Income For Life Archives - Page 6 of 6 - Annuity 123 : Annuity 123

Don’t rely on social security for all your retirement income needs

Don’t rely on social security for all your retirement income needs | February 15, 2012 | Annuity123, Income For Life, The United States Economy, Your Retirement

The good old days of working hard for 30+ years and then retiring with a pension plan and social security or even just social security are in a sharp decline if not over. Certainly if you are not close to age 62 the likely hood that social security will be all the retirement income you need is very low. With the ever growing medical expenses more and more baby boomers are likely to outlive their retirement income. The stagnant economy also presents a threat...

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Social Security Taxes by State

Social Security Taxes by State | February 14, 2012 | Annuity123, Income For Life, Your Retirement

According to the KiplingerTax Letter June 10, 2011 article, “Retiree Tax Heavens (and Hells)” are as follows: Heavens; Alabama, Colorado, Delaware, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, Pennsylvania, and South Carolina. Hells : California, Connecticut, Iowa, Maine, Minnesota, Nebraska, New Jersey, Oregon, Wisconsin, and Vermont. Income taxes, sales taxes, real estate taxes, friendliness to pensions, and taxes on Social Security benefits were the considerations in compiling these lists. Not all states made every category. Just in case you’re wondering which states do not tax Social Security...

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How can the possible collapse in Greece affect your retirement?

How can the possible collapse in Greece affect your retirement? | February 13, 2012 | Annuity123, Income For Life, The Global Economy, Your Retirement

If you keep up with the markets you have probably heard all you want to hear about Greece, Spain, Portugal and the European Union’s (“EU”) financial troubles. Right now Greece is the most likely to fall and the uncertainly in Europe played havoc on the Dow Jones last year. Greece is currently facing problems that the USA may face in the future. In very simple terms their entitlements (Government Spending) are far more than their tax revenues. Additionally, their national debt is now...

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Making It Easier To Buy Annuities

Making It Easier To Buy Annuities | February 13, 2012 | Annuity Basics, Annuity123, Income For Life, Miscellaneous Annuity Info, Retirement Planning, The Global Economy, Your Retirement

Just as the concern for baby boomers running out of income is a very hot topic here in America, the same problem persists in other parts of the world as well. Perhaps even more so in regards to the education and awareness in some respects. For instance, we have been following the “pension” and “annuity” related articles in England for the past year which vastly overshadow the amount of similar related articles in America. It seems every day there is more evidence of groups pushing...

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Annuity School

Annuity School | February 9, 2012 | Annuity Basics, Annuity123, Income For Life, Miscellaneous Annuity Info

As many of you probably heard this week, there is some potential new legislation that could alter 401k accounts to have a type of longevity annuity available to every American. Furthermore, there are some big things on the table in regards to altering the current pension plans into much more consumer, annuity friendly vehicles. So all of this exciting news for the retirement income industry has brought with it a need for education on annuities. I won’t mention the television station, but I watched two...

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Why Being A Millionaire Doesn’t Mean Much For Your Retirement

Why Being A Millionaire Doesn’t Mean Much For Your Retirement | February 6, 2012 | Annuity Basics, Annuity123, Income For Life, Retirement Planning, Your Retirement

For as long as I can remember as a youngster, I had a fantasy of becoming a millionaire one day. Can you recall the days when you might see one of the “wealthiest” people in your hometown and people would refer to him or her as “the rich millionaire”? It was a big deal, and being a millionaire carried a lot of clout. Now please don’t think for a second I am trying to bring down or belittle millionaires. I fully realize they make up...

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The Department of Treasury Loves Annuities

The Department of Treasury Loves Annuities | February 3, 2012 | Annuity Basics, Annuity123, Income For Life, Miscellaneous Annuity Info, Your Retirement

This week the Treasury Department announced a new regulatory proposal that would encourage lifetime income options in retirement plans such annuities. A couple of main points were discussed in this new proposal. The first would allow current participants in defined benefit plans (for the small percentage of consumers that still have DB plans) to take their retirement savings in the form of an annuity plus a lump sum. Currently, the rules state that it is only one or the other. The second point would...

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