So who's a gal (or guy?) to believe?
All I want is some expert advice in managing my retirement funds in the way best to insure maximum funds that will last as long as I do? Is that too much to ask?
Forbes Magazine has a set of "10 Terrible Pieces of Retirement Advice" online.
Mark, at Go To Retirement, disagrees with many of them, as do I. In fact, I find a couple of them to be insane--check out Number 9. I understand that some retirees may wind up still owing monies when they retire but to deliberately court debt? Totally bonkers in my humble opinion.
I also disagree with Forbes, but agree with Mark that there is never a good reason to withdraw 401(k) funds prior to retirement. Well, Mark has an exception if bankruptcy is on the horizon. I disagree with him since 401 (k) funds survive a bankruptcy intact.
My real point is where do those of us who are less than financially savvy, particularly when it comes to investing, go for accurate and understandable information?
I suppose I started wondering about Forbes when one of their examples was a guy with five million in his retirement accounts. Hmm--that would be about four and a half million more than Grace will ever have.
But can I trust Mark to give me better advice? Or my broker? Or Money magazine? Or my retired banker sister?
I have no idea, but what I can do in the meantime is keep searching, keep reading and keep asking.