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• The Spender's Portfolio & Portfolio Survival

• Gifting, Feasting and Sharing

  By Scott Burns Spending goes in only one direction. Up. This is a fundamental law of the universe. It is always possible to spend more money. This was true when I got my first job out of college, a whopping $500 a month in 1962. It is still true 46 years... Posted Aug 29 2008, 03:00 PM by admin with | with no comments Filed under: Consumption Smoothing, Resources

• Will You Die Broke? Maybe Not.

  by Scott Burns A new study indicates that most Americans will die broke. You may think that’s just more bad news, but read on. I’ll tell you why things may be better. Ernst & Young LLP, a major accounting firm, recently completed research on financial... Posted Aug 15 2008, 03:00 PM by admin with | with 1 comment(s) Filed under: Consumption Smoothing

• John and Jane Bighouse Downsize

  By Scott Burns Downsizing may be the best retirement decision millions of boomers can make. It’s relatively easy to do. And, as you’ll soon see, the lifetime benefits can be enormous. But first, meet John and Jane Bighouse. They’re about to downsize.... Posted Jun 20 2008, 03:00 PM by admin with | with 8 comment(s) Filed under: Consumption Smoothing, Retirement

• The “N” Factor and Retirement Planning

  By Scott Burns How does the cost of raising a family affect your retirement planning? The answer is good news, in a backhanded kind of way. When we have children we voluntarily reduce our adult standard of living so we can raise the kids. Since our adult... Posted Jun 06 2008, 03:00 PM by admin with | with 7 comment(s) Filed under: Consumption Smoothing

• Does It Pay to Go to College?

  by Scott Burns Does it pay to go to college? That’s a rude question, of course. It’s a question parents don’t want to ask if they’ve just written the big checks. Nor do students want to ask it if they’ve just borrowed the money for their next semester... Posted Sep 21 2007, 03:30 PM by scottb with | with 7 comment(s) Filed under: Consumption Smoothing

• There Is More To Retirement Planning Than Investments

  Q. I am 51 years old. I have some money in my 401K and IRAs (about $300,000) plus another $100,000 in savings. My question is where do I start? What should I be doing now to prepare for retirement? ---J. T., by email from Houston, TX A . Retirement isn... Posted Sep 19 2007, 04:00 PM by scottb with | with no comments Filed under: Consumption Smoothing, Retirement

• The Sublime Beauty of Falling Knives

  Would you dare buy a house in California today? In spite of mind-boggling prices, the short answer is, "Yes--- under certain conditions." This is not the answer I expected to find. Those of us who don't live in one of the "super cities"... Posted Apr 07 2007, 12:00 PM by scottb with | with 12 comment(s) Filed under: Consumption Smoothing

• Where does your money go?

  How does your spending compare with other people? It isn't difficult to find out. Just visit the Bureau of Labor Statistics Web site. Then prowl around the figures from the Consumer Expenditure Survey (see links below). I did that and here is what I learned... Posted Jan 20 2007, 06:00 PM by scottb with | with 16 comment(s) Filed under: Consumption Smoothing, The Spender's Portfolio & Portfolio Survival

• Your retirement may be better than you think

  The conventional wisdom says we need to replace 70 percent to 85 percent of our pre-retirement income to have an adequate retirement income. Virtually everyone "knows" this to be a fact. The authority behind this benchmark is impressive. The Social Security... Posted Aug 27 2006, 10:29 PM by scottb with | with 3 comment(s) Filed under: Consumption Smoothing, Retirement

• How Much Is Too Much?

  Dallas reader D.H. asks a question most advisors are reluctant to answer. "My financial planner is recommending that I move monies from my company managed pension fund to a managed account. The fee for this managed account is 2.5%. This seemed pretty... Posted Aug 22 2006, 08:47 AM by scottb with | with no comments Filed under: Consumption Smoothing

• Are We There Yet? --- Part 2

  Vanguard Chairman and CEO John C. Brennan recently told a conference of business editors and writers that 401(k) plans were a good replacement for defined benefit pension plans and a good retirement security tool. They would, he said, allow typical workers... Posted Jul 25 2006, 04:53 PM by scottb with | with no comments Filed under: Consumption Smoothing

• Are We There Yet?

  John J. Brennan, chairman and CEO of Vanguard, is less trenchant than Vanguard founder Jack Bogle. But he's smart, direct and lucid. He runs an outfit that puts most money management firms to shame. In early May he spoke to the annual conference of SABEW... Posted Jul 23 2006, 04:58 PM by scottb with | with no comments Filed under: Consumption Smoothing

• Why Consumption Smoothing Is Important

  Nearly 11 years ago I sat down with Ken Bingham, a broker friend at Paine Webber. I told Ken that Peter Lynch had written an article for Worth magazine declaring you could be 100 percent invested in common stocks and withdraw 7 percent a year, forever... Posted May 02 2006, 03:30 PM by scottb with | with no comments Filed under: Consumption Smoothing

• Financial Malpractice

  In recent columns we've criticized conventional financial planning. We said it engaged in target practice, promoted consumption disruption, solicited risk, provided quick but erroneous "solutions," and made outrageously bad saving and insurance recommendations... Posted Apr 25 2006, 09:13 AM by scottb with | with 1 comment(s) Filed under: Consumption Smoothing

• Should the Poor Invest More in Stocks?

  "If you can't stand the heat, get out of the kitchen." President Harry Truman's famous line applies to more than politics. Applied to retirement investing, it suggests poor households should avoid investing in stock. The poor, after all, have fewer assets... Posted Apr 23 2006, 09:20 AM by scottb with | with 1 comment(s) Filed under: Consumption Smoothing