Baby Boomers Have Retirement Regrets

If you were born between 1946 and 1964, then you are officially in the baby boomer age group. That being said, during the year 2010, all baby boomers were turning 46 to 64 years old! Are you part of this oh so famous group, if so, Jeanie Ahn of Yahoo Finance wrote in an article today that if you talk to enough baby boomers or new retirees about what they wish they could do differently, chances are many of them would mention a retirement plan do-over of some kind.
And even if you’ve managed to build up a sizable nest egg, executing on the right way to withdraw those funds is just as important as saving. Crucial mistakes along the way can jeopardize the money you’ve worked so hard to save up.

Below are some of the costly mistakes Dorrell says you can avoid:

Regret #1: Relying on your pension

Two summers ago, I think I got about 55 phone calls from clients who expected that they would continue to get a pension from [their company], and all of a sudden they were getting called to a retiree meeting where they were being told: “Here, we’re going to just cash you out,” or, “You can continue with an annuity with this company that we’ve partnered with, but we’re not going to do it anymore.” Others have said, “It’s your responsibility to invest it or put an income stream to yourself from it.”

My advice for people who are left with a bucket of money is to invest it safely. The last thing you want to do is put that money in the stock market and risk it – that may mean back to work you go! And who wants to do that in their 60s?

I would suggest safe bank-insured investments like CDs or money markets. If you can stomach a longer-term investment for a better return, then utilizing a fixed index annuity with an income rider to guarantee an income for life, similar to a pension, is recommended.

Regret #2: Having too many accounts

The most I’ve seen is 16 different retirement accounts at different institutions. It becomes overwhelming. So while they’re trying to have this nest egg, what ends up happening is they have a bunch of scrambled eggs. They have things all over the place and they laugh when we talk about this, but it is a source of concern because they just tend to not open those statements.

Buying Import Car Insurance – Check Out the Details Thoroughly

People have also been confused at the thought of buying car insurance and buying car insurance is not a very it not a very enjoyable thing. The reason being, buying an insurance policy calls for spending money and no individual likes to spend money. Whether we like it or not, it is mandatory to buy import car insurance.People who love cars and who do not mind spending extra in undertaking modifications to their cars really feel for their cars. Such people love to show off their cars and are bigheaded on owning such a prized possession. Thus people who own such modified cars would find it a little difficult to identify modified car insurance. Many of the insurers will not provide coverage for modifications undertaken by you. The car would be insured depending on the market value at that particular point of time, if you want to write off the car. You might have spent a fortune undertaking modifications to your car, to make it sparkle and stand out, but the insurers would turn a deaf ear and would not agree to pay for all the hardships undertaken by you. This would be a total loss if you have gone in for a bought import car insurance policy.The insurers are getting enlightened on the fact that the greater the modifications, the greater the individual would take care of the car and the individual would never apply for a claim. Thus, the company offers an insurance cover.Buying import car insurance policy for individuals opting for classic cars is definitely lower as compared to the latest and modern vehicles. Many insurers offer low premiums if your car is five years old. If you are a proud member of the club, you are also entitled to some discounts offered by these clubs. When buying Import Car insurance policy, check out whether your insurer is aware of the reason behind buying the car. There are many car lovers who buy cars just for fun, still some others love cars and love to show off their cars.When you intend buying import car-insurance policy for race cars, many insurers refrain from providing coverage to such cars. Many conventional insurers feel that there is high danger when it comes to this sport. Hence, it is advised that you do your research well and identify insurance companies which offer such a policy. It is advised that you check out the terms and conditions, the coverage offered the premium etc before settling for the insurance company. The reason why many insurers do not favor this policy is due to the insecurity associated with the sport. Reckless driving and aggression are forewords are pre requisites when it comes to racing and hence the insurers do not want to take this risk.Nevertheless, it is advised that prior to buying import car-insurance, it is better to differentiate and understand the type of car for which you intend buying import car insurance, so that you know what to expect.

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