DEBT IN RETIREMENT
We’ve spoken in the past about having adequate income during retirement, and have from time to time provided tools for estimating future financial needs. That’s why I found interesting this week’s article which concerns the role that debt can play in those calculations. The article references a nonprofit think tank study, out last year, “showing that 80% of boomers had debt and the median amount was a little over $70,100.” If you find yourself trying to evaluate your future income to cover anticipated needs, and would like to discuss options for income during retirement that you can’t outlive, call us. We are always here to help.
DIFFERENT RETIREMENT PRODUCTS
“Life is unpredictable.” This comment caught my eye in an article I read concerning “different retirement products and savings strategies that seem to be everywhere we look these days.” The article stated that there’s one retirement product that is making headlines and that is Fixed Indexed Annuities. “Did you know that by incorporating a Fixed Indexed Annuity into your portfolio, you can generate guaranteed lifetime income?” Call us if you think this goal is part of your retirement planning strategies. We are always available to answer whatever questions you might have.
DID YOU KNOW?
Did you know that “Americans are not taking the necessary steps to put saving for the future over current expenses. In fact, a quarter of Baby Boomers – the age group closest to retirement – have less than $5,000 saved for retirement and nearly one in five Americans have no idea how much they’ve saved.” So states an article written by the Indexed Annuity Leadership Council. How much have you saved? To help you place your savings in context, find out how much you’ll need for retirement using a calculator here. Let us know if you need any assistance in planning for your retirement. We’re always here to help.
FEARS
This week’s article caught my attention by the manner in which it addressed an issue we talk about frequently. The article’s opening paragraph was “Imagine fearing life more than death. That’s a reality many Americans face as nearly 50 percent of Americans are afraid of outliving their income or their inability to pay for basic necessities like healthcare, according to a new survey released by the IALC.” Don’t let fear immobilize you from learning about some options that may be available to you, and which provide income you can’t outlive. Call us, we’re always here to help.
DEBUNKING MYTHS
Often times people find themselves in the middle of conversations where the speaker is telling them things that relate to their retirement planning, or other financial matters and what is being said is scary, but difficult to know if it is actually true or not. Because of this, we thought to share with you an article that discusses “Debunking 12 Myths about Fixed Indexed Annuities”. The article ‘tells it like it is’ and references frequently made statements that bear further discussion to ‘debunk’ what is true, and what is not. We think you will enjoy reading it, and welcome any comments or concerns you may have. We are always here to help.
HOW ANNUITIES WORK
This week’s publication may be of interest to you because it discusses a wide range of topics surrounding annuities. It tells the reader that “Annuities may help you meet some of your mid- and long-range goals, such as planning for your retirement and for a child’s college education. This Financial Guide tells you how annuities work, discusses the various types of annuities, and helps you determine which annuity product (if any) suits your situation”. We’d welcome the opportunity to discuss with you both how to shop for an annuity once you know which type you believe you need. Call us, we’re always here to help.
WHAT OLDER ADULTS NEED TO KNOW ABOUT MONEY
This week I thought to share with you a publication that addresses five important financial issues of interest to older adults: “Social Security, health and long-term care insurance, later-life investing, creating a retirement “paycheck,” and estate planning”. We have some ideas for that retirement “paycheck” and would look forward to sharing them with you. Call us if you’d like to learn more. We’re always here to help.
VACATIONS AND RETIREMENT
Did you know that people spend more time planning their summer vacations than they do for their retirement? So said one study that is quoted in this week’s article. “While a vacation may last a week or two, retirement may last upwards of 30 years. Neglecting to plan for a period of your life that might last nearly three decades, during which you’ll need to rely on savings, may make your golden years more difficult than you’d expect.” We’d welcome the opportunity to discuss your retirement plans and sort through some options for income that can last your lifetime and perhaps make your golden years less difficult. Call us. We are always here to help.
BACK TO BASICS
Sometimes it is good to go back to basics. That’s why I thought this week’s article might be of interest to you. It explains the basics about what a Fixed Indexed Annuity is, and says that because of the features explained in the article “the value of your money will never decline for as long as it is in the annuity. But it can increase with a rising index, offering growth potential. Once interest is credited, it can never be lost due to interest rate adjustments or negative market fluctuations, and it may even compound. Indexed annuities offer low risk, guaranteed income and protection for market ups and downs.” It is always a good idea to know what your options are. We look forward to helping you feel good about your retirement savings so please call us. We’re here to help.
RETIREMENT QUESTIONS FOR A JOB
Often, we think of retirement only as we are leaving our employment. This week’s article suggests we think about it when we evaluate a job offer, and that we factor in the value to a job offer what an employer’s retirement benefits can add. How is that evaluated? The article suggests you ask yourself four questions: Are employees offered retirement savings vehicles? Does the company match contributions? What is the vesting period? And, Are the retirement offerings sufficient for your retirement goals? Call us if you have any questions about how the answers to these questions may impact on you other retirement savings needs. We may know of options you haven’t thought about.