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 [...]
This week’s article suggests us four things to do if we want to save enough to retire in 10 years, but we have an additional idea. As you accumulate those savings meant to carry you through retirement alongside of your social security, we suggest putting some or all of those savings into a place where your principal is guaranteed not [...]
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 [...]
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), [...]
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 [...]
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. [...]
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 [...]
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 [...]
Now that we are starting to emerge with no masks, we see that “COVID-19 has accelerated many of the trends that were already challenging the outdated study-work-retire model, as individuals and families, financial services institutions, and policymakers grapple with the issues — and explore the opportunities — of funding lives that now routinely stretch for twenty, twenty-five, or thirty years [...]
We’re often asked what kind of information is needed to determine if you are successfully targeting what you need for a secure retirement. Use the retirement calculator in today’s article to create your retirement plan. “View your retirement savings balance and calculate your withdrawals for each year”. It even includes information about Social Security which is calculated on a sliding [...]
