Loss aversion is an observation that the pain we experience from a loss is twice as great as the pleasure from an equivalent gain.
Author Archives: Western Reserve Capital Management
Diminishing Returns
Understanding the law of diminishing returns, and applying it to your situation can allow you to develop a strategy that lets you find the sweet spot between the benefits gain and the effort given.
Choosing a Successful Retirement Investment Strategy
A successful retirement investment strategy does not require great genius nor tremendous effort, but it does require you to stick with that strategy in good times and bad.
A Tax-Efficient Way to Manage Required Minimum Distributions
Qualified charitable distributions can be a tax-efficient way to manage required minimum distributions for those who are charitably minded. Because of their tax benefit, QCDs and RMDs should be carefully coordinated to ensure proper timing. It is reasonable to seek out assistance from a trusted advisor to assist you with their execution.
How Are Your Social Security Benefits Taxed?
Once you understand how your Social Security benefits are taxed, you can begin exploring opportunities to potentially reduce the taxes you pay. Depending on your income and mix of assets, you may have the ability to better manage your tax liability in retirement.
4 Steps to Help You Make Better Retirement Decisions
The WRAP process can be useful when making decisions when planning for retirement. While you can still have bad outcomes, the focus is placed on the analysis rather than the results.
Engineering Your Retirement Income
Retirees today have access to more free information and resources than ever before. The issue now is not access but rather the accuracy of the information and mistakes can be costly. Understanding the information and actually implementing the recommendations from that information are two different skills.
How Large Does Your Nest Egg for Retirement Need to Be?
The Rule of 25 is far from perfect, but it can be a good way to get a rough figure on the size of the nest egg you will need for retirement.
Four Undervalued Retirement Strategies
These items may not be appealing but can be beneficial when incorporated into your retirement plan. Even if you decide against using these strategies it would be prudent to explore their potential benefits.
Confidence in the Uncertainty of Retirement
We have no idea what your future in retirement will hold or what the economy will look like but the core principles and saving, investing, and prudent preparedness will remain the same.