May 22, 2012 10:57 pm
Published by alexhouse
The first free online matching service designed to help baby boomers find retirement income specialists in their local communities is now active throughout Delaware. Annuity123, an online retirement income educational portal, has opened their Annuity Harmony matching service for the benefit of all of Delaware’s residents who are in need of annuity education and retirement planning guidance. This innovative online matching service is aimed at linking individuals who are planning for their retirement with retirement income specialists who reside in their local area. Over 30...
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May 21, 2012 11:54 pm
Published by alexhouse
You have surely heard the saying that “Timing is everything”, but you may not have heard it in reference to IRAs. An article posted by Robert Powell with the above title highlights 5 important timing rules that you need to consider when developing and executing your retirement plan. Here are the five timing issues that seem to generate the most problems: 1. The age-55 penalty exception 2. The five-year rule for 72(t) payments 3. The five-year rule for Roth IRA conversions 4. Five-year rule for...
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May 15, 2012 11:11 pm
Published by alexhouse
According to research done by Financial Finesse, only one in seven employees say they are on track to retire with 80% (or their goal) of their income. This finding came from a new survey on financial trends of employees was derived from responses to an online financial wellness assessment questionnaire. It found that only 14% believed that they were on track to meet their retirement income goal. On a more upbeat note, another key finding from this research is that employees are becoming more proactive...
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May 14, 2012 11:47 pm
Published by alexhouse
According to a report released by Fidelity Investments released last week, a 65 year old couple retiring in 2012 will spend at least $240,000 in healthcare costs during their retirement (this is on top of their Medicare benefits). Compared to the forecast given last year of $230,000, this update represents a 4% increase. Further, this expenditure forecast does not even include long-term care, over-the-counter medications, nor most dental care expenditures. Given this significant and growing amount, it is very important to ensure that your retirement...
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May 11, 2012 8:29 am
Published by alexhouse
Findings from a recent survey show that almost half of Americans are not contributing to their retirement. This survey was hosted by LIMRA in April. It was based on a nationally representative survey of 2,697 Americans who are the primary financial decision makers or share responsibility for making financial decisions. Although the overall percentage was troubling, the results for ages 18-34 showed that a majority (56%) were not setting aside funds for their retirement. “The findings from this survey were disturbing, given that people will...
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May 10, 2012 10:34 pm
Published by alexhouse
The first free online matching service designed to help baby boomers find retirement income specialists in their local communities is now active throughout Georgia. Annuity123, the online retirement income educational portal, has opened their Annuity Harmony matching service for the benefit of all of Georgia’s residents who are in need of annuity education and planning guidance. This innovative online matching service is aimed to link retirees or those approaching retirement with retirement income specialists whose practice is in their local area. Over 30 years ago...
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May 9, 2012 11:09 pm
Published by alexhouse
Knowing that health care is such a large cost driver in retirement, why do so few pre-retirees discuss health care with their advisors? A recent study from Nationwide Financial states that almost half of high-net worth Americans who are close to retirement say that they are “terrified” of what health care costs may do to their retirement plans. However, only 38% say that they have not discussed retirement health care costs with their advisors. This survey also revealed that respondents who were 55 or older...
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May 8, 2012 11:40 pm
Published by alexhouse
Although owning insurance often gives us a certain peace of mind knowing that we have protection against unforeseen events, some plans are simply not worth the costs to insure. Jeanette Pavini posted a great article which describes some insurance policies which are often not in our best interest to purchase. She provides a list of things that we should stay away from and also includes others that we should really pursue. In summary, here are the highlighted items. Skip – Pet insurance, home warranty, extended...
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May 7, 2012 11:52 pm
Published by alexhouse
One key item in retirement planning which is difficult to assess is the expected costs of long term care. Fortunately, statistics are available for us to use as a guide in our personal planning. The statistical guide that I would like to highlight in this blog came from Northwester Mutual. They put together this fantastic table which breaks down the average cost of long term care by each state and even many major cities. Further, they broke down long term care into these three segments:...
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May 4, 2012 3:24 pm
Published by alexhouse
The first free online matching service designed to help baby boomers find retirement income specialists in their local communities is now active throughout Colorado. Annuity123, the online retirement income educational portal, has opened their Annuity Harmony matching service for the benefit of all of Colorado’s residents who are in need of retirement income education and planning guidance. This innovative online matching service is aimed to link retirees or those approaching retirement with retirement income specialists whose practice is in their local area. Over 30 years...
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