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12 Strategies to Generate Income in Retirement

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When it comes to saving for retirement, maybe you've done everything right. You started early, maxed out your 401(k) plan, invested in a diversified portfolio and avoided costly mistakes, such as cashing out your retirement plan. Fantastic. But now comes the hard part: making sure you don't outlive your money.
That's a tall order for today's retirees. Taxes, unpredictable investment returns, rising health care costs and inflation down the road can significantly erode the value of your nest egg. And perhaps the biggest challenge is that you'll probably need the money for a long time. A 65-year-old man has a life expectancy of 19.3 years; it's 21.6 years for a 65-year-old woman. If you're married, there's a 45% chance that one of you will live to age 90 and a nearly 20% chance that you or your spouse will live to 95.
Fortunately, there are steps you can take to generate extra income and extend the life of your portfolio.
1. Put Your Money in Buckets
A bear…

11 ways to protect your money, and sanity, as you age

As an old financial goat, I often get questions about aging from clients, seminar attendees and readers — even by email. I've no wondrous wisdom, but here are my 11 most offered tips that I sense few undertake:
1. Take seriously the need to finance a long life: You’ll likely live lots longer than you expect. Lifespans keep increasing and will continue to. In 1952 expectancy averaged 68.6 years. By 2006 it was 77.8. If you and your spouse are 65, odds favor one of you hitting 90. Maybe older! Invest as if you'll reach that milestone. Doing otherwise invites aged poverty. Little is more brutal.
2. Be clear early about family-support limits: Before it arises, decide with your spouse the limits on what you will and won’t do to support family members. Too much or too little causes bad outcomes. If the topic of support comes up, and you didn’t plan in advance, you will be too emotional and likely over or under give. Planning early saves relationships later.
3. Con…

5 bad financial habits to eliminate before starting a business

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Managing your finances can be really stressful. There’s so much information to know, mastering all of it seems like an impossible task. Moreover, if you’ve developed some bad financial habits over the years, correcting them may seem extremely daunting.
Luckily, it is possible to improve your financial prowess. With a little effort, you will set yourself up for a better financial future, which can be a real benefit when it comes to starting a business. As you overcome your bad financial habits and instill new, good habits, you’ll learn how to manage not only your personal finances but business finances, too.
If you want to become more successful and get closer to starting your own business, you need to give up the five habits below. Some of them you’ll be able to give up today, while others will take a little bit longer to overcome. There might be some hard work involved to rewrite these five behaviors, but once you do, you’ll find that the work was well worth the outcome.
1) Living pa…

How to plan your mutual fund investments. Read here

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Over the years, mutual funds have come across as a popular and fairly profitable instrument of investment. They have proved to be more hassle free and risk averse as compared to direct stock investments.

Here is an insight on how you can plan your mutual fund investment:
Short-term investment
What?
As the name suggests, these investments are made for short periods of time, typically for 12-month duration or even less.
When?
These investments are a boon in emergency situations. Be it a medical emergency or the sudden need of money for down payment of your car, short term mutual funds can bail you out.
What to keep in mind?
Since the investment is for a brief period, it needs to be ensured that your investment is insulated from market volatility. It is important as you would not want to see your investment numbers cut a sorry figure at the time of emergency. So, it is advised to invest in low-risk options -- liquid funds like Commercial Papers (CPs) and T-Bills or debt funds like government…

How to Take Advantage of New Investment Opportunities like Cryptocurrency Funds

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Growing up is scary. Going from not having a care in the world to taking care of everything yourself can be a daunting task. Just paying the bills and buying groceries is enough, but when you start to think about savings and investment portfolios, the adult world can become overwhelming.
There’s your retirement fund—known as a 401K—at your job, of course. However, understanding how your 401K makes money can be a little confusing. Once you start thinking about how to invest your savings without help, personal finances can become a formidable proposition.
According to NerdWallet, over 60 percent of people 18-34 are opting to use savings accounts to set money aside for retirement. If they set enough aside each month, they may still be in good shape come retirement. But if they invest, they could be significantly better prepared.
If you are a risk-averse millennial that fears another stock crash like the mortgage crisis in 2008, technology may have an intriguing solution. The rise of cry…

If You Must Invest in Commodities, Here's How

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There are ways to access the asset class without investing directly in futures.

I recently wrote about how commodities are good for traders, but bad for investors as a useful long-term buy-and-hold financial asset. A broad basket of commodities has given investors lower returns than cash equivalents with higher volatility than stocks.
That higher volatility means there will be cyclical swings where commodities see huge gains as well as huge losses. The question many investors should ask themselves is this: Is there a better way to invest in commodities since the long-term risk-reward profile is so poor?
Commodities are a hedge against much higher inflation, so the past 30 years or so of disinflation haven’t been conducive to strong performance, but there are ways to access commodities in their portfolios without investing directly in futures.
Own an index fund. The simplest way to gain exposure to commodities is to own a broadly diversified index fund. The SPDR S&P 500 ETF current…

How to Speculate In ICOs: 10 Practical Financial Tips

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1. Understand the technological risks.
Even Olaf Carlson-Wee (who was on the July cover of Forbes), the founder and chief executive officer of Polychain Capital, a $200 million crypto hedge fund that began with $4 million last September, says the number one thing he wants everyday investors to know is, “This is unproven technology and if you don’t know what you’re doing, you shouldn’t interact with tokens — from an investor and security perspective. If you’re naively coming in and saying, I’m going to speculate on this, you’re really going to get burned. It’s like playing against the casino; you’re going to lose, even if you win sometimes.”
Crypto assets are not like regular money. They’re also a new technology, and you may not fully understand how to use that technology or, more specifically, secure your tokens. Tales abound of people who mined or otherwise obtained bitcoins back when they were worth almost nothing and stored them on old computers or thumb drives and then accidentall…