Pensions Archives - Your Family Finances

5 Investment Options for Seniors

For seniors and retirees, it’s likely you’ve been saving up money for most of your life. Perhaps you set aside money from each paycheck either in an employment-sponsored 401(k), stock options, or one of many different types of individual retirement accounts (IRAs). While you might have been saving for the better part of your life, you don’t want to stop once retirement age comes. Unexpected medical costs, increased taxes, natural disasters, and more can cause a financial burden with little to no preparation time.

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Must Know Information About Annuities

Leave a Comment / Pensions / By Guest Author

Annuities are amazing financial products. They let you kick back, relax, and stop worrying about your retirement savings. An insurance company takes over management of your funds, and guarantees a monthly income for life. But just because annuities are great products doesn’t mean all annuities are right for you. There are actually several different ways

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Reasons People Aren’t Buying Annuities (And Why they Should)

1 Comment / Annuities, Pensions, Retirement / By Guest Author

Annuities are a way of investing your money so that you are guaranteed to receive a set income for the rest of your life. Many financial experts champion these financial products as a realistic portion of your retirement plan. However, many people who should be buying them aren’t opting to do so. Less than $200 billion of

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The Impact of the American Taxpayer Relief Act On Your Retirement Savings

1 Comment / Pensions, Retirement / By Guest Author

The fiscal crisis of 08’ brought a number of changes in our personal finance. Most importantly, retirement savings became a focal point of discussion. The most important regulation enacted by Congress since the fiscal cliff was the American Taxpayer Relief Act of 2012 which was signed into law on January 2, 2013. The Act gives permanence to

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Canadian Tax Free Savings Account vs IRAs

Pensions, Retirement, Saving / By Guest Author

A Tax-Free Savings Account or TFSA is designed to help Canadian citizens save money without undue tax consequences. It is a flexible investment vehicle that is similar to an IRA in the U.S. but allows multiple withdrawals without penalties. A TFSA can help Canadians accomplish short- and long-term investment goals. How Does A Tax-Free Savings Account Work? Money

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Planning For A Financially Secure Retirement

Pensions, Retirement / By Guest Author

After spending decades working day in and day out 30% of retireees 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…

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Optimizing Your Pension Choices for Approaching Retirement

Pensions, Retirement / By Tim McMahon

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. Other countries have similar results, for example in Australia government pensions are still

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Annuities for Retirement

Estate Planning, Insurance, Pensions, Retirement / By Guest Author

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

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Getting the Best Annuity Rate

Pensions, Retirement, Saving / By Guest Author

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

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How To Retire Comfortably Without Guilt

Insurance, Pensions, Retirement, Saving / By Guest Author

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

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Why Women Should Collect Houses

Pensions / By Guest Author

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

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