How to Create a Pension (With a Few Catches) |
April 16, 2012 |
Income For Life, Retirement Planning, Your Retirement
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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Do You Need Life Insurance in Retirement? |
April 12, 2012 |
Life Insurance, Retirement Planning, Your Retirement
Along with any other retirement planning tool, specific analysis needs to be applied to Life Insurance to ensure that your specific needs are being efficiently addressed. An article recently published by Jeff Rose sheds some light into key items that you should consider when evaluating if Life Insurance should be part of your overall plan. One key item that he highlights is to be sure that your dependents’ potential needs are included in this analysis. If your children are financially stable, then you of course...
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What to Do With an Inheritance? |
April 11, 2012 |
Annuity Basics, Retirement Planning, Your Retirement
Baby Boomers are expected to inherit roughly $8 trillion from their parents and formulating a plan for receiving that money prior to receipt can pay off in the long run. Sharon Epperson posted an article which describes some key factors to keep in mind when deciding what to do. In it, she notes that the first step in making the most of an inheritance is to outline your financial goals. Many boomers will be able to fund their own retirement and may be able to...
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10 Tax-Unfriendly States for Retirees in 2011 |
April 9, 2012 |
Retirement Planning, Your Retirement
When contemplating a move prior to retirement, factors such as the location of friends/family, local weather, and recreational activities seem to come to mind first. However, one must not exclude tax law when weighing pros vs. cons because they are one of the largest expenses people face in retirement. Fortunately for us all, a lot of the number crunching has already been performed and the results are highlighted in a recent article posted by Mary Beth Franklin. She describes the various factors that were analyzed...
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IRI Survey: Roughly 75% of Baby Boomers Attach High Importance to Tax-Deferral |
April 5, 2012 |
Retirement Planning, Your Retirement
A recent study confirmed that a vast majority place a high importance to tax-deferral in retirement planning. Roughly three out of four (74%) noted it as being important and 44% considers tax-deferral to be very important according to a study from the Insured Retirement Institute (IRI). This report was based a sample of 503 Americans between the ages of 50 and 66. Its output highlights the widely felt consequences that any potential changes to tax laws would cause. Some key statics from this report were...
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What Are The Most Tax-Friendly States for Retirees |
April 4, 2012 |
Retirement Planning, Your Retirement
When contemplating a move prior to retirement, factors such as the location of friends/family, local weather, and recreational activities seem to come to mind first. However, one must not exclude tax law when weighing pros vs. cons because they are one of the largest expenses people face in retirement. Fortunately for us all, a lot of the number crunching has already been performed and the results are highlighted in a recent article posted by Robert Powell. In it, he describes the various factors that were...
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On retirement, too many of us are fools |
April 3, 2012 |
Retirement Planning, Your Retirement
“More than half of people under 50 did not make retirement contributions last year, according to a recent report. There’s only one excuse for not contributing — and most people can’t use it.” This was the introduction to a revealing article written by Joshua Brown which highlights a concerning issue with our eagerness to plan for retirement. In it, a survey by T. Rowe Price that looks at the investing habits of Generation X and Y found that only 45% of people between 21 and...
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How to Avoid ‘Money Death’ |
April 2, 2012 |
Income For Life, Retirement Planning, Your Retirement
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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How to Time Social Security |
March 28, 2012 |
Income For Life, Retirement Planning, Your Retirement
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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Tax Tips for Retirement Investments |
March 27, 2012 |
Retirement Planning
With the April 17th federal income tax filing deadline fast approaching, it is important that we put some thought into minimizing our tax bills through effective retirement planning. Jean Setzfand recently submitted an article in which a nationally known expert, Jordan Amin, offers guidance on what he believes are the three most important tax issues to think about concerning your retirement investments. He highlights the importance of always take advantage of 401(k) or 403(b) plans with matching contributions, to diversify investment types, and to strategically...
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