Planning your retirement means having a basic roadmap. Adjust and make sure you have control over your asset allocation and make sure it begins to change as you near the time when accessing your funds can provide the best “golden years” for you.
Health issues such as diabetes, weight problems, smoking, high blood pressure, high cholesterol, even if applicants have suffered a heart attack in the past can now be considered for insurance. Information from medical science is now available through many more sources and a fresh understanding of life expectancy makes life insurance underwriting more complete.
According to a recent survey conducted by LIMRA, one out of four employees age 55 and older answered “no” to the first question, and three out of four answered “no” to the second. That is staggering to me, how could such a large percentage have no clue about this important time of their lives. Understanding basic income and retirement needs seems at the least a very important question.
Some annuity products may fit your goals better others. Why? Annuity products are designed for a specific purpose and aligning them with your personal goals is essential. In general, the decision on whether an annuity is right for your depends on your needs and goals.
Reduce stress by creating a simply financial plan.
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Most 401 (k)s offer investment options such as mutual funds. Investment options in the mutual funds can be stocks or bonds or a combination of both. As we age, providing a layer of safety and security to our 401 (k) seems only prudent. As an option, your 401 (k) will also offer a stable money investment option. These options could include a money market account. The problem with money market accounts is the yield, a yield which may not keep up with inflation.
Most people know the amount of money in their retirement plan and as they near retirement the focus on those funds becomes more and more important. Don’t forget the very most important questions you should be asking yourself about your retirement money.
My friend John has a special item in his life, John has a safe. This isn’t any ordinary safe; it is a special safe that John keeps his important money in. John’s safe protects his money so it is never at risk and no one can withdraw John’s money from his safe, except him. He is the only one with the combination to his safe. John’s safe has a special feature, it increases John’s money by paying guaranteed interest each month.
This concept is called the Split Annuity and is perfect for a person who wants income now but wants to build a larger income in the future as a hedge against inflation.