Tuesday, October 3rd, 2017 and is filed under Uncategorized
Retirement is a goal for virtually every American worker. For many, however, retirement savings aren’t on the radar; instead, Social Security is the safety net millions of aging employees plan to utilize to stay afloat in the years to come.
While it’s not recommended to rely solely on Social Security in retirement, this is a reality many Americans face. According to the Social Security Administration, 21% of married couples and 43% of unmarried individuals depend on government benefits for 90% or more of their income in retirement.
Unfortunately, times are changing. 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
Thursday, February 2nd, 2017 and is filed under Financial Planning Tips, Uncategorized
When planning for retirement, there are ages, or birthdays, that matter more than others and can make or break your portfolio. This is because of IRS rules and penalties like contribution limits, early withdrawal penalties, and eligibility ages, just to name a few of the items among the cumbersome and extensive Title 26 of the United States Code, commonly known as the Tax Code.
The retirement planning ages that you really need to be aware of are 50, 59-1/2, 62 + one month, 65, 66 or 67, 70, and 70-1/2. If you incorporate these ages into your retirement plans, it could substantially help increase your nest egg as well as your retirement income in your golden years. 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
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
Tuesday, May 3rd, 2016 and is filed under Uncategorized
There’s no way around it: healthcare is becoming increasingly more expensive in the United States. With the rapidly changing insurance landscape driven by the so-called Affordable Care Act (Obamacare), millions of Americans, and retirees in particular, are spending more and more on healthcare costs, dipping into retirement savings far ahead of schedule just to cover basic medical expenses. Without appropriate savings, it only takes a few unwelcome surprises to drain the money you earmarked to carry you through retirement. Read More
Wednesday, February 10th, 2016 and is filed under Retirement Income Annuities, Uncategorized
In preparing for retirement, especially when the end of your career seems a long way off, it’s easy to put your planning aside for another day. For many individuals, however, retirement often sneaks up faster than anticipated, and starting the planning process too late in the game can have dire consequences. Whether you’re a few years from retirement or just entering the workforce, make sure to avoid these seven retirement planning mistakes. Read More
Tuesday, February 2nd, 2016 and is filed under Uncategorized
Retirement age is a hot topic in the United States, especially as the Baby Boomer generation continues to transition out of the workforce. Although great in its inception, the Social Security program is no longer able to work as it was originally intended; as life expectancies increase, births decrease, and a large generation ages into retirement, the gap between money coming in and money going out continues to grow. 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
Thursday, December 17th, 2015 and is filed under Annuity News, Retirement Income Annuities, Uncategorized
Despite the initial interest in joining the workforce that comes with a new college degree and what seems like endless possibility, it all has to come to an end eventually. As decades of work pass, many people come to look forward to retirement, relishing in the idea of enough free time to travel, volunteer, and take up new hobbies. Historically, retirement has been a single event in which a traditional job is abandoned and a new period begins, but today, many people are easing into retirement slowly, reducing hours and time commitments while adapting into a new lifestyle. This transition, known as phased retirement, is growing in popularity across the world, providing a way to test the waters of retirement. Read More