by Nilus Mattive on June 24, 2010
in General
Forget the sovereign debt crises for a minute, guys. We have now seen two European power houses exit the World Cup in the first round — a whining France and a clearly dispassionate Italy. And hey, even England barely scraped into a knockout game!
I’ve got to tell you, at least when it comes to “the beautiful game,” the U.S. is certainly showing itself to be a heck of a lot more resilient and gutsy than the big guns of Europe. Will the same hold true economically? We’ll just have to wait and see …
by Nilus Mattive on June 8, 2010
in General
On Thursday, June 17 at noon I’m going to show my Dad how we can makeover his retirement portfolio for much better income — using everything from dividend stocks to bonds to some other REALLY cool strategies.
And as a way of saying thanks for all the great comments and feedback you guys have been leaving here on my blog, and in recognition of the fact that you’re facing many of the same challenges as my Dad, I’ve arranged a way for you to listen in on our conversation … absolutely free of charge.
All you have to is click here to secure your spot!
Hope you can make it!
by Nilus Mattive on June 7, 2010
in General
In an attempt to bridge a gap in prescription drug benefits, Washington is sending out $250 checks to 80,000 seniors who pay more than Medicare’s limit for medicine but don’t pay enough to qualify for “catastrophic coverage.”
The full story is here on CNNMoney. And while I certainly agree that every dollar helps those of you on fixed-income budgets, is $250 really going to make all that much difference? Especially with the price of drugs these days!
Would love thoughts from anyone in this situation …
by Nilus Mattive on June 5, 2010
in General
CLICK HERE to join the discussion!
We’ve been talking about how to get more income from retirement nest eggs. And what I’ve heard from you is that, yes, real estate used to be a great way to earn income, but it also comes with:
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Too much risk, as we’ve recently seen with property prices falling around the country.
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Too much work if you want to actually manage the properties you own.
Now, I do think there are ways of getting income from real estate WITHOUT the huge risks and work of owning individual rental properties — including dividend-paying Real Estate Investment Trusts (REITS) … and I will certainly consider those when I construct my own dad’s income portfolio. I will take a special look at cheap, high-yielding REITS that own shopping malls, storage facilities and other real estate niches!
But I couldn’t help noticing that in between the comments about real estate … there were lots of thoughts and questions on stashing retirement funds into gold, silver, and other metals.
For example, a blogger using the handle “CMS” said:
“I have been fully retired for about 3 years. During my working years, I accumulated 4 small strip shopping centers …
“My personal income is adequate as long as I stay at least 50% rented because there is no outstanding debt. My personal investments are short-term Treasury mutual funds, gold and silver and a small trading account.”
So let’s bring gold to the fore today …
Is there a place for bullion in a retirement portfolio? Why? More to the point, how can you squeeze income out of gold-related investments?
Just click this link to visit my blog and let me know what you think. And I’ll jump in with my own thoughts, too!
Best wishes,
Nilus
by Nilus Mattive on June 3, 2010
in General
CLICK HERE to join the discussion!
Based on the responses you sent to my last question, it’s pretty clear none of us think Wall Street has our best interests at heart, especially when it comes to retirement matters. You’ve told me countless stories of inflated ratings … Ponzi schemes … bad timing decisions … and a host of other unforgiveable mistakes or outright rip-offs.
As Dix points out:
“I know financial people do not give same advice to their families. Just look at CNBC and an advisor will spout off what to buy … then they show if they own it and it’s almost always NO.”
Even David, who was a broker himself for five years, says this about his former colleagues:
“The brokers got rich, they got rich when the clients bought, sold, or got out of bed. They called them constantly to convince them to do things, just, of course, for the commissions.”
And get a load of Judy’s story:
“We also lost a lot of money on CD’s after 8 years of good returns in a Ponzi scheme 14 months ago.”
Clearly, you can do better on your own. Heck, you certainly can’t do any WORSE!
So let’s turn to solutions …
A few bloggers have already shared their ideas on how to get better income in this crappy environment … and it seems like real estate is a popular option.
Take Don, who says …
“I have been self employed most of my life so I bought rental property for my retirement. I currently have 5 paid-in-full units they are the best ROI I can find.”
But what do you think …
Is Real Estate a Good Option for Getting
Higher Income in this Crazy Market?
Just click this link and leave a comment to let me know what you think. And I’ll jump in with my own thoughts, too!
Best wishes,
Nilus
by Nilus Mattive on June 2, 2010
in General
CLICK HERE to join the discussion!
Yesterday, I asked you about nightmare retirement scenarios … and boy did you share some hair-raisers!
Harry says:
“Expenses are eating me alive … this is forcing me to sell my house in a difficult market and move to a less expensive area.”
