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Non-Tech : Kirk's Market Thoughts
COHR 131.96-0.6%Oct 31 9:30 AM EDT
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To: Fintas who wrote (5803)5/24/2018 6:51:14 AM
From: Jerome6 Recommendations

Recommended By
alwaysbmiki
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Paying good money for dumb advice......an American tradition

I have friends that have gone to financial advisors about retirement planning.

The advisors say something like......"we suggest you postpone taking your S,S. Benefits until later (age 72) so that you can get a bigger payout. (+8% for each delayed year)

This is dumb advice........

1) What guarantee do you have of living beyond the next few days.

2) If you did die at about age 69 will your financial advisor pay your estate the missing funds?

3) The best rule is take every government dollar as soon as possible.
a) if you don't need it invest it
b) put in a fund for your kids or grandkids
c) donate it to a charity of your choice and get a immediate tax credit
d) indulge yourself...time is running out.

4) The government may change the SS rules and it will not be advantageous to those postponing benefits.

5) If you believe that SS is running out of funds.....best to get what you can now.

6) If SS is ever privatized....you are the guaranteed loser

I have other ideas about dumb advice that people pay for, that I will post later his week.

Jerome

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