Should You Buy an Annuity from Social Security? |
July 23, 2012 |
Income For Life, Retirement Planning, Your Retirement
After a prolonged span of economic volatility, retirees are becoming increasingly thirsty for obtaining retirement income that is reliable, predictable, and lifelong. Annuities of course come to mind as an option that can address all three of those traits. There are many annuity products which one can choose from for meeting their particular needs. As Michael Ham points out in a recent article, an option that should not be overlooked is the purchase of an annuity from social security. At first glance, one might assume...
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Why It Pays to Delay Social Security |
July 16, 2012 |
Retirement Planning, Your Retirement
With interest rates at a historical low, many retirees question the most effective use of their funds for maximizing overall value. If you are one of those people, then you should read up on a report published by National Bureau of Economic Research. In it, their team has calculated that waiting until 70 is often the best choice when interest rates are as low as they are now. This report has determined that delaying Social Security is “actuarially advantageous for a very large subset of...
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Is Your 401(k) Plan Taking Advantage of You? |
June 26, 2012 |
401k and IRA Blogs, Your Retirement
If you are like a typical 401(k) account holder, you are probably not sure about the level of management fees that are being deducted from your 401(k) account each year. The main reason for this is not because you are uneducated or do not care about your returns, it is mainly due to the lack of transparency in the quarterly/annual reports that you receive from your plan. A recent AARP survey of 800 workers with 401(k)s revealed that 70% of the responders believed that they...
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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...
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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...
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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...
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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...
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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...
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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...
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