Monday, August 7th, 2017 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities, Uncategorized
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
Friday, June 16th, 2017 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities, Videos
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
Wednesday, March 1st, 2017 and is filed under Annuity News, Retirement Income Annuities
Though saving with a 401(K) is easy and you get a tax break, there is also something to the adage that it is possible to have too much of a good thing. Here are three good reasons to think outside the 401k box: Read More
Monday, January 23rd, 2017 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities
It doesn’t matter how much money you’re making right now if you don’t put any of it away for retirement. Average retirement savings show that most Americans are about to find out the hard way that they have not saved enough for retirement… not by a long shot.
The average median working age couple only has $5,000 saved for retirement. That likely wouldn’t even cover unexpected medical expenses, much less twenty to thirty years of retirement expenses. Read More
Tuesday, January 10th, 2017 and is filed under Financial Planning Tips, Uncategorized
Each new year brings change and 2017 is no different when it comes to keeping up with your retirement savings accounts. Here is what you need to know when it comes to 2017 IRA changes.
IRA Charitable Contributions
After age 70 ½, withdrawals from traditional IRAs are required and income tax may be due on each distribution. However, if you’re age 70 ½ and donate all or part of your distribution ($100,000 max) directly to a qualified charity you won’t owe tax on that transaction. Introduced as a temporary measure in 2006, this ruling was made permanent by an appropriations bill in December 2015. Read More
Monday, July 11th, 2016 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities
Americans today are woefully unprepared for retirement. A 2016 study by the Economic Policy Institute showed that around half of Americans do not have a retirement plan at all and have absolutely nothing saved for retirement. This paycheck to paycheck lifestyle is but one of many challenges to retirement security. In the following, we will examine three of the top challenges to retirement security and offer possible solutions in an effort to draw back, even a few, from the precipice of retirement disaster. Read More
Monday, January 11th, 2016 and is filed under Financial Planning Tips, Uncategorized
Retirement planning, while necessary, can be extremely overwhelming. With so many moving pieces and parts that make up the core of your strategy, staying on track takes a significant amount of time and attention to detail. Missing a retirement plan deadline or cutoff may not seem so significant in the present, but a few skipped contributions or enrollment periods can severely impact the success of your financial position in retirement. In order to make the most of what a new year can mean for your future, these nine retirement plan deadlines in 2016 should be at the top of your to-do list. Read More
Monday, November 2nd, 2015 and is filed under Annuity News, Uncategorized
With the promise of a new year comes many things: resolutions, a chance to start over, and, of course, new tax legislation. The Treasury Department announced its inflation-adjusted limits for retirement account contributions, phase out limits, and available deductions for 2016, providing new guidance for Americans in the important retirement planning phases.
Despite hopes of expanded limits and additional savings possibilities, the IRS is not doing taxpayers any favors. With the cost of living index not rising enough to trigger limit increases, many thresholds will remain the same year over year. Read More
Monday, October 12th, 2015 and is filed under Annuity News, Financial Planning Tips, Retirement Income Annuities
From company profit shares to 401(k) matching, annuity purchases to IRAs for tax benefits, the prompting to think about retirement is virtually ongoing until the day you make the decision to turn off the light in your office for good. With planning and preparation, most men can expect to leave the workforce with enough to retire on, and in most cases, this isn’t far from the truth. Unfortunately, the state of wages in the U.S. leaves almost half of the workforce out in the cold: women. Read More
Wednesday, July 1st, 2015 and is filed under Financial Planning Tips, Uncategorized
Retirement accounts come in many forms and offer numerous benefits, ranging from tax breaks to tax-free growth throughout the formative years of your career. Individual Retirement Accounts, better known as IRAs, can provide extensive advantages after the conclusion of employment. Millions of Americans take advantages of IRAs, but this doesn’t mean that they understand how they work.
Many people believe that once retirement hits, retirement accounts are accessible free and clear. This, unfortunately, isn’t the case. There are many rules that govern access to IRA accounts, with age being one of the most important factors in distribution. Read More