According to the United States Department of Labor, fewer than 50 percent of Americans know how much money they’ll need to survive retirement. Even though the average person will spend 20 years of his or her life in retirement, very few are currently planning for life after work. No matter how far away from retirement […]
It’s Never Too Early to Begin Preparing for Retirement Financially Read More »
6 Annuities FAQs: Yesterday we talked about how useful annuities are for retirement planning. Today we are going to look at some common misconceptions about annuities. Fact or Fiction? — 1) Many different investments offer a guaranteed income stream. — Fiction! Annuities are the only financial planning option that can guarantee a continuous stream of income throughout
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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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Early Retirement- The traditional age for retirement has always hovered around 65 then it began to drop toward 60. However, the latest trends suggest that this age may be getting pushed forward even more to around 70 to 75 years. There are reasons why people simply do not want to stop working after 60 and
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Retirement Planning- No one likes running out of money, least of all when they are retired from work and are no longer earning a salary. Although we do of course have Social Security which (we hope) will provide a basic income, this barely offers enough money to cover the basic, essential spending. Most people will
Retirement Planning- Start Early Read More »
Financial Planning Insurance planning, risk management, Estate Planning, and retirement planning are all essential aspects of personal finance that you shouldn’t take lightly. You need to calculate how much you’ll need to retire and be sure that the amount you come up with will allow you to maintain your standard of living. Next, you must
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None of us wants to think about getting old, but while a few things improve as we age, life insurance premiums are not one of them. As you get older, life insurance companies consider you a greater risk because there’s more likelihood that they’ll have to pay out on a policy than if you were
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Let’s start with Whole Life, a type of insurance which, as its name suggests, is designed to cover you for the remainder of your life. The idea with Whole Life is that though you pay more than you would with Term Life, the extra money gets invested for you by the insurance company in a
Term vs. Whole Life Insurance – What Should You Choose? Read More »
Very few people in today’s economy would be confident telling you that they have their finances under control. For many people, it is a daily struggle just to pay the bills, much less put anything away for savings or investment. If you are having a hard time with your finances, there are some steps that
Financial Planning and Budgeting Read More »
Long-term investment accounts are used by investors as a way to earn returns that will be realized at some point in the future. Investors in these types of accounts are generally not concerned with earning money that will be used right away. Instead, the purpose of these accounts is saving for some need in the future.  Types
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You’ve probably heard that investment plans and financial schemes like, IRAs and 401 (k), are the best ways to plan for retirement. This might be true in most cases, but not always. For instance if you have invested your maximum contribution for the year to your retirement account and you’re seeking to add a bit more more. What can you do? In this case, among others, investing in a retirement
Is a Retirement Annuity the Answer for your Retirement Savings? Read More »
So you want to build up some savings and family wealth? There’s nothing wrong with that. Â It’s only the love of money that’s the root of all evil. The often misquoted verse is located in 1 Timothy 6:10. “For the love of money is the root of all evil: which while some coveted after, they
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