We frequently write about longevity and how important it is to have savings we don’t outlive. And while we’ve always striven to give our clients options for products where the income stream continues no matter how long you live, we are still often asked for a ‘number’ so that can be ascribed to someone’s projected […]
Years ago, it seemed as if the only reason to purchase life insurance was simply to make sure loved ones who depend on your income had what they needed financially after you passed away. Products have evolved along with the passage of time. While life insurance may still seem like something you buy primarily for
Evolution of Life Insurance Read More »
One in six people will be over 65 by the middle of the 21st century. Additionally, it’s likely that by 2034, the Social Security Administration program in the United States will not be able to provide full benefits. These demographic and financial pressures may cause a retirement crisis. However, there is an additional problem that
Retirement Age Is Changing Read More »
Working after retirement brings with it the need to understand certain tax and contribution rules governing the way you can use and/or continue to contribute to the money in your qualified retirement savings accounts. Looking first at continued contributions, in most cases, you should be able to, regardless of your age. There are no income
Working After Retirement Read More »
There is nothing generally inherent in any given year that says it’s a bad or good time to retire. The question that needs to be answered is whether you’re ready financially and emotionally. So, how do you determine if you are ready? Begin by asking yourself if you have estimated your stream of lifetime retirement
Is This Year a Good Year To Retire? Read More »
Of those who turn 65 today, 49% of men and 64% of women will need substantial long-term care. Nearly half will require paid services, even though many rely on unpaid help from family members. Long-term care (LTC) insurance is one way to help with the significant problem of covering these costs. The situation has evolved
Understanding Long-Term Care Read More »
We often think that emotions only impact inter-personal decisions, however making consequential financial decisions in a heightened emotional state also generally isn’t a good idea. Behavioral psychologists have identified a few common biases that can undermine our decision-making skills. While some are rooted in emotion, others are what we think of as mental shortcuts our
Behavioral Decision Making Read More »
Late in life job loss can be devastating on many fronts. One area we haven’t discussed before is a different use of an annuity you purchased, originally intending to turn on the income stream upon retirement or leave the funds to beneficiaries. Because different annuities offer different benefits, some provide the ability for growth of
Planning for the challenges of aging is one of those situations we are probably inclined not to want to think about, either for ourselves or our extended family. The term “diminished financial capacity” is often bandied about as we age and describes a decline in a person’s ability to manage money and financial assets to
Challenges of Aging Read More »
Losing a job is always hard—but it can be especially stressful when it happens in your 50s or 60s. At this stage in life, many people are balancing major financial responsibilities like paying a mortgage, helping kids through college, or caring for aging relatives. And finding a new job that offers similar pay and benefits
Late-Career Job Losses Are Affecting Retirement in America Read More »
