Event
17
Managing your money for retirement
Invited Speaker: Karl Bergerson on Financial Advice
November 18, 2017 on Saturday at 13:30 - 16:00
Topic / Theme:
Financial Advice
Speaker:
Karl Bergerson
An American who has settled in Sapporo.
Facilitator:
Venue:
Sapporo International Plaza, Kita 1, Nishi 3, Chuo-ku, MN Building 10th Floor
Venue:
Venue:
Language:
English
Price:
Free
Event Description
The presenter outlined the concept of his method of carefully evaluating and managing his assets in order to provide a secure retirement, which will satisfy the family needs until the end of life.
Audience members were encouraged to participate actively asking each other and the presenter questions, and making comments from their own knowledge and experience.
Audience members were encouraged to participate actively asking each other and the presenter questions, and making comments from their own knowledge and experience.
Summary
The objective of his presentation was to have everyone be able to create a basic outline of their personal financial plan based upon the factors he emphasized during the presentation. Scroll down for some recommended publications and copies of handouts he provided.
The objective of his presentation was to have everyone be able to create a basic outline of their personal financial plan based upon the factors he emphasized during the presentation. Scroll down for some recommended publications and copies of handouts he provided.
Update
Member Reports
Presenter's main points: (view more detailed PDF summary file below)
・Create an Excel spreadsheet of all income and expenses to calculate how much cash you have to work with.
・Save and invest as much as you can of your monthly cash available. Avoid unnecessary personal expenses.
・Where to park assets? He prefers working through the U.S. stock market, but other countries are OK.
・Minimize investment expenses by not wasting money on expensive management services. He recommends looking into AAII and Stansberry Research which are low cost options.
・Allocate/diversify your investments by type in accordance with your risk level to protect assets.
・Know your risk tolerance level and invest accordingly. Be ready to get out of a bad investment before it's too late, by setting a loss threshold level for action.
・Many financial advisors are looking to make sales and do not have good analytical backgrounds. Therefore, trust yourself, but there are some good low cost services out there.
・Manage taxes by considering the ramifications of any change in the tax code and adjust to protect profits.
・Plan for the unexpected, as bad things out of your control can happen, which could have an affect on your savings.
・Document all your assets for your legal partner (important legal stuff) - in case something happens to you.
・Save and invest as much as you can of your monthly cash available. Avoid unnecessary personal expenses.
・Where to park assets? He prefers working through the U.S. stock market, but other countries are OK.
・Minimize investment expenses by not wasting money on expensive management services. He recommends looking into AAII and Stansberry Research which are low cost options.
・Allocate/diversify your investments by type in accordance with your risk level to protect assets.
・Know your risk tolerance level and invest accordingly. Be ready to get out of a bad investment before it's too late, by setting a loss threshold level for action.
・Many financial advisors are looking to make sales and do not have good analytical backgrounds. Therefore, trust yourself, but there are some good low cost services out there.
・Manage taxes by considering the ramifications of any change in the tax code and adjust to protect profits.
・Plan for the unexpected, as bad things out of your control can happen, which could have an affect on your savings.
・Document all your assets for your legal partner (important legal stuff) - in case something happens to you.
Ken Hartmann
Useful Related Web Links
RetireJapan - A guide and blog about saving and investment for retirement in Japan.
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Stansberry Research
Stansberry Research Review – Scam or Legit? (An independent review of Stansfield Research Service)
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Documents for Viewing and Downloading
Managing your Money for Retirement - Presentation Report
Thanks go to Kathleen Riggins, who took extensive notes during the presentation and has graciously provided them for those who were unable to be there.
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