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As a Fee-Only advisor my fiduciary duty is to you alone.
Professional, practical, achievable solutions for your peace of mind

Expert advice for all walks of life

As a Fee-Only advisor my fiduciary duty is to you alone.
Professional, practical, achievable solutions for your peace of mind

Expert advice for all walks of life

As a Fee-Only advisor my fiduciary duty is to you alone.
Professional, practical, achievable solutions for your peace of mind

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Retirement

It's a numbers game: how demographics will fuel growth

Submitted by Concierge Financial Planning, LLC on October 25th, 2016

 

Why has the American economy grown so slowly since the Great Recession?  This year, GDP growth will fall somewhere in the 1.5% to 1.8% range, below the 3% growth rate that is considered a sign of robust economic health.  Critics have blamed everything from China’s slowdown to globally outsourced manufacturing to fiscal fights in Washington.  But new research from economists at the Federal Reserve Board points to a different—and much simpler—explanation.

Tags:
  • Current Events
  • Retirement
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Retirement Mexican Style: A Unique Twist on Familial Care-giving

Submitted by Concierge Financial Planning, LLC on October 4th, 2016

 

“They don’t think too much about money because nobody ever has any,” said my son, Peter, when I asked him about Mexicans’ attitudes toward wealth. I am interested in how other cultures think about income and retirement and Peter was becoming a good source of information. He was home on vacation from Oaxaca (Wa-hock-a), Mexico where he teaches English at a university in the Sierra Juárez mountains. “Mexicans work until they fall in the grave.” “But, what about when they are too old and frail to work,” I continued,” What happens then?”

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  • Retirement
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Stocks to the Rescue?

Submitted by Concierge Financial Planning, LLC on September 16th, 2016

 

No doubt you know the statistics: the Social Security program’s reserves are due to run out in 2034.  At that point, the only money available to be paid out will be money collected that month from those current workers who are paying into the system.  Current estimates say that this will amount to about 75% of scheduled benefits.

There are, of course, a number of solutions.  Congress could gradually raise the ages at which future retirees could qualify for Social Security benefits.  They could (yet again) increase the ceiling on income on which Social Security payments are collected.  Or they could raise the various Social Security and Medicare tax rates on the income below that ceiling.

Tags:
  • Investing
  • Retirement
  • Social Security and Medicare
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Just Say No; Why Not to Listen to Eager Lenders

Submitted by Concierge Financial Planning, LLC on August 30th, 2016

sea mist.jpg

I just read Michael Kitces’ blog post Why It’s a Bad Idea to Borrow Based on What the Lender Will Allow, and you should too. I am chuckling to myself because I am a perfect example of why this so.

It’s summer and I am currently looking forward to a week in Cape May. We love it there, especially my thirteen-year-old daughter who can just hop on her bike and enjoy all the freedom to roam about town just as I did as a kid back in Buffalo. My husband and I have recently been exploring the possibility of buying a small beach condo there. You know how wonderful that beach house fantasy can be: relaxing weekends with a glass of wine on the porch, the kids and future grandkids coming to visit, and of course long walks along the beach. We really thought we could do it.

Tags:
  • Debt
  • Retirement
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Investing for Retirement: What Would Warren Buffett Do?

Submitted by Concierge Financial Planning, LLC on August 3rd, 2016

 

Caught in an extraordinary convergence of unhinged stock market volatility and historically low interest rates on savings, many people are rethinking their plans and their vision for the future, especially as they consider the prospect of having to stretch their retirement income over 25 or 30 years.  A study conducted in 2015 by the Employee Benefit Research Institute found workers of all ages are continuing to lose confidence in their ability to afford a comfortable retirement.  But instead of adjusting their investment strategies to confront the challenge, many are simply retreating into a “winning by not losing” mentality and avoiding the stock market altogether. That can be the biggest mistake anyone can make in their retirement planning.

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  • Investing
  • Retirement
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Are You Part of the 10%?

Submitted by Concierge Financial Planning, LLC on July 7th, 2016

As my daughter and I rode our bikes down the path to Giverny, France I felt like I was in the scene from the Sound of Music where Maria and the kids are biking. Last week I stole away with my youngest for a quick trip to Paris. On our last day we set out to see the home and gardens of Claude Monet. The sun was shining and we had just enjoyed the most divine picnic lunch. It was market day in town, and before we set off on our ride we stopped to pick up fresh bread, cheese, fruit, and a bottle of Sancerre. I kid you not, it was the best meal of my life. I can still taste that crisp white wine on my tongue.

Tags:
  • Budgeting
  • Retirement
  • Saving
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Student Loan Defaults Can Wreak Havoc on Retirees

Submitted by Concierge Financial Planning, LLC on June 9th, 2016

 

No one could have foreseen the convergence of two of the most consequential economic events in our history – the mass migration of the Baby Boom generation into their final life stage and the tectonic shift of a declining global economy.  Unhinged stock market volatility, rising health care costs and historically low interest rates on savings have caused millions of pre-retirees to rethink their plans and their vision, especially as they consider the prospect of having to stretch their retirement income over 25 or 30 years.  As if that weren’t enough, now tens of thousands of retirees are finding that their only real safety net is threatened as a result of their decision to default on their student loans.

Tags:
  • Debt
  • Retirement
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What‘s your Retirement Burn Rate?

Submitted by Concierge Financial Planning, LLC on May 31st, 2016

 

“I really don’t know, Ann,” replied Steve after I asked him for his approximate monthly or annual expenses. Like many other clients, Steve and Jenn were wondering if they could afford to retire. They were mentally ready, but wanted to be sure they wouldn’t outlive their money while maintaining their quality of life. Steve had left the expense section of my questionnaire empty, which is surprisingly common. I can’t tell you how many people come to me asking if they can retire without knowing how much they spend, i.e., burn rate.
 

Tags:
  • Budgeting
  • Retirement
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Millennials Retire at 75?

Submitted by Concierge Financial Planning, LLC on January 28th, 2016

 

Chances are you’ve wondered about the prospects of younger Americans. Will they enjoy the same economic conditions that their parents lived through? Will retirement still be an option for them?

The NerdWallet organization recently issued a report which found a few differences between today’s college graduates and those of 20 to 40 years ago. For one thing, they carry a lot more student loan debt: $35,051 on average. That means, again on average, that the new graduates will be paying $4,239 a year for ten years before they can properly start saving. NerdWallet estimates that these higher loan payments could potentially reduce future retirement savings by 32%—an average of $700,000.

Tags:
  • Debt
  • Retirement
  • Saving
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The Cleanest Estate Ever

Submitted by Concierge Financial Planning, LLC on December 10th, 2015

“How can I make my estate easy for my son?” asked Diane, a youthful retired client with a penchant for planning ahead. I often get this question in some form or another and usually provide advice on the industry best practices based on my history and research. This time was different, however, as I had even more first-hand experience.

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  • Retirement
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