Yesterday, at work, I listened into a web broadcast put on by the national HQ of our non-profit. It was about preparing for retirement. It wasn't bad - there were a couple of pieces of knowledge that were novel and useful to me - but there is a lot of the "it depends on your individual situation" and "see a financial planner" ... not to mention, the ever popular "keep an eye on your financial planner."
Weasel words, I think. If you have to know enough about financial planning/personal finance to keep an eye on your financial planner, wouldn't it be cheaper to be your own financial planner?
Anyway, I'm on a jag here. There are a couple of hobby clubs, book clubs, etc - I wonder if there is a place for a personal finance club at work.
Anybody out there start one or participate in one? If you have, how do you structure it, keeping things simple for the newbies and interesting for not-newbies?
personal finance club
September 29th, 2011 at 04:25 am
September 29th, 2011 at 05:28 am 1317270503
Anyone hear the NPR story about the "Rule of 33" today?
You should take your estimated first year of retirement spending and multiply it by 33 to figure out how much money you'll need for the rest of your retirement.
I need to do the math, but I'm think I'm very short (and I never think that!)
September 29th, 2011 at 04:04 pm 1317308675
It's really holding me back from attacking my retirement-savings goals, because I'm not sure the best place to put money. I do have the excuse of getting rid of debt, but I can't meander along without understanding ex-pat retirement too much longer.
September 29th, 2011 at 06:45 pm 1317318314
MEC - I did see that! I read it as the ever changing answer to the question "How much should I take out to make sure that I don't outlive my money?" I've seen 4%, I've seen 5%, in the flush times of 2005 - 2006 I've seen the "above 5% is all right as long as you also have some stock because it'll grow" Hah hah. Apparently, the current number is 3.33% (100/33).
September 29th, 2011 at 08:49 pm 1317325774
Ceejay is a rare exception because she has some really unique issues that even I can't help her with. BUT, as she has noticed, it's hard to really find someone who knows what they are doing and treats you well. Ceejay is less than 1% of the population though. I think most people don't really need any help.
September 30th, 2011 at 02:25 am 1317345907