DECEMBER, 2010

How to Get Enriched in 2011
by Steve Vernon, FSA

For this holiday season newsletter, I thought I'd include some of the most thought-provoking blogs and columns I've read recently.  Let's go beyond the typical money subjects to read thoughts on how you can truly enrich your retirement years. The advice here can provide food for your heart and soul -- and maybe even put more money in your bank account!

11 Ways to Get Enriched in 2011

Having enough money can make you comfortable, and having lots of money can buy you expensive toys and vacations, but these things don't necessarily make you happy. Being truly rich means having great relationships with family and friends, good health, and doing what gives you deep satisfaction in life. 

Read here for some wise advice from my grandfathers about how to become truly enriched.

How to Get Rich?  Stop Trying!

The first step in getting rich is ignoring all the "Get Rich in 2011" schemes. If you can do that, these simple steps will really get you to financial independence.


Learn how to really strike it rich with this excellent article from fellow CBS MoneyWatch blogger Allan Roth.



3 Reasons Your Boss Should WANT You to Keep Working Past 60

Two Wharton professors recently poked some big holes in the conventional wisdom that older workers are a drag on business, and argued that older workers are indeed a great value employers would be smart to hang onto.

 

Fellow CBS MoneyWatch blogger Carla Fried takes a look at what these professors had to say and offers encouraging news for the millions of boomers who will need to work in their retirement years just to make ends meet.


Final Advice From a Dying Investor

Given six months to live, former Wall Street banker Gordon Murray rushed to write The Investment Answer, an advice book that contradicts everything Wall Street stands for.


In this column from CBS MoneyWatch Editor-in-Chief Eric Schurenberg, you'll see a summary of this book which provides solid but elementary advice about investing.

Scrooge's Take on the Stock Market

Learn from the stock market's past, present, and future -- Ebenezer Scrooge will show you the way. After reviewing the effects of his actions, Scrooge learned the errors of his ways. Though our investment errors are part of our instincts and not so easily changed, we can learn, too.

Here's a colorful story and insightful advice from CBS MoneyWatch blogger Allan Roth that will help you become a better investor.

Why You Shouldn't Pay Off Your Mortgage (and Why I Did Anyway)

There are plenty of good financial reasons not to pay down your mortgage in today's market. But there's one great psychological reason -- to get out of debt -- and that's what convinced CBS MoneyWatch Editor-in-Chief Eric Schurenberg to pay off his mortgage this year.


I agree with the thoughts expressed here by Eric. In fact, I followed this advice a few years ago, and it helped me sleep better at night when the markets were melting down. Find out why this might be a good choice for you, too.


How Long Do You Want to Live?

Ninety-two. Does that number sound about right? That was the average answer given by respondents to a recent survey sponsored by Genworth Financial when asked how long they'd like to live.

 

While this is a good life goal, it's certainly easier said than done.  Read my recent post, which discussed the steps you'll need to take to achieve this goal. None of these actions are necessarily easy, but they're well worth the effort if you want to make it to age 92 -- and beyond!

 



Be a Better-Than-Average Investor

By accepting "average" investing returns, the odds are in your favor that you'll actually turn out better than average.


While this statement might seem to contradict itself, it's excellent advice from fellow CBS MoneyWatch blogger Larry Swedroe. Learn more about Swedroe's strategies.



The Greatest Beneficiary of a Passive Investing Strategy? Your Family
How can you be a good parent and investor at the same time? Read here for powerful advice from CBS MoneyWatch blogger Larry Swedroe about the benefits of passive investing as the winning strategy not only in investing, but in life.

Another Look at Family "Burdens"

It's admirable that people don't want to burden their families as they age, so it's well worth your efforts to take the necessary planning steps to avoid this future. But when a family member needs help, pulling together can actually strengthen family ties and bring people closer. In this Thanksgiving post, I offer a few suggestions for turning burdens into blessings.

 

Read this post for my take on why I believe our families are one of our most important "assets" for the security and enjoyment of our retirement years.


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Thanks for your interest, and stay tuned for future newsletters that explore how to best live the rest of your life.
 
Best regards,
 





Steve Vernon
Rest-of-Life Communications

P.S. If you think this newsletter will help a friend, please pass it along.

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Just Released

The Second Edition of

 Recession-Proof Your Retirement Years

Simple Retirement Planning Strategies That Work Through Thick or Thin


I've updated this popular book to include investment results through the end of 2009 and the latest changes to Social Security.  I've also added about 20 pages of content to cover topics that readers have requested.  It's still short--under 100 pages--so it's easy to follow and easy to finish.  And it still provides a step-by-step program to build reliable sources of retirement income that cover your living expenses and strategies to address the threat of high medical and long-term care expenses.  The book is available for bulk purchase by employers and other organizations, or for individual purchase.  Please see my website for details on all of my books and DVDs.

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We fulfill a need for trusted, practical strategies that you can use to plan your rest-of-life (aka retirement).  We rely on the latest research and analyses, and we'll keep it simple!  And that's all we provide; we don't sell insurance, investments or health products, so we can "tell it like it is."

Here's an archive of past issues.

 
Hour Glass & Money

Steve Vernon has spent 35 years as a consulting actuary, helping large employers design and manage their retirement programs.  Now he's president of Rest-of-Life Communications, where he specializes in providing unbiased, trusted information about retirement.  He also consults to Mercer's US Retirement, Risk and Finance business, and writes a regular column for CBS MoneyWatch titled Money for Life.

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For information on keynote addresses, workshops or presentations on retirement issues, visit Steve's website at www.restoflife.com, or email him at steve.vernon@restoflife.com

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