I'm trying to help my father plan his retirement finances and I'm looking for good guidelines to help him evaluate his strategy.
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That's a very good question.\n\nThere's a paper published on AAII.com which discusses this issue.  In the paper, the author runs simulations on historical data and how much withdrawal rate would be more likely to sustain the portfolio for the entire retirement.\n\nFor a 50/50 stock/bond portfolio, withdrawing for 30 years, the success rate is 98% if withdraw 6% of the total value at the beginning of retirement.\n\nA very general rule of thumbs is to withdraw 5% or less, 3% to be on the safe side.
676569
Automatic savings.  Open an IRA for retirement and automatically have $200 per month taken out of your pay and put in that account until you max out on the yearly limit.  You could even more than $200 in now, since the year is half over.\n\nPay yourself first.  You can't spend it if you never see it.  Your old self will thank the smart young self that started saving.
148155
Oh I so identify with you! My Dad retired after 30 years also, and then I only had him around before he passed away with a heart attack just a year afterward. So here's what I recommend: "Dad I want to applaud your long years within the Military. Although you won't be wearing a uniform any longer, I'll always think of you as the hero that you are, first to me, setting an example and teaching me responsibility; second to our country, going into harm's way making sure that those values I learned from you were available to everyone; and thirdly to the generations that arise from you for the future. I hope that you will always remember how your work has influenced my life, and given me opportunities. Happy retirement, Dad, I love you."
627509
Choose the scrip based on your own research instead of the advice from stranger answering through Yahoo! answers.  Anyone advising you in this section is not worried about what will happen to those suggested scrips because it is your money and not his money.\n\nGood luck.
16764
first know exactly what the funds go for and tell them when you call/contact them, also give them suggestions of what they may contribute, tell them how successiful it was in past years. Hope this helps
191130
I would give it to my parents to save up for their retirement my dad works in construction and he has no 401k or any kind of plan for retirement when he can no linger work that's it for them they are just gonna live on social security checks which we know is not enough to live on...I know that 50gs is not enough to live on for a long time but its a start better than nothing.
98947
bob's site has alot of free resources but he also has a monthly newsletter for 185 for a year subscription.  That gives specific investment advice.  Also www.bankrate.com has alot of good resources.  Msn yahoo both have good have good money people who write on their page check them out too.\n\nBob Brinker will send you a free copy of his newsletter (i just got it)  He gives his picks on funds and tells when to buy and sell things in it.
653123
First sit down, than think twice! \nNow make a list of every good situated man from who U may dare to ask financial help! Those U expect would help U, put last on your list! \nNow GO! Don't stop! Be U! Be your busines, make them wish to help U!\nGood Luck!
64612
S&P is good however i would go 60-65% stock and 40% bonds and cash investments so as to diversify your account while still making you a good rate of return.  When you get to around 60 you want to move more toward bonds and other save investments.  Remember as long as you diversify you will be fine so put your money into some other funds.  If you dont have a finicail planner available with your 401k plan seek out one to help.  Also www.bobbrinker.com and bankrate.com are good sites to help with investing.
156964
You need to choose a custodian for your IRA, and request the employer to have the lump sum transferred to that custodian.  This will take some planning, filling out forms, etc. Check with HR, and of course with other recent retirees.\n\nIf you plan to retire 2 years or so in the future, just file the info away for future reference.  But a layoff could hit sooner, so it's good to be prepared!
