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More Retirement Income Planning Tips For The New Year

The New Year ushers in a wealth of opportunities for active saving and moneymaking

, requiring a lot of retirement income planning to take advantage of the opportunities that can help you build a bigger nest egg. Other ways that can help you manage your money better include reallocating your retirement portfolio, signing up for a flexible spending account, and think about getting a, rewards credit card.

Portfolio Rebalancing

Overall, 2010 has been kind to bonds and stocks, with numerous commodities and emerging markets off to a good start. At the same time, cash yields are stagnant. These two factors and other market effects may have already changed the way your portfolio is allocated. The above-average performance of some assets may warp how your allocation affects your investment goals, so you will have to rebalance how you invest and put these moneymakers back in step and in tune with your financial plans and tolerance for investment risk.

Rebalancing your portfolio may also get you into the habit of buying at low rates and selling when prices are high. Through this process, you will be moving cash out of well-performing assets and those that have performed comparatively less. If the markets suffer from sharp downturns, your portfolio will not be as affected, as opposed to if you had not reshuffled your investments.


Portfolio rebalancing should happen periodically (experts say at least once every year), and may need to occur more often if market volatility is particularly high, or if there are substantially different rates of return from the different assets in your retirement portfolio.

Signing Up for a Credit Card with Reward Points

If you have eliminated all but a few credit cards to help you eliminate debt, you may be well on your way to entering retirement debt-free. The current state of your finances may also have put you in the clear, allowing you to shell out full payments for any credit card balances. In this case, it may be beneficial to sign up for a credit card that gives you reward-points per purchase. The rewards generate compensation for the cardholder in the forms of rebates or cash-backs, free airline miles, or other methods of everyday purchase. Try to find what rewards will be most useful to you, and then compare credit cards based on how large a percentage of your purchase compensates you in rewards. Somewhat contrary to conventional retirement income planning wisdom, you may want to sign up for a card like this if your finances are relatively stable, and your debt under control.

by: Katherine Smith
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