Category Archives : All

Independent Living

Commentary:
Sometimes when we think of our later years in retirement we neglect to reflect on what savings we might need to have for the ‘buy-in’ into an independent living facility, and focus only on the possibility of health care costs and the monthly fee we will be charged for rent and food and more. If you are looking at your savings and wondering where or how you will come up with the larger sum of money for that ‘buy-in’ but still have income you won’t outlive for the rest of your expenses. call us. We have some ideas you may not have considered. We’re always here to help.

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Senior Life Style

I thought to share with you this week’s article because it discusses tips for saving money after retirement. It’s important to remember that “it’s never too late to save, even after retirement.” The author tells us “With increasing life expectancies and financial uncertainties leading up to retirement, here’s how to get on track once you’re retired.” Take a look at the guide provided in the article and then call us if you’d like to hear our ideas. We’re always here to help.

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Is it time to wind down on saving?

This week’s article ask the question “When do you stop saving and start enjoying the fruits of your labor?” Assuming “you’ve done all the right things—financially speaking, at least—in saving for retirement. You started saving early to take advantage of the power of compounding, maxed out your 401(k) and individual retirement account (IRA) contributions every year, made smart investments, squirreled away money into additional savings, paid down debt, and figured out how to maximize your Social Security benefits.” An interesting question, especially when the manner in which you receive your income stream from your savings may vary. Call us if you’d like to discuss options you may have to start that wind down sooner. We’re always here to help.

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46% of Americans are Guessing

Did you know that a survey released in 2019 found 46% of Americans are guessing at how much money they need for retirement? With increasing life expectancies and financial uncertainties leading up to retirement, it would seem that guesswork plays a big part in determining whether or not we have saved enough to make the decision to stop working and cross over to retirement. We can help in this area by telling you about a product that can remove one part of that guesswork because it provides a guarantee income you can’t outlive, and which won’t decrease if the market goes down. Call us, we’ll tell you all about it. We’re always here to help.

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The Best Day

This week’s article tells us “The best day to start saving is today, even if you can save only a little bit.” The math is very interesting. “If two people put the same amount of money away each year ($5,000), earn the same return on their investments (6 percent annually) and stop saving upon retirement at the same age (67), one will end up with nearly twice as much money just by starting at 22 instead of 32. Put another way: The investor who started saving 10 years earlier would have about $500,000 more at retirement. It’s that simple.” Call us, we have some ideas for where you might put that annual savings. We too will keep it simple.

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Let’s get down to the nitty-gritty

Commentary:
I came across an article written in the Harvard Law Review and thought to share it with you. Sometimes we have conversations with those who say, “Let’s just get down to the nitty-gritty”. That’s what this article does. Written at the end of April it discusses rethinking retirement savings and puts in context how much money we have in retirement accounts, where it comes from and what ‘buckets’ exist that provide any economic security of American workers facing retirement. Take a look. It may provide food for thought, and finding safer rather than riskier places for putting saving for retirement has always been our priority. Call us, we’re always here for you.

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Starting to worry again?

Are you holding your breath starting to worry about the market again? Fortunately, you can build a diversified portfolio with principal protection in a way that distributes risk and prepares your retirement savings for growth in a variety of economic environments. If you include Fixed Index Annuities it’s even possible to guarantee income over a period of time — even over a lifetime. FIA Insights tells us “unlike a 401(k), with an FIA the insurance company absorbs the risk of market downturns, guaranteeing a minimum floor, and protecting contract holders from market losses.” If you are starting to worry again, call us. We may be able to provide options that make you feel more comfortable about your retirement savings.

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Life-is-Short

This week’s article tells us that affluent Americans are rushing to retire in a new ‘Life-Is-Short’ Mindset. “The unprecedented surge in shares and home values during an economic crisis is easing the retirement path for those who have savings”, yet, even if we now think that life is short, we still live longer and need income that we can’t outlive. Regardless if you think of yourself as affluent or not, there are options that will help you feel more comfortable with your retirement strategies. Call us, we have some ideas for you and we’re always here to help.

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Is your social security check going to be enough for you?

Commentary:
According to a Gallup poll, 85% of investors “strongly agree that it’s important to have a guaranteed income stream in retirement to supplement Social Security.” At the same time, “61% strongly or somewhat agree they are willing to give up access to some money in order to provide for a guaranteed retirement income stream,” adds Lydia Saad for Gallup. Whether you’ve recently retired or are some years out, an annuity can help build tax-deferred savings. Why’s that important? They provide a guaranteed lifetime income that can supplement your social security. If this is of interest to you, call us. We can review with you what your options are. We are always here to help.

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Some Annuities even offer a Bonus

As a reminder when you are considering where you can place your hard earned savings to generate a guaranteed income, remember that FIAs are insurance products that can guarantee income over a period of time — even over a lifetime. Unlike a 401(k), the insurance company absorbs the risk of market downturns, guaranteeing a minimum floor, and protecting contract holders from market losses. In other words, an FIA offers the potential for interest based in part on the performance of an external index without the risk of market loss. Your principal amount is guaranteed, subject to any withdrawals you take or any surrender charges incurred due to early termination of the contract. Any growth in annuities is tax-deferred and most compound annually, meaning gains are locked in and added to your principal, with future interest earned on that compounded amount. Some Annuities even offer a bonus – call us if you’d like to learn more about this. We’re always here to help.

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