70098
Try this site - it looks like it may be of help. congrats and goodluck with the planning
634847
Yep, I've thought about it.\n\nFirst, form a trust and pick a solid company to administer it.  That prize is paid out over 30 years (usually, or something close) and I don't want to lose over half of it in order to get the cash lump sum, yet I might not live long enough to see it all come in.  The trust then keeps it going for my family after I croak.\n\nSecond, a big chunk is going to taxes first and before I see a dime they will want to withhold at least a third.  Current taxes, state and federal would be really close to 40 percent (a rate that undoubtedly will go up in the future, but hopefully not as much as to cost the loss of the over 50 percent discount of the lump sum payment).  So instead of 30 percent withheld, I would have the full 40 percent withheld.  I would rather have government owe me than owe government.  Also, current rates are something like 35 percent for federal and 4 percent (actually 6, but the federal tax is deductible) state, which is 39 percent, so tack on the 1 percent that the trust company expects and make the numbers easier.\n\nThird, I would want to make some charitable donations, so set aside a quarter for a trust fund or foundation to distribute that.  As a Christian, I like to pay my tithe, an old word for a tenth, so that still leaves some 15 percent for things like schools and scholarships and helping poor families out with their health bills, medicines, and such.\n\nFourth, I would want to make some investments to keep the money working.  With today's uncertainty, I might shop for a bunch of banks to make jumbo certificate of deposit (CDs) accounts and get the better interest rates.  When the bank needs to give the money back, especially if I go to federally-insured small banks, they will probably notice that I have a few bucks and want to let me in on local opportunities like some good housing developer that needs some partnership money (he will incorporate first and give me shares or it ain't gonna happen with me).  When I identify an opportunity that will make me money better than the CDs, cash them in when they mature and invest elsewhere.  I've got a couple of practice stock portfolios, one making 19 percent and the other 6 percent increases, so those strategies might work for some of this.\n\nFinally, with the ten percent that remains, divy it up over the time as income.  With that I pay off my bills, go on to get my doctorate.  My wife can get her master's or more too.  My son will probably want to open an upscale coffee shop which will then be no problem.  I can travel abroad periodically, as well as about this country, because there are lots of beautiful places and fascinating things I haven't had a chance to actually experience yet.  Besides, there might be some fun opportunity to invest in and while I'm holding the checkbook folks tend to be nice who otherwise probably wouldn't give more than the time of day.\n\n50 million over 30 years is 1.6 million a year.  That's 1 million after taxes at the current rate.  That's a little over $400k for contributions and another for investments.  An annual $166k for disposable income is more than enough for what I want to do.  Besides, as contributions are often tax-deductible, I expect to get a chunk of that tax withholding back in tax refunds.  Thanks for the dream.
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Just go to vanguard.com or any of the brokerage firms (Vanguard usually has the lowest fees), sign up for a rollover IRA account, and follow the directions they give you. It usually involves filling out a form and submitting that to whatever company is managing your old 401(k).
52441
If dad is no longer competent, I would suggest you have a guardianship for him.  Appoint son the guardian for dad - that should allow him to conduct dad's financial transactions and make health care decisions.
38485
Read Rich Dad Poor Dad Series by Robert Kiyosaki. A perfect way to guide you through your business
353939
Dave Ramsey, a radio financial guru, offers a list of "Endorsed Local Providers" (ELP's) on his website. You can type in your zip code and get the name of someone in your area. The plus here is that he requires that honesty and integrity be at the forefront of that person's business. Also, the company I work for has done very well by me. I ususally don't promote them on this site, but in this case, I will say that H&R Block financial advisors have been great. (Please know that I get no financial gain from telling you this - I work on the tax side, not with investments) I'll provide you with both links, and please let me know if I can be of further assistance :)
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There is a lot of information missing. It is hard to give advise to anyone without the proper info.\n\nThe best thing you can do is find a Financial Advisor. This can be an Accountant, CPA, or someone who is an Accreditated Financial Advisor.\n\nBe very careful who you pick. Most of the Non-Profit Orgs. that advertise on TV are rip-offs. The take donations and put them on your credit cards. This usually puts you in much more debt than before seeing them.\n\nOne of the most important thing you need is education in handling your own impulses. There are many books, available at the library, that can help. This will require some effort on your part, if you are really serious about changing. \n\nOne very good book that helped me change my way of thinking is called "RICH DAD, POOR DAD".\n\nYour problem is one that requires you to change your own bad habits. Like Alcoholics and Drug Addicts, you won't correct this problem until you are ready and want it bad enough.\n\nIf you are looking for the easy fix it doesn't exist. No one can change your bad habits. They can advise you, but can't change you.