7 Ways to Retire with $1 Million |
July 31, 2012 |
Retirement Planning, Your Retirement
Having a nest egg of $1 million at retirement is unfortunately not as common as it should be in America. Although consistently saving starting at a young age, investing prudently, and avoiding early withdrawals significantly increases the odds of achieving retirement goals, many individuals still make many poor financial decisions which often take a large toll on savings over the years. Fortunately, Emily Brandon posted a great article which highlights 7 strategies to embrace for ensuring an optimal accumulation of assets for a comfortable retirement....
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How will your Retirement Savings Perform if we have Another Lost Decade? |
July 30, 2012 |
Index Annuities, Jeremy Smith, Member Posts
Written By: Jeremy Smith at Amerishield Let’s say you believe that the next decade will be more volatile than the last decade. If you choose to stay the course and not educate yourself on other viable options, you could very well experience some of the same previous damaging effects of “just breaking even” over the last 10-12 years. Many people’s retirement savings have been lucky to break even over the last 12 years, and many believe that the end of the financial crisis is nowhere...
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Survey Results: Annuities Play Integral Role in Defined Contribution Plan Assets |
July 30, 2012 |
Retirement Planning, Your Retirement
According to a recent survey, individual and group annuities accounted for 46% of the assets in defined contribution plans. This research was conducted by Conning Research & Consulting from a study called “The Big Payout: Growing Individual Retirement Income Opportunities”. Given that annuities allow defined contribution account owners to convert a portion of their assets to ensure guaranteed lifetime income, it is no surprise that they are a popular choice. Before making a decision on how to best utilize your defined contribution plan for ensuring...
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How to Save Your Way to $1 Million |
July 25, 2012 |
Retirement Planning, Your Retirement
Have you ever heard of burst saving? If not, you’ll surely be interested to see its effectiveness in building a sizeable nest egg even if not initiated until your later years. In fact, a study by the research firm Hearts & Wallets found that 64% of burst savers were able to build their savings to at least 10 times their annual income. The overall premise of burst saving is to save at least 15% of your annual income for a period of ten years or...
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Baby Boomers: Beware of Con Artists |
July 24, 2012 |
Retirement Planning, Your Retirement
In a perfect world, every individual would always be looking out the other’s best interest in every daily interaction. We unfortunately do not have this luxury these days so it is necessary to be cautious before giving full trust to individuals in a variety of interactions… especially interactions which involve your money. State securities regulators are reporting a surge of investment fraud according to the North American Administrators Association (NASAA), which is an association of state securities agencies responsible for investor protection. This group is...
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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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Indexed Annuity Annual Reset Advantage |
July 20, 2012 |
Index Annuities, Jeremy Smith, Member Posts
Written By: Jeremy Smith at Amerishield One of the most powerful benefits of an indexed annuity is the annual reset feature. This is valuable whether the indexed market goes up or it goes down. If the index market goes up, the client’s account value receives the market linked growth as interest credited to their account value. If the indexed market goes down, the client receives zero interest that year. While this may appear to be a bad thing, the annuity client lost no money compared...
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Retirees Hit Hard by Foreclosures |
July 20, 2012 |
Retirement Planning
According to an AARP report based on mortgage data from 2007 through 2011, homeowners aged 75 and older have been one of the hardest hit groups by foreclosures. This report revealed a troubling trend in rising foreclosure rates among homeowners who are 50 years old or above. Within this over-50 group, the highest foreclosure rate in 2011 was with homeowners in the 75+ age bracket. In fact, 3.2% of this age group lost their house to foreclosure in 2011. This rate was just 0.33% in...
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5 Ways People Sabotage Their Own Retirement |
July 17, 2012 |
Annuity Basics
There are various reasons why many Americans do not have enough money saved for retirement. The volatile stock market, disappearance of pensions, and high cost of living are certainly culprits. However, these factors do not explain why 12% of women and 7% of men over age 65 live in poverty or the fact that over half of Americans report having less than $25,000 in savings and investments. An article recently published by Kimberly Palmer highlights 5 factors which further address the issues above. In order...
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