Category : retire

Mixtape Vol. 1: Master Your Retirement Jam

Awesome Mixtape Vol. 1: How to Master Your Retirement Jam

Ooga-chaka Ooga-Ooga
Ooga-chaka Ooga-Ooga
Ooga-chaka Ooga-Ooga

That freakin’ opening number in the Guardians of the Galaxy Awesome Mix featuring “Hooked on a Feeling!” It set the mood for the entire soundtrack and would most definitely get Baby Groot movin’.

We LOVE music in the office – control of the SONOS is a perpetual war of will! And who doesn’t get hooked on a good mixtape? It’s such the perfect way to communicate a feeling.

It was about a month ago my mixtape nostalgia was rekindled again. I discovered a great card game called MIXTAPE on a favorite podcast of mine, The Chalkboard Podcast.

I immediately ran out and bought it. With question cards like “What song plays as you ride a lion to work in slow motion?” how could I resist?

For me, a child of the 80s and 90s, it’s awesome to see the mixtape culture make a comeback.

But Don’t Call It A Comeback! We Look Forward To Retirement

And that card got me thinking – though I spun the idea of nostalgia … of looking back, into what if we looked forward toward retirement. The day you decide to retire or give your notice of retirement, what song plays in your head (i.e. what’s your theme music for this moment)?

I posed the question to the blooom team. I got enough submissions to create not just ONE, but TWO volumes (our Engineering ninjas get their own – along with my addition).

Without further ado, I proudly present blooom’s Awesome #Mixtape Vol. 1: Master Your Retirement Jam (You can listen to the Spotify playlist for everything but Beyonce and read my commentary about each selection in italics):

Read More
My Retirement Vision

Wanted: Superior Retirement! Rocking Chairs Need Not Apply

Retirement used to be a word that had a very clear definition to me. Basically, it meant you stop working, eat dinner at 4:30 p.m., and spend your golden years sitting in a rocking chair.

When I was a young man this was my vision of retirement. You kick back enjoying the fruits of decades of labor. It seemed perfectly logical at the time. Didn’t everybody wake up at 6 a.m. and work 60-plus hours a week in a job they couldn’t stand for 40 or so years?

Over time my perception of retirement has changed dramatically. But no matter what my vision of retirement looks like, the path to get there is the same…ACHIEVE FINANCIAL INDEPENDENCE.

Now I like to think of myself as a 45-year-old millennial. Yes, I know that sounds odd. But I do respect my younger counterparts’ idea of retirement. Who wouldn’t want a future that involves doing what you love and taking time to see the world?

Also, the idea that happy is the new rich — a life less focused on acquiring stuff and more about real experiences connecting with people — really appeals to me. This mindset helps when it comes to financial independence. You need less money if you have less stuff.

So if this is what the typical millennial believes in, I swipe right. Let’s take a moment and travel through how my retirement vision has changed:

1. My 20s Retirement Vision…

In my youth, I had a lot of young man wishes. I’m going to make millions of dollars, purchase a mega mansion with an eight-car garage for all my high-end sports cars, and travel the world on my yacht Lonely Island style.

Now, those ideas make me think…That is WAY too much house to clean! How much would tires cost for that car? And if I’m really being honest, I get seasick standing on a dock.

At some point, adulting does happen and perceptions can change. And no matter what you envision retirement to look like, a plan is a must (if you’re currently in your 20s and can set your plan now, you’re one of the lucky ones).

Read More
Hawaii Hammock Retirement

How to Treat Your Retirement Planning Like Spring Break

IMG_5937.JPG Every year, the activity most college students look forward to is spring break. It’s the halfway point from Christmas to summer vacation and, let’s be honest, it’s a week of freedom from exams, boring lectures, and responsibility.

Depending on how excited you are about your spring break, planning can start as early as October – finding available houses or condos, coordinating travel and learning about the local hot spots. Hopefully around that same time, the savings start, as well. Each year, college students get to spend a week away from their parents, surrounded by their closest friends on a beach – or some other Instagram-worthy destination. That’s something worth saving up a bit of extra spare change.

Unfortunately, once college has ended and you are off in the real world, spring break becomes a thing of the past. A week-long vacation where you can forget about your responsibilities and sit on a beach sipping an adult beverage is no longer a given each March.

But this year, when the weather began to warm up, I started thinking about those days and how I can relax from work and other daily stresses, and I asked…

WHY CAN’T THAT BE MY RETIREMENT?

