The devastating effects or living too long (the longevity crisis) and not having enough funds to maintain an anticipated quality of retirement is a real concern. LIMRA reports: The average life expectancy for a person who reaches the age of 65 is 83 for males, 86 for females. LIMRA purports that the proper way to interpret these statistics is to assume half of all males who reach age 65 will live past 83 and half of the females who reach that age will live past 86. Half of all couples who reach age 65 will have one partner hit 90.
Choosing a member of your financial team is a task that you should never undertake lightly. After all, you will be sharing an intimate part of your life with someone you typically haven't known for long and probably don't know very well. Trustworthiness is an essential virtue for anyone you select as part of your [...]
In the past year, coffee futures have dropped 18.35% in value; if you had based your financial future on coffee futures, your account could be worthless. How about concentrating in a category that has risen? Silver, for instance, has increased in value 25.57% in the past 12 months. The futures value [...]
"Evaluate your options, understand your choices, and be flexible.”– Bill Broich One of the most significant pieces of financial legislation enacted in the last 50 years was The Employee Retirement Income Security Act of 1974, better known as "ERISA." ERISA was a direct response to the realization that most Americans did not have enough saved [...]
Annuity contracts allow for 10% of the account value to be withdrawn annually, this can be done all at one or more than once. If an annuity is used as an income stream, surrender penalties are waived. In the event of death almost always surrender penalties are waived for the beneficiary. In addition, most contracts allow for access to the account funds in the event of long term illness or terminal illness.
US Treasuries are considered the safest investment in the world. The yield on US Treasuries over the past few months has created great concern over exactly where to deposit money that needs to be safe. US Treasuries have always been considered the safest possible place to keep the money. Since the Coronavirus scare drives the [...]
The number one reason that people purchase an annuity in the first place is income protection, protection from living too long. Think of it as an insurance to protect you from outliving your assets. It is not uncommon, and it is becoming more common, for people to outlive their retirement funds, people are living longer. For many people, it just makes solid sense. With the purchase of an annuity come contractual benefits known as settlement options.
In a 2011 survey asking Baby Boomer-aged women about their retirement plans and their investible assets, single women had substantially less money saved for retirement than did single men. In addition to less money saved for retirement, a high percentage (86%) of women surveyed planned to retire earlier than men.
How safe is your fixed indexed annuity? Should you trust a fixed indexed annuity with your important retirement funds? What happens if an insurance company were to fail? These and other questions are vitally important and the answers may surprise you.
Buying a US Treasury EE Bond can be a great idea if you want your funds held long term and have no need for the funds prior to their 20 year maturity. EE Bonds offer fixed interest rates for the life of the bond. The maturity period for EE Bonds is 20 years, if you redeem the bond in the first 5 years of ownership, there is a penalty affixed. EE Bonds offer safety, market yield and tax deferred interest compounding.