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the POWER of One.(managing your finances)
BUILDING A SOUND FISCAL FOUNDATION WHILE YOU ARE LIVING SINGLE
WHEN CHARLES SHANNON DECIDED 11 years ago to bid farewell to the corporate arena at the age of 35, he departed with a sizable nest egg--roughly $250,000 in pension funds and employee stock options. As a result of the divestiture of Ma Bell in 1984, Shannon had received shares in several telecommunications companies, including Ameritech, AT&T, Southern Bell, and Southwestern Bell. The former facilities engineer had devoted 12 years to the phone company in his native Detroit and had been investing since he entered the workforce in his early 20s. Shannon says he went solo in 1990 because downsizing was coming into play, which to him meant reduced promotional opportunities. "I thought I could apply my skills elsewhere, as opposed to staying put and [hitting the glass] ceiling," he says. That same year, he launched Diverse Enterprises, a business-services distribution company in Detroit.
Fortunately for Shannon, he isn't like most people living the "single life." Many singles play the dating and waiting game. They wait to buy their dream home as they search for the perfect mate; they wait to start an investment plan hoping to earn the ideal salary; or they wait until a tragedy strikes, such as a disabling injury or job layoff, before they plan for the unexpected.
Shannon hired a financial advisor to help him develop a plan, which included rolling over his money into a self-directed IRA and coming up with the appropriate asset allocation mix comprised of real estate, stocks, bonds, and mutual funds. Shannon has since watched…
- Tubbs Jones Says Bush's Social Security Privatization Plan Detrimental to...
- Press release article from: PR Newswire January 14, 2005 700+ words
...market. However, Social Security does much more than...plans to privatize Social Security by establishing private...detrimental to the nest egg that many Americans...retirement. Without Social Security nearly 50 percent of...
- With Social Security, he's perched quite cozily on his nest egg.(The Orlando...
- News wire article from: Knight Ridder/Tribune News Service Hayes, Ed February 23, 2005 700+ words
...s jabbering about Social Security, and one of these...than to watch one's nest egg, or any parcel of...selfishly, is that I like Social Security in its present state...never the aim of the Social Security Act, passed in 1935...
- With Social Security, he's perched quite cozily on his nest egg.
- Newspaper article from: The Orlando Sentinel (Orlando, Fla.) (via Knight-Ridder/Tribune News Service) February 22, 2005 700+ words
...s jabbering about Social Security, and one of these...than to watch one's nest egg, or any parcel of...selfishly, is that I like Social Security in its present state...never the aim of the Social Security Act, passed in 1935...
- Retirement myths. (facts about the social security system's true financial...
- Magazine article from: Good Housekeeping Quinn, Jane Bryant April 1, 1997 700+ words
...the following, honk. 1) Social Security won't be there when I retire...read everywhere that the Social Security program is going broke...government has borrowed from Social Security's trust fund and spent...
- Hands off the SSO nest egg.
- Newspaper article from: The Nation (Thailand) December 25, 2006 700+ words
...sound governance at the Social Security Office The Surayud government...cleaning up to do at the Social Security Office, which was subjected...good stewardship of the Social Security Fund, which has accumulated a nest egg of Bt360 billion and is...
- Hang in there: postponing retirement buys precious time to rebuild your nest...
- Magazine article from: Kiplinger's Personal Finance Magazine Franklin, Mary Beth October 1, 2002 700+ words
...spending your nest egg. Instead...and your social security benefits...bolster their nest egg, boost their social security benefits and...letting their nest egg grow rather...increase their social security benefits...
- Commentary: Planning Ahead - Measure the value of your nest egg.
- Newspaper article from: Daily Record (Baltimore, MD) May 9, 2005 700+ words
...have to factor in social security, and home equity...general rule: your nest egg and supplemental...calculate your Social Security retirement benefit, visit Social Security's Web site at...evaluating your nest egg, consider beginning...
- U. California-Los Angeles: Bush proposal aims to allow for nest egg.
- News wire article from: The America's Intelligence Wire January 30, 2004 700+ words
...they make to the Social Security system into a personal...opportunity to build a nest egg by saving part of their Social Security taxes in a personal...dropping their "nest egg" through stocks. The current Social Security system spreads this...
- Nest egg could dwindle if your hopes for returns fall short.
- Newspaper article from: Sarasota Herald Tribune April 6, 2009 700+ words
...draw dollars from their nest egg to supplement any pensions or Social Security they may receive. As an...1999 with a $1 million nest egg who decides because he expects...341,000 left in the nest egg as of Jan. 31, 2009...
- Boomers Beware: Calculating Your Retirement Nest Egg May No Longer Be Easy.
- Press release article from: PR Newswire March 14, 2007 700+ words
...comfortable retirement if the nest egg provided something in the...on what you expect from Social Security. President Bush promised...protect your irreplaceable nest egg. Set a target retirement date. Social Security benefits jump significantly...
Source: HighBeam Research, the POWER of One.(managing your finances)
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