Study Reveals That Most Advisors Favor Annuities For Their Clients |
June 28, 2012 |
Annuity Basics, Retirement Planning
A new study published by LIMRA shows that 55% of advisors believe that annuities should be included in their clients’ portfolios when they have less than $500,000 in investable assets. Given this retirement amount needs to address their clients’ needs for the remainder of their lives, the greatest risk to these clients is outliving their assets. Statistically, they simply do not have enough cushion to self-insure against longevity risk. Also, this study found that 42% of advisors with high-end clients say that guaranteed income products...
View Article
IRS to Focus on IRA Compliance |
June 25, 2012 |
Retirement Planning, Your Retirement
With millions of dollars in tax penalties that go uncollected each year, it seems almost certain that the IRS will put more time into assessing compliance to the many rules surrounding IRAs. For instance, roughly $290 million of penalties were uncollected in years 2006 and 2007 due to missed withdrawals and ineligible contributions. The instances of non-compliance are often caused from bureaucratic hurdles to tax forms which simply do not provide enough direction according to a report by the Treasure Inspector General for the Tax...
View Article
Top 10 Countries to Retire in Style |
June 22, 2012 |
Retirement Planning, Your Retirement
Although a vast majority of retirees could not fathom moving away from friends and family for their retirement, there are some great savings available to those with an adventurous mindset. Fortunately, the numbers were recently crunched by International Living and Jason Notte posted an article titled 10 Countries Where Retirees Live Large. Their research accounted for the price of staple items and even included the cost in staying in touch with family/friends left behind. Also, they factored in the locals’ overall friendliness toward Americans. The...
View Article
A Paradigm Shift of Income Planning |
June 21, 2012 |
Cal Burgess, Member Posts, Retirement Planning, Your Retirement
Written By: Cal Burgess, Retirement Servicing Group PLLC The retirement crisis is likely to continue given the direction our pension plans are heading. It is no secret that the traditional pension plan is pretty much unheard of in the private sector. Today, your only real hopes of receiving a pension are through a government job. Even at that, state and federal governmental authorities are struggling to make the payments on a monthly basis. This is all the more reason why employees need to take their...
View Article
The Four Cs Of Successful Retirement Income Strategies |
June 20, 2012 |
Retirement Planning, Your Retirement
Just as there are countless ways to earn money during an individual’s accumulation phase in life, there are also a very large variety of options available to those preparing to ensure that their accumulated savings are sufficient to carry them through their retirement years. Given the large variety of offerings available, individuals often become confused and disheartened when attempting to address their personal/family retirement plan. Fortunately, there is now an innovative and uncomplicated framework which individuals in need of guidance can use to begin working...
View Article
Inheritance Prioritization Across Generations |
June 19, 2012 |
Retirement Planning, Your Retirement
A study was recently released which showed evidence of differing opinions across generations on the importance of leaving behind an inheritance. According to a U.S. Trust study which surveyed 642 individuals who have at least $3 million in assets, baby boomer aged parents are less committed than those older and younger than them. This study reveals that more than two thirds of non-boomers believe that it is important to make plans to leave money in the family while just 55% of baby boomers agree that...
View Article
How to Avoid Your Own Retirement Crisis |
June 18, 2012 |
Retirement Planning, Your Retirement
According to a recent survey, about 56% of baby boomers and Generation X are saving enough to cover their basic retirement costs including medical expenses. On first glance, it is great to see that a majority of individuals in this age bracket of 38 and 65 are on the right track. However, it reveals that 44% are not saving enough. This percentage is especially troubling given such a large population. Fortunately, there are a variety of actions that this 44% can take to build a...
View Article
What Will Be The Future Age of Retirement? |
June 12, 2012 |
Retirement Planning, Your Retirement
With the unstable market and low interest rates, the average retirement age of individuals undoubtedly will increase. The key question is really the extent of this increase. According to Robert Benmosche, chairman of American International Group (AIG), the ages will have to be 70 to 80 years old in order to make pensions and medical services more affordable. Considering that this is over a decade longer than historic averages, his commend has certainly raised some eyebrows across. Only time will tell if his prediction is...
View Article
Why Financial Planning Will Fail Many Retirement Dreams |
June 11, 2012 |
Cal Burgess, Income For Life, Member Posts, Retirement Planning
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...
View Article
5 Timing Rules You Need To Understand About IRAs |
June 8, 2012 |
401k and IRA Blogs, Retirement Planning, Your Retirement
Owning an IRA would be a simple process if only the tax code was flexible to adjust for missteps. However, the tax code is not at all friendly so we need to be very aware of the timing issues that most often cause the most problems. Fortunately, Robert Powell was nice enough to document the 5 most important timing issues that we must be sure to keep in mind before we take any actions which could cause unfortunate consequences. Here are the five timing rules...
View Article
