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Posts by Michael Andersen

Want to Retire Rich? Do These Three Things in Your Forties

Retiring rich is something we all dream of, but it requires dedication and planning to make this dream a reality. For many Generation X-ers, it’s a dream that could be beyond reach without intervention. A new study from the Transamerica Center for Retirement Studies showed that only 14 percent feel they will have saved up enough to live comfortably in retirement. This stunning statistic illustrates the importance of using your forties to examine your financial preparation for your retirement years.

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Two Heads Are Better Than One

These days it seems like you can hop on YouTube and find a way to DIY pretty much anything, but when it comes to building your retirement nothing can replace the value of face-to-face, personalized advice. Having someone knowledgeable to guide you and hold you accountable, is an invaluable resource for building a stronger retirement.

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Taking an Interest in Interest Rates

In retirement it’s not about how much money you have, it’s about how much income you have, and depending on your retirement plan that income may be tied to interest rates. On this episode of Wise Money, Michael Andersen will guide you through the potential impacts fluctuating interest rates can have on your retirement.

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Financial Planning for The Breadwinner of a Multigenerational Household

multi generational family

Did you know that over 60 million Americans are living in a home with either grandparent, grandchildren, or with two or more adult generations? That’s nearly 20% of America.

Whether it was planned or not, you may at one time be living in a multi-generational household. Kids may need to move back in after college. In fact, over 36% of 18-31year olds are living at home. Forty-seven percent of adults aged 40-50 have a parent 65 or older and are still raising or have adult children with financial needs.  Whether it’s the cost of living increases, childcare needs, health issues, or a job loss, the trend of moving into a multi-generational family home has been on the rise since 1980, hitting a high point during the 2007-9 recession. Whatever the case, living in a multi-family household can be an enriching and positive experience. This article will go over some ways to streamline the process so that it is beneficial to everyone.

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5 Tips for Successful Long-Term Investing in the Stock Market

Did you know only 52% of Americans invest in the stock market? The reasons for this are varied, from fear after the market crash of 2007-2008, the current market unpredictability, to a lack of understanding/fear. Since 1995 though, the S&P 500 has risen 7.8% a year on average. At that rate, someone starting with $1,000 and putting just $100 a month into a fund indexed to the S&P would after 35 years have $227,078 — enough to generate an added $17,000 a year of income in retirement.

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Perfecting the Plan for Your Ideal Retirement

Many people plan their family vacations better than they plan their retirement. This week, retirement specialist Michael Andersen goes over how to make sure you have all of your bases covered when it comes to one of the most important planning opportunities of your life — your retirement.

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