Meanwhile, Ben tells us:
“My Social Security and income from investments is no longer keeping up with the bills … my wife and I are fast running out of money.”
And as many of you pointed out, the threat of continued inflation could make even today’s expenses seem downright reasonable!
Robert put it this way …
“When I was a teenager, I thought if I could ever make $25k per year, life would be sweet … today a family of three starves on $25k.
“There has been a deliberate policy to throw savers under the bus.”
I couldn’t agree more, Robert. Washington has basically told savers to go pound sand, punishing responsible Americans at the expense of bailing out irresponsible borrowers and speculators.
I’m hearing plenty of worry about the stock market’s future direction, too. Warren sums it up with:
“I fear a stock market mega crash within the next two years. I also fear an accompanying spike in interest rates.”
I’ve got to tell you guys — while I don’t want to see anyone lose money, I would be happy to see lower stock prices and a spike in interest rates … sooner rather than later!
After all, it will mean a great opportunity to scoop up rock-solid companies on the cheap, when their dividend yields are sky high. Ditto for select bonds and other investments.
In fact, with every down day in the market, I get more excited to put some of my dad’s own retirement money to work!
Of course, Bob may very well have posted the worst real-life retirement nightmare on my blog so far:
“My wife and I have lost over a quarter of a million dollars in a Ponzi scheme.
“There went most of our retirement funds and it doesn’t seem like the U.S. Attorney Gen. or the SEC is going to do anything. Why do they even exist?”
That leads me to today’s question:
Can You Trust Your Retirement
Security to Wall Streeters?
Do You Think They Give Clients the Same
Advice They Give Their Own Families?
Just click this link to leave a comment and let me know what you think. And I’ll jump in with my own thoughts, too!
Best wishes,
Nilus
by Nilus Mattive on June 1, 2010
in General
Let’s hear what concerns you most …
Is it Social Security going broke?
Healthcare costs or a nursing home robbing your children of their inheritance?
Not having enough income to pay for basic items?
Losing your home?
Simply having to reduce the quality of life you enjoyed during your working years?
A combination of all these things …
Or something else entirely?
by Nilus Mattive on May 29, 2010
in General
Whenever Memorial Day rolls around, I first think of my grandfather – Nilus Lawrence Mattive, Sr.
He lied about his age and enlisted in the military before his 15th birthday, and served as a paratrooper with the 82nd Airborne during World War II.
We know he made his way to the front lines of Europe, dropping into enemy territory with an M1 Garand strapped to his body. We think he spent some time in Africa, participated in D-Day, and stormed Auschwitz. Somewhere along the way he got a couple tattoos, too. But that’s about all we know because he never really talked to any of us about his experiences there, and he died from cancer nearly 20 years ago.
Grandpa was the strong, silent “do as I say” type till the end, and I think that’s why my dad and I have tried so hard to stay open with each other throughout the years.
As I first told you on Tuesday, our biggest discussions have recently revolved around my parents’ retirement plans.
This weekend, my dad is in town visiting from South Carolina. So in addition to the usual stuff we do together, we’re also going to try and talk a little bit more about some of the issues I’ve been raising both professionally and personally.
Because let’s face it, while we may not be facing the kind of physical danger my grandpa did, our battle for a better future is every bit as real.
I’m really looking forward to keeping the conversation going, so please try and talk to your own family over this long holiday weekend.
And by all means, remember the many other tough battles our nation has had throughout the years, and all the folks who gave their time and lives fighting for the freedoms we now enjoy.
by Nilus Mattive on May 25, 2010
in General
I realized that I really didn’t get into my mom’s situation enough in today’s e-mail. So I’ll just briefly share her story a little bit here, too:
She’s also still working at age 63, and she dreads going to the office every single day. Unfortunately, she doesn’t have nearly enough saved to retire on at the moment.
So I’m continually saying things like “Mom, please stop spending so much money on toys and clothes for your granddaughter, and start saving more … please!” and “There’s no way you’re going to be able to eat out four times a week on Social Security payments!”
To make matters more complicated, her and my dad are separated … and he has always been the higher earner. So for better or worse, her retirement security really depends on my dad.
As an only child, I’m clearly in the middle of it all … and that’s okay. I figure if I help my dad, I’m also helping my mom. After all, he’s a very fair guy and will certainly do his best to take care of her, too.
But I’ve got to admit — it only adds one more level of pressure to the entire family retirement picture. And it’s yet another reason that we really need to get his nest egg working more efficiently … right away!
by Nilus Mattive on May 11, 2010
in General
Apparently, the FLOOD of comments this morning backed up that feature on my blog. Every single comment you all made is now up there … positive, negative, and everything in between!
Thanks again for sharing your feedback … I will try to respond to some of the major points as time allows (and certainly in next week’s column, too) …
