This week’s article reminds us to ask the question “Now that you have created a retirement expense budget and have created a retirement income stream, how do they match up? Do you have enough retirement income to cover your monthly expenses with inflation? If so, are you comfortable with a margin of error? If not, now is the time to do something about it before it’s too late.” Call us if you would like to review your retirement budget and income stream. We’re here to help you maneuver through the difficulties of coming up with a good plan that will work for you.
“On your way home from work, do you drive in the slow lane or the fast lane? Each person has a different propensity for risk. When investing, this risk propensity can be used to determine the percentage of your portfolio that is exposed to equities.” This week’s article provides a questionnaire that helps to determine your risk profile. You may find this useful in deciding how much of your money you would like to put into a product where the principal is protected from market downturns. Call us when you’ve had a chance to take a look, we’d be happy to discuss what your profile suggests might be good options for you. We’re always here to help.
Did you know that by the year 2020 there will be more than 1 billion people over the age of 60 years old worldwide? That’s what I read in this week’s article which also said that “more older people around is not a bad thing”. However, one of the difficulties of getting older is determining where we will obtain the income that we will need to retire. Call us as we have some ideas for ways to obtain an income stream you can’t outlive. We’re always here to help.
Sometimes it is a good idea to review your retirement planning strategy and ask yourself if you are taking action that is sufficient to avoid some common pitfalls. This week’s article reminds us of six: waiting too long to save, not taking advantage of “Free Money”, underestimating medical expenses, lack of balance in your portfolio, relying on Social Security only, and retiring too early. If any of these are of concern to you and you would like to discuss options that may be available to you, call us. We’re always here to help.
We have often spoken about how surveys “find Americans are most afraid of their money running out before their life runs out.” But this week’s article states that “they’re equally afraid that while they are alive, they won’t have the funds to enjoy their life and cover basic necessities.” Despite these fears, it is important to take action. “Those who plan for retirement save 3x more than those who don’t.” Call us if you would like to hear about some options you may not have considered in planning for your retirement. We’re always here to help.
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.
“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 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.
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.
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.