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MONEY matters

Mark Zaifman's thoughts on money, global economic trends and politics
Women & Money & the Fear of Being a ‘Bag Lady’
Mark Zaifman   |    Fri, May 31, 2019 @ 10:31 AM
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How to Get Used to Hearing the “R” Word
Mark Zaifman   |    Tue, Apr 30, 2019 @ 08:30 AM

Imagine you just left your job/business/practice for the last time after an illustrious career of 42 years. Today was your last official day of working for money and tomorrow, as the saying goes, is the first day of the rest of your life.


A week has gone by since your last day of work. You’ve been super busy, you’re still waking up at 6:30 a.m., still following a tight to-do schedule, so the sense that you’re no longer working hasn’t really sunk in yet.

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More Time or More Money - Which Road Do You Take?
Mark Zaifman   |    Tue, Mar 26, 2019 @ 10:42 AM

 

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The Ultimate Decision Before Retiring - When is Enough, Enough?
Mark Zaifman   |    Thu, Jan 31, 2019 @ 10:44 AM

It’s the million dollar question and also one of the hardest questions to answer before you retire: When is enough, enough?

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You Won’t Run Out of Money in Retirement - Now What?
Mark Zaifman   |    Fri, Nov 16, 2018 @ 10:35 AM

 

 

You’ve made it to the ‘finish line’. You’re financially independent and retirement beckons. You’ve diligently saved for decades, and now retirement is no longer a fantasy -  it’s as real as it gets.

Now, instead of adding to your savings, you enter the phase of your life where you begin withdrawing from your savings. You keep telling yourself you have enough money saved up to live the retirement lifestyle you imagined.

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Plan For Retirement Before, Not After You Retire
Mark Zaifman   |    Thu, Sep 06, 2018 @ 12:28 PM

According to the AARP, 10,000 baby boomers are turning 65 every single day, and this is expected to continue into the 2030s. This means that nearly seven baby boomers are turning 65 every minute.”

If you’re a few years away from retirement, the day will soon come, when after a lifetime of squirreling away money and delaying gratification, the ‘distribution phase’ of your financial life will begin.

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It's Time to Stop Giving Your Power Away Around Money
Mark Zaifman   |    Tue, Jul 03, 2018 @ 10:24 AM

For years I’ve witnessed how we give too much of our power away when we visit our Doctor’s office. Instead of asking why they recommend we do x or y, we blithely follow whatever recommendation is made. After all, they’re the one with MD next to their name, so who are we to question their instructions?

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Why You Need to Know Your Legacy Plans Before you Retire
Mark Zaifman   |    Wed, Jan 31, 2018 @ 11:41 AM

The dictionary would define 'legacy' as:

a gift or a bequest that is handed down, endowed or conveyed from one person to another. It is something descendible one comes into possession of that is transmitted, inherited or received from a predecessor.

A financial planner would define legacy simply as:

"the amount of inheritance you plan to leave to your heirs and or charities/organizations upon your passing.

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5 Money Tips For Your First Year of Retirement
Mark Zaifman   |    Tue, Nov 21, 2017 @ 09:54 AM

As you transition from work to retirement, you should be prepared for the inevitable emotional roller coaster ride you’re about to go on.

Year after year, client upon client all report that their first year of retirement, from an emotional point of view, is the most difficult year of all. What may surprise you is that the emotional challenges occur regardless of your net-worth.

Imagine, that after 40+ years of working and being accustomed to receiving a bi-weekly or monthly paycheck, suddenly, there are no more paychecks coming your way.

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One Reason People Fail at Retirement
Mark Zaifman   |    Fri, Jun 23, 2017 @ 11:30 AM

One of the main reasons people fail at retirement is they give too much money to their children.

Let’s say you’re in your 60’s when you retire or even early 70’s. At this time in your life, your children are adults, yet they’re still hitting up Mom & Dad for cash. What’s up with that? And how can or more likely, will that impact your financial security? Although every parent wants to see their children succeed, giving too much money away can cause a severe drain on a couples retirement resources and jeopardize their own financial security.

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