With 2022 just beginning, we thought to share with you some of the changes to Social Security. The Social Security Administration has issued a 5.9% cost-of-living adjustment (known as “COLA”) for 2022, the largest COLA in nearly 40 years. How much of a difference this will make in your life really depends on your overall financial needs and situation. While [...]
Over the past few weeks we’ve reviewed some things to think about regarding providing for your family’s future and protecting what you’ve worked for. As we enter the New Year, there are also strategies you can think about putting in place that will pass on your legacy. Just as your life changes over time, so can tax laws and regulations. [...]
The pandemic and its impact has created a lot of unexpected events, changed the markets and caused each of us to adapt. Now is a good time to review how your needs may have already changed, or how you now understand they may change in the future. To get started, ask yourself if your goals remain the same and then [...]
As we mentioned last week, one of the risks that everyone shares is investment risk. Having a portfolio of products aligned with your risk tolerance and time horizon is important to protect against market risks. As you age, your time horizon and risk tolerance will likely change. It is important to review your time horizon associated with each of your [...]
There are some risks in life that everyone should be prepared for. The question that needs to be answered is how do you protect yourself from these risks since the impact each has on you can change throughout your life? Those risks include the following: unexpected expense risks, medical risks, liability risks and investment risks. Over the next two weeks [...]
I read an article that I thought to share with you as it indicates Government data shows “nearly 70% of individuals who reach age 65 will need long-term care at some point.” Further, “while the median cost of an assisted living facility was $4,300 a month as of 2020, what most Seniors don’t realize is that Medicare doesn’t pay for [...]
This week we want to set aside our weekly article, and take a moment to wish you all a Happy Thanksgiving. We hope that this holiday is filled with happiness and joy for you and your family. It is a time when we and others give pause to reflect on the abundance of wealth that exists in having family and [...]
The author of this week’s article tells us the “so-called withdrawal rate should shrink to 3.3% from 4% according to a Morningstar report.” What does that mean? The withdrawal rate refers to how much a retiree can “safely” withdraw from their savings each year without fear of running out of money. Usually it assumes that someone will live about 30 [...]
We have been asked a question about whether someone should choose either an annuity product or a life insurance policy. That question is a reminder that it isn’t an ‘either/or’ choice. You may want to consider both annuities and life insurance for your long-term financial plan. Essentially, you purchase life insurance in the event you die sooner than expected and [...]
When building the foundation for your retirement income strategy, it’s important to consider ways to ensure your money lasts as long as you need it. Speaking with us about the following six questions can be a good starting point. 1) How much of your necessary expenses are covered by outside income sources such as Social Security and/or a pension? 2) [...]
