401k Investments: Should You Choose or Let a Professional?

401k plans are retirement plans designed to supplement pensions and social security. They are funded through employee payroll deductions. An employer has the ability to match all or a percentage of funds contributed. The money is then invested for long-term success. Most individuals opt for bonds, stocks, or a combination of the two.

If you are just creating your 401k plan or if you are now just realizing the importance of yours, a question may arise. That question is whom do I let handle the decision-making. Unlike Social Security and pensions, you, the employee are in control. Your employer may limit some of your investment opportunities, but you always have choices.

The problem comes from financial experts. For larger corporations, especially where unions are involved, there is usually financial experts and advisors on hand. These individuals can help you make the right investment choices, but some do all the work. The employee, which would be you, still has to sign off on the investments, but many don’t give it any thought. This is common with those in their 20s and 30s. They are not typically concerned about retirement yet, but do agree it is a good idea to start saving.

Relying on a financial expert was once concerned a safe play. After all, they are experts in the field. Right? Yes. Nonetheless, December 11, 2008 is a day that most financial experts will remember with distain. It was the day that the former chairperson of the NASDAQ stock market exchange was arrested for running a huge Ponzi scheme. To this day, the full financial impact has yet to be felt. It is estimated that hundreds of thousands of Americans lost most, if not all of their retirement. Many of these individuals are just like you. They relied on a qualified financial expert, who advised banking on Madoff’s investment firm.

As of now, there is no connection between many of the financial experts and brokerage firms that directed their clients to Bernard Madoff. Many are victims too. It just goes to show that even the best financial experts can be wrong. What does that mean for you? Never trusts their advice alone. Do your own research first.

If you want to invest in stocks, go right ahead. If you want to pick the brain of a financial expert, ask them for stock recommendations. Return home and use the internet. Search the past years of movement on the stock market, search for outlook projections for each company, and so forth. If, at any time, you find a company that appears too risky, follow your best judgment. Opt to invest in a different stock. Better yet, most individuals have the option to choose between stocks and bonds. Ensure your financial security by opting for a mixture of both. If one suffers, you still have the other to fall back on.

As previously stated, some young adults are able to have their 401k plan arranged and managed by a company financial expert or a hired third party expert. If you were one of those individuals years go, look at your records. You should get quarterly or yearly statements in the mail and have a phone number or a website to access this information. It is important to look at the big picture. Don’t just look at the money you have in your retirement account. Look at how much you have gained or lost over the past year.

Most experts do not recommended jumping ship just yet. The stock market has been in a downward spiral all year. It has all but hit rock bottom. Many claim you can’t go anywhere else but up. With that said, get the ticker for each of your stocks. Find the company name and research it online. Is there a rumbling the company is heading for disaster? Consider trading. Just because a stock was profitable 10 years ago when your financial advisor selected it for you, it does not mean it still it.

Regardless of whether you have been contributing to and investing in your 401k for years or if you are just getting started, be prepared. Take the advice of a financial expert, but do your own research too. The internet, the news, and investment magazines can provide you with the insight needed to get the most from your retirement fund.

survivor-benefits-the-second-time-around

What happens with survivor benefits the second time around? - Ask June!

Q: I retired from the Air Force in 1992. I divorced my wife of 21 years and changed my Survivor Benefit Plan beneficiaries to my daughter and my son. I am now residing with my ex-wife and want to change the SBP beneficiary back to her. How do I do this?

-Michael, Kearns, Ut.

A: As you probably know, I’m a big fan of SBP. The good news is that since you protected your ex-wife when you retired you’ll be able to protect her again -- when you get remarried. I don’t know if that’s good or bad news for you, but that’s how it works. Check out the Q&A’s on this topic at the Defense Finance and Accounting Service (DFAS) website. Good luck, sometimes the second time around is even bette

Finding out about benefits for veteran's kids - Ask June!

Finding out about benefits for veteran's kids - Ask June!

Finding out about benefits for veteran's kids
June 8, 2010 • June Walbert
Q: I am the mother of a disabled child of a living veteran. I was wondering if there were any benefits for my 18-year-old daughter based on her father’s service. If you have any helpful information it would be greatly appreciated. Thank you.

-Amy, Ohio


A: The Department of Veterans Affairs is the place to find out about benefits available to veterans, their dependents, and survivors. In fact, there is a booklet entitled Federal Benefits for Veterans Dependents & Survivors. Check out chapters 11 & 12 of this publication to learn more about healthcare, education, and other benefits that may be available to your daughter. The availability of any government benefits is based on her individual situation and reviewed on a case-by-case basis. All my best to you and your daughter.

