Author Description

About the Author Frank Moynihan is a graduate of Boston College with a B.A. in Economics. After serving as a First Lieutenant with the United States Army Rangers, Mr. Moynihan joined The Dow Chemical Co., where he rose to the position of National Accounts Manager for the Health & Consumer Products Division. Mr. Moynihan then moved to the financial services industry where he was a consultant to Fortune 1000 companies for 401(K) plans and a Regional Vice President for Barnett Bank. In 1997, Mr. Moynihan was elected to Kemper's Advisory Council. Mr. Moynihan is a Certified Senior Advisor as well as a Registered Investment Advisor. Mr. Moynihan has lectured widely on financial topics at IBM, Siemens Co. and Boston College. His articles on Estate Planning and retirement investing have been published locally. Product Description A no-nonsense Retirement Investing Guide that reveals how to protect your assets, preserve your purchasing power, make your money last, have adequate income and pass on the most to your heirs. This book written with no hassle readership in mind. Excerpt. © Reprinted by permission. All rights reserved. Investments and How They Work Money Market Instruments--the preference for liquidity Since this book is written for matures, let's first talk about liquidity, something that matures seem to prefer in their investments (although you will soon learn, has a very great price). Let's discuss these liquid instruments that we call Money Market Instruments. These are investments that pay a very low return but are highly liquid: savings accounts checking accounts treasury bills money market accounts Most matures are lulled into the FALSE SAFETY of these investments. Let me show you why. First, let's take a look at bank accounts. Bank investments typically pay, let's say, 4%. After we take away taxes and inflation, we have a negative return. Interest on savings account 4.0% Federal taxes-1.1% State taxes-0.3% Consumer inflation-3.0% Ne