k love fan awards
Former UCF coach Gus Malzahn inks multi-year deal to be FSU OCS&P/TSX composite rises Thursday, U.S. markets downU.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before. The Dow Jones Industrial Average lost 0.6%, while the Nasdaq composite fell 0.2%. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before falling back toward $99,000. It’s climbed dramatically since Election Day on hopes President-elect Donald Trump will be more friendly to crypto. Airline stocks were strong, while Treasury yields held relatively steady in the bond market. On Thursday: The S&P 500 fell 11.38 points, or 0.2%, to 6,075.11. The Dow Jones Industrial Average fell 248.33 points, or 0.6%, to 44,765.71. The Nasdaq composite fell 34.86 points, or 0.2%, to 19,700.26. The Russell 2000 index of smaller companies fell 30.39 points, or 1.3%, to 2,396.17. For the week: The S&P 500 is up 42.73 points, or 0.7%. The Dow is down 144.94 points, or 0.3%. The Nasdaq is up 482.09 points, or 2.5%. The Russell 2000 is down 38.56 points, or 1.6%. For the year: The S&P 500 is up 1,305.28 points, or 27.4%. The Dow is up 7,076.17 points, or 18.8%. The Nasdaq is up 4,688.91 points, or 31.2%. The Russell 2000 is up 369.10 points, or 18.2%.
I'm working pretty darn hard to build up a retirement nest egg. I frequently spend extra hours hammering away at my desk to pad my long-term savings, and I've given up certain luxuries, like a bigger home, to be able to afford consistent retirement plan contributions. Because of this, I really want my nest egg to last as long as I need it to. So rest assured that come retirement, I won't be taking withdrawals at random. Rather, I intend to have a plan. But that plan won't revolve around the famous 4% rule . And you may want to consider an alternative solution if you've been told to follow the 4% rule yourself. Why the 4% rule doesn't work for me Let's start by reviewing what the 4% rule entails. It basically states that if you withdraw 4% of your IRA or 401(k) plan balance your first year of retirement and adjust subsequent withdrawals to match the rate of inflation, your nest egg should last for 30 years. That's a pretty comforting notion. But I also know that the 4% rule doesn't work for me in practice. One problem I have is that the 4% rule assumes your retirement plan is split pretty evenly between stocks and bonds. While that sounds like a reasonable asset mix for someone in retirement, I'm not sure that's exactly how my portfolio will look. The 4% rule also assumes that your expenses will stay the same throughout retirement -- hence the adjustments for inflation and nothing more. But I don't expect that to be the case. I'm actually hoping to spend more money during the earlier stage of retirement, because I assume I'll be in better shape at that point to enjoy different experiences. And also, I assume that at some point, I'll have to replace a car, fix a roof, or cover another costly unplanned expense. I need a withdrawal strategy that builds in that flexibility. You may want to look at different options I'm not saying the 4% rule won't work for everyone. But I don't see it working for me. Rather than commit to virtually the same withdrawal rate throughout retirement, I'd like to come up with a system that builds in more wiggle room. I also think that if there's a year when I don't have unplanned expenses or big plans, I'll withdraw considerably less than 4% of my nest egg to buy myself leeway. I also don't intend to manage my nest egg on my own. I already work with a financial advisor to manage a portion of my portfolio, and I intend to turn to a professional for guidance on stretching the savings I'm working hard to accumulate. You may want to do the same, even if you're a financially savvy person. All told, the 4% rule is an easy solution for managing retirement savings. I'm not going to tell you that you'll go wrong by following it. But what I will tell you is that coming up with your own plan may not only better serve your needs, but allow you to enjoy retirement even more.
Will Howard and Ohio State troll Curt Cignetti for viral 'Google me' comment after big win vs. Indiana | Sporting NewsSome Educated Guesses About Trump’s Second Term
None
Victory Capital Management Inc. Has $4.47 Million Stake in MGM Resorts International (NYSE:MGM)