Paying fees of 1%-3% of your Retirement Nest Egg to your financial planner you will eventually end up paying them more than you pay yourself.
Australia, Commonwealth of (Press Release) May 9, 2008 --
Announcing a new Blog and a down-loadable eBook on "How to Protect Your Nest Egg in Retirement from things other than inflation, taxes and stock market volatility that can "eat" your Nest Egg in Retirement" just released.
I'm a Baby Boomer in retirement and all I wanted to do was to protect my Nest Egg and make it last 25-30 years which is as long as I hope to live in retirement. I didn't want to be worried about managing my Nest Egg even though I have done so for 20 years. So I employed a financial planner to do it for me. But I made a big mistake doing this and 12 months later I pulled out all my money.
I spent six months researching what can happen to a Nest Egg in retirement and soon realized many financial planners really had no idea about managing a Nest Egg for someone who has retired and they were not interested either.
Managing a Nest Egg in Retirement is completely different to doing it when we are working and accumulating our Nest Egg.
It was a revelation to me to find out that paying high percentage-based fees to financial planners can result in me paying them more than I pay myself, in the long term.
I learned Reverse Dollar Cost Averaging to draw a pension does not work, especially if the market is down.
I discovered that avoiding large losses is crucial to long term Nest Egg survival because you are drawing a pension at the same time the Nest Egg is trying to recover.
The flaw of using average returns for long term retirement planning was explained to me too.
When I spoke to my Baby Boomer friends about what I had discovered they encouraged me to write a book about it to help other baby Boomer educate themselves like I have.
I have just completed a 57 page down-loadable eBook on the subject of What Every Baby Boomer Should Know about Protecting Their Nest Egg in Retirement. It is NOT financial investment advice but how to keep the money you have. I include many Web sites where Baby Boomers can get unbiased information and software tools to calculate their retirement needs. Much of the information can be used in your meetings with your financial planner. The eBook can be purchased at http://www.protectyournestegginretirement.com/ebook1.
I have also put up a Blog that is focussed on expanding on each of the topics covered in the eBook. The Blog is at http://www.protectyournestegginretirement.com.
This eBook is not specific to any country. The information is applicable in any country for any Baby Boomer wanting to take control of their Nest Egg and their Financial Planner when they are in retirement.
I'm a Baby Boomer in retirement and all I wanted to do was to protect my Nest Egg and make it last 25-30 years which is as long as I hope to live in retirement. I didn't want to be worried about managing my Nest Egg even though I have done so for 20 years. So I employed a financial planner to do it for me. But I made a big mistake doing this and 12 months later I pulled out all my money.
I spent six months researching what can happen to a Nest Egg in retirement and soon realized many financial planners really had no idea about managing a Nest Egg for someone who has retired and they were not interested either.
Managing a Nest Egg in Retirement is completely different to doing it when we are working and accumulating our Nest Egg.
It was a revelation to me to find out that paying high percentage-based fees to financial planners can result in me paying them more than I pay myself, in the long term.
I learned Reverse Dollar Cost Averaging to draw a pension does not work, especially if the market is down.
I discovered that avoiding large losses is crucial to long term Nest Egg survival because you are drawing a pension at the same time the Nest Egg is trying to recover.
The flaw of using average returns for long term retirement planning was explained to me too.
When I spoke to my Baby Boomer friends about what I had discovered they encouraged me to write a book about it to help other baby Boomer educate themselves like I have.
I have just completed a 57 page down-loadable eBook on the subject of What Every Baby Boomer Should Know about Protecting Their Nest Egg in Retirement. It is NOT financial investment advice but how to keep the money you have. I include many Web sites where Baby Boomers can get unbiased information and software tools to calculate their retirement needs. Much of the information can be used in your meetings with your financial planner. The eBook can be purchased at http://www.protectyournestegginretirement.com/ebook1.
I have also put up a Blog that is focussed on expanding on each of the topics covered in the eBook. The Blog is at http://www.protectyournestegginretirement.com.
This eBook is not specific to any country. The information is applicable in any country for any Baby Boomer wanting to take control of their Nest Egg and their Financial Planner when they are in retirement.
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