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Income For Life

Why Maslow’s Theory Contradicts Traditional Retirement Planning

Why Maslow’s Theory Contradicts Traditional Retirement Planning

Written By: Cal Burgess, Retirement Servicing Group PLLC For many, the approach to retirement planning is in direct conflict to Maslow’s hierarchy of needs. The approach to retirement is working counter intuitive to the traditional planning approach. For the first time since the 1920’s, the American employee is approaching retirement without the basic core needs being addressed. We have never approached an epidemic of this magnitude before. Those who have the majority of their retirement income, or deferred compensation plans, at risk without addressing proper...

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Why Financial Planning Will Fail Many Retirement Dreams

Why Financial Planning Will Fail Many Retirement Dreams

Written By: Cal Burgess, Retirement Servicing Group PLLC Over the last few years I have met many Americans, either already in or nearing retirement, who have told me that they have been urged to “stay the course” with their portfolio. These investors are putting their retirement dreams in a philosophy that utilizes projections, and not guarantees. The problem is many investors are hoping to retire in the next 10 -20 years and are nowhere near their long term goals. Considering that the S & P...

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Death of the Traditional Pension Plan

Death of the Traditional Pension Plan

Written By: Cal Burgess, Retirement Servicing Group PLLC The traditional pension plan is a concept from the past that is likely to never come back to the American culture. The concept of the pension plan is ingrained into the fabric of our country’s roots, and Generation X is going to be the first generation in US history that will not experience the benefits of this retirement plan. Through adamant deregulation of the investment banking industry from the early 1980s throughout the 1990s, deteriorating market conditions...

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GM Makes Strong Move Away From Pensions

GM Makes Strong Move Away From Pensions

GM announced last Friday that is will make a strong move to decrease its pension liabilities. For retirees, they will offer over 40,000 them a lump-sum payment of cash to end their monthly benefits. The rest of the 118,000 salaried retirees and spouses in the U.S. will be serviced by a group annuity that GM will purchase. Their overall plan is to unload $26 billion in pension liabilities from their books in a move that experts say are likely to become a trend as companies...

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The Accumulation Phase is the Missing Link

The Accumulation Phase is the Missing Link

Written By: Cal Burgess, Retirement Servicing Group With respect to income and retirement planning, there are 3 phases of life. The introduction phase, the accumulation phase, and the preservation phase. The second phase, the accumulation phase, is the phase of life where you accumulate funds to retire (working years of life), pay off as much debt as possible, and try to achieve the best quality of life you can. This is the phase that is destroying the American dream of retirement. Most of us grew...

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How to Create a Pension (With a Few Catches)

How to Create a Pension (With a Few Catches)

As employment benefit pension plans continue to decline at fast pace, many Americans are turning to “longevity insurance” to restore some financial security to what are supposed to be their golden years. An article recently posted by Anne Tergesen gives some valuable insight into these private pension plans. Unlike an immediate annuity which starts issuing payments almost instantaneously, a longevity policy involves an upfront payment with a start date selected by the policyholder at some point in the future. For an example of the differences,...

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How to Avoid ‘Money Death’

How to Avoid ‘Money Death’

The fact that life expectancy for American’s is increasing has led many to have an elevated concern for being at risk to outlive their savings. A recent article by Sharon Epperson highlights this increased concern of running out of money in retirement which is referred to as “money death”. The article points out that in order to address this increasing retirement duration, conventional strategies such as putting more money into bonds and less into stocks as individuals grow older is not a complete fix. According...

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The Merits of Annuities

The Merits of Annuities

In a recent blog appearing on NAIFA.org and again on lifehealthpro.com, the merits of annuities have been highlighted as a reminder of their importance in effective retirement planning for all of us to keep in mind when hearing of an isolated event of abuse which often gets widespread coverage in the media. This blog written by Robert Miller is most directly aimed at the recent theft conviction of an agent in California who sold an indexed annuity to an 83 year old woman who prosecutors...

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How to Time Social Security

How to Time Social Security

When is the best time to start taking Social Security benefits? The answer to this seemingly simple question often causes anxiety among retirees since knowing that a mistake can cost thousands of dollars. Unfortunately, there is no one size fits all answer. It is most often deducted from the weighting of pros and cons which are different for every individual. A recent article by Ellen Schultz provided insight into the many factors that need to be considered when making your decision. This article describes some...

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Boost Your Social Security Knowledge: Eight Key Things to Know

Boost Your Social Security Knowledge: Eight Key Things to Know

The basics about Social Security such as age of eligibility and lifetime payments are well known by most of us, but a surprising few are aware of many important aspects of the program which could lead to a more fruitful retirement if utilized smartly. “When you scratch beyond the surface, the knowledge really plummets,” said Jean Setzfand, vice president of financial security for AARP, which recently polled older adults on their Social Security knowledge. “I don’t blame people for not knowing and understanding the details....

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