Trick is, like spring break, retirement – and the saving for it – requires planning and the need to start saving early.

Now, I can already hear your thoughts: “I have debt I need to pay off,” or, “I’m only in my 20s, why do I need to start planning for retirement?” Trust me, I get it. At 21 years old (almost 22!) and finishing up my Master’s degree, I feel like I have a lot of other ways to spend my money than putting it towards my retirement. But I’ve learned that the longer my money has to grow, the more it can do for me in the future. That’s the power of compounding interest

Read More

Sir Isaac Newton…astronomer, mathematician, physicist…and super crappy investor.

Newton made a huge impact in the 1700’s with his contributions on the Law of Motion, gravitation and inventor of the first reflecting telescope. Stay with us here…he was also a fellow of Trinity College, a member of Parliament, and was knighted by the Queen in 1705.

By all accounts, the man was a freaking genius.

But, Boy Oh Boy, Did He Suck at Investing.

Think about that? How is it even possible that a person this smart could be bad at investing? Simple. And here is the story:

Enter the South Sea Company. This was a company that was established in the early 18th Century. In exchange for assuming England’s war debt, the company was granted a monopoly on trade in the South Seas.

Bingo. Investors loved this. They smelled a huge money making opportunity.

Sir Isaac Newton was no different than any other investor. He too had been charmed into purchasing shares of the South Sea Company and by 1720 after seeing the stock rise rapidly without reason at a fever pitch he rationalized, “I can calculate the movement of stars, but not the madness of men.” So, he cashed out. And profited big time from his investment.

Then he watched as the stock continued to soar THREE times higher than when he sold his shares. We can only imagine the regret he was feeling. As evidence, he went on to repurchase South Sea Company. Only this time he was buying it THREE times higher than when he last sold it.

Briefly, the stock continued to rise. We’re sure Newton was feeling wonderful about his decision. And then things started to go awry. The stock peaked weeks later and then cratered. Newton ended up losing £20,000 (nearly his life savings) which in today’s dollars equates to roughly $3,000,000.

Let That Sink In. Astronomer. Mathematician. Physicist. And….Broke.

Newton, a genius by all accounts, couldn’t pull off investing without letting his emotions get the best of him. Where does this leave you?

Simple. You need to find a professional that can help you navigate the emotional ups and downs of investing. We don’t care where you get help, just get help! Many traditional advisors have $1,000,000 account minimums before they’ll talk to you. Luckily for our clients, we don’t have a minimum and we focus on the ever confusing 401k that you might have set on “auto-pilot”.

Look, this isn’t about your IQ score. 1000s of folks using blooom are super smart people – doctors, teachers, fireman…shoot, we even have financial advisors using blooom for their own accounts! Yes, they are all smart. BUT they’ve come to the realization that it’s best to have someone hold your hand through the inevitable ups and downs you will see as an investor.

Don’t let your investing experience become a history lesson for someone else.

Read More

Politics and your retirement…

We at blooom wanted to write to you with some thoughts on the news you have likely seen that the Trump administration will be seeking to unwind many of the regulations put in place after the financial crisis (Dodd-Frank), as well as a more recent rule designed to protect retirement savers in this country from brokers trying to sell them high fee products, instead of always acting in their best interest (DOL Fiduciary Rule). Political administrations will come and go, lobbyists and elected officials might try to change the rules to serve special interests, but you can rest assured that we here at blooom have always — and will always — only follow one rule: acting in your best interest. In fact, blooom is already a fiduciary and has always upheld itself to the highest regulatory standard in the land. So, on our side, and for our clients – absolutely nothing will change, whether or not the rules get unwound in Washington.

We built blooom to insulate you from the predatory practices rife in the retirement space, by steering you TOWARDS low cost investments, steering you AWAY from alluring sounding investments hopelessly trying to “beat the market”, and by helping you decipher and distill the often hundreds of choices in your retirement account down to an appropriate and well diversified portfolio for your age. Straight forward, boring, non-flashy stuff that the majority of Americans get wrong.

Blooom was built to protect our clients from shenanigans that might happen in Washington or in the financial industry. The latest shenanigan will allow brokers to “sell” Americans retirement products, instead of give them the best possible advice. With blooom on your side, you don’t have to worry about this. We can only hope that fiduciary, simple, low-cost solutions like blooom can reach tens of millions of Americans. That’s the magic of technology. In these uncertain times, make sure you’re covered.

Read More
1 2 3 4