As the Baby Boomer generation ages, elder financial abuse has become more common. One survey reports that those that are scammed lost an average of $36,000. Scammers often target an elderly person’s fear of losing independence. Falling prey to a scam does not just lead to a loss of money, but also a loss of time trying to fix what has happened along with a lot of added stress.
How is your 401k looking? Does it seem like you don’t know everything you want to know about it, or everything that you would like to know? Even if you think you’re an expert, there are still some things you’re probably missing — like when you should and you shouldn’t use a target date fund, or if you should at all. “401(k) Experts Warn When NOT To Use A Target Date Fund” explains why you should avoid just that.
- Target date funds are portfolios — usually made up of mutual funds — whose mix of securities like stocks, bonds and cash becomes more conservative as the target date (usually retirement) approaches.
- There’s no mistaking the soaring popularity of target date funds. Ninety percent of 401(k) type plans used target date funds as of 2015, the latest year for which Aon has data.
- To avoid saddling yourself with a retirement account balance that is unnecessarily small, Aon says workers should use target date funds exclusively in their 401(k)s. That way you won’t water down the benefits of those funds.
“There’s no mistaking the soaring popularity of target date funds. Ninety percent of 401(k) type plans used target date funds as of 2015, the latest year for which Aon has data. That’s way up from 33% in 2005.”
Are you looking to get social security benefits, or do you need to renew them? Does it seem like just about everything is conspiring against you when it comes to getting what you want and what you need? You don’t need to settle for very few benefits — “How to get a Social Security benefit that’s 88% larger” tells you what to do to get more.
Through every type of market, William J. O’Neil’s national bestseller, How to Make Money in Stocks, has shown over 2 million investors the secrets to building wealth. O’Neil’s powerful CAN SLIM Investing System?a proven 7-step process for minimizing risk and maximizing gains?has influenced generations of investors. He writes, “big money in mutual funds is made by owning them through several business cycles. . . . This means 10, 15, 20, or 25 years or longer.
- Handling individual stocks and handling mutual funds are totally different games.
- Individual stocks may only last for several weeks to several years as a sound investment.
- A well-diversified mutual fund is designed for the long haul, to be held through many market cycles.
“If your primary interest is handling well-diversified mutual funds, read Chapter 18 in the fourth edition of “How to Make Money in Stocks” and when you are done reading it, read it again.”