Determine the Savings You Need for Your Lifetime Financial Goals

You cannot invest without savings. How much savings are enough? … too little? … too much?

Currently, the U.S. is experiencing a savings crisis. The net personal savings rate is zero or slightly negative, despite a healthy and growing economy. This situation is a prescription for millions upon millions of future personal financial disasters. (See: Your personal earnings, expenditures, and savings are the most important determinants of your family’s long-term financial wealth and VeriPlan helps you to understand your lifetime personal savings requirements and whether you current savings rate is sufficient)You do not have to participate in one of these looming personal financial train wrecks. You can choose to limit your current spending and debt. You can pay off debts and save at rates that will greatly enhance your future financial security.

VeriPlan cannot do the saving for you. That, of course, is your job. Nevertheless, VeriPlan can be extremely valuable to you, because can help you to understand how much you need to save. VeriPlan is a fully integrated, automated, and personalized financial projection engine that helps you can test the lifetime effects of different personal savings rates. VeriPlan helps you to pierce the veil of your financial future to see how your current decisions may affect your future financial well-being.

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Personal Financial Planning

• Carnival of Financial Planning – December 27 2007 Edition (Welcome to the December 27, 2007 edition of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security. This edition is arranged by subject heading, so that [...])
• Schwab S&P 500 Index Fund – Select Shares (SWPPX) capture the Best +10 Fund Authority Score ( Fund Authority Scores rate mutual funds and exchange traded funds (ETFs) on the most important economic factors that influence individual investors' net long term diversified investment fund performance. The Skilled Investor developed the Fund Authority Score system to provide individual investors with concise, objective, and realistic summaries of mutual funds and ETFs for comparisons within [...])
• I Want My Treasure Back Please ( PIRATES OF THE CREDIT SEA - Part 3: I want my treasure back!! (Please) What are my rights in the situation that I summarized in my previous article: "PIRATES OF THE CREDIT SEA: My Treasure Is Taken!"? Well, the answer is very simple. I have a contractual right to get my treasure back. I also have [...])
• Benefits of Traditional IRA Contributions for Renters ( Introduction In a series of articles, The Skilled Investor compares different lifetime financial planning projections for Fran and Fred Frugal to illustrate the relative value of adopting different financial planning strategies. Fran and Fred, both age 30, are a married working couple with $100,000 in combined annual earned income. (See the "Fran and Fred's Baseline Lifetime [...])
• September 6 2007 Edition of the Carnival of Financial Planning ( Carnival of Financial Planning - September 6, 2007 Edition Welcome to the September 6, 2007 edition of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security. This [...])
• May 3 2007 Edition of the Carnival of Financial Planning ( Carnival of Financial Planning - May 3, 2007 Edition Welcome to the May 3, 2007 edition of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security. This [...])
• September 20 2007 Edition of the Carnival of Financial Planning ( Carnival of Financial Planning — September 20, 2007 Edition Welcome to the September 20, 2007 edition of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security. This [...])
• Carnival of Financial Planning – December 13 2007 Edition (Welcome to the December 13, 2007 edition of the Carnival of Financial Planning. The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security. This edition is arranged by subject heading, so that [...])
• Excessive Investment Expenses Take 2% of Individual Investor Assets Every Year ( Excessive investment expenses take 2% of individual investor's assets every year Year after year, millions of people lose large amounts of money on unnecessary and unproductive investment costs and investment expenses. The typical investor loses about 2% of portfolio assets every year by paying too much and getting too little in return. This wasted 2% is not a [...])
• Always Completely Diversify Your Investment Portfolio ( Complete portfolio diversification is always a better idea. On average, the securities markets will not pay you to hold any skewed subset of the overall market. Doing so is just a gamble that may or may not pay off. You should not expect to be paid any more for the added risk and anxiety. A previous article, [...])
• 2006 and 2007 Personal Income Tax Rates for the 50 States and DC ( 2006 and 2007 personal income tax rates for the 50 states and D.C. The Skilled Investor has made available for downloading a spreadsheet that contains graduated personal income tax rates and other personal income tax rate information for the 50 states and the District of Columbia. If you want to know about specific U.S. state personal graduated [...])
• Two Examples of the Tax Assets Graphic in VeriPlan ( Two examples of the Tax Assets graphic in VeriPlan TAX ASSETS: Taxable and Tax-Advantaged Financial Assets (real $/yr) Below are two examples of the blue-tabbed TAX ASSETS graphic, which come from VeriPlan's "Sue and Sam Saver" tutorial. This graphic separates their cash, bond, and stock assets by account taxability throughout their lifetime projections. Assets are separated [...])