After spending decades working day in and day out 30% of retirees consider Social Security to be their primary source of income. If you want to avoid that fate it’s important to begin planning as soon as possible. Believe it or not, planning for retirement on your first day of work is not too early to start. The [...]
A recent Gallup poll determined that, 42% of low-income respondents will rely on Social Security and part-time work to help them through their “golden years”. Surviving on Social Security alone is difficult if not impossible but unfortunately many are relying on it. Overall, those nearing retirement age today, i.e. 50- to 59-year-old nonretirees still see Social [...]
Why You Need An Annuity 1) Annuities Provide Tax Savings An annuity has numerous advantages. The first advantage is tax deferral on interest and capital gains which allows the principal to compound tax free and can save you a lot of money. There is no IRS reporting requirement until you actually make a withdrawal from [...]
Choosing the right retirement plan is perhaps the most important decision you can make to ensure a secure retirement. However, it is evident that many people fail to adequately plan for their life after retirement. The old saying, “if you fail to plan, you plan to fail” definately applies in this situation. One method of providing for [...]
Saving For Retirement Some people may feel a little guilty for having done well and prepared for their retirement. Often Christians feel this way due to a mistaken interpretation of 1 Timothy 6:10 about the “Love of money being the root of all evil”. However, there’s no need to feel this way. The Bible also says in [...]
By Debra Lohrere Editor’s Note: Although this article is primarily written to Australians the principles apply equally to others around the world. Just remember “Superannuation” means “retirement fund”. ~ Tim McMahon, editor We can no longer rely on the government to hand out an old aged pension cheque to us once we retire. We cannot [...]
