I start out today’s show with an update on S&P 500 performance and junk bond results before chewing out the mortgage industry and other financing professionals for sending documents via email with social security numbers. I then provide several situations that demonstrate why you should throw out old rules of thumb for calculating how much you need to save for retirement.  Also discussed today:

I also respond to an email from Jeff who has three years  of safe money saved up with more than 5 years to retirement and I explain the backdoor Roth IRA contributions to Mary.

Email your money question to [email protected] , or call the show at 1-800-516-1220 from 2:00-3:00 p.m. (PDT)

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.NewFocusFinancial.com.