Category : 401k

Widen the gap between your last day of work and your last day on planet earth

Chris and I have successfully helped over 400 families enter retirement. Some of those folks continue to live a wonderful and fulfilling retirement. Unfortunately, some only had a brief time to enjoy their retirement.

You see, once in a while a client will have an unexpected illness fall upon them. Unfortunately it’s happened a number of times, and as recently as a few months ago to a great client. We’ll call him Joe. He retired at age 65. By age 67 he’d passed from lung cancer. Thirty-five years of working towards two years of retirement.

By now you might be asking what this could possibly have to do with blooom and 401k help…fair enough. Here is your answer:

I find myself asking the question, if blooom had been around for Joe 30 years ago, would he have been able to retire at age 55? If so, he would have had 12 years of retirement versus 2 years. What could Joe have done with those extra 3,650 days/87,600 hours/5,256,000 minutes of retirement? Would he have made it to more of the grandkids’ soccer games? Would he and his wife spent more quality time and moments together? How many more lives would he have touched at his church or in his community? Hauntingly and unfortunately, I think he might have accomplished more.

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We’ve been called a lot of things. Now we can add tease to the list.

Which is appropriate – as this is our teaser video for FinovateFall 2014.

If you are planning to attend, the video should whet your appetite – and even if you aren’t attending, it’ll probably make you wish you were. Since it’s sure to be a hectic two days, if you’d like to set up an appointment in advance to visit with us at the conference, please email us at:

Since our blog not only attracts industry experts but also angst-ridden-401k-folk, some of you might be asking, “What in the world is Finovate and what is blooom’s role?”

For starters, blooom competed against an untold number of applicants and was handpicked to get seven minutes on stage to demo our latest innovations to the Finovate audience of 1200 leading financial executives, venture capitalists, press, industry analysts, bloggers, and fintech entrepreneurs.

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The 10% Savings Trick

We hear it quite frequently…”I just can’t afford to put aside 10% of my paycheck towards retirement.” Or sometimes…”We are just barely getting by on the income we have right now.” If you find yourself in this position then I highly encourage you to take a look into Dave Ramsey’s tools and specifically his Core Financial Wellness Program.

But if this article reaches you before you take your first full-time job and before you have car payments, credit card debt, etc. I implore you to implement the 10% Savings Trick. It is incredibly simple in its concept but massively important in its execution. It works like this…The moment you hear what the annual salary offer is (spoken or written) from your first employer – trick your brain into hearing (or seeing) a figure that is 10% less than the actual amount. If you think you hear $60,000 – immediately convert that to $54,000 in your head and base your decision on that adjusted figure of $54,000. Should you decide to accept the offer – in your mind, you will be accepting an offer of $54,000.

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What Investing and Ice Cream Have in Common

I love ice cream.

My wife doesn’t love that I love ice cream, nor does my doctor. But it is my guilty pleasure and I love it.

In fact, if I was to walk into a grocery store and find a half gallon of Breyers’ chocolate ice cream on sale for $2.99 (normally it costs $5.99), I would load up the shopping cart from top to bottom and buy as much of it as I possibly could. Then I’d text my friends, shoot out an email and post a notice on Facebook about the great deal I found. After all, that’s a 50% savings!

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Why People Fail at Flossing and 401ks

Twice a year I look at the dentist and tell her that I floss. She knows I don’t floss. And I know she knows, I don’t floss. But I stare at her anyway and tell her that I, do indeed, floss.

You see, the dentist and I have this mutual understanding. She knows that I know it’s good for me, I know I should do it, and the plain and simple truth is that it will never happen. She doesn’t press the issue or call me out, she just nods.

So this begs the question, if after knowing all the benefits, why don’t I floss?

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