Many retired workers of past generations received pension checks that lasted their entire lives. Your parents or grandparents may have worked for one employer for the majority of their lives, and upon retirement began receiving monthly pension checks in perpetuity. It was commonly used as a main source of income in retirement, along with Social …
Annuities Offer Lifetime Income Similar to Pensions Read More »
Many people rely on Social Security as a big part of their retirement income. When you are no longer receiving paychecks from work, it is essential that you maximize your benefits. These are some tips and considerations to help you get the most out of your benefits! Work Longer Your Social Security payments are based …
Strategies To Help Increase Your Social Security Benefits Read More »
If you are young and single with no dependents, you probably may not need to think about life insurance right now. One exception would be if you don’t have enough saved to pay for your funeral expenses and you want to prevent your family from having to bear that burden. However, as your life changes, …
Inflation refers to the general rising of prices of goods and services. As inflation continues, the purchasing power of the dollar decreases. Fortunately for many people in the workforce, salaries tend to increase consistent with inflation. However, for those who are no longer working and relying on their savings to provide fixed income, inflation can …
Many retirees have multiple streams of income from different accounts. How and when you decide to start taking withdrawals from these accounts impacts what you pay in taxes. The rules can be a bit complicated and it’s not uncommon for retirees to incur penalty fees for making mistakes. These are some strategies for avoiding penalties …
5 Tips to Reduce the Tax-Impact of Retirement Account Withdrawals Read More »
If you are planning for retirement, you may have heard of the “4% rule”. This guideline, which was created in the 1990s by a respected financial advisor by the name of William Bengen, states that retirees can withdraw 4% of their total savings each year, adjusted for inflation, and not run out of money in …
What Is The 4% Rule For Retirement Withdrawal Strategy? Read More »
Many people are concerned about not getting a regular paycheck anymore once they retire. They are also concerned that a market downturn could wipe out a significant portion of their nest egg. Some insurance companies offer contracts called annuities, which allow a consumer to create a consistent stream of income in retirement. Some types of …
Some Pros and Cons of Fixed Indexed Annuities (FIAs) Read More »
Life insurance is an essential consideration for anyone whose income supports someone else. There are a variety of types of life insurance policies, and the distinctions can be a bit confusing. Fixed indexed universal life insurance (FIUL) is a popular type of permanent life insurance that includes a savings element. This policy has the potential …
Retirement is supposed to be a time to enjoy your family and pursue the passions that you couldn’t in your working years. Unfortunately, many retirees struggle financially because they either failed to plan ahead or aren’t using efficient strategies to minimize taxes and maximize benefits. Retirement planning can be incredibly complex and involves a variety …
5 Common Retirement Mistakes That You Should Avoid Read More »
We insure many of the most important things in our lives; our cars, our homes, our health care, and more. Insuring your life (and the income that you provide to your family) only makes sense. However, this is a type of insurance that some people don’t like to think about. Regardless of your age and …
What Type of Life Insurance Policy Is Right For You? Read More »
