September 2018

UK Faculty: Get a Late Start on Retirement Saving?

Submitted by Moneywatch Advisors on September 28th, 2018

It is far from uncommon for faculty to get a late start on their retirement saving. A Master’s program followed by a Doctoral program followed by a long and daunting dissertation process and then, maybe, even a post-doc somewhere. Finally, when you get that first teaching gig then the real work starts, right? The long and challenging process to earn tenure when the hours are long and the pay is not. As a result, when other 35-40 year-olds already have 10-15 years of saving for retirement under their belts, a university professor may only have a handful.

So, fast forward to 50 or 60, ages when we naturally start to think about retirement. Are you on track for retirement? Have you saved enough to sustain your current lifestyle through retirement? If not, what can be done now?

A Thief Stole My Social Security Number

Submitted by Moneywatch Advisors on September 21st, 2018

A woman stole my Social Security number but got bupkes for her trouble because I had frozen my credit. When I received a phone call from a Lexington Police detective a couple weeks ago telling me they were questioning someone who had obtained my Social Security number, along with several others, I told him I had frozen my credit and he immediately said, “You have nothing to worry about.” While it was disturbing to hear that someone could somehow steal my number, I have to say it was also quite satisfying to know I had shut her down faster than a church picnic with no potato salad.

A new federal law that goes into effect today, September 21, makes freezing your credit, thawing your credit and protecting the credit of your underage children easier and less expensive. Here are some steps to take to protect you and your family from identity theft:

7 Steps For When to Take Social Security

Submitted by Moneywatch Advisors on September 14th, 2018

Financial planning would be much simpler if our clients would tell us exactly how long they plan to live. Is that really too much to ask?

When to take Social Security is one of the key retirement planning decisions one must make and can be complicated, stressful and confusing. While each person’s decision will depend on their own, specific circumstances, here are 6 steps to consider when crunching those numbers.

September 2018 Newsletter to Clients

Submitted by Moneywatch Advisors on September 10th, 2018

Enjoy this month’s edition that features some tax planning reminders about Required Minimum Distributions.

UK Vs. Florida as an Investing Lesson

Submitted by Moneywatch Advisors on September 7th, 2018

As a Kentucky fan, think back to the end of last year’s Florida game and allow yourself to remember that feeling for a moment. That feeling of “what if” is what we’re trying to avoid in our investing. As a recap, we beat Florida like a rented mule through three quarters. Then, it happened. Florida scored not once, but twice, in the fourth quarter to erase a big lead. Two plays turned a 27-14 Kentucky lead into a 28-27 Kentucky loss. Not only did we lose the game but perhaps our best opportunity to beat the Gators in the last 31 years.

What does that have to do with investing? Always keep your focus on the wide receiver, I mean, your goals.

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