How Military Families Can Save for Retirement

Welcome to Military Benefit Association

Founded in 1956, Military Benefit Association (MBA) is one of the nation’s largest non-profit associations sponsoring insurance plans and other valuable membership benefits to the military and federal civilian communities. The purpose of the Association is to promote the welfare of its members, advance and safeguard their economic interests and generally to encourage and promote better financial conditions for its members.



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Military Jewelry Is The Perfect Symbol Of Service In The U.s. Armed Forces

By: Tony Gilligan



The appeal  of military jewelry is almost universal among people who serve in the armed  forces.  Wearing military jewelry is,  after all, one of the foremost ways that military peopleshow pride in their  branch of service.



Crossing  lines of rank, gender, age and service branch, almost all military people love  wearing military jewelry of one type or another.  It doesn't matter whether they are officers  orenlisted, men or women, or old veterans or raw recruits.  It doesn't even matter whether they are on  active duty or long-retired veterans.   Almost all of them would love to boast about having a beautiful piece of  military jewelry.



Let your  mind's eye visualize a service man or woman wearing a stunning military ring,  for example.  What could possibly be more  symbolic and make a stronger statement about the person's dedication and  commitment?



Most people  have a friend, relative, loved one or neighbor who is either a current or past member  of the armed forces.  Every one of those  service men and women is justifiably proud of their service and the important  duties they perform.  There's very little  doubt that these military people would love to wear some type of military  jewelry.



Some men and  women prefer to wear a military watch, lapel pin, cuff links or a tie tack,  while others feel that the perfect piece of military jewelry is a ring.  There's enough variety in military jewelry to  assure that everyone is able to wear exactly the right piece for them.



Many people who  serve in the armed forces buy military jewelry for themselves.  They want to wear it, and they want to wear  it now.  They simply aren't willing to  wait for someone else to give them military jewelry.  Other people want military jewelry just as  badly, but hope to receive it as a gift from someone they care for.



Many types  of military jewelry have been specifically designed to give service men and women a way to demonstrate their pride in their  branch of service or specific unit.  All  military jewelry is striking in appearance and makes a strong impression on  those who see it.



Typically,  military jewelry features at least one emblem or symbol that signifies service  in a particular branch of the military.   Some pieces of this stunning jewelry indicate the owner's service in a  specific division, regiment, fleet or elite force or unit, including the Army  Rangers or the Navy SEALs, for example.  It's  also possible for military jewelry to reflect the owner's service in a particular  war or armed conflict, including deployment in Iraq or Afghanistan.



Some of the  most popular types of military jewelry are the beautiful rings that service men  and women wear, but military lapel pins, tie tacks, watches, pendants,  brooches, earrings and cufflinks are also high on the wish list of many  military people.



Military  jewelry is the perfect symbol of service in the U.S. armed forces, and it's  beautiful as well.



About the Author




Tony Gilligan is a freelance author who writes about various military gift topics. For more information about Tony visit his website http://military-gifts-specialists.com/

(ArticlesBase SC #1953248)

Article Source: http://www.articlesbase.com/ - Military Jewelry Is The Perfect Symbol Of Service In The U.s. Armed Forces

Pensions around the world

Posted by Kyle Garrett
As someone who monitors the news on a daily basis, I often come across stories about retirement systems in other countries. Below are just a few of the recent articles that I thought were interesting. What can we learn from retirement income policies in other countries?



Canada is studying ways to improve its retirement income system. Nearly 11 million of Canada’s 17 million workers don’t have a workplace pension plan. Maybe that’s why Canada’s federal Finance Minister Jim Flaherty says Canadians aren’t saving enough for retirement. I guess we’re not the only ones!



Global Pensions reports on the implementation of a package of reforms meant to strengthen the social safety net for the U.K.’s retirees. Among the provisions set to take effect in 2012 is the new National Employment Savings Trust (NEST), a defined contribution plan meant to help workers save for retirement. NEST requires contributions from both employers and employees, with some tax relief from the government. Workers who don’t have a comparable pension plan through their employer will be automatically enrolled.



Interestingly, Germans on average make less money per capita than Americans, yet they save more than three times as much. Who woulda thunk it? Learn more about how Germans differ from Americans in their approach towards retirement savings.



Over in Australia, the Association of Superannuation Funds of Australia, a trade group that represents the majority of the nation’s pension funds, has called for an increase in the required employer contribution to workers’ pension plans from nine to 12 percent.



Since 2002, companies in Japan have been able to cut benefits for retirees, but only six have tried to do so. Recently, however, two large Japanese companies have made moves to cut benefits. It’s a good thing that any cuts must be supported by a two-thirds majority of a company’s retirees.



To learn more about pensions and retirement savings plans around the world, check out the International Pensions section of our web site.
http://www.pensionrights.org/news/perspectives/2010/04/pensions-around-the-world/