely be longer and more costly than ever, a new employer-sponsored retirement vehicle is set to debut in early 2006. It’s called the Roth 401(k) and, as it sounds, combines … Read the rest

New Roth 401(k) — Is It Right for You?

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According to the Social Security Administration and the U.S. Bureau of Labor Statistics, you will need approximately 70 percent of your current income to maintain your same standard of living when you retire. If you make $50,000 per year now, that means you’ll need about $35,000 in yearly retirement income. The Social Security Administration claims the average person receives about $10,000 per year from Social Security. That leaves a big gap between what you’ll need and what you’ll have.

Where’s the money going to come from? Quite simply, it will need to come from you — the retirement savings that … Read the rest

Converting Wealth to Income: The Importance of Creating a Comprehensive Retirement Plan

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Saving for retirement is a priority for many, but no matter how much you’re saving, chances are you haven’t thought about the broad range of factors that could affect your ability to make those savings last through your retirement years.

As the first of the baby boomers officially become eligible for retirement, there is potential for strain on the health care and Social Security systems, as well as the investment landscape. Therefore, it is increasingly important for individuals to not only have a plan in place to continue accumulating wealth, but also one for generating a steady income stream that … Read the rest