Football season has arrived again and millions of fans are building their fantasy teams, talking strategy and arguing about which teams are in the best position to make it to the Super Bowl.
Football debates can go on for hours, so let’s take a quick time-out to focus on what America’s pastime can teach us about winning “The Retirement Game”.
Just like in football, financial penalties can seem like they are coming out of nowhere (“What are game are you watching, ref??”), but a little bit of careful planning and awareness can keep you from being sidelined by unexpected expenses and life events.
As you explore your retirement options, you’ll likely encounter more than a few investment strategies.
Whether you’re close to retirement age or years away from it, making smart decisions at the onset is critical to reaping the most reward when that time comes.
Yet, with so many choices and so much jargon surrounding the industry, it can be difficult to determine exactly which path is the best one for you. From different types of annuities to IRAs and 401(k)s, there’s no shortage of places to put your money — if you can discern which place is best.
That might be why, according to a new survey, Americans revealed they’re less confident about their retirement earnings today than they were just one year ago.
One way to boost that assurance? Learn as much as you can about the choices you’re presented.
A question we hear quite often is, “What is a fixed index annuity?” It’s a very valid question because fixed index annuities are unique among the various types of annuities and are a little hard to understand. So to answer the question, we’ll throw in a little history, give you the formal definition, elaborate on how to use them to build your retirement savings, and explain how they offer guaranteed income for life. Let’s get started.
Annuities have been around for a long, long time, dating at least back to the Roman Empire. Around A.D. 225, Romans used an “annua” to pay their soldiers. Annua were lifetime stipends paid once per year instead of paying soldiers a lump-sum at the time of their retirement. “Annua” is a Latin word which means “annual payments.”
The fixed index annuity, however, is a much more recent invention. Read More
If you are cringing every time you open your bills every single month, well, you’re definitely not alone. According to a new report from the Federal Reserve Bank of New York, Americans’ debt level has hit a new record high. Total U.S. household debt has hit nearly $13 trillion in the most recent quarter. That is up over $500 billion over the same time last year. Well, that study also found that the average American is about $37,000 in debt. So 1 in 10 Americans are more than $100,000 in debt, and that’s not even including your mortgage. Credit card debt is also at a record high. According to the Federal Reserve, U.S. households collectedly have more than $1 trillion in credit card debt. Read More
Do you have a retirement planning checklist that is up-to-date? Unfortunately, most people don’t, and what’s worse, they don’t even have a retirement plan in the first place. Here is our 7-point retirement planning checklist: Read More
Over the past several years we have seen the stock market go pretty much all over the map…everywhere from 50% downturns to record highs…and everywhere in between. And who knows where it’s going to go next?! Read More