A good financial question to get the answer and act on.

How many dollars do I need to accumulate for my Retirement?

There are all kinds of rules of thumb about what level of your current net income you'll need to sustain yourself in retirement, generally ranging from 60% to 80% to even more. But if you're new to retirement savings, don't be paralyzed because you won't reach those goals. Simply do the best you can and keep in mind that you're not starting from zero.

For example, even if your current employer doesn't offer a traditional defined benefit pension plan--one that pays a set amount each month--you may well have earned a monthly stipend from a previous job. This is a good time to paw through your old files and find records of any pensions from ex-employers you may be entitled to.

Give me a call for a FREE evaluation of your very own financial situation. These FREE evaluations get booked pretty soon after these blogs are posted so, don't postpone it.

Give me a call right now,

Jesse Alvarado
(562)822-5565

A never pay taxes plan...don't miss it!

Does TAX FREE savings sound good to you?

 
How would you like to have a savings plan that at age 65 when you retire you don’t pay taxes on the gains. Not one cent!

Call me right now to discuss it and implement it for your retirement,

Jesse Alvarado
(562)822-5565

If this benefit is not there, do not lose time and money with a 401(k)

And what if your employer doesn't match contributions

One of the greatest benefits of a 401(k) comes from employer matches on contributions. If you're lucky, your company will agree to match your contributions up to a certain amount. You should almost always meet the company match. It's basically free money. Whether you contribute beyond the match is a decision you'll want to make taking into consideration your other investing options.

Unfortunately, many employers that offer a 401(k) plan don't match contributions. In that case, there are often better investment strategies. Since the money you contribute to your 401(k) will be taxed later in life and often has limited investment options, you may want to opt for alternative retirement plans.

Give me a call for a FREE evaluation of your financial situation and to share with you better retirement plan alternatives if you find yourself in a situation as explained in the previous paragraph.

Don't postpone it, call me right now,

Jesse Alvarado
(562)822-5565

Retirement Non-sense STAY AWAY FROM IT!

Middle-class Retirement Non-sense 

Middle-class Americans with an average age of 50 years old  say they will need a median of $300,000 to retire. However the same individuals say that, to date, they have saved a median of $25,000.

What is going on here?
Assuming a retirement age of 66 years, they have 16 years to save $275,000. If you assume
that the stock market goes up 5 percent per year--perhaps not the safest assumption one could make--then to hit that savings number, they need to save $11,070.69 per year, or 22.1 percent of the median income. However, 68 percent of middle-class Americans who have a 401(k) plan contribute 10 percent or less of their income to retirement.

The GOOD NEWS is that you do not have to end up stuck in such a situation.

Please call me for a FREE evaluation of YOUR specific financial situation,

Jesse Alvarado
(562)822-5565

The worst debt, the one to avoid!

Avoid credit card debt

Digging yourself out of credit card debt is a lot harder than getting into it. Try to pay all of your credit bills in full and on time. If you cannot pay your whole monthly bill, every dollar you pay above the minimum payment can reduce your interest payments. Women in particular should make a point to be careful with credit. Compared to men, women were five percentage points more likely to carry a credit card balance, four points more likely to pay the minimum payment and six points more likely to be charged a late fee.

If you have credit card debt or no debt, or if you do not know exactly where you stand, please call me for a FREE evaluation not just on your debt, but on YOUR complete financial situation.

Jesse Alvarado
(562)822-5565

Social Security Problems? Really?

Social Security to cover only about 75% of benefit payments through 2085.

A Social Security spokeswoman recently pointed out that interest income from the Treasury bonds held in the trust fund will allow Social Security to keep growing until 2022 — even if the agency has to siphon off some money to offset any shortages in tax revenue -- and won't be exhausted until 2036, when the first Gen Xers begin retiring. But that's already one year earlier than previous projections. After that, the agency says tax income under the current system will only cover about 75% of benefit payments through 2085.

Call me for a free evaluation about your very own financial security when you retire.

Jesse Alvarado
(562)822-5565

Tax Problems?

Are You Overlooking Tax Consequences?

One of the primary benefits of starting an IRA is that, when withdrawn correctly, the earnings are tax-free. If you don't understand the associated penalties for either removing money too early or too late, you can find yourself paying enormous tax penalties, which can severely affect your retirement. Almost all retirement options have very specific rules regarding fees for withdrawing money at the wrong time. If you are spread between taxable and non-taxable accounts, withdraw some from both to avoid a heavy tax hit by moving into a higher bracket. This is another reason why you should plan your financial future with a professional retirement specialist.


Call me for a FREE financial review,

Jesse Alvarado
(562)822-5565